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The Great Depression

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Christina Arias

on 21 February 2018

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Transcript of The Great Depression

The Great Depression
2/20 Catalyst: Do you think the Federal Government should step in when the nation is facing an economic crisis? Why or why not?

The Domino Effect
Bank & Business Failures
The Market crash brought panic to the people
Many started to withdraw money from the banks
1929- 600 banks closed
1933- 11,000 of the 25,000 banks failed
1929-1933 Gross National Product cut in half from $104 bill to $59 bill
90,000 businesses went bankrupt
Millions lost their jobs (Unemployment went from 3% -> 25% within four years
1 out of 4 workers were out of a job
World experienced Depression
The Depression takes hold
people lost jobs, were evicted, ended up on the streets
Shantytowns- little towns of shacks made from whatever people could find
Soup kitchens & bread lines became a common sight
African Americans and Latinos faced difficult conditions
unemployment rates were higher
paid the lowest
Had to deal with increasing racial violence from unemployed whites competing for the same job
24 African Americans died from lynching in 1933
Latinos were demanded to deport or be expelled from the US
The Depression in Rural Areas
400,000 farms were lost to foreclosures
The Dust Bowl:
Drought ran rampant on the Great Plains
Farmers had overworked the land making it unsuitable for farming
Kansas, Oklahoma, Texas, New Mexico, and Colorado hit hardest and was known as the Dust Bowl
Flood of farmers came to California and found work as farmhands, many were called 'Okies' as a negative term
The 'Roaring' 20's ends with a crash
Steps that led to Great Depression:
tariffs and war debt policies that cut down the foreign market for American goods
Farmers struggling
Living on Credit
Uneven distribution of Income

October 29, 1929 (Black Tuesday):
The market continued to fall causing fear in investors
People started to frantically try to sell the stocks
16.4 million shares were dropped
The crash of the Stock Market was the beginning of the Depression
Quote from a man describing bread lines:
“ Two or three blocks along Times Square, you’d see these men, silent, shuffling along in a line. Getting this handout of coffee and doughnuts, dealt out from great trucks. . . . I’d see that flat, opaque, expressionless look which spelled, for me, human disaster. Men . . . who had responsible positions. Who had lost their jobs, lost their homes, lost their families . . . They were destroyed men.”
Full transcript