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The Great Depression

The Great Depression. Response to the Economic Collapse. • At this time, nearly one in four Americans was unemployed. More than 13 million Americans had lost their jobs since 1929. • Roughly 10,000 banks had failed since 1929. • About $2 billion in deposits were lost since 1929.

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The Great Depression

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  1. The Great Depression Response to the Economic Collapse

  2. • At this time, nearly one in four Americans was unemployed. More than 13 million Americans had lost their jobs since 1929. • Roughly 10,000 banks had failed since 1929. • About $2 billion in deposits were lost since 1929. • Per capita income fell from $681 in 1929 to $495 in 1933.

  3. Politicians didn’t all agree on how to solve these problems. Imagine that you are a government official. What will you tell the children in the picture you will do to help them and their families?

  4. 1 “America won’t let you down, kids. If your parents work really hard, they will eventually find jobs to support you and your family. In this country, hard work and perseverance always pay off. Maybe for right now, though, your church or a charity near your home can help your family. Personal responsibility and local organizations are the answers to your problems.”

  5. 2 “I feel truly horrible about your situation. You must be very hungry. But help is on the way. Soon the government will start programs to provide jobs for your parents. The government will make sure you are fed, too. The president and Congress will help you. More government programs are the answer to your problems.”

  6. 3 “Wealthy Americans must stop being so greedy! The government needs to tax the wealthy heavily and give some of that money to those who live in poverty. Redistributing or sharing the wealth is the answer to your problems.”

  7. You will now learn about the many views Americans held on how the government should respond to the economic crisis facing the nation. Government leaders had to try to choose the best policies and actions to meet the needs of millions of Americans. Supporters of various political ideologies disagreed on the best response. Presidents Hoover and Roosevelt chose to respond differently to the crisis.

  8. The conservativeideology supports letting the economy stabilize by itself and opposes large governmental efforts to effect change. Conservativesbelieved that the economy would recover on its own, without government interference.

  9. The liberal ideology supports government involvement in the economy. Liberals believed that the federal government had a responsibility to relieve Americans’ misery with public works projects and social welfare programs. They also called on the government to use its power to help the economy recover.

  10. The radical ideology supports sweeping changes to society, including the economy. Communist radicals hoped to do away with capitalism and give the federal government control of the economy.

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