2. The Great Depression

3. Superficial Prosperity
Americans believed that this financial prosperity would never end
Installment Plan- enabled people to buy goods over an extended period of time… “Enjoy while you pay”
Purchasing goods on credit led would later come back to haunt Americans

4. Stock Market Crash October 29, 1929 = Black Tuesday
Economic boom in 1920’s led to collapse
Many people were buying stock on loaned money
There were more loans taken out than actual currency in the U.S.
Panic selling occurred on Oct. 24 after the market declined for first time

6. Outcomes of Collapse
Pres. Hoover and congress enacted the Smoot-Hawley Tariff but it failed
Unemployment rate rose up to 25% and 5,000 banks closed
Hoovervilles: Shantytowns nicknamed for Pres. Hoover

7. Hoover and the
Depression

11. Hoover Blanket

12. Hoover
Flags

13. Hoover
Leather

14. Hoover Wagon

18. Breadlines

22. Bank Runs

26. Suicide from
Stock Market Crash

27. Average rate of death by suicide
(per 100,000 population)
: : : The Great Crash of 1929, which suddenly brought economic ruin to thousands of people accustomed to a decade of prosperity, caused an immediate and dramatic spike in suicides. Suicide rates, which averaged 12.1 per 100,000 people in the decade prior to the Depression, jumped to an alarming 18.9 in the year of Wall Street's crash. The suicide rate remained higher than normal throughout the remainder of the Great Depression, then fell sharply during World War II.