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The Great Depression

The Great Depression. By:Lauren Petrozza , Jessica Veilleux , Neve Manion , and Paul Ciarcia. Economic Issues. Stock Market Crash U.S. market lost two-thirds of its value by 1993 Collapse of the American banking system Bank failures Stock of money shrank Farm Depression

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The Great Depression

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  1. The Great Depression By:LaurenPetrozza, Jessica Veilleux, NeveManion, and Paul Ciarcia

  2. Economic Issues • Stock Market Crash • U.S. market lost two-thirds of its value by 1993 • Collapse of the American banking system • Bank failures • Stock of money shrank • Farm Depression • Farm product prices fell • Economic Breakdowns • World trade collapsed because of Smoot-Hawley Tariff http://static.ddmcdn.com http://www.madisonavenuejournal.com

  3. Income During the Great Depression • 27.5 million families in the U.S. at the time • 21.5 million families (78 percent) made under $3,000 • 6 million families made under $1,000 per year (22 percent) • The median household income today is $51,404, about $4283.7 per month (171.3% increase) www.todayifoundout.com

  4. Race Factor • Southern City People Slogan • Racial slogans like ‘No jobs for Niggers until every white man has a job” • Roosevelt Did Little to Help • Opposed Civil Rights • African Americans Made Their Own New Deal • Helped each other out and grew their own food • “Slave Market” • Unemployment Rate • Blacks higher than Whites tkminfo.wikispaces.com www.encyclopediaofarkansas.net

  5. Making Ends Meet • New Deal- people got jobs PWA and WPA • Farmers relocated • Peoplerelied on government checks or charity organizations for food • Enlisted in the military • People got jobs as cartographers (mapmakers) www.etsy.com

  6. Impact on Businesses/People • Collapse of American banking system: • Depositors wanted to remove their money from banks • Banks ran out of cash so they were forced to shut down • Businesses could no longer operate • Farm Depression: • Many people lost their farms due to dropping prices of crop • Severe drought left soil unfertile—no plants grew • Many were forced from their homes argenteditions.com

  7. Stock Market Crash www.tobaccoprc.org • Stock value dramatically dropped • Thousands of shareholders lost large sums of money • By 1930 consumer spending had fallen dramatically (no one was spending money) • Decrease in world trade—increase in trade restrictions • Nations changed their leaders and types of government because of the economic crisis

  8. Smoot-Hawley Tariff en.wikipedia.org • Created by Reed Smoot and Willis Hawley • Blamed for turning “what would have been a normal economic depression into a worldwide depression” • Reasons it was so bad: • Responsible for highest tariff rates in U.S. history • “Deepened” the Great Depression by reducing availability of foreign goods • Created an “open trade war between countries” and increased foreign trade retaliation

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