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Causes of the Great Depression

Causes of the Great Depression. Election of 1928. Coolidge decided not to run again The Candidates Herbert Hoover: prosperity of the 1920’s was a major contribution to his landslide win Alfred E. Smith: endured a slandered campaign because he was Catholic . Election of 1928. Campaign Issues

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Causes of the Great Depression

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  1. Causes of the Great Depression

  2. Election of 1928 • Coolidge decided not to run again • The Candidates • Herbert Hoover: prosperity of the 1920’s was a major contribution to his landslide win • Alfred E. Smith: endured a slandered campaign because he was Catholic

  3. Election of 1928 • Campaign Issues • Religious differences: First Catholic to run • Hoover wins by Landslide- prosperity of the 20’s

  4. Long Bull Market • Bull Market: a long period of rising stock prices • Buying on margin bought stocks with mostly borrowed money • Margin call • Speculation

  5. The Great Crash • Black Tuesday: the stock market crashed! • Banks in tailspin because they invested their deposits in the stock market • Economy in recession

  6. Roots of Depression • Uneven distribution of income • Efficient machinery leads to overproduction • Credit- people have debt • Loss of export sales

  7. Roots of Depression • Mistakes made by the Federal Reserve • Kept rates low • Expanding economy?

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