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Chapter 16 Crash and Depression 1929-1933 (pages 474-504)

Chapter 16 Crash and Depression 1929-1933 (pages 474-504). Economy in the late 1920s Stock market increased value Unemployment below 4% “Everybody ought to be rich” John Raskob invest. Business begin Welfare Capitalism. Increased Wages Healthcare Paid Vacations. Signs of Trouble.

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Chapter 16 Crash and Depression 1929-1933 (pages 474-504)

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  1. Chapter 16 Crash and Depression 1929-1933 (pages 474-504) Economy in the late 1920s Stock market increased value Unemployment below 4% “Everybody ought to be rich” John Raskob invest

  2. Business begin Welfare Capitalism • Increased Wages • Healthcare • Paid Vacations

  3. Signs of Trouble • Uneven riches-rich get richer and poor get poorer • Mainly Big Businesses • 80% of Families had no savings • Buying on credit • New appliances • Installment buying

  4. Playing the Market • Life Savings • Buy on the Margin-Credit • Too many Goods, too little demand • Farmers had hard times • Decreased demand for food overseas

  5. The Stock Market Crash • Stocks valued higher than their worth • Stock prices drop-buyers become worried • Oct. 29, 1929 stocks plummet • People try to sell stocks • Some people lost money others lost their life savings • Brokers and Banks call in loans

  6. Effects of the Crash • Ripple effect • Factories close • Unemployment • Small businesses hurt • Agricultural prices decrease • Banks collapse • Rush of depositors

  7. U.S. Depression Affects the World • Allies had to pay war debts • Germany had to reparations but couldn’t without U.S. help • Tariffs high on Imports could not sell goods • Global downward spiral

  8. Social Effects of the Depression • Affected White collar and Blue collar workers • Hoovervilles-shanty towns • Farm Distress • Decreased prices • Sharecroppers and tenant Farmers kicked out • Destroyed goods • Dustbowl • Drought/dust storms on the Great Plains • Left farms and moved to California for migrant farmer jobs

  9. The Dust Bowl

  10. The Dust Bowl

  11. Health Problems • Lack of Food-Sickly people, especially children • Grew food in the South • Tried to sell odds and ends • Picked trash cans

  12. Family Problems • Moved in together • Men felt like failures-ashamed • Marriages postponed • Women worried about feeding kids • Men thought women were taking their jobs

  13. Discrimination Increased • African Americans moved north as janitors and porters • Had to get private help-Government discriminated • Southerners said African Americans stole white jobs • Lynchings increased • Denied civil rights • Scotsboro boys

  14. Surviving the Great Depression • People helped each other • Farmers bought farms and gave them back to their owners • Moves to the left • Some became socialists but not many • Looking Ahead • Humor-Hoover blankets etc

  15. Prohibition Repealed • 21st Amendment • Increased production in some industries • Empire State Building • End of an Era • The Babe, Al Capone, Henry Ford, and Calvin Coolidge

  16. Election of 1932: A Turning Point in History • Hoover’s Voluntary Action • Hoover Dam • Tariffs • John Maynard Keyes • Veteran’s March • Bonus Army

  17. The Bonus Army

  18. The New Deal • FDR • Harvard • New York State Senate • Assistant Secretary of the Navy • Polio • Became Governor

  19. FDR

  20. Political Cartoon

  21. Eleanor Roosevelt • Teddy’s niece and FDR’s distant cousin • Worked at settlement house • Women’s Rights • Many people voted against Hoover

  22. Eleanor

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