1. Standard 17

2. Causes of great depression
Over-production – companies increased production too much which created a surplus of goods that they could not sell
Under-consumption – After the market crash everyone was scared to spend money which further deepened the economic downturn
Bank Panic – Banks called in loans that people couldn’t pay, thus they ran out of money and failed, causing others to lose everything.

3. Buying on Credit
Polaroid trying to sell cameras on installment plans

4. Stock speculation & crash
Because the stock prices had been on a steady rise through out the 1920’s many people invested in the market to get rich quick. (They speculated that it would keep going up)
The market eventually did start to go down, when it did people began to panic and started selling off their stocks
This made prices drop even more because of the principal of supply and demand. (There was little demand and too much supply)

6. Black Tuesday

8. Lasts for about 10 years starting in 1929
Great depression
Lasts for about 10 years starting in 1929
Unemployment rate reaches 25%
Many people lose life savings
Many are homeless, living in make shift houses called Hoovervilles
Stand in line for hours for free soup or food.

9. Bank Closures Over 12,000 BANKS “Fail”
Depositors saw $140 billion disappear through bank failures
Regular people LOST EVERYTHING

11. 1931, the region entered into a dry cycle
Causes of the dustbowl
Many farmers moved to the Midwest during a rainy period, so that’s all they knew
1931, the region entered into a dry cycle
Drought was the worst in United States history, covering more than 75% of the country and severely affecting 27 states
Farmers continued to plant despite the failure of crops, this is known as over-farming
Deep plowing killed the prairie grassed that held together the topsoil. Winds soon began blowing the dry topsoil away

13. Drought and dust storms lasted about 10 years
Dust bowl results
Drought and dust storms lasted about 10 years
This caused many people to leave their homes and move west to California
Eventually rain returns and new plowing techniques are used to help end the Dust Bowl

18. Unemployment during the great depression
In million people belonged to families with no regular, full-time wage earner
2 million people were homeless and forced to migrate around the country and live in shacks knows as Hoovervilles

22. Thousands wanting the same job

23. Waiting in line for a free meal

24. Men sleeping in public housing

25. Christmas Dinner during The Great Depression

26. An Alabama School during The Great Depression

27. Hoover took a hands off approach to the depression at first
Effects on politics
Hoover took a hands off approach to the depression at first
Later he created some programs to help homeowners and to put people back to work (Govt. hired Americans to build the Golden Gate Bridge and Hoover Dam)
Most Americans view it as too little, too late

28. Hoover loses re-election
1932, Hoover ran for re-election vs Franklin D. Roosevelt
Most Americans blamed Hoover for depression
FDR wins election easily, getting 57.4% of the popular vote
He promised the American people he would put them back to work (called it his “New Deal”)