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Ch 17 . The Great Depression. Section 1. The Election of 1928 A. Candidates 1. Republicans-Herbert Hoover 2. Democrats-Alfred E. Smith B . Issues 1. Prohibition 2. Religion a. Anti-Catholic smear campaign 3. Prosperity of the 1920’s C. Results 1. Hoover in a landslide.

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ch 17

Ch 17

The Great Depression

section 1
Section 1

The Election of 1928

A. Candidates

1. Republicans-Herbert Hoover

2. Democrats-Alfred E. Smith

B. Issues

1. Prohibition

2. Religion

a. Anti-Catholic smear campaign

3. Prosperity of the 1920’s

C. Results

1. Hoover in a landslide

slide3

II. The Bull Market

A. Stock Market

1. stock

2. bull market

B. Buying on Margin

1. Risks and Rewards

2. Margin Call

C. Speculation

III. The Great Crash

A. Lack of new investors

B. Margin Calls

C. Black Tuesday

D. Banks

1. Where is your money?

2. Loan defaults

3. Bank Runs

slide4

IV. The roots of the depression

A. Overproduction B. Uneven distribution of wealth

1. 5% of Americans owned 30% of $

C. Low wages

D. The Installment Plan

E. The Hawley-Smoot Tariff

1. Fewer over-seas sales

F. Federal Reserve Board

1. Lowered interest rates

2. Banks made risky loans

3. Businesses spent $ to expand

section 2
Section 2

The Depression Worsens

A. By 1933

1. Thousands of banks had closed.

2. Millions of Americans were unemployed

3. Bread Lines and Soup Kitchens

slide10

B. Homelessness

1. Court-ordered evictions

2. Bailiff-Court Officer

C. Shantytowns or “Hoovervilles”

1. Hooverisms

a. Hoover Blanket

b. Hoover Bed

c. Hoover Flag

d. Hoover Chicken

2. Hobos

slide14

D. Farmers

1. Crop prices drop

2. Uncultivated land

3. Drought

E. “The Dust Bowl”

F. “Okies”

1. Left the Great Plains and headed West for California.

slide20

II. Escaping the Depression

A. The Movies and the Radio

1. Overcoming Hardship

2. Achieving Success

B. Movies

1. Walt Disney

Snow White and the Seven Dwarfs

2. The Wizard of OZ

3. Mr. Smith Goes to Washington

4. Gone with the Wind

C. Radio

1. Comedy Shows-George Burns

2. Dramas-The Lone Ranger

3. Soap Operas-The Guiding Light

slide21

III. The Depression in Art

A. Artists-

1. Thomas Hart Benton

2. Grant Wood

B. Writers

1. John Steinbeck- “The Grapes of Wrath”

2. William Faulkner-Stream of Consciousness

section 3
Section 3

Promoting Recovery

A. Hoover held conferences with –

1. banks

2. railroads

3. big business

a. Promised to keep factories open and stop cutting wages

b. Could not keep the promise

4. labor

5. government

B. Public Works

1. Asked States to increase public works

2. Refused to increase federal spending or taxes

slide25

C. Americans blamed the Republicans

1. lost 49 seats in the House of Reps.

II. Pumping $ Into the Economy

A. Hoover asked Fed. Reserve to put more money into circulation

- They refused

B. National Credit Corporation (NCC)

1. To rescue banks

2. Not enough to help

C. Reconstruction Finance Corporation (RFC)

1. To make loans to banks, railroads and farmers

2. Did not loan enough

D. Hoover opposed the Fed. Government giving out direct relief

1. Responsibility of State and Local Govt.

slide26

E. Emergency Relief and Construction Act

III. In an Angry Mood

A. Looting, rallies and hunger marches

B. 1930-34 almost 1,000,000 farms forclosed.

1. Many farmers destroyed their crops hoping to drive up prices.

C. The Bonus Army

1. WWI vets asking for their bonuses 2. Hoover refused to meet with them

3. Bill was voted down

4. Hoover ordered the police and the army to clear them out