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Great Depression

Great Depression. Warm-Up: Pick up Notes Packet + Assignment Packet and answer top part of page 1. Schedule Warm-Up PowerPoint Key Question/Closure: How did the US get itself into one of the worst economic disasters in history? Assignment Packet page 1 due Wednesday. The Myth of Prosperity.

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Great Depression

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  1. Great Depression

  2. Warm-Up: Pick up Notes Packet + Assignment Packet and answer top part of page 1 • Schedule • Warm-Up • PowerPoint • Key Question/Closure: How did the US get itself into one of the worst economic disasters in history? • Assignment Packet page 1 due Wednesday

  3. The Myth of Prosperity • Mood of most Americans in late 1920s was optimistic • In 1928, Republican President Herbert Hoover declared, “poverty will be banished from this nation.” • Few people realized that serious economic issues were coming

  4. Looking at this chart, what information jumps out at you? What does this graph tell us about the US economically?

  5. Economic Danger Signs • Many industries were producing more and more goods • Majority of middle class and poor incomes didn’t rise enough to buy additional goods (cars, refrigerators etc) + little savings • 60% of America living on less than $2,000 a year = poverty line

  6. Many items were not sold and piled up in warehouses (too much supply, too little demand) • Businesses could not sell products  can’t pay for materials + salaries  close factories and lay off workers

  7. Get-rich-quick’ attitude was popular • Speculation  practice of investors of buying and selling risky stocks in the hope of making a quick profit • To attract other than wealthy investors  buying on margin  investors could buy a stock for a fraction of its original price (10-50%) and borrow the rest • If stock prices fall  borrowers wouldn’t be able to repay loan

  8. The Crash and the Great Depression • Only 8 months in office, President Hoover faced an economic calamity • October  Beginning of economic depression  severe economic slump (stock prices sharply decline)

  9. Economy got worse when financial panic led to stock market crash of 1929 • Stocks went from being worth a fortune to worthless • Investors tried to sell stock before going bankrupt • Oct 29th Black Tuesday  stock prices fell 75% • Millions lost life savings

  10. In the following months, thousands of banks closed (ran out of money) • People couldn’t afford everyday products  businesses laid off workers

  11. The Great Depression • Great Depression  worst economic crisis in US history + impacted whole world • Many European countries borrowed from Europe to rebuild post WWI • When US economy tanked  called in loans that couldn’t be repaid • Europe’s economy failed • From 1929-1941 (entry into WWII)

  12. Hoover Loses the Nation • As unemployment, hunger and homelessness grew, Americans looked to President Hoover to end their suffering • Hoover did not want to increase the government’s role in the economy or aid to the needy • Encouraged private charities to aid people + businesses to maintain wages • Eventually, but too late, realized change was needed

  13. Reconstruction Finance Corporation govt-funded program give loans directly to banks • Public works—govt funded construction projects that would create jobs and assist communities with issues  Hoover Dam (cheap water-powered electricity)

  14. Bonus Army Incident • WWI veterans promised bonus for service (not due until after 1940) • Veterans demand early payment in 1932  Congress rejected idea • Veterans protest outside Washington DC in Hooverville—village of huts + shacks

  15. President Hoover ordered the army to clear the campsite  a few casualties • Shelters and belongings burned • Americans were outraged with incident + reputation as a ‘do-nothing’ president led America to choose Franklin D Roosevelt as president in 1932.

  16. Warm-Up: Complete review questions on page 4 in Notes Packet • Schedule • Warm-Up • PowerPoint: FDR’s New Deal • Powerful speaker analysis • Key Question/Closure: How did FDR attempt to restore America’s confidence? • Assignment Packet page 1 due Wednesday

  17. Who are the people in the political cartoon? What is happening in the cartoon with the 3 characters?

  18. FDR Takes Charge • FDR’s words reassured Americans and gave them hope that their country could prosper once again • From November-March, country had to wait for FDR to become president • 20th Amendment  moved Inauguration to January • As FDR waited, he studied America’s problems

  19. FDR created programs to fight Great Depression  New Deal • In First New Deal (1933-1935)  FDR focused on relief, recovery & reform

  20. First 100 Days  period of time when the power and influence of the President is greatest and Congress is most cooperative

  21. FDR’s initial steps: • Declare bank holiday  close all banks and have government inspectors examine health of all banks • Opened only banks that were in good shape  people begin to put money back in (banks begin to make loans)

  22. Fire-side chats  series of radio talks in which he explained his policies to the American public

  23. Warm-Up: Complete warm-up question on page 8 in notes packet • Schedule • Warm-Up • Social Security Analysis • FDR & Supreme Court Analysis • PowerPoint Notes • Key Question/Closure: Identify and describe the major issues FDR faced in his second term as President? • Assignment Packet page 2 due Friday

  24. FDR’S 2ND NEW DEAL • In 1935, Congress passed the Social Security Act—provide security, in the form of old age pensions, disability payments & unemployment benefits • While a person worked, a small amount of each paycheck goes to Social Security fund • Work matches employee’s contributions • When retired, person would receive monthly payments • Wagner Act  protect labor rights (form unions, collective bargaining—wages/conditions)

  25. Roosevelt’s Critics How do these political cartoons illustrate issues with FDR’s New Deal policies?

  26. Republicans  knew something had to be done about the Great Depression BUT Roosevelt went too far (too much government control + spending) • New Deal was seen as a form of socialism  take away private business, property, liberty = society control nation’s wealth • Democrats  New Deal programs didn’t go far enough (more spending/govt control)

  27. Throughout the 1st New Deal era, the Supreme Court had caused FDR his greatest frustration • Most of the 9 judges believed FDR’s programs gave the government too much power  declared several unconstitutional

  28. 1937, FDR proposed radical Supreme Court reform bill • Add 6 judges to original 9

  29. Many saw FDR’s real vision  ‘packing the court’ with judges who share his views and support New Deal laws • Interfered with checks/balances  vetoed • In end, Roosevelt, got what he wanted with Supreme Court justices dying and retiring but…lost more than he won • Harshly criticized (dictator)  united political opponents against him until WWII

  30. New Deal Slows Down: Recession of 1937 • Industrial production (supply) + employment decrease causes • Social Security tax  took money out of paycheck = less $$ spend • FDR cut back on supporting government-run programs • FDR afraid of deficit spending—borrow money to fund programs while taking in less money • Economy wouldn’t recover until WWII

  31. Warm-Up: Start working on page 11 in notes packet. • Schedule • Warm-Up • Word-Web Activities • Key Question/Closure: How did the Great Depression happen? How did FDR attempt to solve the problem? What major issues did FDR run into? • Assignment Packet page 2 due tomorrow + Quiz

  32. Warm-Up: Hand in review vocabulary page and go over quiz procedures • Schedule • Warm-Up • Great Depression Quiz • When finished, grab reading + questions and complete for section 3  Due Monday • Key Question/Closure: How did the Great Depression happen? How did FDR attempt to solve the problem? What major issues did FDR run into? • Assignment Packet page 3 due Monday

  33. Warm-Up: Take out notes packet and answer questions near top of page 14 • Schedule • Warm-Up • Dust Storm Disaster • PowerPoint • Railroad Reading • Key Question/Closure: How did most Americans fair during the Great Depression? • Assignment: NONE DBQ TOMORROW

  34. Living Through Hard Times: Dust Bowl • Few people escaped financial hardship during the Great Depression • Farmers, especially on the Great Plains out west, were hit the hardest • In the early 1930s, a drought hit the Great Plains and lasted for several years • Land had already been damaged from before by farming and grazing practices • Winds picked up dry dirt and created mile long dust storms which ravaged farms and blocked out the sun • Areas affected: Kansas, Oklahoma, Texas, Colorado, New Mexico (12,500 square miles)

  35. With crops and cattle buried under layers of dirt  thousands of farmers moved to California for work (Okies from Oklahoma) • By 1940, 2.5 million people left the Midwest and traveled west • But California farm towns quickly became over-populated • Took until the early 1940s for steady rain to return

  36. Living Through Hard Times: Unemployment • Without work, families couldn’t afford to buy food  bread lines feed thousands • Lost homes  shacks, huts, under bridges, cars

  37. Living Through Hard Times: Women & Kids • Children had to grow up fast during the Great Depression • Boys typically dropped out of school to work • Girls stayed home to take care of younger siblings • Some teens ran away from home to avoid being a burden to their families • Women had to give up their jobs to men or work in low-paying jobs men didn’t want

  38. Warm-Up: Grab DBQ Packet and begin working on outline • Schedule • Warm-Up • Great Depression DBQ (outline + essay) • Key Question/Closure: What events led to the Great Depression? How were people affected? • Assignment: DBQ TOMORROW TEST COMING UP

  39. Warm-Up: Answer the warm-up question on page 20 in notes packet • Schedule • Warm-Up • Letters to Mrs. Roosevelt • Grapes of Wrath • Key Question/Closure: Culturally, how was the Great Depression perceived? • Assignment: TEST COMING UP

  40. Warm-Up: Students will pick up review packet questions and complete independently • Schedule • Warm-Up • Review packet • Class review of review packet • Key Question/Closure: How did the federal government respond to the Great Depression? • Assignment: TEST COMING UP

  41. Warm-Up: Go over test procedures • Schedule • Warm-Up • Great Depression Test • Key Question/Closure: How did the federal government respond to the Great Depression? • Assignment: NONE

  42. Warm-Up: Take Cinderella Man packet from front cart. • Schedule • Warm-Up • Great Depression discussion • Background on Cinderella Man + Writing Assignment • Cinderella Man Movie • Writing Assignment on Cinderella Man • Key Question/Closure: How does the movie Cinderella Man relate to our class discussions on the Great Depression? • Assignment: Cinderella Writing Assignment

  43. http://www.youtube.com/watch?v=eGhdX1SI3KY&bpctr=1359924646

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