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Presentation transcript:

Welcome to Hooverville

1928 Presidential Election 1932 1936 1940

Herbert Hoover (R-IA) Thirty-first President of the U.S. 1929-1933 www.whitehouse.gov/about/presidents/warrenharding

ECONOMIC PROBLEMS in the late 1920s CHEAP CREDIT The Federal Reserve is a government-created central bank that determines interest rates.

ECONOMIC PROBLEMS in the late 1920s SPECULATION ECONOMIC PROBLEMS in the late 1920s CHEAP CREDIT BUYING “ON MARGIN”

Stock Market CRASH

It’s ALWAYS the Presidents’ fault. “Hoovervilles” It’s ALWAYS the Presidents’ fault.

Farm Economy Collapses The Dust Bowl Farm Economy Collapses

A Dust Storm in Texas (1935)

Route 66 “Okies”

Black Unemployment During Depression 25% Peak Unemployment 50% Black Unemployment During Depression

Migrant Mother (1936)

FALSE The Hoover Myth ZZZ… Hoover just sat there and did nothing about the Depression. It wasn’t until FDR that the government tried to do something. FALSE ZZZ…

Tax Increase

Second-highest tariff in U.S. History Hawley-Smoot Tariff Second-highest tariff in U.S. History

Voluntary Charitable Efforts Hoover Had Limits Voluntary Charitable Efforts Direct Relief for the Poor

The “Bonus Expeditionary Force” aka, “Bonus Army” Summer, 1932 The doughboys want their dough.

No Substitute for Victory MACARTHUR