great depression begins
TRANSCRIPT
Start of the depression
Bell work 2/2
• What do you know about the Stock Market in the United States?
p. 29 The Great Depression (1929-1941)
1. Economic Cause
• Too many people buying stocks that they can’t afford (with loans)
• Everyone tries to sell stocks at once• Banks had used $ to invest- they lost cash and
had to close
1. Economic Effect• Vagrant (homeless) kids• Thousands lose jobs/
homes/lifesavings• Hoovervilles- homeless
camps
2. Political Cause• Pres. Hoover was a
conservative (laissez faire=hands off) and didn’t like a lot of gov control of business
• Believed in the American spirit and will to “pull themselves up by the bootstraps”
• High tariffs (tax on imports)=trade war
2. Political effects(don’t copy) President Herbert Hoover declared, "Nobody is actually starving. The
hoboes are better fed than they have ever been.”
• felt that assistance should be handled on a local, voluntary basis. (Churches and businesses offer help)
• Hoover dam- projects to stimulate economy
3. Agricultural Cause
• Over production=low prices AND poor soil
3. Ag. Effect
• Dust Bowl- loose dirt picked up/blown away from The Dakotas to Texas
• Farmers leave the mid west (called Oakies)
4. Social Causes• Buying on credit (consumerism)• False optimism (thinking everything is ok)
4. Social effects
• Low divorce rate (too expensive)= lots of abandoned families, Low birthrate
• Poor health/nutrition• High crime rate and alcoholism• Escapism- radio, movies, sports
p. 28 A picture is worth 1000 words
• Divide the page into 4 squares• For each: • 1. what you see• 2. what is says about the era