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Ch 17, Sec 1-3: The Great Depression & Ch 18, Sec 1-4

Ch 17, Sec 1-3: The Great Depression & Ch 18, Sec 1-4. Causes of the Great Depression. Stock Market Crash of 1929 Downfall of businesses worldwide Installment plans/overproduction of goods Failure of banks. First three years. 9,000 banks closed 30,000 companies closed

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Ch 17, Sec 1-3: The Great Depression & Ch 18, Sec 1-4

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  1. Ch 17, Sec 1-3: The Great Depression&Ch 18, Sec 1-4

  2. Causes of the Great Depression • Stock Market Crash of 1929 • Downfall of businesses worldwide • Installment plans/overproduction of goods • Failure of banks

  3. First three years • 9,000 banks closed • 30,000 companies closed • 12 million people unemployed (1/4th of the population) • 1 million farms failed

  4. Shantytowns • People were kicked out of their houses/apartments • Shacks on unused or public lands like streets and parks • Also known as Hoovervilles

  5. Jobs/Food • People jumped on trains to move around the country for work (illegal) • Rise in soup kitchens/bread lines to get food

  6. Dust Bowl • Great Plains farmers took away the prairie grasses for crops • Drought caused the crops to fail • Nothing to keep the soil in place-became dust • Thicker than snow storms/covered everything in dirt • Farmers lost their land/had to move west for work

  7. Entertainment to the rescue!!! • Movies/actors • Groucho Marx • Walt Disney • 3 Stooges • Movies allowed people to wish for a better time • Rise in soap operas on the radio

  8. Photographers • Took pictures to capture the spirit of Americans during this time • Wanted to show their struggles and outlooks at life • Ex: Dorothea Lange • Ex: Margaret Bourke-White

  9. President Hoover’s Ideas • Tried to get businesses to remain open • Start public works projects ($1.5 billion) • Refused to increase gov’t spending • Had to gov’t give money to start up banks ($238 million)

  10. People fought back • Hunger marches in Oklahoma City • Farmers revolted by burning their crops to make prices go up (supply + demand) • WWI soldiers marched to Washington D.C. to get their bonus checks • Camped out in the city • Military called in to force them out with tear gas/weapons

  11. President Roosevelt Takes Office • March 4, 1933 • Ideas were called the “New Deal” • Fireside chats • Brought in experts in every field to help make decisions/policy • Big business was to blame • Big business and gov’t needs to work together • Gov’t needs to restore competition but keep it fair

  12. Emergency Banking Relief Act • All banks would be surveyed • Only banks who were financially sound could remain open • Stopped the banking problem

  13. Regulations on Banks/Stock Market • SEC-created to regulate the stock market and to prevent fraud • Banks were no longer allowed to give loans for stock investments • FDIC-gov’t insurance to for bank deposits

  14. Federal Agencies: Agricultural Adjustment Administration • Paid farmers to not raise certain animals and grow certain crops (prices were raised within 2 years) • Helped big farmers increase wealth • Hurt tenant farmers/African Americans (lost their jobs/homes)

  15. Federal Agencies: National Recovery Administration • Helped set new rules for businesses • Set prices • Created minimum wages • Limited hours to work • Failed to help end the depression

  16. Federal Agencies: Civilian Conservation Corps • Helped unemployed people get jobs • Men 18-25 could plant trees, fight forest fires, and build reservoirs • Earned $30/month

  17. Federal Agencies: Public Works Administration • 1/3rd of unemployed worked in construction • Helped to build highways, dams, sewers, waterworks, schools, and gov’t buildings • Required companies to hire African Americans

  18. Federal Agencies: Works Progress Administration • Helped build roads, parks, and buildings • Hired artists to create artwork for gov’t buildings • Hired actors to create films promoting the govt’s actions to end the depression

  19. Townsend Plan • Wanted people over 60 to retire • Give them $200 a month • Free up jobs for the unemployed

  20. Social Security Act • Workers earned the right to receive benefits • Started welfare payments to: • The needy/poor • People with disabilities • Retirement benefits for people over 65

  21. National Housing Act • Established the National Housing Authority • Gave $500 million for loans to builders • Turned slums into low-cost housing

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