Depression
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Depression

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Depression Depression Presentation Transcript

  • Great Depression Photographs
  • Homeless People on the Road
  • Eating in a Breadline
  • Life in the Depression
  • 10 th American History Unit IV- U.S. Economic History to 1945 The Great Depression
  • Reading Quiz
    • 1) What is a run on the bank?
    • 2) Give two causes of the depression.
    • 3) What was a “Hooverville”?
    • 4) What was the Dust Bowl?
    • 5) What are Okies?
    • 6) Why did farmers and other businesses fail?
  • What did Hoover do?
    • Traditional Approach to a depression - Cut Government Spending and let the Depression burn it self out- this will get rid of the rottenness in the system.
    • Hoover did not sit still
      • He called on states, cities, and all private charities to feed the hungry.
      • Brought business and labor leaders together.
      • Cut his own salary by 1/5th
      • Cut taxes- did little good
      • Public works jobs.
  • The Great Depression Begins in America 3:24 min.
  • Causes of the Great Depression
    • 1) The Stock Market Crash of 1929- a trigger.
    • 2) Unequal distribution of Wealth. False prosperity (A maldistribution of purchasing power).
    • 3) Overproduction and over dependence on mass production.
    • 4) Unemployment
    • 5) Speculation in Stock Market- buying on margin and cheap money
    • 6) Banking crisis.
    • 7) Trade collapse
    • 8) Republican Party
    • 9) Federal Reserve and Money system
    • 10) Lack of diversification.
    • 11) Post war deflationary procedures.
    • 12) The Credit structure.
  • Development of the Great Depression
    • Bank Failures
      • Not all Americans invested but most all had money in savings.
      • Banks had no deposit insurance and little cash on hand.
      • Runs on banks.
      • Hundreds of banks failed.
      • By 1933- bank failures wiped out billions of dollars of savings, add this to the crash and things got worse.
  • Development of the Great Depression
    • Farm Failures
      • Unemployment reduced American’s ability to buy food and people went hungry
      • Farmers overproduced, surpluses went up and prices went down.
      • Lower prices means lower income for farmers.
      • Farmers borrowed for land and equipment, now were unable to repay loans.
      • 1933- over 364,000 foreclosures
  • Development of the Great Depression
    • Unemployment
      • 1929-1930 steep rise in unemployment which would last a long time.
      • 1933- GNP dropped more than 40%
      • 1933- unemployment was at 25%.
      • Black areas were higher- Harlem up to 50%
  • The Human Impact of the Great Depression
    • Hoovervilles
      • Thousands applying for every job.
      • People begged from door to door.
      • Soup kitchens and Bread lines.
      • 1930’s- no federal programs to provide food or money to the poor.
      • Local Charities, municipal and state gov’t provided relief.
      • 1932 on 1 in 4 families needing unemployment relief got any.
      • People lost their homes- eviction and foreclosure.
      • Hoovervilles- Shantytowns for the homeless.- Ramshackle, leaky and drafty
        • No running water or electricity
        • Unemployed males were idle and desperate.
        • Emotional Toll- personal failure, pride, anger
  • The Human Impact of the Great Depression
    • Hoboes
      • Mostly men- unskilled migratory laborer, an itinerant and seasonal worker.
      • Mostly white, American born, and able bodied.
      • Hopped trains to travel from town to town- Illegal, dangerous and hired “Bulls”.
      • Beg or stole food.
      • System of sign language.
      • Families sometimes broke under the strain of poverty and homelessness. Many left their families behind.
  • The Great Depression 4:30 min.
  • Devastation of the Dust Bowl
    • Great Plains Drought- 1931
      • Dust storms
        • brought on by years of careless agriculture practices.
        • Wind storms stripped away topsoil and blew it for hundreds of miles.
        • Drifts choked crops, buried farms and blew into homes.
        • Dust Bowl
  • Devastation of the Dust Bowl
    • Migration
      • Fleeing the Plains- “Okies”
        • People quit, packed up and moved.
        • End of 1930’s- 2.5 million left.
        • Headed west on Route 66 to California and migrant farm camps.
        • Met by resistance and discrimination.
        • Grapes of Wrath - book
  • Devastation of the Dust Bowl 1:02 min. 0:36 min.
  • Migration the Dust Bowl 4:17 min. 2:50 min.
  • Hoover’s Reaction to the Depression
    • Rugged individualism
      • Unnecessary gov’t threatens prosperity and dims the spirit of the people
      • Some gov’t oversight and regulation is needed, but people need their own responsibility and power.
    • Associative state
      • Voluntary business associations- for fairness and efficiency.
      • Voluntary partnership with businesses and government.
      • Hoover Dam-government funded it, but six companies designed and built it.
  • Hoover’s Reaction to the Depression
    • Voluntary cooperation
      • Gov’t should not provide direct aid but find ways to help people help themselves.
      • Farm cooperatives-organization owned and controlled by its members.
      • Help farmers buy materials cheaper, and help raise crop price and farmer income.
      • Hoover urged business leaders not to lay off workers or cut wages.
    • Direct action- cooperation was not working.
      • Businesses cut jobs and wages
      • States and locals stopped building programs
      • Consumers stopped spending
      • 1932 Hoover created with Congress the Reconstruction Finance Corporation- $2 billion in direct government loans to struggling banks, insurance companies and other institutions.
      • 1932- Federal Home Loan Bank- to encourage home building and stop foreclosures.
    • The Smoot-Hawley Tariff- High and disastrous
  • Nation’s Response to Hoover
    • Losing favor
      • Hoover was optimistic- but the worst was yet to come.
      • He still refused direct aid.
      • But he did give aid to banks and businesses but not individuals.
    • Bonus Army- 15,000 set up camp
      • 1932- WWI Veterans march on Washington to demand their bonus $1.25 for each day overseas- to be paid in 1945
      • They need the money now
      • Hoover sent out the troops to clear them out- Violence
    • Voter Reaction- 1930 Republicans began to lose seats in Congress.