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1929 Crisis

1929 Crisis

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1929 Crisis

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Presentation Transcript

  1. 1929 Crisis The Crash and its Solution

  2. The USA in the 1920s

  3. The USA in the 1920s • It was an age of consumerism • There was a desire of enjoying life • Some social groups lived in a situation of poverty: • African-Americans • Women • Farmers

  4. The Economic Boom • After WW1 the US was not directly affected and they sold their products • The economic boom affected society • Motor industry grew rapidly

  5. The Economic Boom • Causes: • Isolationism • Out of foreign affaris • High tariffs • Technology • Mass production (automobiles) • Hire purchaseHigher demand for goods • Shares

  6. Industry • Traditional such as coal and textile did not prosper • As a response to high American tariffs other countries put high tariffs too • Mass production techniques

  7. Agriculture • Farmers were encouraged to produce more during WW1 • After war they continued producing more than what they could sell • Prices dropped

  8. Social Problems • Few people were extremely rich • 42 per cent of population lived below the poverty line

  9. Racism • There were lots of nationalities • Tolerance began to be under attack • The Ku Klux Klan started in the South but spread to other parts of America

  10. Causes of the Depression • The offer was higher than the demand • Too much food was produced • Banks were too small • Speculation on the stock market • Wall Street Crash

  11. The Crash Animation: http://www.ngfl-cymru.org.uk/vtc/ngfl/history/gcse_usa_rev_elander/sheet1.htm

  12. Effects of the Depression • Unemployment • Industrial production dropped • House-building fell • Banking system collapsed • People death from starvation

  13. The New Deal

  14. The New Deal: Agencies • TVA: flood control and dam building • National Recovery Administration • AAA: solve agriculture problems • CCC: offered jobs for conservation projects • PWA: constructed public buildings

  15. New Deal’s Results • Possitive: • People trusted businesses again and started investing • Old people and disabled people got pensions • Workers had better wages and more rights • Millions of jobs were created • Industry and agriculture began to recover • FDR won the 1936 election • Roosevelt was very popular • America remained a democracy

  16. New Deal’s Results • Failures: • Blacks and women did not have equal rights • Many small farmers and city workers especially blacks remained out of work • In 1939 there were 9 million unemployed in America • The Depression did not end until WWII

  17. New Deal. Conclusion • There was quite a lot of opposition to the New deal: • Some people said it gave FDR too much power • Republicans said it would make things worse • Southerners said it interfered too much in local government • Businessmen sait it was an attack on free enterprise and made it too hard to make profits • The Supreme Court said some bits of it were unconstitutional