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USE THE READING STRATEGY TO READ CHAPTER 15

USE THE READING STRATEGY TO READ CHAPTER 15. Causes of the Depression. Stock Market Buying on margin & stock speculation Selling at a loss Bank closings. 2. BANK FAILURES.

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USE THE READING STRATEGY TO READ CHAPTER 15

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  1. USE THE READING STRATEGY TO READ CHAPTER 15

  2. Causes of the Depression • Stock Market • Buying on margin & stock speculation • Selling at a loss • Bank closings

  3. 2. BANK FAILURES Throughout the 1930s over 9,000 banks failed. Bank deposits were uninsured and thus as banks failed people simply lost their savings. Surviving banks, unsure of the economic situation and concerned for their own survival, stopped being as willing to create new loans. This exacerbated the situation leading to less and less expenditures

  4. CAUSES OF THE GREAT DEPRESSION • AGRICULTURAL OVERPRODUCTION • INDUSTRIAL OVERPRODUCTION • POOR FISCAL POLICY • EASY MONEY (CREDIT) • HIGH TARIFFS • POOR MONETARY POLICY • OVERSPECULATION +MARGIN BUYING • UNEVEN DISTRIBUTION OF WEALTH • POOR ENVIRONMENTAL POLICIES & PRACTICE

  5. Causes of the Great Depression • The global economic crisis decreased exports. • Unequal distribution of income reduced the total purchasing power available in the economy. • Consumer debt undermined individuals and increased economic chaos.

  6. MarketCauses of the Depression • Stock Market • Buying on margin & stock speculation • Selling at a loss • Bank closings

  7. Causes of the Depression • Stock Market Crash • Get out while the getting’s good • Black Thursday • Black Tuesday CLICK TO SEE BLACK TUSEDAY VIDEO

  8. Coolidge Harding Hoover Causes of the Depression • Government policies on business • Laissez-faire policies • Unprecedented growth • Who’s to blame?

  9. Reasons for the stock market crash of 1929 • Economic factors such as rising interest rates began to worry investors. • Investors sold stocks. • Stock prices dropped sharply, fueling panic. • Heavy selling continued.

  10. Reasons for the stock market crash of 1929 • Economic factors such as rising interest rates began to worry investors. • Investors sold stocks. • Stock prices dropped sharply, fueling panic. • Heavy selling continued.

  11. Causes of the Depression • Stock Market Crash • Get out while the getting’s good • Black Thursday • Black Tuesday

  12. Causes of the Great Depression • The global economic crisis decreased exports. • Unequal distribution of income reduced the total purchasing power available in the economy. • Consumer debt undermined individuals and increased economic chaos.

  13. Buying on Margin Video Single click screen to view video

  14. Hoover’s opposition to government relief during the Great Depression President Hoover believed that individuals and businesses should be self-reliant and that government help would create a bureaucracy.

  15. Radical response to Hoover’s policies • staged protests • became involved legally Veterans’ response • gathered in Washington D.C. to demand payment of their pension bonuses

  16. Causes of the Depression • Unstable economy • Standard of living is up • Credit • Rookie stock owners

  17. Events signaling the Great Depression • Banks failed due to heavy defaults, margin calls, and heavy withdrawals. • Bank failures deprived businesses of necessary resources and customers. • Businesses closed and workers lost their jobs.

  18. Psychological Impact • Responsibility • Self-reliance • Merit-based rewards • Self blame & doubt

  19. Psychological Impact • Anxiety • Factories close • Inflation up • Foreclosures • Hunger

  20. Psychological Impact • Depression • Humiliation • Brother, Can You Spare a Dime? • Expectations • Help??? Single click speaker to hear audio clip >>>>

  21. Psychological Impact • Suicide • Numbers climb • Mostly males • War effects

  22. Physical Impact • Hunger & Diet • Poor eating = bad health • Malnutrition is prevalent

  23. Physical Impact • Inadequate medical care • “Luxury”? • Long-term effects • Low priority Picture from the Franklin D. Roosevelt Library, courtesy of the National Archives and Records Administration.

  24. Impact on the Family • Women forced to work • The argument versus the reality • Women were less likely to lose jobs • Women actually gained jobs

  25. Impact on the Family • Children and teens forced to work • Teenage workers • Role reversal

  26. President Hoover’s Philosophy • No government help • Bureaucracy • Work ethic • Homerville's

  27. Hoover Video Single click screen to view video

  28. President Hoover’s Actions • Raising import taxes • Public worksprograms • Reconstruction Finance Corporation

  29. Farm Problems • Farmers suffer too • Three main causes

  30. Farm Problems • What a pest... • Boll weevil • Irresponsible • Single-crop farming

  31. Dust Bowl • No more rain • Dust storms • Poor plowing techniques • Lost topsoil

  32. Dust Bowl Map

  33. Dust Storms • Black Blizzards • Black Sunday • Dust Pneumonia

  34. Bennett Conservation Efforts • Last Man’s Club • Hugh Bennett • The Plow that Broke the Plains • The ultimate visual aid

  35. “Okies” • Headin’ West • California – the Promised Land? • Route 66 • The Grapes of Wrath

  36. Route 66 Map

  37. “Okie” Problems • Unwanted • Pickers

  38. Socialism??? • Emigration • Huey Long • “Share the Wealth” • “Every Man a King” Long

  39. The People’s Response • Bonus Army • 1932 election

  40. FDR—The Common Man • Happy Days are Here Again! • Polio • Contact with farmers • “Champion of the Common Man” • “The only thing we have to fear is fear itself” FDR Single click speaker to hear audio clip >>>>

  41. Fireside Chats • Reassurance • Restoring trust • Weekly addresses

  42. The New Deal • Reforms to put America back to work • Alphabet Soup government • Short-term solution • Brings government into business

  43. New Deal—Banks are Back! • Restoring bank confidence • One-week bank holiday • Federal Deposit Insurance Corporation (FDIC)

  44. New Deal Programs • Tennessee Valley Authority (TVA) • Agricultural Adjustment Act (AAA) • Civilian Conservation Corps (CCC)

  45. New Deal Programs • Federal Arts Program (FAP) • Works Progress Administration (WPA)

  46. Labor Issues • Power to the owners • AFL-CIO split • Presidential support for workers • Accomplishments

  47. Prohibition Repealed • 21st Amendment • Violation of personal liberty • Revenue source • Political leanings

  48. McPherson Welles Radio • War of the Worlds • Swing music • Evangelists Single click speakers to hear audio clips >>>>

  49. Benny Winchell Radio • Gossip columnists • Comedy • Auto advertising Single click speakers to hear audio clips >>>> Advertisement Benny Burns

  50. Dorsey Big Band Music of the ’30s • Swing music • Band leaders Miller Single click speakers to hear audio clips >>>> Miller Ellington

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