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Bell Ringer

Bell Ringer. In the current economic turmoil, if your parents lost their job and house (and so did you relatives), what would you do?. Hoover on Prosperity. “It has been twelve months of unprecedented advance, of wonderful prosperity. If there is any way of judging

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Bell Ringer

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  1. Bell Ringer • In the current economic turmoil, if your parents lost their job and house (and so did you relatives), what would you do?

  2. Hoover on Prosperity “It has been twelve months of unprecedented advance, of wonderful prosperity. If there is any way of judging the future by the past, this new year will be one of felicitation and hopefulness.” -New York Times EditorialJanuary 1, 1929

  3. “People stood in long ques with satchels and paper bags to take gold currency away from the banks to store in mattresses and old shoe boxes. It seemed safer to put your life’s savings in the attic than to trust the greatest financial institutions in the country.”

  4. Gross National Product Nearly Halved • The measure of the nation’s total output of goods and services

  5. Hoover and the Great Depression Villain or Scapegoat?

  6. Hoover to blame?

  7. One out of every four men are jobless • Unemployment rises to 38%

  8. Unemployment Rate Skyrocket • The measurement many people used to judge the wellness of the U.S. Economy 13 Million Workers

  9. Impact on People’s Lives Hardship Homelessness Hunger

  10. Thousands of people turned to soup kitchens and breadlines – lines of people waiting to receive food provided by charitable organizations and public agencies became a common sight

  11. Lines around every corner

  12. Hoovervilles

  13. “Hoovervilles” – Shantytowns – little towns that sprang up in cities and towns to house the homeless

  14. Hoovervilles continued…

  15. Farmers were hit with many hardships: Many had gone into debt to buy machinery and land, and low prices wiped out potential profits. Drought of 1931-1932 turned much of Midwest into a Dust Bowl While many Okies and fellow farmers migrated, most stayed put because at least they could still plant food for survival

  16. Americans head west

  17. Route 66

  18. Ridin’ The Rails • Some 300,000 transients, or “hoboes,” wandered the country • 300,000 school children out of school • Some famous people who rode the rails • Novelist Louis L'Amour • TV host Art Linkletter • Oil billionaire H. L. Hunt • Journalist Eric Sevareid

  19. Bonus Army

  20. Bonus Army – group of WWI veterans denied their pensions marched on Washington, D.C. • Set up a tent city in D.C. • Hoover overreacted and sent in the army who burned the veterans out (Led by Douglas MacArthur and Dwight D. Eisenhower)

  21. The Wrong Place at the Wrong Time • Believed government’s role was to encourage and facilitate cooperation , not control it. • Believed handouts like Direct Relief would weaken the “rugged individualism” of American’s self-respect and moral fiber. • Individuals, charities and local organizations should pitch in – the federal government could direct relief efforts, but not through a huge government bureaucracy

  22. Trickle Down Economics and Rugged Individualism

  23. Andrew Mellon • Weed out weak banks • Repay War debts • Reduce taxes – balance budget • No Public relief

  24. Boulder Dam (Hoover Dam)

  25. Hoover obtained approval for constructing Boulder Dam (now Hoover Dam) • Would supply water to the states of the Colorado River Basin

  26. Hawley-Smoot Tariff The biggest Economic blunder in American History? • Against his own wishes Hoover signed this tax on over 20,000 imported goods • Hoped it would protect our devastated farmers as he had promised to do • Thousands of economics petitioned for Hoover to veto the bill b/c economy was on the recovery late in 1930 • Other nations retaliated with their own high tariffs shutting down trade around the globe and closing markets when we most needed them

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