1. USE THE READING STRATEGY TO READ CHAPTER 15

2. Causes of the Depression Stock Market – Buying on margin & stock speculation – Selling at a loss – Bank closings

3. 2. BANK FAILURES Throughout the 1930s over 9,000 banks failed. Bank deposits were uninsured and thus as banks failed people simply lost their savings. Surviving banks, unsure of the economic situation and concerned for their own survival, stopped being as willing to create new loans. This exacerbated the situation leading to less and less expenditures

4. CAUSES OF THE GREAT DEPRESSION AGRICULTURAL OVERPRODUCTION POOR ENVIRONMENTAL POLICIES & PRACTICE INDUSTRIAL OVERPRODUCTION UNEVEN DISTRIBUTION OF WEALTH OVERSPECULATION +MARGIN BUYING EASY MONEY (CREDIT) POOR MONETARY POLICY POOR FISCAL POLICY HIGH TARIFFS

5. Causes of the Great Depression The global economic crisis decreased exports. Unequal distribution of income reduced the total purchasing power available in the economy. Consumer debt undermined individuals and increased economic chaos. 5

6. Market Causes of the Depression Stock Market – Buying on margin & stock speculation – Selling at a loss – Bank closings

7. Causes of the Depression Stock Market Crash – Get out while the getting’s good – Black Thursday – Black Tuesday CLICK TO SEE BLACK TUSEDAY VIDEO

8. Causes of the Depression Government policies on business – Laissez-faire policies – Unprecedented growth – Who’s to blame? Coolidge Harding Hoover

9. Reasons for the stock market crash of 1929 Economic factors such as rising interest rates began to worry investors. Investors sold stocks. Stock prices dropped sharply, fueling panic. Heavy selling continued. 9

10. Reasons for the stock market crash of 1929 Economic factors such as rising interest rates began to worry investors. Investors sold stocks. Stock prices dropped sharply, fueling panic. Heavy selling continued. 10

11. Causes of the Depression Stock Market Crash – Get out while the getting’s good – Black Thursday – Black Tuesday

12. Causes of the Great Depression The global economic crisis decreased exports. Unequal distribution of income reduced the total purchasing power available in the economy. Consumer debt undermined individuals and increased economic chaos. 12

13. Buying on Margin Video Single click screen to view video

14. Hoover’s opposition to government relief during the Great Depression President Hoover believed that individuals and businesses should be self-reliant and that government help would create a bureaucracy. 14

15. Radical response to Hoover’s policies staged protests became involved legally Veterans’ response gathered in Washington D.C. to demand payment of their pension bonuses 15

16. Causes of the Depression Unstable economy – Standard of living is up – Credit – Rookie stock owners

17. Events signaling the Great Depression Banks failed due to heavy defaults, margin calls, and heavy withdrawals. Bank failures deprived businesses of necessary resources and customers. Businesses closed and workers lost their jobs. 17

18. Psychological Impact Responsibility – Self-reliance – Merit-based rewards – Self blame & doubt

19. Psychological Impact Anxiety – Factories close – Inflation up – Foreclosures – Hunger

20. Psychological Impact Depression – Humiliation Brother, Can You Spare a Dime? – Expectations – Help??? Single click speaker to hear audio clip >>>>

21. Psychological Impact Suicide – Numbers climb – Mostly males – War effects

22. Physical Impact Hunger & Diet – Poor eating = bad health – Malnutrition is prevalent

23. Physical Impact Inadequate medical care “Luxury”? Long-term effects Low priority Picture from the Franklin D. Roosevelt Library, courtesy of the National Archives and Records Administration.

24. Impact on the Family Women forced to work The argument versus the reality Women were less likely to lose jobs Women actually gained jobs

25. Children and teens forced to work Teenage workers Role reversal Impact on the Family

26. President Hoover’s Philosophy No government help Bureaucracy Work ethic Homerville's

27. Hoover Video Single click screen to view video

28. President Hoover’s Actions Raising import taxes Public works programs Reconstruction Finance Corporation

29. Farm Problems Farmers suffer too Three main causes

30. Farm Problems What a pest... – Boll weevil Irresponsible – Single-crop farming

31. Dust Bowl No more rain Dust storms Poor plowing techniques Lost topsoil

32. Dust Bowl Map

33. Dust Storms Black Blizzards Black Sunday Dust Pneumonia

34. Conservation Efforts Last Man’s Club Hugh Bennett The Plow that Broke the Plains The ultimate visual aid Bennett

35. “Okies” Headin’ West California – the Promised Land? Route 66 The Grapes of Wrath

36. Route 66 Map

37. “Okie” Problems Unwanted Pickers

38. Socialism??? Emigration Huey Long “Share the Wealth” “Every Man a King” Long

39. The People’s Response Bonus Army 1932 election

40. FDR—The Common Man Happy Days are Here Again! Polio Contact with farmers “Champion of the Common Man” “The only thing we have to fear is fear itself” Single click speaker to hear audio clip >>>> FDR

41. Fireside Chats Reassurance Restoring trust Weekly addresses

42. The New Deal Reforms to put America back to work Alphabet Soup government Short-term solution Brings government into business

43. New Deal—Banks are Back! Restoring bank confidence One-week bank holiday Federal Deposit Insurance Corporation (FDIC)

44. New Deal Programs Tennessee Valley Authority (TVA) Agricultural Adjustment Act (AAA) Civilian Conservation Corps (CCC)

45. New Deal Programs Federal Arts Program (FAP) Works Progress Administration (WPA)

46. Labor Issues Power to the owners AFL-CIO split Presidential support for workers Accomplishments

47. Prohibition Repealed 21 st Amendment Violation of personal liberty Revenue source Political leanings

48. Radio War of the Worlds Swing music Evangelists McPherson Welles Single click speakers to hear audio clips >>>>

49. Radio Gossip columnists Comedy Auto advertising Single click speakers to hear audio clips >>>> Winchell Benny Advertisement Benny Burns

50. Big Band Music of the ’30s Swing music Band leaders Dorsey Single click speakers to hear audio clips >>>> Miller MillerEllington

51. Combo Bands of the ’30s Combo bands Benny Goodman Goodman Single click speaker to hear audio clip >>>>

52. Folk Music of the ’30s Folk music Woody Guthrie Huddie Ledbetter Ledbetter Guthrie Single click speaker to hear audio clip >>>>

53. Pop Music of the ’30s Andrews Sisters Bing Crosby Shirley Temple Temple & Crosby Andrews Sisters Single click speaker to hear audio clip >>>>

54. Musical Movies of the ’30s Movie musicals Singing cowboys Rogers Porgy and Bess Single click speakers to hear audio clips >>>>

55. Movies Golden Age of Hollywood Technicolor Full-length animation Drive-in theaters

56. Theater Video

57. Movie Stars Jean Harlow and Greta Garbo John Wayne Johnny Weissmuller Shirley Temple Three Stooges/Laurel and Hardy Harlow Single click speakers to hear audio clips >>>>

58. African-American Advances Jesse Owens Joe Louis Benny Goodman’s Orchestra Marian Anderson Louis Owens

59. Notable Names Amelia Earhart Lindbergh baby kidnapping Lindbergh Earhart

60. Notable Names Lou Gehrig Hindenburg Gehrig

61. Hindenburg Video Single click screen to view video

62. Horse Racing Gambling addictions Triple Crown Seabiscuit

63. Hardships during the depression poverty diminished expectations low prices or lack of market for farm products farm foreclosures hunger homelessness deportation for aliens 63

64. Great Depression’s effects on family life and attitudes of Americans fractured some families, forced others to band together for survival divorce rates up birth rates down many psychological problems 64

65. Seabiscuit Video Single click screen to view video

66. Concluding Thoughts How depressing! Alphabet Soup Pop culture icons Strengthened nation

67. Hard time killing floor blues (1931)

85. HOMEWORK