The Great Depression A Destitute mother of seven children in California. Images like this one were used to gain public support for New Deal Programs

Economic Warnings 1.) Uneven prosperity and business growth 1.) Uneven prosperity and business growth 2.) Farm crisis (surplus) 2.) Farm crisis (surplus) 3.) Buying on margin 3.) Buying on margin Investing with borrowed money Investing with borrowed money 4.) Consumer reliance on credit 4.) Consumer reliance on credit 5.) Stock speculation 5.) Stock speculation Investing in high risk stock Investing in high risk stock Result: Black Tuesday Oct 29 th, 1929 – Result: Black Tuesday Oct 29 th, 1929 – The Stock Market Crash The Stock Market Crash

Recession vs. Depression economic cycle -- the alternation in the economy between periods of prosperity and periods of decline. economic cycle -- the alternation in the economy between periods of prosperity and periods of decline. Recession – mild, widespread decline in business, trade, and employment. Recession – mild, widespread decline in business, trade, and employment. Depression – A deep, long-lasting decline. Depression – A deep, long-lasting decline.

Bull Market vs. Bear Market Bull Market – Upward trend in stock prices Bull Market – Upward trend in stock prices The Charging Bull in Bowling Green, New York is a symbol of the bull market. The Charging Bull in Bowling Green, New York is a symbol of the bull market.Charging BullBowling GreenNew YorkCharging BullBowling GreenNew York

Bear Market – Downward trend in stock prices. Bear Market – Downward trend in stock prices. From 1929 to 1933, over 5,000 banks closed their doors. From 1929 to 1933, over 5,000 banks closed their doors. 10,000 depositors lost their savings. 10,000 depositors lost their savings. From 1931 to 1940, the average unemployment rate was 14%. From 1931 to 1940, the average unemployment rate was 14%. At the depth of the downturn – 25% At the depth of the downturn – 25% 25% = 15 million Americans 25% = 15 million Americans In 1929 nearly 80% of the nation’s families had no savings. In 1929 nearly 80% of the nation’s families had no savings.

Global Depression Smoot-Hawley Tariff: Smoot-Hawley Tariff: During the 1920’s Congress maintained high tariffs, or import tax, to protect American business from foreign competition. During the 1920’s Congress maintained high tariffs, or import tax, to protect American business from foreign competition. The Depression effected the U.S., Great Britain and Germany. The Depression effected the U.S., Great Britain and Germany. France, Australia, Argentina and Brazil France, Australia, Argentina and Brazil By 1930 manufacturing, investments, trade and banking had all become international. By 1930 manufacturing, investments, trade and banking had all become international. Made countries more dependant economically. Made countries more dependant economically.

No Help No system of unemployment insurance to help those without jobs No system of unemployment insurance to help those without jobs No national welfare to help the jobless. No national welfare to help the jobless. State and local governments, as well as, charities helped to raise funds to feed the poor. State and local governments, as well as, charities helped to raise funds to feed the poor. Breadlines, Soup Kitchens and Shelters were established. Breadlines, Soup Kitchens and Shelters were established.

Soup kitchens and Breadlines

Inflation Is the continuing increase in the price of goods. Is the continuing increase in the price of goods. During the 1920’s inflation spiraled out of control. During the 1920’s inflation spiraled out of control.

Herbert Hoover Great Depression Relief: Great Depression Relief: tax cuts tax cuts boost in governmental spending for public works projects. (roads and dams) boost in governmental spending for public works projects. (roads and dams) Believed in little or no government intervention to help the depression. (Laissez-faire) Believed in little or no government intervention to help the depression. (Laissez-faire) Called for rugged individualism Called for rugged individualism Success through individual effort and private enterprise. Success through individual effort and private enterprise.

Hoovervilles

“Hoover Wagons”

Bonus Army May/July 1932 May/July 1932 World War I veterans protest early pension bonuses in Washington D. C. World War I veterans protest early pension bonuses in Washington D. C. Gassed by General Douglas MacArthur Gassed by General Douglas MacArthur Sealed Hoovers fate, Franklin Roosevelt would be elected next president. Sealed Hoovers fate, Franklin Roosevelt would be elected next president.

The Bonus Army

The Depression Devastates

Hardships

Hero’s? Bonnie and Clyde were notorious bank robbers during what is sometimes referred to as the "public enemy era" between 1931 and During the Depression bankers became so unpopular that bank robbers, such as John Dillinger, became folk heroes. Bonnie and Clyde were notorious bank robbers during what is sometimes referred to as the "public enemy era" between 1931 and During the Depression bankers became so unpopular that bank robbers, such as John Dillinger, became folk heroes. Bonnie and Clydepublic enemy eraJohn Dillinger Bonnie and Clydepublic enemy eraJohn Dillinger

John Herbert Dillinger Jr. (June 22, 1903 – July 22, 1934 An American bank robber in the Midwest during the early 1930s.bank robber Midwest He was considered to be a dangerous criminal who was involved in the deaths of several police officers, robbed at least two dozen banks and four police stations, escaped from jail twice and was idolized by some as a modern-day Robin Hood. Robin Hood The exploits of Dillinger and his gang, along with those of other criminals of the Great Depression such as Bonnie and Clyde and Ma Barker, dominated the attention of the American press.Great DepressionBonnie and ClydeMa Barker Referred to as the public enemy era (1931–1935), a period which led to the development of the modern, more sophisticated Federal Bureau of Investigation.public enemyFederal Bureau of Investigation

FBI photograph of the Biograph in 1934, soon after Dillinger's death.

Grave in Crown Hill Cemetery, Indianapolis, Indiana. Crown Hill CemeteryCrown Hill Cemetery

Set during the Great Depression, it focuses on the true story of Bureau of Investigation agent Melvin Purvis (Christian Bale)'s attempt to stop criminals John Dillinger (Johnny Depp), Baby Face Nelson, and Pretty Boy Floyd. Set during the Great Depression, it focuses on the true story of Bureau of Investigation agent Melvin Purvis (Christian Bale)'s attempt to stop criminals John Dillinger (Johnny Depp), Baby Face Nelson, and Pretty Boy Floyd.Great DepressionBureau of Investigation Melvin PurvisChristian BaleJohn DillingerJohnny DeppBaby Face NelsonPretty Boy FloydGreat DepressionBureau of Investigation Melvin PurvisChristian BaleJohn DillingerJohnny DeppBaby Face NelsonPretty Boy Floyd

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