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1930s Ppt 1

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Transcript

  • 1. What do we know about the 1930’s?
  • 2. The Great Depression Begins An Appearance of Prosperity
  • 3. The Economy of the 1920’s
    • Bad for farmers
  • 4. Appearance of Prosperity
    • Nicknamed “Roaring 20’s” for a reason
    • A time of high, sustained economic growth
  • 5. Appearance of Prosperity
    • 1922-1928 - Gross National Product rose by 30%
      • GNP = total value of goods and services produced in a nation during a specific period of time
    • Made people feel optimistic
      • Limited knowledge about economy
      • Led to reckless spending, investing
  • 6.  
  • 7. Appearance of Prosperity
    • Automobiles
      • Increased steel, oil, rubber business
      • Employed 4 million workers
  • 8. Appearance of Prosperity
    • 1923 - 1929 unemployment averaged 3%
      • November 2006 = 4.4%
      • January 2009 = 7.6%
    • Slowed growth of organized labor
      • Union membership decreased
      • Welfare capitalism also helped
  • 9. Appearance of Prosperity
    • Shorter hours, bigger paychecks
    • Led people to buy new products, movie tickets, attend sporting events, leisure activities
  • 10. Stock Market Expansion
    • Stockmarket: place where stocks are bought and sold
    • Stock: ownership in a company sold in shares
  • 11. Stock Market Expansion
    • Buying share of stock = buying a piece of a company
      • Company does well = value rises
      • Company does poorly = value falls
  • 12. Stock Market Expansion
  • 13. Stock Market Expansion
    • 1920 -1929 value of stock’s quadrupled
      • # of stocks traded 1920 = 318 million
      • # of stocks traded 1929 = 1 billion
    • People thought market would never go down
    • Ordinary people started investing
  • 14. Faith in Business and Government
    • Pro-business presidents
      • Harding and Coolidge
      • Popular with voters
    • Public confidence in federal government and pro-business policies was high
  • 15. Election of 1928
    • Coolidge did not to run for reelection
    • Republicans chose Herbert Hoover
      • Never held public office
      • Oversaw America’s WWI food production
      • Directed WWI relief efforts
      • Harding and Coolidge’s Secretary of Commerce
      • Reputation as business-minded leader
  • 16. 1928 - Hoover vs. Smith
    • AL SMITH
    • Outgoing
    • Catholic
    • Support from Catholics, urban immigrants
    • Supported alcohol sales
    • HERBET HOOVER
    • Quiet, shy
    • Quaker
    • Support from small towns
    • Supported prohibition
  • 17. Hoover vs. Smith