The Great Depression Unit 8, Lesson 4. Essential Idea Economic conditions of the 1920s helped start the Great Depression, and Herbert Hoover’s insufficient.

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Presentation transcript:

The Great Depression Unit 8, Lesson 4

Essential Idea Economic conditions of the 1920s helped start the Great Depression, and Herbert Hoover’s insufficient response led to the election of Franklin Roosevelt.

The Great Depression Previous “panics” The business cycle The Great Depression

Early Indicators Wealth gap Poor farm economy –Agricultural Marketing Act (1929) Global economic problems Growing consumer debt

Causes of the Great Depression O.B.O.E. –Overspeculation –Bank failures –Overproduction –Economic policies (of the government)

Overspeculation “Playing the market” Buying on margin Margin call

Overspeculation Black Thursday Black Tuesday (October 29 th, 1929) Investor reactions

Bank Failures Banks and the stock market Banks collapse Bank runs Life savings

Overproduction Installment plans Unemployment Downward spiral

Economic Policies Hawley-Smoot Tariff (1930) Intended effects Actual effects The Great Depression BeginsThe Great Depression Begins

Hoover’s Foreign Policy Response World wide depression Hawley- Smoot Tariff (1930) Debt moratorium (1931)

Hoover’s Domestic Response “Rugged individualism” Idealism vs. Reality Federal Farm Board Reconstruction Finance Corporation (RFC) Direct Relief Results Great Depression Sets InGreat Depression Sets In

Protest Farm Holiday Association Bonus Army Douglas MacArthur Public response Bonus Army

Urban Life During the Great Depression Hobos Breadlines Hoovervilles, etc. Hoover- problemsHoover- problems

Rural Life During the Great Depression Farming techniques Drought Dust Bowl –Okies –The Dust BowlThe Dust Bowl

Life During the Great Depression Women Blacks Mexican Americans Minorities in the DepressionMinorities in the Depression

Election of 1932 Herbert Hoover (Republicans) Hoover Loses Support Franklin D. Roosevelt (Democrats) Results Hoover as a “lame duck” 20 th Amendment (1933)