ch 17, sec 1-3: the great depression & ch 18, sec 1-4
TRANSCRIPT
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Ch 17, Sec 1-3: The Great Depression
&Ch 18, Sec 1-4
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Causes of the Great Depression
• Stock Market Crash of 1929• Downfall of businesses worldwide• Installment plans/overproduction of goods• Failure of banks
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First three years
• 9,000 banks closed• 30,000 companies closed• 12 million people unemployed (1/4th of the
population)• 1 million farms failed
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Shantytowns• People were kicked out of their
houses/apartments• Shacks on unused or public lands like streets
and parks• Also known as Hoovervilles
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Jobs/Food
• People jumped on trains to move around the country for work (illegal)
• Rise in soup kitchens/bread lines to get food
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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
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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
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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
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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)
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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
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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
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Emergency Banking Relief Act
• All banks would be surveyed• Only banks who were financially sound could
remain open• Stopped the banking problem
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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
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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)
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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
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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
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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
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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
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Townsend Plan
• Wanted people over 60 to retire• Give them $200 a month• Free up jobs for the unemployed
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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
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National Housing Act
• Established the National Housing Authority• Gave $500 million for loans to builders• Turned slums into low-cost housing