I have no fears for the future of our country it is bright with hope Stock prices fell even faster as investors raced to get the money out of the market The bottom fell out Summary Cyclical Effect ID: 308440
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Presidential Optimism
“I have no fears for the future of our country; it is bright with hope”Slide3
Stock prices fell even faster as
investors raced to get the money out of the market
.
The bottom fell out! Slide4Slide5
Summary: Cyclical Effect
Apparent Healthy Economy
Presidential Optimism
Consumer economy
Buying on Credit
Uneven Distribution of Wealth
Too Many Goods, Too Little Demand
Greedy Owners and Brokers
Stock Market SpeculationSlide6
THE GREAT DEPRESSIONSlide7
Effects of the Depression
Banks Closed
They could not return depositors’ money.
Wage Cuts
Could not afford to pay employees
People spend less
Massive unemployment
Minority loss jobs first to whites
Then all levels of society Slide8Slide9
Effects of the Depression
Hunger and homelessness became severe problems
Terrible drought devastated the Great PlainsSlide10
Brother, Can You Spare A Dime?
“Hoovervilles”
The poor were the hardest hit
Homeless in New York City - 15,000
Homeless people built shanty towns they called
HoovervillesSlide11Slide12
Hoovervilles
Hoover’s inability to even admit to the existence of a national crisis.
A sign in front reads, "Hard Times are still Hoovering over Us."Slide13
Encouraging voluntary influence
President Hoover relied upon charities
Hoover strategy for ending the DepressionSlide14
Overproduction – Foreclosed Farms
Farmers were forced to give up farms Slide15
Brother, Can You Spare A Dime?
Farms face Harder Times
Even during the 1920s.
Farm Distress
Many farmers lost their farms when they could not pay the mortgage.
Farmers tried to keep bids low when auctioning off FarmsSlide16
Then the Dust BowlSlide17
The Dust Bowl
Farmers worst affected of all people during the Depression.
A stalk of corn withered by DroughtSlide18Slide19Slide20
Lange’s Photo, “Migrant Mother”Slide21Slide22
Hardships Create New Problems
Anxiety grew over unemployment and possible job loss.
Many considered suicide
In the country, people grew food and ate wild berries.
In the city, people begged, went to bread and soup lines, or ate garbage from restaurants.Slide23Slide24Slide25
Hardships Create New Problems
Men were embarrassed that they could not feed their families, yet ashamed to ask for relief.
Depression Generation Emerges
Saves, rarely spends
Never buy with creditSlide26
Violence from Government
Veterans of WWI march to Washington demanding to get their Bonus Checks early from the Government.
Government used the Military to disburse the Protest
General MacArthur used force !Slide27
The Bonus Army Slide28Slide29Slide30
Discrimination Increases
Relief programs often discriminated against African-Americans.
Some white people claimed that black people had no right to jobs while white people were unemployed.
Working women were accused of taking jobs from men.
Married women whose husbands had jobs were firedSlide31Slide32
Lynchings Increased in the 1930s
Why do you think racism increased?Slide33
Scottsboro Trials
8 Men sentenced to die by an all white jury. The men were given no lawyer.Slide34
Global Implications
United States pulls investments out of Europe.
Countries struggle to pay off war debt. Slide35
Election Year
1932Slide36
FDR: “A New Deal for Americans
”Slide37Slide38Slide39
Outline Chapter 12 Section 1
The First New Deal
Know the Main Ideas
Know the terms
Quick Quiz TomorrowSlide40Slide41
Surviving the Great DepressionSlide42
Working Together for Change
Depression Generation
Changed feelings about banks, business, government and money.
Generation has continued to pinch and save, before buying anything expensive.
Less likely to buy on credit.
Tenant Groups
Formed groups to protest rent increases and evictions.
Some communities bought foreclosed farms for low prices and then gave them back to the owner.Slide43
Moves to the Political Left
Most people in America believed that the democratic system would pull them out of the depression.
Riots in Europe
Some reform movements were created in the U.S.
Most wanted a redistribution of wealth.
Socialists:
Called for a gradual social and political change rather than revolution.
Collective ownership of factories and businesses.
Norman Thomas
: Socialist candidate for president in 1932.Slide44
Looking Ahead
Depression Humor
When Babe Ruth was criticized for asking for a higher salary than President Hoover, he replied, “I had a better year than he did,”
$80,000
Prohibition is Repealed
Twenty-first Amendment: Ended prohibitionPeople hoped to stop organized crime.
Eight states continued to ban liquor.Slide45
Looking Ahead
The
Empire State Building
Built in 1930
The world’s tallest building
Viewed as a symbol of past prosperity and hope for a bright future.The End of an Era
Al Capone went to jail for tax evasion.
Jack Dempsey is defeated
Babe Ruth retires
Henry Ford, once a hero of the labor movement, becomes its worst enemy. Slide46Slide47
Pull out your Books
Looking and the pictures and read the Captions
p. 621 – 628
Answer Questions: p. 624 # 3- 6
p. 628 # 3-5