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The Great Depression :(
Transcript of The Great Depression :(
Stock Market Crash
Major Causes of
The Great Depression
Almost 1/4 of the work force became unemployed
Causes of Dust Bowl
Loss of grasses-
Signaled the beginning of the great depression
Lack of new investors in the stock market caused stock prices to drop in 1929
So... on Oct. 29, 1929
...Prices fell drastically!
Resulting in $10-$15 billion loss in value
was meant to protect US industry yet had the opposite effect
Other countries enacted their own tariffs and world trade soon fell by 40%
Almost half of the banks in us failed
People never paid back the banks which caused many to lose there life savings
Unemployed workers or people who couldn't afford food would go to soup kitchens.
Run by churches or private charities
The Capuchin Service Centers
in southeast Detroit served
about 1,500 to 3,000 people a day.
AL CAPONE (notorius gangster) established one of the first soup kitchens in order to clean up is name and served up to 3 meals a day
Unemployment had risen from 3% to 25% and wages had fell 42%
Most Americans had a really hard time finding work
Reduction of Purchasing
...filled with shacks built by homeless people
Got its name from the populations disgust with President Hoover
Was the reason for the increase of unemployment
Believed in Laissez-Faire
Was the reason of bank failures
Didn't do anything at the start of Stock Market Crash
organized and authorized the Boulder (aka Hoover Dam)
this dam provides electricity, flood control, and water for 7 western states.
Created Federal Farm Board to help Farmers
1932 requested for Reconstruction Finance Corp.(RFC)
RFC empowered to borrow up to $2 billion to assure the survival of the banks,railroads, farm mortgage associations,savings and loan associations and life insurance companies.
President during The Great Depression
Struggled with Great Depression
believed in "rugged individualism"
the idea that people succeed through their own efforts
What was one pro during Hoovers presidency?
Dust Bowl Refugees AKA
People who fled to California to work in agriculture.
Became a source of CHEAP labor.
Franklin D. Roosevelt
1st New Deal
2nd New Deal
March 9- June 16, 1933
Congress passed 15 major acts only after 100 days of FDR being in office!!
(Okies were not welcome)
A series of severe dust winds and drought in the 1930's
Greatly damages the ecology and agriculture in US
This New Deal act ensured people government insurance for any bank deposits up to
On August 14, 1935, the Social Security Act established a system of old-age benefits for workers, benefits for victims of industrial accidents, unemployment insurance, aid for dependent mothers and children, the blind, and the physically handicapped
A program of the New Deal in the 1930s. The WPA built sidewalks, government buildings, and similar public works throughout the United States.
Spent 11 billion over several years, employed many people who could not find other jobs.
Most controversial aspect was offering work to artist, musicians, theater people, and writers.
The government paid farmers to not
harvest specific crops to lower the crop production.
Role in government changed
Left people feeling that it was the governments responsibility to provide a
Stronger security & Stability
Wife of FDR
He cheated on her but they stayed "together" in order to keep his reputation
She was the first lady who was a strong advocate of Civil Rights
helping the poor
standing up for what she believed in even if she was going against her own husband.
Court Packing Plan
1937- FDR wanted to expand the supreme court to as many as 15 judges
Critics automatically could see what he was trying to do...
As president he gets to pick the people on the Supreme Court
Congress did NOT allow it
After this scheme people thought he was a bit shady
TO PREVENT BANK RUNS
His #1 priority was to fix the banks
all of the banks close down
Roosevelt spoke directly to citizens in his "fireside chats" assuring the banks were secure
The following day deposits in every city outweighed withdrawals
ENDING BANK CRISIS
This New Deal program hired people to construct hydroelectric plants and dams to help attract industry in the South.
It helped provide navigation, flood control, electricity generation, fertilizer manufacturing, and economic development in the Tennessee Valley,,
a region that was greatly affected by the Great Depression. To this day they are still around and the TVA carries $25 billion dollars in debt.
The government hired young men to work with the national forestry service. They were provided with shelter, clothing, food, and a small wage of $30 a month.
CCC volunteers planted nearly 3 billion trees to help reforest America, constructed more than 800 parks nationwide and upgraded most state parks, updated forest fire fighting methods, built a network of service buildings and public roadways in remote areas.
Congress voted to close the program by 1942.
Its purpose was to maintain public confidence and encourage stability in the financial system through the promotion of sound banking practices
This agency is still around to day and now it insures any deposit up to $250,000.
Created many agencies that would help the
economy and Great Depression.
The New Deal had 3 goals or 3 R’s:
Its overall objective was to provide
a safety net for people.
This deal dealt with diverse groups all of which demanded immediate help for economic survival.
Its purpose was to reduce crop surplus and effectively raise the value of certain crops.
In 1936 the Supreme Court declared this act unconstitutional.
people couldnt afford homes so they moved to.....
Provided security for the elderly ages 65 and up
Also provided welfare for needy people
The Securities Exchange Act of 1934 was created to provide governance of securities transactions on the secondary market (after issue) and regulate the exchanges and broker-dealers in order to protect the investing public.
Created to regulate the stock market and prevent fraud.
requested for RFC
organized and authorized Hoover Dam
created Federal Farm Board
Checking For Understanding..
What were some causes of the Great Depression?
Stock Market Crash
Reduction of purchasing
Opposite of Laissez-Faire
Government was "Hands On"
Increased union membership
Controlled industrial production and prices with industry
Tennessee Valley Authority
HELPED STATE AND LOGICAL AGENCIES FUND RELIEF PROJECTS
FEDERAL EMERGENCY RELIEF ADMINISTRATION
Public Works Administration
Gov't hired workers directly
built large-scale public works such as dams, bridges, hospitals,and schools
Put on governments payroll
created and infrastructure that generated national and local pride in 1930's
CIVIL WORKS ADMINISTRATION
Created construction jobs
Mainly IMPROVING or constructing buildings and bridges
Hired by CONTRACTORS
Created under FERA
Jobs were temporary
In 1935 Roosevelt began a series of programs called the second new deal
Hoped to bring economic recovery
Asked congress for funds to provide work relief and increase jobs
Much of the money they received would go to the WPA (workers Progress Administration)
Social Security Act
organized industrial unions
said it had formed to encourage
At what percent was the peak of unemployment?
What did FDR do to help people get through the Great Depression?
Created acts that offered jobs
Set up Bank Holidays
Provided fire side chats
Made up of WW1 Veterans and their families
About 15,000 world war 1 veterans arrived in Washington to support a proposed bill
Hoover called the bonus army “communist and criminals”
A 1932 incident that had further damaged Hoovers image
President Franklin D. Roosevelt helped the people get through the Great Depression ( UNLIKE HOOVER) by creating programs that gave the people jobs.
----- HIS FIRST ACTION AS PRESIDENT WAS THE BANKING ACT
Only president to serve more than 2 terms in office.
" The only thing we have to fear is fear itself"
Promised LEADERSHIP & ACTION, asked for PROTECTION & GUIDANCE
He also provide this New Deal Legacy..
What was Eleanor Roosevelt an advocate to?
Which Acts provided jobs?
WWII FINALLY PULLED THE US OUT OF THE GREAT DEPRESSION!
The Great Depression and the New Deal dramatically changed the lives of most Americans and began to change both their understanding of the economic system and the role of government in American life.
The Big Idea
1. Pick team names for each side of the room :)
2. You guys will have ONLY 2 minutes to name AND draw as many New Deal acts as you can on your team's side of the white board.
3. You will pick your first player to come up to the front of
the classroom as we begin the game.
4.Once you are done and have completed
your picture, hand the white board marker to
your next player.
5. Once the timer has rung, your time is up, markers closed!
TEAM WITH THE MOST COMPLETED PICTURES(w/ short explanation for each)....
National Recovery Administration
Agriculture Adjustment Act
Securities and Exchange Act
Works Progress Administration
Great Depression showed how important the government in peoples' lives
Unemployment remained HIGH
Economic recovery was not complete until WWII
New Deal Legacy