The Great Depression. 20’s Keep Roaring Americans make more than ever –1922 National Income= $61 Bill. –1929 National Income= $87 Over 23 million cars.

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Presentation transcript:

The Great Depression

20’s Keep Roaring Americans make more than ever –1922 National Income= $61 Bill. –1929 National Income= $87 Over 23 million cars were owned –(3/4 of worlds supply) 1929 Stocks at all- time highs!

Trouble on the Horizon Unemployment on the rise Farmers were losing land –Farming and rural areas suffered as crop prices fell by 40 to 60 percent. Stock prices begin to drop

1929- The Great Crash Investors all over the country rush to get their money out of the stock market October 29 (Black Tuesday), the stock market collapsed, losing billions $$$ in value in one day By December 1929, $40 billion in stock value had been lost

The Economy Takes A Dive Between 1929 and 1933, 100,000 businesses failed Corporate profits fell from $10 billion to %1 billion Between , over 6,000 banks failed with over 9 million saving accounts lost ($2.5 billion) By 1933, 13 million workers were unemployed (25% of work force) and many were underemployed Malnutrition increased, as did tuberculosis, typhoid, and dysentery

Hoovervilles Small towns within a city that were built with scrap materials Almost 1 out of 4 Americans unemployed Seattle Portland (Where I-84 is today)

Social Health Decreased living condition –More people into less space Divorce rate decreased –Could not afford it Many men felt shame

Increased Discrimination Many married women are fired –Get more men jobs Minorities (African-Americans, Hispanics, and Asian Americans) pushed out of jobs –56% of African-Americans were unemployed in 1932 –Increased lynching Scottsboro Boys –9 African American youths accused of raping a white women –8 of 9 convicted to die (no defense) –Communist Party supplies lawyers for an appeal and the convictions were overturned

Dust Bowl 440,000 left Oaklahoma 300,000 left Kansas Many moved to California for farm work

Americans Look for Help In 1932, 95 people died in NYC from starvation Many American turned to soup kitchens and breadlines Large numbers of homeless workers roamed the U.S., particularly the Southwest, seeking work

Hoover’s Response Believes that direct relief (welfare) would undermine America Urged Americans to look toward churches and private charity for help Met with business and labor leaders to reduce layoffs and strikes Financed federal works projects, such as massive dams in the west (Bolder, Hoover, and Grand Coulee)

Hostility to Hoover Bonus Army (Bonus March)

Election of 1932 President Hoover –Slogans: “The Worst is Past” and “Prosperity is Just Around the Corner” –Accused FDR of seeking the destruction of capitalism Franklin D. Roosevelt –Campaigned for cautious liberalism –Rejecting Hoover’s conservatism and radical approach of socialists and communists –Offered a New Deal for the “forgotten man” and promised a balanced budget along with economic reforms

FDR WINS!