1. The Depression: The Early Years
From Hoover to Roosevelt

2. What were the economic effects of the “Crash”?
Banks
Individual savings
Home ownership
Businesses
Demand for goods
Jobs

3. Initial effects
Some Americans still had money, jobs…but many more did not
People bartered services to survive eg: haircut for potatoes
Prioritize: no soap for food on the table
Public Display
Soup lines
Increased crime
Abandoned homes

5. Residual Social Effects
HOW and WHY did economic depression cause the following:
Delayed marriage
Decline in birthrate
More discrimination against women and immigrants
More truancy from school

6. Hoover’s Response Two Beliefs: Resulting Actions
Economic outcomes are the product of character
Voluntary action would compel businesses to regulate themselves
Resulting Actions
Cut taxes
Called on state and local gov’t to respond
$700 mill.for public works

7. Moderation Failed
Hoover’s policies were unprecedented but still failed
Depression deepened
Hoovervilles
Farm holidays
Violent strikes
Bonus Army Demonstrated
March 1928 Cover…

8. Enter FDR Election 1932: Incumbent Hoover; NY governor FDR
March 1933 nation hit rock bottom
Americans looking for any relief
Stormy Weather Part 1