1. The Stock Market Crash

2. On Tuesday, Oct. 29, 1929 the Stock Market Crashes ending the prosperity of the 1920’s. Black Tuesday

3. Depression in Action 26,355 businesses failed in 1930 Very high unemployment – 1930 4 million people out of work – 1932 12 million people out of work.

4. What Caused the Crash? Economic – Charts page 730 Buying on margin – Small down payment – Borrowed the rest Speculation – Buying and selling stocks to make a quick profit – Land in Florida

5. Hoover’s Response Thought government interference would hurt the economy more “rugged individualism” Hoover blamed – Hoover flags – Hoovervilles – Hoover blankets Public Works Projects – Money to states, cities and towns for building public resources Bonus Army – 1932 – WWI veterans – Due in 1940s – General MacArthur Tear gas, bayonets, tanks and grenades Burned camps Public saw as negative Influenced 1932 election

7. What Caused the Crash? Natural – Overgrazing – Over plowing – Loss of grasses – Drought Early 1930s – Dust Bowl Kansas, Oklahoma, Texas, Colorado and New Mexico Results – Farmers lost land and moved west