1. The Great Depression 1929-1939

2. Hoover’s policies

3. Herbert Hoover President from 1928-1932 President from 1928-1932

4. Rugged individualism Hoover’s idea that success came from Hoover’s idea that success came from individual effort and private enterprise individual effort and private enterprise Hoover believed in individual effort, not government assistance Hoover believed in individual effort, not government assistance “Pull yourself up by the bootstraps” “Pull yourself up by the bootstraps”

7. Hoover did try to stimulate the economy by spending $800 million Hoover did try to stimulate the economy by spending $800 million Created: Created: Federal Farm Board- Federal Farm Board- Loaned $ to farmers and bought surplus crops Loaned $ to farmers and bought surplus crops Reconstruction Finance Corporation (RFC) Reconstruction Finance Corporation (RFC) Lent 2 billion to troubled banks, insurance, and railroad companies Lent 2 billion to troubled banks, insurance, and railroad companies Hoover Dam Hoover Dam

8. Shantytowns Aka Hoovervilles Aka Hoovervilles Large gatherings of homeless people who made dwellings out of scrap wood/metal Large gatherings of homeless people who made dwellings out of scrap wood/metal

9. Hooverville

10. America

11. South Africa

12. Africa

14. India

16. Hoover Dam

17. Bonus army 1932 1932 10,000 WWI vets marched to D.C. 10,000 WWI vets marched to D.C. Demanded early pension for WWI service Demanded early pension for WWI service 2,000 camped out and refused to leave 2,000 camped out and refused to leave Hoover called the army in to drive out the vets…burning down their camp - 4 killed Hoover called the army in to drive out the vets…burning down their camp - 4 killed

22. Election of 1932 Hoover vs. FDR Hoover vs. FDR FDR conveyed a spirit of optimism and promised a “New Deal” FDR conveyed a spirit of optimism and promised a “New Deal” Destroys Herbie winning 42 of ___ states Destroys Herbie winning 42 of ___ states

23. 1932

26. 1928 Hoover wins

27. 1932 FDR wins

38. Causes of Depression 1. Global depression 1. Global depression 2. Income gap 2. Income gap 3. Consumer debt 4. Business cycles 5. Banking Crisis

39. Stock Market Bull market - upward trend in prices Bull market - upward trend in prices Bear market - downward trend Bear market - downward trend

44. Margin buying Purchasing stocks with borrowed money Purchasing stocks with borrowed money

45. Black Thursday October 24 th, 1929 October 24 th, 1929 Stock Market crashes Stock Market crashes By mid November stockholders had lost 30 billion!!!! By mid November stockholders had lost 30 billion!!!! More than the total cost of WWI More than the total cost of WWI

46. Banks are forced to close Stock market crashes People can’t repay loans from banks People lose their money, jobs, houses Consumers can’t buy goods, businesses close

47. Income gap 5% of population controlled 90% of wealth 5% of population controlled 90% of wealth Most Americans didn’t have money to spend……to boost the economy Most Americans didn’t have money to spend……to boost the economy So they borrowed and went into debt So they borrowed and went into debt

48. Unemployment 1929 ----- 3.2% 1929 ----- 3.2% 1932 ----- 23.6% 1932 ----- 23.6%

50. Series Id: LNS14000000Seasonally AdjustedSeries title: (Seas) Unemployment RateLabor force status: Unemployment rateType of data: Percent or rateAge: 16 years and overDownload: YearJanFebMarAprMayJunJulAugSepOctNovDec Annu al 20045.75.65.85.6 5.55.4 5.55.4 20055.35.45.2 5.15.0 4.95.0 4.9 20064.74.84.7 4.6 4.7 4.54.44.54.4 20074.64.54.44.54.44.64.74.64.7 5.0 20085.04.95.15.05.45.65.86.1 6.56.87.3 20097.88.38.79.09.49.5 9.69.810.09.9 20109.79.89.9 9.69.49.5 9.89.4 20119.19.0 9.19.09.19.0 8.88.68.5 20128.28.38.2 8.17.8 7.9 20137.97.77.5 7.37.2 7.06.7 20146.6