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The Great Depression in Arkansas
Transcript of The Great Depression in Arkansas
Causes and effects
The stock market crash of 1929
Many consider this the start of the Great Depression, although the road to this point began much earlier. When the market crashed, it led to a vicious circle:
Drought of 1930
Further damaged the economy which was still reeling from the flood and the market crash
Led to food shortages and riots in some areas
Left much of the farmland worthless and not able to produce crops
The Great Flood of 1927
At its height, as much as 13% of Arkansas was under water
Crippled farming and the economy, due to loss of houses, crops, roads, and railroads
This was devastating for the 80% of Arkansans who lived off of agriculture
Left the state very poor and ill equipped to deal with any more disasters
Banks begin to fail...
Because of the lack of money, banks began to dry up quickly
By 1933, almost half of the banks in Arkansas had closed their doors
There was no federal bank insurance, such as the FDIC today, so when the banks closed, they people with deposits lost everything
The Great Depression in Arkansas: Cause and Effect
Dropping cotton prices in the 1920s
Flood of 1927
Stock Market crash of 1929
Drought of 1930
Left Arkansas very poor
Prices dropped and people lost their jobs
Many banks closed down
Johnny Cash and the Dyess Colony
Tenant farmers during the Great Depression barely made enough for food
Federal Emergency Relief Agency (FERA) purchased land in Arkansas to "resettle" some of the poor farmers
They were given the opportunity to own the land after a few years of work
Only 500 families were chosen for the project...one being the family of Johnny Cash
for more information, visit www.encyclopediaofarkansas.net
How would your life have been different if you lived during the Great Depression?
Out of the things you have now, what do you feel like you could live without?
What would you miss the most?
The cycle starts and ends with.......
People have no money!
When people have no money.........
People don't purchase goods!
When people don't purchase goods.....
Manufacturers produce less goods!
When manufacturers shut down production...
Workers lose their jobs and have no money!
Floodwaters in Dixie (Woodruff County); 1927. (www.encyclopediaofarkansas.net)
Destitute Ozark family, Arkansas
(courtesy Library of Congress)
Security Bank in Paragould (Greene County); 1910.
The Great Depression
Johnny Cash "Five Feet High and Risin'"
Written about the Flood of 1937 in Dyess, AR