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Standards

Standards. SSUSH17 The student will analyze the causes and consequences of the Great Depression. SSUSH18 The student will describe Franklin Roosevelt’s New Deal as a response to the depression and compare the ways governmental programs aided those in need. The Great Depression.

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Standards

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  1. Standards • SSUSH17 The student will analyze the causes and consequences of the Great Depression. • SSUSH18 The student will describe Franklin Roosevelt’s New Deal as a response to the depression and compare the ways governmental programs aided those in need.

  2. The Great Depression

  3. Preview and Processing • What does it mean when a stock market crashes? • Why would the stock market crash of 1929 cause the Great Depression? • Could a Great Depression happen in 2014? Why or why not?

  4. An economy headed for trouble • 1920’s=era for ‘false prosperity’ • While some industries soared, others faltered • Eventually, all industries started to weaken • Farmers were in need of help • During the war=crops were in high demand • Post war=prices for crops decreased more than 40% • Farmers kept production high, hoping to sell crops • Farmers foreclosed on their land • Price Supports • Coolidge vetoed

  5. The start of economic troubles • Overproduction • During the 1920’s consumerism=HIGH • Production increased to keep up w/new technologies • Producers believed they would sell the surplus: • Invested in new machines, new stock, and more workers=which increased overproduction • Under consumption • Production rising=consumers buying less • Rising prices, stagnant wages, unbalanced distribution of income, and the overbuying on credit in the previous years • Living on credit  living beyond means

  6. The 1928 election • Herbert Hoover vs. Alfred E. Smith • Hoover won • “We in America are nearer to the final triumph over poverty than ever before” • Americans ignored all the warnings signs

  7. Happy Days Are Here Again video

  8. The Stock Market • In 1929 about 3% of the nation’s population owned stock • Dow Jones Industrial Average • Stock market was not regulated • Buying on margin • Buying stock on credit • Speculation • buying stocks & bonds on a chance that they would receive a quick profit

  9. Stock Market Crash of 1929 First Hits: Sept. 1929 Oct. 24 1929 Black Thursday The crash Black Tuesday Oct. 29, 1929 The market lost $14 billion in value for the day $30 billion for the week

  10. Video: Bank Run Audio: Dorothy Mason talks about the Depression

  11. The crash • Americans were in a state of financial collapse • Had lost faith in the stock market

  12. Making the Connection • In your opinion, how important do you think public confidence is in the health of the economy? • Do you think the peoples reaction to the crash was justified?

  13. The Effects of the Stock Market Crash • Americans panicked, and took their money from banks • Banks invested in stock market too • In 1929, a total of 600 banks had closed • 1933: 11,000 out of 25,000 of the nations banks failed • No FDIC • Businesses failed • Unemployment surged • One out of every four workers was unemployed • Worldwide depression • U.S. had no funds to purchase European imports  • Which made it difficult to sell American products abroad

  14. Brother Can you Spare a Dime? • Activity: Exhibits 1-8

  15. The Great Depression • 1929-1939 • American people suffered great hardships • Unemployment • Homelessness • Other basic necessities were not met • For three years the stock prices continued to decline • No money to buy goods, no production=no jobs=higher & higher unemployment

  16. Life in the U.S. In the rural areas In the Cities • Shantytowns • Soup kitchens and bread lines • Minorities conditions were difficult • Unemployment for minorities  higher • Dealt with racial violence and discrimination • Not in city, able to grow crops • If the farmer had retained his land • Tenant farming

  17. The Dust Bowl

  18. 1930’s  Drought and winds came • No water=no crops=dry soil • Winds would stir up soil and blow up tons of dust for miles • Areas most affected: Kansas, Oklahoma, Texas, New Mexico, and Colorado

  19. Hoover’s response • Tried to restore confidence in the American people • In his mind, American’s should remain optimistic • Business cycles go up and down • Periods of economic growth are normally followed by periods of depression • Politically • Government should help with competition • Opposed federal programs of aid and direct relief • Rugged individualism • People were frustrated with his philosophies • Saw him as cold and heartless

  20. Hoover Dam • In 1929, the authorization for Boulder Dam (Hoover Dam) came through • Supplied water to seven states • Supports California’s agricultural economy • Supplies water for largely populated cities: L.A. and Las Vegas • World’s tallest, second largest dam • 726 ft. tall, 1,244 ft. long

  21. The Bonus Army March • WWI veterans who assembled in Washington, D.C., to fight for their bonuses to be paid • About 17,000 soldiers (veterans and families)

  22. HOOVER MAKES THEM LEAVE

  23. Video: Bonus Army March http://www.youtube.com/watch_popup?feature=player_embedded&v=sNOsIB5VMSQ

  24. The New Deal

  25. A new president comes to office • Franklin Delano Roosevelt • 32nd president of the U.S. • Took office in 1933 • Ready for change • Audio clip: inaugural address

  26. Fireside Chats • First=March 12th, day before banks reopened • Radio talks about issues concerning public • Informal • American’s felt close w/President

  27. Rural Electrification Administration (REA) • Regulate public utilities • REA  provide electricity to rural areas • 1935: only 12.6% of Am. Farms had electricity • 1945: 48%

  28. American Liberty League • Critics of New Deal (ND) legislation • Opposed ND and believed it violated respect for the rights of individuals & property • 3 tough critics: • Charles Coughlin • Dr. Francis Townsend • Huey Long • Expressed views appealing to poor

  29. FDR’s second term • Still not enough gains in economy • President wanted to see more growth • Encouraged by his wife, Eleanor Roosevelt • Eleanor: a social reformer • Humanitarian • Fought for women’s rights in gov’t

  30. Improving the working conditions • 2nd New Deal brought reforms to labor • Wagner Act= collective bargaining • Protected rights of workers to join unions • Prohibited unfair labor practices • Threatening workers • firing union members • interfering w/union organization • National Labor Relations Board (NLRB) • Hear testimony about unfair practices • Fair Labor Standards Act (1938) • Max. 44 hrs p/week  40 hrs p/week • Min. wage .40 p/hr.

  31. The Impact of the New Deal • New Deal effectively ended by 1939 • Roosevelt more concerned w/Europe  Hitler • New Deal caused gov’t to go into debt • Federal deficit increased • New Deal brought hope for the people • Provided jobs and income for families • Criticism = too much government involvement • Too much spending • Deficit necessary for programs increased as the nation entered yet another World War…

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