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The Great Depression: Causes and Effects

Learn about the economic practices, consequences of the Dust Bowl, and President Hoover's response to the Great Depression.

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The Great Depression: Causes and Effects

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  1. US History II Day 10Monday 2-6-12 The Great Depression

  2. QUIZ!! L19

  3. Which economic practice became significantly more widespread during the 1920s? A.  governmental regulation of business B.  stock market speculation  C.  dependence on government welfare programs  D.  reduction of tariff rates Daily EOC Question

  4. Dow Jones Industrial Average • Credit • Speculation • Buying on the margin • “Black Tuesday” • Shanty town • Dust Bowl • Direct relief • Depression • Hoovervilles • Bonus Army • Reconstruction Finance Corporation • Federal Home Loan Bank Act L19 – Do 7 Wikiwords of the definitions with a partner Goal 9 – The 30s Vocab R20

  5. US History II Day 11Tuesday 2-7-12 Goal 9.2 The Crash

  6. Have you ever heard the saying “what goes up must come down?” • Give me an example of something in your life that has followed this pattern. Warm Up L21

  7. Britain, France cannot pay reparations b/c they can’t sell any products • Germany goes bankrupt; Dawes Plan—U.S. investors lend reparations money, good deal for them • Britain, France repay; resentment on all sides Effects of the HS Tariff

  8. International demand for U.S. grain declines after war- prices drop by 40% or more • Farm income declines; farmers default on loans; rural banks fail • People buy less due to rising prices, low wages, debts • Many people buy goods on credit • Businesses give easy credit; consumers pile up large debts • Consumers have trouble paying off debt, cut back on spending Farmers and Debt

  9. Key industries (railroads, textiles, steel, coal) barely make profit • Boom industries—automobiles, construction, consumer goods— now weak • Housing starts decline – always clear sign of the direction of the economy Industries in Trouble

  10. In 1920s, rich get richer, poor get poorer • 70% of families earn less than minimum for decent standard of living • Most cannot afford flood of products factories produce • Dow Jones Industrial Average tracks state of stock market • 1920s, stock prices rise steadily; people rush to buy stocks, bonds • Many engage in speculation, buy on chance of a quick profit • Buying on margin—pay small percent of price, borrow rest The Gap

  11. September 1929 stock prices peak, then fall; investors begin selling • October 29 or Black Tuesday, markets plummet • Shareholders sell frantically; millions of shares have no buyers • People who bought on credit left with huge debts -Others lose most of their savings • Great Depression—economy plummets, unemployment skyrockets • - lasts from 1929–1940 • After crash, people panic, withdraw money from banks • Banks that invested in stocks fail; people lose their money Black Tuesday

  12. The economic boom and the financial speculation of the 1920’s were caused in part by A) installment buying and an unregulated stock market B) the expansion of civil rights to women and minorities C) the mobilization of the economy for war D) increased government restrictions on big business Daily EOC Question

  13. During WWI ____ and _____ production increase War Ends Demand _____ and Industry _______ Wages ______ Prices ______ People buy with ______ and create ______ People buy stocks on ______ to get rich quick Stock prices ______ and people try to _______ People _____ and banks ______ Great Depression L21

  14. US History II Day 12Wednesday 2-8-12

  15. QUIZ!! L23

  16. How much does our nation depend on farming? • What does their job depend on? Think about it… Do Not Write

  17. One result of the "Dust Bowl" was that? • A. California became the most populous state in the Union. • B. Mexican-Americans and African-Americans took advantage of the opportunity to settle abandoned land. • C. big, industrial agricultural cooperatives broke up into smaller units. • D. several million people on the Plains abandoned their farms and moved West. Daily EOC Question

  18. Guided Notes on R24 on The Great Depression Processing Activity – L 23 Write a letter to family back East describing the Dust Bowl 15 sentences 5 facts Date Place

  19. US History II Day 13Thursday 2-9-12 Hoover Deals with the Depression

  20. Who does our country blame when there are economic problems? Who is to blame for our country’s current economic problems? Warm Up L25

  21. President Herbert Hoover tells Americans economy is sound • Many experts believe depressions are normal • People should take care of own families, not depend on gov’t • Calls meeting of business, banking, labor leaders to solve problems • Creates organization to help private charities raise money for poor • Hoover’s creates Boulder Dam project - later renamed Hoover Dam • Provides electricity, flood control, water – created jobs Hoover’s Philosophy – Rugged Individualism

  22. Hoover becomes unpopular with most people – blamed for not doing enough • Federal Home Loan Bank Act lowers mortgage rates • Reconstruction Finance Corporation—emergency funds for businesses • Hoover’s measures don’t improve economy before presidential election Hoover’s Actions

  23. Bonus Army—WWI veterans go to D.C. in 1932 to support Patman Bill - want payment of bonus • Hoover opposes bill; Senate votes down bill • Most veterans leave Washington; about 2,000 stay to speak to Hoover • Hoover fears violence, calls on U.S. Army to disband Bonus Army • Infantry tear gas over 1,000 people, including children; many injured • Public is stunned, outraged by government’s actions The Bonus Army

  24. Which of the following methods of fighting the Depression did President Herbert Hoover oppose throughout his administration? A. federal welfare programs to give relief directly to the poor. B. an increase of taxes on wealthy individuals and corporations. C. loans by the government to big businesses to keep them from failing. D. increased state and local spending for public works programs. Daily EOC Question

  25. Letter to Family Member • Describe life in a Hooverville • 3 Specific Facts • 3 Paragraphs • Tell your story – How did you get there? L25 - Hoovervilles

  26. US History II Day 14Friday 2-10-12

  27. QUIZ!! L27

  28. Blue EOC Book • Read Pg. 173 Starting with Rugged Individualism… to Pg. 175 • # 1-4 pg 173 • # 1-3 pg 176 • Pg. 186 • #2-6 • #9-13 R28

  29. L27 processing

  30. Corners of the room are labeled A, B, C, and D • After reading the question send a representative of your team to the correct corner. • First person to the correct corner gets 2 points, other people to the correct corner 1 point Corners Game

  31. A stock costs $100. You buy it for $50 and then borrow the rest in the hope that it will do well enough for you to still make money. Which of the following best describes what you have just done? • Lost money • made a profit • Bought on Speculation • Bought on the Margin

  32. Scandals, Teapot Dome Wyoming, and Albert Fall are all associated with which President? • Woodrow Wilson • Warren G. Harding • Calvin Coolidge • Herbert Hoover

  33. The popularity of radio and the introduction of moving pictures contributed to which of the following in the 1920s and 30s? • A booming advertising industry and mass culture • A new Red Scare • Appearance of speakeasies and bootleggers • A decrease in the popularity of spectator sports

  34. What was the significance of The Jazz Singer? • It was the first movie ever made • It was the most popular radio show • It brought national focus to the Harlem Renaissance • It was the first movie made with sound

  35. Louis Armstrong, Langston Hughes, and Zora Neal Hurston are all associated with which of the following movements? • The Niagara Movement • The NAACP • The Lost Generation • The Harlem Renaissance

  36. Fundamentalism was a response to which of the following? • Passage of the 18th Amendment • Acts of government that limited free speech in the name of halting communism • New teachings and ideas that challenged traditional beliefs about God and the Bible • Harsh and unjust treatment of immigrants in the large urban areas of the Northeast

  37. Harding, Coolidge, and Hoover were all similar as presidents in which of the following ways? • Each had his administration rocked by scandal • Each presided over a depression for which he was blamed and thus soundly defeated in his re election campaign • Each was a Democrat who favored control on business • Each was a Republican who believed in Laissez faire economics

  38. US History II Day 15Monday 2-13-12 The New Deal

  39. QUIZ!! L29

  40. Do you think the US government should help people in need? Why or why not? Does the type of need affect your answer? Think about it… DO NOT WRITE

  41. Find the definition or importance of the term or person. Write on R30 then complete reading guide. • New Deal • Deficit Spending • Elenor Roosevelt • Francis Perkins • Mary McLeod Bethune • parity R30- New Deal Vocab and Reading Guide

  42. In the 1930’s, the enactment of New Deal programs demonstrated a belief that 1.  corporations were best left to operate without government interference  2.  state governments should give up control over commerce inside their states  3.  the Federal Government must concern itself with the people’s economic well-being  4.  the United States Constitution was not relevant to 20th-century life Daily EOC Question

  43. - 5 Facts - 5 Pictures - 5 Colors L29 Process: Thoughts for FDR

  44. US History II Day 16Tuesday 2-14-12 The Second New Deal

  45. What gov’t agencies do you know of that provide direct relief to people in the US? What effect do you think they have had? Warm Up L31

  46. By 1935, economic recovery not as great as FDR had expected - launches second phase: more relief for farmers, workers • First Lady Eleanor Roosevelt, a social reformer, prods president • 1936 Congressional Elections - • First time most African Americans vote Democratic • First time labor unions support presidential candidate Second One Hundred Days

  47. For Farmers – rewards for conserving soil, loans to purchase land, photographs of farm life • For Urban Workers – • Works Progress Administration – build roads, airports, public buildings, artistic jobs • National Youth Administration – work for students as well as counseling and education FDR Extends Relief

  48. National Labor Relations Act, or Wagner Act, replaces NIRA: - protects right to join unions, collective bargaining - prohibits unfair labor practices • Fair Labor Standards Act sets maximum hours, minimum wage Improving Labor Conditions

  49. Major Reform that is still with us today • 1935, Social Security Act creates Social Security system; provides: - insurance for retirees 65 or older - unemployment compensation - aid to disabled, families with children Social Security

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