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Standard 17

Standard 17. The student will analyze the causes and consequences of the Great Depression. A. These factors - uneven wealth, rising debt, stock speculation, overproduction, and the hardships of farmers and workers - clearly signaled trouble in the economy. Uneven Prosperity.

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Standard 17

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  1. Standard 17 The student will analyze the causes and consequences of the Great Depression.

  2. A

  3. These factors - uneven wealth, rising debt, stock speculation, overproduction, and the hardships of farmers and workers - clearly signaled trouble in the economy

  4. Uneven Prosperity • It was mainly the rich who got richer with the stock market. • Only a small population held most of the nation’s wealth

  5. Buying on Credit • Another sign of danger was an increase in personal debt. • The installment plan made expensive items irresistible

  6. Playing the Stock Market • Because of the rapid rise of the stock market, speculation and buying on margin became very popular. • Speculation — making high-risk investments in hopes of getting a high gain. • Buying on Margin — purchasing a stock for only a fraction of its price and borrowing the rest. • You were charged interest on the rest of the amount. • The money you owe could be called in at any time.

  7. Overspeculation • During the 1920s, speculators bought stocks with borrowed money, then pledged those stocks as collateral to buy more stocks. • The stock market boom was based on borrowed money and optimism instead of real value.

  8. Too Many Goods, Too Little Demand • By the late 1920s, the country’s warehouses held piles of unbought consumers goods

  9. Trouble for Farmers • Falling farm prices made farmers unable to repay their debts for land and machinery. • About 6000 banks went out of business because of the farmers could not repay the loans.

  10. Trouble for Workers • Industrial workers were still making very little money for the long number of hours that they were working. • Ex.: Women worked 56-hour weeks, earning 16 to 18 cents an hour.

  11. The Stock Market Crashes

  12. B

  13. The Dust Bowl • It was a region in the Great Plains where drought and dust storms took place for much of the 1930s. • It devastated the farms and economies of the Midwest.

  14. The Dust Bowl

  15. C

  16. The Crash Affects Millions • The Crash triggered the Great Depression. • It lasted from 1929 until the US entered WWII in 1941. • Millions of Americans lost their jobs, farms, and homes. • The Depression caused trouble throughout the world.

  17. The Impact on Farmers and Workers • As income and profits fell, American factories began to close. • By 1932, 12 million people were unemployed. • About 25% of the workforce.

  18. Hoovervilles • Hoovervilles were shanty towns, with shacks of tar paper, cardboard, or scrap metal. • The name mocked President Hoover, whom many people blamed for the depression.

  19. The Election of 1932 • Franklin Delano Roosevelt (FDR) was the Democrat. • Herbert Hoover was the Republican. • FDR won the presidency by a huge margin of 7 million popular votes.

  20. Unit 4 Book Questions • Pg. 654: 1-9 • Pg. 698: 1-10 • Pg. 728: 1-8 • Pg. 766: 1-9 • Pg. 798: 1-8 • Pg. 842: 2-4, 8, 9, and 11 • Pg. 878: 1-9 • Pg. 1014: 1-9

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