Crash And Depression

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Crash And Depression

  1. 1. Chapter 15 Crash and Depression
  2. 2. Black Tuesday <ul><li>Oct. 29, 1929 </li></ul><ul><li>Dow Jones Industrial Average? </li></ul><ul><ul><li>Falls from 381-198? </li></ul></ul><ul><ul><li>GE stock falls from $400-$283? </li></ul></ul><ul><ul><li>16 million shares were sold in a single day (normal sales are between 4-8 million). </li></ul></ul><ul><ul><ul><li>What does this do to the price of stock? </li></ul></ul></ul><ul><ul><ul><li>Who gets hurt first from this? </li></ul></ul></ul>
  3. 3. What caused the crash? <ul><li>Risky bank loans? </li></ul><ul><li>Overspeculation? </li></ul><ul><ul><ul><li>Brokers? </li></ul></ul></ul><ul><ul><ul><li>Bank runs? </li></ul></ul></ul><ul><ul><ul><ul><li>How do you make a bank fail? </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Savings for 9 million wiped out? </li></ul></ul></ul></ul><ul><ul><li>Business cycle? </li></ul></ul>
  4. 4. Who gets hurt? <ul><li>Stock market investors? </li></ul><ul><li>Farmers? </li></ul><ul><ul><li>Wheat - $1.18 - .49 </li></ul></ul><ul><ul><li>Cotton - .19 - .06 </li></ul></ul><ul><ul><ul><li>What does this mean? </li></ul></ul></ul><ul><li>Factory workers? </li></ul><ul><ul><li>Cut in production? </li></ul></ul><ul><ul><li>No savings left. Why? </li></ul></ul><ul><ul><li>Unemployment rises to 25%. </li></ul></ul><ul><ul><ul><li>What does this mean? </li></ul></ul></ul><ul><ul><ul><ul><li>Today that number is 5%! </li></ul></ul></ul></ul>
  5. 5. World wide implications? <ul><li>Europe and WWI </li></ul><ul><ul><li>Holly-Smoot tariff? </li></ul></ul><ul><ul><ul><li>America raised tariffs to protect American businesses. </li></ul></ul></ul><ul><ul><ul><li>Impact on Europe? </li></ul></ul></ul><ul><ul><ul><ul><li>Impact on Germany? </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Reparations? </li></ul></ul></ul></ul><ul><li>German industry was supported by American investments. </li></ul><ul><ul><ul><ul><ul><li>What happens to Germany businesses and banks? </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Unemployment? </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Inflation? </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Taxes? </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Hitler’s rise? </li></ul></ul></ul></ul></ul>
  6. 6. The Dow Jones
  7. 7. American problems <ul><li>Hoovervilles? </li></ul><ul><li>Farm failures? </li></ul><ul><ul><li>What did farmers do to stop prices from falling? </li></ul></ul><ul><ul><li>Dust Bowl? </li></ul></ul><ul><ul><ul><li>60% of dust bowl families lost their farms? </li></ul></ul></ul><ul><ul><ul><ul><li>Where did they go? </li></ul></ul></ul></ul><ul><ul><ul><ul><li>How where they received there? </li></ul></ul></ul></ul>
  8. 8. Women and minorities… <ul><li>Women discriminated against? </li></ul><ul><ul><li>Married women? </li></ul></ul><ul><ul><li>Job opportunities? </li></ul></ul><ul><li>African Americans </li></ul><ul><ul><li>56% unemployed during the depression. </li></ul></ul><ul><ul><li>“ last hired…first fired”? </li></ul></ul><ul><ul><li>Scottsboro boys? </li></ul></ul>
  9. 9. Surviving the Depression… <ul><li>Hobo? </li></ul><ul><ul><li>250,000 riding the trains. Why? </li></ul></ul><ul><ul><li>Dangers? </li></ul></ul><ul><li>Penny auctions? </li></ul><ul><li>21st Amendment? </li></ul><ul><li>Babe Ruth controversy? </li></ul><ul><li>Empire State Building, NY? </li></ul><ul><li>Monopoly? </li></ul>
  10. 10. End of the Roaring Twenties! <ul><li>Pres. Coolidge dies in 1933. </li></ul><ul><li>Babe Ruth Retires, 1935. </li></ul><ul><li>Lindberg baby kidnapped and killed. </li></ul><ul><li>Henry Ford becomes very unpopular among the working class. </li></ul><ul><ul><li>Low wages, long hours, massive layoffs… </li></ul></ul>
  11. 11. President Hoover <ul><li>Agricultural Marketing Act? </li></ul><ul><ul><li>Cost $150 billion and failed. </li></ul></ul><ul><li>Reconstruction Finance Corp? </li></ul><ul><ul><li>Loaned money to large companies and banks. Failed! </li></ul></ul><ul><li>Midterm elections, 1930. </li></ul><ul><ul><li>Republicans lose control of the house and now only control the Senate by 1 vote! </li></ul></ul><ul><ul><ul><li>What's the message people are sending Hoover? </li></ul></ul></ul><ul><li>Hoover Dam (Boulder Dam) </li></ul><ul><ul><li>Hoover starts a work relief program which employs thousands. To little to late? </li></ul></ul><ul><li>Bonus Army, 1932? </li></ul><ul><ul><li>MacArthur and Eisenhower? </li></ul></ul>
  12. 12. Election of 1932 <ul><li>Franklin Delano Roosevelt (FDR) </li></ul><ul><ul><li>New York Senator and Assistant Secretary of the Navy. </li></ul></ul><ul><ul><ul><li>Who else held that office? </li></ul></ul></ul><ul><ul><ul><ul><li>5th cousin! </li></ul></ul></ul></ul><ul><ul><ul><li>Polio and warm Springs, Georgia? </li></ul></ul></ul><ul><ul><li>New Deal? </li></ul></ul><ul><ul><li>Eleanor Roosevelt? </li></ul></ul><ul><li>FDR wins by 7 million popular votes </li></ul><ul><ul><li>472 electoral votes to 59? </li></ul></ul><ul><ul><li>Electoral system? </li></ul></ul><ul><ul><ul><li>Popular vote v. Electoral vote? </li></ul></ul></ul>

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