 Over speculation lead to stock crash  Wall Street crashed in October 1929  Stocks people had bought were worth nothing  Had a domino affect for rest.

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Presentation transcript:

 Over speculation lead to stock crash  Wall Street crashed in October 1929  Stocks people had bought were worth nothing  Had a domino affect for rest of economy

1. Europe couldn’t repay loans 2. Customers couldn’t repay loans 3. Customers took money back all at once This lead to a worldwide economic depression. Lasted the longest in the United States

 Utah was hit harder than most of the nation.  Took jobs for lower pay and some children left home.  Rationing was common for almost everyone.  Federal Government does nothing.

 Local government created work projects  Many private charities collected money and food.  Still was not enough and conditions started to worsen

 Independently write the top three areas you would focus on to help the economy recover.  With a partner decide on the top one between your six focus areas.  Discuss as a class some of the results.

 Franklin Delano Roosevelt (FDR) elected president.  Created a program of government assistance called the “New Deal”  Civilian Conservation Corps (CCC)  Works Progress Administration (WPA)  Farm Security Administration (FSA)  Federal Emergency Relief Administration (FERA)  Federal Deposit Insurance Corp (FDIC)  Social Security Act  Unemployment Benefit

 LDS Church’s Security Fund (Welfare Plan)  Established farms, canneries, bishop’s storehouses  Members volunteered to work and donate This was not enough and still relied on Federal Government.

 Fed. Gov. provide relief but did not end it.  WWII ended the Great Depression.