1. Essential Question What were the causes and effects of the Great Depression? What were the causes and effects of the Great Depression?

2. Causes of the Depression

3. Election of 1928 Republican candidate Hoover stated, Republican candidate Hoover stated, “We are nearer to the final triumph over poverty than ever before in the history of any land.” “We are nearer to the final triumph over poverty than ever before in the history of any land.”

4. U.S. Agriculture New inventions – higher crop yields New inventions – higher crop yields Overproduction Overproduction Low profits for farmers Low profits for farmers

5. High Stock Market Bull market – heavy investing Bull market – heavy investing Rising stock prices Rising stock prices

6. Margin Buying Many investors used loans to purchase stock with small down payments Many investors used loans to purchase stock with small down payments

7. Speculation Buyers who hoped to make a fortune overnight Buyers who hoped to make a fortune overnight Took risks betting that the market would continue to rise Took risks betting that the market would continue to rise

8. The Great Crash Prices on the stock market began to slip Prices on the stock market began to slip Professional investors sold off holdings Professional investors sold off holdings Further drop in prices Further drop in prices

9. The Great Crash Oct. 1929 Oct. 1929 Market fell dramatically with frenzied selling Market fell dramatically with frenzied selling Oct. 29, 1929 – Black Tuesday with the sharpest decline Oct. 29, 1929 – Black Tuesday with the sharpest decline

10. U.S. Banking Many banks were speculators or loaned money to them Many banks were speculators or loaned money to them Stock market crash forced bank closings Stock market crash forced bank closings

11. U.S. Banking Deposits not insured Deposits not insured People ran on banks to withdraw savings People ran on banks to withdraw savings 3000 banks closed 3000 banks closed

12. Cyclical Effect of Economics In the space provided, trace the cyclical effect of the decline in vehicle purchases as outlined on the board. In the space provided, trace the cyclical effect of the decline in vehicle purchases as outlined on the board.

13. Life During the Depression

14. The Depression Worsens By 1933 – 9000 bank failures By 1933 – 9000 bank failures 12 million workers unemployed (1/4 of the workforce) 12 million workers unemployed (1/4 of the workforce) Sharp drop in family income Sharp drop in family income

15. Bread Lines People without jobs went hungry People without jobs went hungry Private charities handed out food Private charities handed out food

16. Bread Lines

18. Soup Kitchens

19. Quote – Peggy Terry “If you happened to be one of the first ones in line, you didn’t get anything but water that was on top. So we’d ask the guy that was ladling out soup into buckets – everybody had to bring their own bucket to get the soup – he’d dip the greasy, watery stuff off the top. So we’d ask him to please dip down to get some meat and potatoes from the bottom of the kettle. But he wouldn’t do it.”

20. Shantytowns Families who could not pay rent or mortgages lost their homes Families who could not pay rent or mortgages lost their homes Put up shacks on unused or public lands Put up shacks on unused or public lands

21. Hoovervilles Many people blamed the president Many people blamed the president This became the nickname for shantytowns This became the nickname for shantytowns

22. Hoovervilles

23. Hobos Homeless or unemployed Americans wandering the country in search of work Homeless or unemployed Americans wandering the country in search of work Many would sneak onto railroad cars Many would sneak onto railroad cars

25. Dust Bowl Drought in the Great Plains beginning in 1932 Drought in the Great Plains beginning in 1932 Ruined farmers Ruined farmers Dry soil became dust storms Dry soil became dust storms

27. Dust Bowl

30. Many farmers packed belongings and headed west to California Many farmers packed belongings and headed west to California Known as “Okies” Known as “Okies” Lived in makeshift roadside camps Lived in makeshift roadside camps

35. Hollywood Films and movies became a means of escape for those who watched Films and movies became a means of escape for those who watched Release from the day’s worries Release from the day’s worries

36. Walt Disney First feature-length animated film First feature-length animated film Snow White and the Seven Dwarves Snow White and the Seven Dwarves

37. The Wizard of Oz

38. Mr. Smith Goes to Washington

39. Gone With the Wind

40. Marx Brothers

41. Radio Comedy – Jack Benny, George Burns Comedy – Jack Benny, George Burns Lone Ranger Lone Ranger The Guiding Light – soap opera The Guiding Light – soap opera

42. Art During the Depression For many artists, the homeless and unemployed became the subject of pictures and stories For many artists, the homeless and unemployed became the subject of pictures and stories

43. Thomas Hart Benton

44. Grant Wood

48. John Steinbeck Novelist Novelist Wrote The Grapes of Wrath (1939) Wrote The Grapes of Wrath (1939) Story of a migrant family leaving the Dust Bowl for California Story of a migrant family leaving the Dust Bowl for California

49. Dorothea Lange Photographer Photographer

52. Margaret Bourke-White Photojournalist Photojournalist Showed the results of the prolonged drought Showed the results of the prolonged drought