THE GREAT DEPRESSION. LIST OF CAUSES Black Tuesday/Thursday Farmers Banks Government Response Tariffs.

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Presentation transcript:

THE GREAT DEPRESSION

LIST OF CAUSES Black Tuesday/Thursday Farmers Banks Government Response Tariffs

BLACK THURSDAY October 24, 1929 Stock prices initially crashed Slightly recovered

BLACK TUESDAY October 29,1929 Official/Final Crash- Prices did not recover $25 Billion lost immediately~ $319 Billion in todays money

WHY DID THIS HAPPEN? Farmers heavily affected during the roaring 20s Production remained the same/increased

BANKS Numerous banks failed- Went out of business Many people lost all of their money

POOR GOVERNMENT RESPONSE Poorly managed Hoover believed that the country would repair itself

TARIFFS A tax on imported goods Many politicians believed that tariffs were the best thing for our economy by protecting against foreign imports Made problems worse as foreign countries entered the depression too.

DESPAIR!!

QUESTIONS? ASK THEM!!