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The Great Depression
Transcript of The Great Depression
of the 1930's reached into all levels of society,
all geographic locations, and ALL aspects of life
28 percent of the population had no income
40 percent of the people on government relief were children
1/3 of a million children in 1932 could not attend public
schools because the schools lacked funds to open
2 million people without homes or work took to the
rails and walked the highways, living as hoboes
So what caused the Great Depression?
1. The Stock Market
During the 1920s people wanted to make money quick in the stock market using:
Buying on margin
: industries were producing more
than they could sell and high
(taxes) discouraged international trade
3. Bank Failures
NO Government regulations
25 percent of banks failed
Federal Reserve failed to prevent banks from collapsing
People were left hungry and homeless turning to soup kitchens and "Hoovervilles"
Franklin Roosevelt took office March 4, 1933,
stating, "I pledge you, I pledge myself, to a new
deal for the American people."
FDR's New Deal program used government programs
to help the nation recover from the Depression
These programs focused on:
Giving people immediate
through programs that provided food and shelter.
Creating jobs for a long-term
Preventing future economic
FDR's Fireside Chats reassured Americans the country was going to recover as well as shared his hopes and plans for the country
So what were the major programs within the New Deal?
So how did America recover from the Great Depression?
What was the Great Depression?
It was a time in the US when there was little money and ecnomic growth.
What's a Hooverville?
A town built by homeless people during the Great Depression named after the president of the United States, Herbert Hoover.
To buy stock that is high risk so you make a large profit when you sell it (get rich-quick scheme)
buying shares of stock with borrowed money that is to be repaid when the shares are sold
What is the Stock Market?
the business of buying and selling shares of ownership in a company
Then on October 24, 1929, thousands of
investors wanted to
their stock, NOT
them so on October 29, 1929 the Stock
and nearly everyone lost $
After crash, people could not repay
The Stock Market Crash day is remembered as
Impact on American People
Large number of
were without jobs.
incomes fell to low levels
Large numbers of people were