Chapter 11: The Great Depression Begins 1929-1932 Do You Know?? What causes a Depression? Section One: The Causes of the Great Depression The Long Bull Market Collapse “We are nearer…” The Election of 1928 Coolidge declines Reelection The Candidates – Democrat Alfred E. Smith – Republican Herbert Hoover The Damage is Done… Results Do you know??? Hoover took 444 electoral votes in the election of 1928. How does the electoral college work? The Stock Market Soars Bull Market Americans Investing in Stocks Get Rich Scheme Speculation The Great Crash Longevity of the Bull Market September Falling FasT… The Stock Market Crash Monday, October 21 Black Thursday, October 24 Day of Doom, Black Tuesday november’s sums Banks Begin to Close Crash weakened Banks Loans cut dramatically Recession Banks at a loss Bank Run Making Ends Meet Sometimes its just not enough The Roots of the Great Depression The Root of all evil… Low Interest Rates Overproduction Uneven Distribution of Wealth High Tariffs Falling Demand Stock Market Speculation Stock Market Crash The Un EVEN Distribution of Income Machinery increases production Income Decrease in Sales Unemployment due to Business collapse The Loss of Export Sales Loss of Export means NO JOBS! everyone’s Facing a recession… Hawley-Smoot Tariff Smoot and Hawley, the creators of the much hated Hawley-Smoot Tariff. Mistakes by the Federal Reserve Failure to Raise Interest Rates • Risky Loans • Borrowed Money a liTTle Too laTe… Still relevent??? Many experts believe that the U.S. Economy is in worse shape than before the Great Depression. We’ve discussed the causes of the Great depression , do they seem similar to ours? Consider Unemployment rates, Credit of Americans, and the Housing Market. Are we headed towards a depression? SECTION REVIEW What did the HawleySmoot Tariff? What were some of the causes of The Great Depression? When was Black Tuesday and what happened on that day? Section Two: Life during the depression The depression worsens sTruggling To geT by… going hungry… Losing their homes Bailiffs Hobos Black blizzards across America 1930’s DusT boWl American-made problem A Storms coming!! How to survive the black blizzard Run for cover when you see them coming anyThing you Don’T want to lose keep out of the storms Afterwards, you have to pick up and do it over again Reflections.. "I felt I was becoming a slave to the land. But I held on to the thought that this land had to be stopped from blowing. Often I was so full of dust that I drove blind, unable to see even the radiator cap on my tractor or hear the roar of the engines. But I kept driving on and on, by guess and instinct. I was making my last stand in the Dust Bowl." Imagine you were present when the dust bowl was occurring, would you have stayed on the plains or took your ticket to California, remembering that your entire life was on that farm. Could you leave it? What would you lose or gain from the decision? Art and Entertainment Movies and Radios Superheroes to the rescue… rolling ouT The reD carpeT… Shirley temple & Jackie coogan King Kong Walt Disney The wizard of oz Gone with the wind Radio gives info & Entertainment Comedians The Green Hornet & Lone Ranger Soap Operas—The Guiding light The Cast of Guiding light Literature and Art John Steinbeck William Faulkner Photographe rs for Life Grant wood, American gothic (1930) Grant Wood Margaret Bourke-White SECTION REVIEW What caused the Dust Bowl? What were Americans form of entertainment? What did Margaret Bourke-White do? A Hooverville that was full of homeless families trying to get by. Section Three: Hoover Responds to the Depression Promoting Recovery October 25th 60 days Promise ‘american inDiviDualism’ Keeping a FronT… Public Works Deficit Spending iT’s Their loss! What was he thinking?? Do you think it was right that Hoover was disliked for not creating enough public works although he DiDn’T FunD more because it would have the u.s. in worse economic situations? Trying To Rescue The Banks Money Supply NCC RFC Direct Help For Citizens NO relief for you!! Emergency Relief and Construction Act Hunger Marches & Protests by Farmers Oklahoma City-January 1931 Connections to American Communist Party December 1932- March on Washington Farm Fore closure Protests Trying To maKe some money… Were they right or just crazy?? Do you think what they did in Oklahoma was justifiable to be done? The Bonus Marchers Promise Bonus March in Washington “bonus army” MacArthur to the Rescue? Bad Rep Section Review Who commanded the army that tear-gassed and burned down shacks of the bonus marchers? What are public works? What did the NCC do?
