The Great Depression ID’s: Hawley Smoot Tariff Speculation Run on the Banks Black Tuesday Wild Boys Hoovervilles.

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Presentation transcript:

The Great Depression ID’s: Hawley Smoot Tariff Speculation Run on the Banks Black Tuesday Wild Boys Hoovervilles

Superficial Wealth “Sick Industries” – Coal, Steel, and Farming Low Demand and Over-production Coolidge vetoes Price Supports: Govt buys surplus crops at guaranteed prices

A Bull Market Americans rushed to the Stock Market Speculation: Buying stocks on the chance of quick profit Buying on margin: paying a small percentage of stock’s price as a down payment and borrowing the rest

Sept/Oct 1929 stock prices began to fall Oct. 29, 1929 = Black Tuesday 16 million share dumped By mid-November $30 billion had been lost

Banks People panicked and withdrew their money from banks Rush on the banks + banks who lost $ in the crash = lost fortune/savings accounts Black Tuesday

Hawley-Smooth Tariff 1930: Highest protective tariff in US History Protect manufacturers from foreign competition Unemployment became worse Other nations retaliated

Herbert Hoover Takes Office An engineer, philanthropist, and believer in “Rugged Individualism” People should succeed through their own efforts and not depend on the govt.

ENOUGH? Hoover Dam: Provided jobs, electricity, flood control ,and regular water supply Reconstruction Finance Corporation: (RFC) Emergency financing for banks, railroads, and large companies Trickle down economics The people couldn’t wait

Hoovervilles

Gassing the Bonus Army WWI veterans (Bonus Army) gathered in D.C. Hoover sent in 1,000 infantry and they gassed the entire group 1 death, 1 blinded, 2 shot, many more injured

GREAT DEPRESSION GALLERY WALK Round 1: Give a title to the images Round 2: What is the very 1st thing that caught your attention in this image? Why? Round 3: List 2 things that you notice about this image Round 4: Add two more things that stand out to you (could be what is missing too) Round 5: What is similar about these images? Try to be as specific as possible Round 6: What do you think is happening in this image? Round 7: What are five words that describe what the people in these images must have been feeling? Round 8: Write two questions you have about this image Round 9: How would you have handled this situation?