Depression

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Depression

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

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