1. THE GREAT DEPRESSION BEGINS

2.  S tock Market  O verproduction  B ank Failures CAUSES OF THE CRASH

3.  “Bull market” led to rising stock prices  Wealth was generated on paper  Investors bought on margin / credit!  Black Tuesday – October 29,1929  The day the bubble popped STOCK MARKET CRASH

4.  Crisis in the farm sector!  Markets that were open during WWI, now closed!  Farmers produced more than they were able to sell (trying to pay off their debt)  Prices of products dropped  Demand of manufactured goods fell off.  Americans spending less!  No one buying things  don’t need to produce as much  don’t need a lot of workers OVERPRODUCTION/CONSUMER DEBT

5.  After the crash – American panic and try to withdraw money from banks!  Too many people, not enough money!  Banks shut down  659 (1929)  6,000 (1933)  Wiped out 9 million individual savings accounts  http://www.history.com/topics/ 1929-stock-market- crash/videos#1929-stock- market-crash BANK FAILURES

6. 1.3% to 25% 2.13 million 3.1,800/year to 1,050 per year 4.1 in 4 5.85,000 6.1 NUMBERS – WHAT DO THEY REPRESENT?

7.  Towns made of shacks  Shacks built from scrap material.  These towns were known as Hoovervilles (after president Hoover).  “Here were all these people living in old, rusted-out car bodies…There were people living in shacks made of orange crates. One family with a whole lot of kids were living in a piano box…People living in whatever they could junk together” SHANTYTOWNS

8.  Many Americans scrounged for food  Digging in garbage cans  Begging on street corners  Soup Kitchens  Bread Lines SOUP KITCHENS & BREAD LINES http://www.youtube.com/watch?v=JQ bcNhcCyn8

9.  Unemployment rates were higher & jobs had very low pay  Racial violence increased against African Americans  Americans demanded Latinos be deported AFRICAN AMERICANS & LATINOS

10.  Take a moment…put yourself in someone else’s shoes….  Answer these questions on you sheet  How might they be feeling?  What would be the worst part? GREAT DEPRESSION

11.  Generally, Americans believed in traditional values and the importance of a family staying together!  However, making ends meet caused stress and sometimes would break apart families EFFECTS ON THE FAMILY

12.  Walk the streets  Some stopped trying  Some abandoned their families  Wandered the country MEN OF THE GREAT DEPRESSION

13.  Women  Women canned food and sewed clothing  Carefully managed the budget  Sometimes worked outside the home  Children  Health problems: Malnutrition/diet related diseases  Child-welfare programs were cut  Some schools closed or shortened the year  Many worked – sweatshops WOMEN AND CHILDREN

14.  The Dust Bowl!!  Rocked the great plains! Devastated farmers and people of that area.  “Black Blizzards”  Ruined farms, many people had to leave  Farmers lost their farms  Killed animals and many times, people! FARMERS http://www.pbs.org/ke nburns/dustbowl/

15.  People felt demoralized  People admitted to mental hospitals  Sacrifices made:  No doctor/dentist  No college  No family/marriage  Families helped other families  Habits of saving/thriftiness  This shaped the generation OTHER EFFECTS

16.  Tried to reassure American’s that the nation’s economy was OKAY  “Any lack of confidence in the economic future…is foolish”  Hoover didn’t do much – didn’t want government to have too much power or do too much.  “Rugged individualism” – People should succeed through their own efforts.  Don’t depend on gov. to bail you out!  Refused to support direct relief programs PRESIDENT HOOVER & THE DEPRESSION

17.  Boulder Dam  To add jobs and jumpstart economy.  Part of his public-works programs  Federal Farm Board  Raise crop prices/help farm cooperatives buy crops  Federal Home Loan Bank Act  Lowered mortgage rates for homeowners  Farmers can refinance their farm loans to avoid foreclosure  Reconstruction Finance Corporation  Provides emergency financing to banks, life insurance companies, railroads, etc.  “Trickle-down” approach.  All of these things helped a little but it was just too little, too late. PRESIDENT HOOVER

18.  http://www.history.com/topics/great-depression http://www.history.com/topics/great-depression  Might not need to show this due to America the story of US CHARACTERISTICS OF THE GD