the greatdepression
TRANSCRIPT
The Great DepressionThe Great Depression
1929-19401929-1940
Causes of the Stock Causes of the Stock Market Crash-1929Market Crash-1929
Overspeculation during the 1920’sOverspeculation during the 1920’s Overproduction of goodsOverproduction of goods ““Buying on margin”Buying on margin” Uneven distribution of wealthUneven distribution of wealth Too much borrowing from banksToo much borrowing from banks Stock prices were grossly inflated, Stock prices were grossly inflated,
did not have real valuedid not have real value Federal Reserve increased interest Federal Reserve increased interest
ratesrates Lack of government regulationLack of government regulation
Effects of the Stock Market Effects of the Stock Market CrashCrash
Investors and businesses lose millions $Investors and businesses lose millions $$$$$
Thousands of banks fail-savings are Thousands of banks fail-savings are wiped outwiped out
Businesses cut production-lay off Businesses cut production-lay off workersworkers
Unemployment rises-people quit Unemployment rises-people quit spending moneyspending money
Great Depression sets inGreat Depression sets in Depression spreads to Europe and other Depression spreads to Europe and other
parts of the worldparts of the world
Causes of the Great Causes of the Great DepressionDepression
Overproduction of goodsOverproduction of goods Underconsumption of goods by Underconsumption of goods by
consumersconsumers Agricultural slump due to overproductionAgricultural slump due to overproduction High protective tariff policies of the High protective tariff policies of the
1920’s1920’s Taxes benefiting the rich-rich got richer, Taxes benefiting the rich-rich got richer,
poor got poorerpoor got poorer Stock market crashStock market crash
Effects of the Great Effects of the Great DepressionDepression
New Deal programs start-makes the US New Deal programs start-makes the US gov’t much largergov’t much larger
Deficit spending startsDeficit spending starts The New Deal creates many The New Deal creates many
organizations that are still around today-organizations that are still around today-social securitysocial security
Fascist, military and communist dictators Fascist, military and communist dictators come to power throughout the worldcome to power throughout the world
The Vicious Cycle of the The Vicious Cycle of the Great DepressionGreat Depression
Companies lose $$ so they lay people Companies lose $$ so they lay people offoff
Unemployment rate goes up and less Unemployment rate goes up and less people buy goods as income has people buy goods as income has droppeddropped
Companies profits fall so they have to Companies profits fall so they have to lay more people off or closelay more people off or close
Cycle repeats itselfCycle repeats itself
Herbert HooverHerbert Hoover
New York Stock ExchangeNew York Stock Exchange
John Pierpont(J.P.) MorganJohn Pierpont(J.P.) Morgan
John D. RockefellerJohn D. Rockefeller
Calvin CoolidgeCalvin Coolidge
Bonus Expeditionary ForceBonus Expeditionary Force
Macarthur and EisenhowerMacarthur and Eisenhower
BreadlinesBreadlines
Soup KitchensSoup Kitchens
Hoboes Hopping Freight TrainsHoboes Hopping Freight Trains
Selling ApplesSelling Apples
Dust BowlDust Bowl
OkiesOkies
Will RogersWill Rogers
Ch. 14.1Ch. 14.1
The Nation’s Sick EconomyThe Nation’s Sick Economy
McNary-Haugen BillMcNary-Haugen Bill
In early 1924, Senator Charles L. McNary In early 1924, Senator Charles L. McNary of Oregon and Representative Gilbert N. of Oregon and Representative Gilbert N. Haugen of Iowa introduced a bill calling for Haugen of Iowa introduced a bill calling for the following: the following: ““A federal farm board was to be created to A federal farm board was to be created to
purchase surplus farm production at pre-World purchase surplus farm production at pre-World War I prices; the surpluses were to be stored War I prices; the surpluses were to be stored until domestic conditions improved or until a until domestic conditions improved or until a decision was made to offer them on world decision was made to offer them on world markets.”markets.”
1928 Presidential Election1928 Presidential Election
Herbert Hoover(R)Herbert Hoover(R)
Al Smith(D)Al Smith(D)
Hoover’s Ironic SpeechHoover’s Ironic Speech
"We in America today are nearer to "We in America today are nearer to the final triumph over poverty than the final triumph over poverty than ever before in the history of this land... ever before in the history of this land... We shall soon with the help of God be We shall soon with the help of God be in sight of the day when poverty will in sight of the day when poverty will be banished from this land." be banished from this land."
Herbert Hoover in his acceptance Herbert Hoover in his acceptance speech June, 1928speech June, 1928
Dow JonesDow Jones
The The Dow Jones Industrial AverageDow Jones Industrial Average ((DJIADJIA) is one of several stock market ) is one of several stock market indicators created by Charles Dow.indicators created by Charles Dow.
Dow compiled the index as a way to Dow compiled the index as a way to gauge the performance of America's gauge the performance of America's stock market. stock market.
Today, the average consists of 30 of Today, the average consists of 30 of the largest and most widely held the largest and most widely held public companies in the US. public companies in the US.
The Dow Jones Industrial Average consists of the following 30 companies:The Dow Jones Industrial Average consists of the following 30 companies: 3M Co.3M Co. (MMM) (conglomerates) (MMM) (conglomerates) ALCOA Inc.ALCOA Inc. (AA) (aluminum) (AA) (aluminum) Altria Group, Inc.Altria Group, Inc. (MO) (tobacco, foods) (MO) (tobacco, foods) American International Group, Inc.American International Group, Inc. (AIG) (property & casualty insurance) (AIG) (property & casualty insurance) American Express Co.American Express Co. (AXP) (credit services) (AXP) (credit services) AT&T Inc.AT&T Inc. (T) (telecom services) (T) (telecom services) Boeing Co., TheBoeing Co., The (BA) (aerospace/defense) (BA) (aerospace/defense) Caterpillar, Inc.Caterpillar, Inc. (CAT) (farm & construction equipment) (CAT) (farm & construction equipment) Citigroup, Inc.Citigroup, Inc. (C) (money center banks) (C) (money center banks) Coca-Cola Co.Coca-Cola Co. (KO) (beverages) (KO) (beverages) E.I. du Pont de Nemours & Co.E.I. du Pont de Nemours & Co. (DD) (chemicals) (DD) (chemicals) Exxon Mobil Corp.Exxon Mobil Corp. (XOM) (major integrated oil & gas) (XOM) (major integrated oil & gas) General Electric Co.General Electric Co. (GE) (conglomerates) (GE) (conglomerates) General Motors Corp.General Motors Corp. (GM) (auto manufacturers) (GM) (auto manufacturers) Hewlett-Packard Co.Hewlett-Packard Co. (HPQ) (diversified computer systems) (HPQ) (diversified computer systems) Home Depot, Inc.Home Depot, Inc. (HD) (home improvement stores) (HD) (home improvement stores) Honeywell International, Inc.Honeywell International, Inc. (HON) (conglomerates) (HON) (conglomerates) Intel Corp.Intel Corp. (INTC) (semiconductors) (INTC) (semiconductors) International Business Machines Corp.International Business Machines Corp. (IBM) (diversified computer systems) (IBM) (diversified computer systems) JPMorgan Chase and Co.JPMorgan Chase and Co. (JPM) (money center banks) (JPM) (money center banks) Johnson & Johnson Inc.Johnson & Johnson Inc. (JNJ) ( (JNJ) (drug manufacturersdrug manufacturers) ) McDonald's Corp.McDonald's Corp. (MCD) (restaurants) (MCD) (restaurants) Merck & Co., Inc.Merck & Co., Inc. (MRK) ( (MRK) (drug manufacturersdrug manufacturers) ) Microsoft Corp.Microsoft Corp. (MSFT) (application software) (MSFT) (application software) Pfizer, Inc.Pfizer, Inc. (PFE) ( (PFE) (drug manufacturersdrug manufacturers) ) Procter & Gamble Co.Procter & Gamble Co. (PG) (consumer goods) (PG) (consumer goods) United Technologies Corp.United Technologies Corp. (UTX) (conglomerates) (UTX) (conglomerates) Verizon CommunicationsVerizon Communications (VZ) (telecom services) (VZ) (telecom services) Wal-Mart Stores, Inc.Wal-Mart Stores, Inc. (WMT) (discount, variety stores) (WMT) (discount, variety stores) Walt Disney Co., TheWalt Disney Co., The (DIS) (entertainment) (DIS) (entertainment) INFO FROM WIKIPEDIA.COMINFO FROM WIKIPEDIA.COM
Ch. 14.1Ch. 14.1
The Nation’s Sick EconomyThe Nation’s Sick Economy
McNary-Haugen BillMcNary-Haugen Bill
In early 1924, Senator Charles L. McNary In early 1924, Senator Charles L. McNary of Oregon and Representative Gilbert N. of Oregon and Representative Gilbert N. Haugen of Iowa introduced a bill calling for Haugen of Iowa introduced a bill calling for the following: the following: ““A federal farm board was to be created to A federal farm board was to be created to
purchase surplus farm production at pre-World purchase surplus farm production at pre-World War I prices; the surpluses were to be stored War I prices; the surpluses were to be stored until domestic conditions improved or until a until domestic conditions improved or until a decision was made to offer them on world decision was made to offer them on world markets.”markets.”
1928 Presidential Election1928 Presidential Election
Herbert Hoover(R)Herbert Hoover(R)
Al Smith(D)Al Smith(D)
Hoover’s Ironic SpeechHoover’s Ironic Speech
"We in America today are nearer to "We in America today are nearer to the final triumph over poverty than the final triumph over poverty than ever before in the history of this land... ever before in the history of this land... We shall soon with the help of God be We shall soon with the help of God be in sight of the day when poverty will in sight of the day when poverty will be banished from this land." be banished from this land."
Herbert Hoover in his acceptance Herbert Hoover in his acceptance speech June, 1928speech June, 1928
Dow JonesDow Jones
The The Dow Jones Industrial AverageDow Jones Industrial Average ((DJIADJIA) is one of several stock market ) is one of several stock market indicators created by Charles Dow.indicators created by Charles Dow.
Dow compiled the index as a way to Dow compiled the index as a way to gauge the performance of America's gauge the performance of America's stock market. stock market.
Today, the average consists of 30 of Today, the average consists of 30 of the largest and most widely held the largest and most widely held public companies in the US. public companies in the US.
The Dow Jones Industrial Average consists of the following 30 companies:The Dow Jones Industrial Average consists of the following 30 companies: 3M Co.3M Co. (MMM) (conglomerates) (MMM) (conglomerates) ALCOA Inc.ALCOA Inc. (AA) (aluminum) (AA) (aluminum) Altria Group, Inc.Altria Group, Inc. (MO) (tobacco, foods) (MO) (tobacco, foods) American International Group, Inc.American International Group, Inc. (AIG) (property & casualty insurance) (AIG) (property & casualty insurance) American Express Co.American Express Co. (AXP) (credit services) (AXP) (credit services) AT&T Inc.AT&T Inc. (T) (telecom services) (T) (telecom services) Boeing Co., TheBoeing Co., The (BA) (aerospace/defense) (BA) (aerospace/defense) Caterpillar, Inc.Caterpillar, Inc. (CAT) (farm & construction equipment) (CAT) (farm & construction equipment) Citigroup, Inc.Citigroup, Inc. (C) (money center banks) (C) (money center banks) Coca-Cola Co.Coca-Cola Co. (KO) (beverages) (KO) (beverages) E.I. du Pont de Nemours & Co.E.I. du Pont de Nemours & Co. (DD) (chemicals) (DD) (chemicals) Exxon Mobil Corp.Exxon Mobil Corp. (XOM) (major integrated oil & gas) (XOM) (major integrated oil & gas) General Electric Co.General Electric Co. (GE) (conglomerates) (GE) (conglomerates) General Motors Corp.General Motors Corp. (GM) (auto manufacturers) (GM) (auto manufacturers) Hewlett-Packard Co.Hewlett-Packard Co. (HPQ) (diversified computer systems) (HPQ) (diversified computer systems) Home Depot, Inc.Home Depot, Inc. (HD) (home improvement stores) (HD) (home improvement stores) Honeywell International, Inc.Honeywell International, Inc. (HON) (conglomerates) (HON) (conglomerates) Intel Corp. (INTC) (semiconductors) Intel Corp. (INTC) (semiconductors) International Business Machines Corp. (IBM) (diversified computer systems) International Business Machines Corp. (IBM) (diversified computer systems) JPMorgan Chase and Co. (JPM) (money center banks) JPMorgan Chase and Co. (JPM) (money center banks) Johnson & Johnson Inc. (JNJ) (drug manufacturers) Johnson & Johnson Inc. (JNJ) (drug manufacturers) McDonald's Corp. (MCD) (restaurants) McDonald's Corp. (MCD) (restaurants) Merck & Co., Inc. (MRK) (drug manufacturers) Merck & Co., Inc. (MRK) (drug manufacturers) Microsoft Corp. (MSFT) (application software) Microsoft Corp. (MSFT) (application software) Pfizer, Inc. (PFE) (drug manufacturers) Pfizer, Inc. (PFE) (drug manufacturers) Procter & Gamble Co. (PG) (consumer goods) Procter & Gamble Co. (PG) (consumer goods) United Technologies Corp. (UTX) (conglomerates) United Technologies Corp. (UTX) (conglomerates) Verizon Communications (VZ) (telecom services) Verizon Communications (VZ) (telecom services) Wal-Mart Stores, Inc. (WMT) (discount, variety stores) Wal-Mart Stores, Inc. (WMT) (discount, variety stores) Walt Disney Co., The (DIS) (entertainment)Walt Disney Co., The (DIS) (entertainment) INFO FROM WIKIPEDIA.COMINFO FROM WIKIPEDIA.COM
Black Tuesday Oct. 29, 1929Black Tuesday Oct. 29, 1929
New York Stock ExchangeNew York Stock Exchange
Ch. 14.3Ch. 14.3
Hoover Struggles with the Hoover Struggles with the Great DepressionGreat Depression
Herbert HooverHerbert Hoover
Hoover’s Campaign PromiseHoover’s Campaign Promise
““A chicken in every pot and a car in A chicken in every pot and a car in every garage.”every garage.”
Boulder(Hoover) DamBoulder(Hoover) Dam
Boulder Dam (renamed Hoover Dam Boulder Dam (renamed Hoover Dam after President Hoover), located 34 after President Hoover), located 34 miles from Las Vegas, is one of the miles from Las Vegas, is one of the engineering marvels of the world. engineering marvels of the world.
Hoover Dam is 726 feet high and 660 Hoover Dam is 726 feet high and 660 feet thick at its base. feet thick at its base.
The Hoover Dam project including the The Hoover Dam project including the dam, the All-American Canal, the town dam, the All-American Canal, the town of Boulder City, highways, railroads and of Boulder City, highways, railroads and various other works, cost $165 million to various other works, cost $165 million to build.build.
Ch. 15 The New DealCh. 15 The New DealSection 1 Section 1
1932 Election1932 Election
Herbert Hoover(R)Herbert Hoover(R)
Franklin D. Franklin D. Roosevelt(D)Roosevelt(D)
Relief, Reform and RecoveryRelief, Reform and Recovery
Relief for the needyRelief for the needy Economic recoveryEconomic recovery Financial reformFinancial reform
FDR’s Brain TrustFDR’s Brain Trust -Harry Hopkins - Social Worker and -Harry Hopkins - Social Worker and
the architect of much of the New the architect of much of the New Deal.Deal.
-Henry Morgenthau-Henry Morgenthau -Louis Lowe-Louis Lowe -Cordell Hull-Cordell Hull -Frances Perkins - Sec. of Labor and -Frances Perkins - Sec. of Labor and
first female in the cabinet. first female in the cabinet. -Sam Rosenman-Sam Rosenman -Raymond Moley-Raymond Moley -Rexford Tugwell-Rexford Tugwell
Fireside ChatsFireside Chats
Fireside Chat LinksFireside Chat Links rtsp://streaming.museum.tv/realvidertsp://streaming.museum.tv/realvide
o/mbc/fdr.rmo/mbc/fdr.rm Fireside Chats of Franklin D. RooseveFireside Chats of Franklin D. Rooseve
ltlt
Deficit Spending and Priming Deficit Spending and Priming the Pumpthe Pump
Court Packing BillCourt Packing Bill http://www.hpol.org/fdr/chat/chat.rahttp://www.hpol.org/fdr/chat/chat.ra
mm
A. What were some of the reasons the A. What were some of the reasons the New Deal was challenged?New Deal was challenged?
1. Created a very powerful president that 1. Created a very powerful president that led Congress, this was a violation of led Congress, this was a violation of checks and balances.checks and balances.
2. It was a radical departure from Laissez 2. It was a radical departure from Laissez Faire ideals. Created "big government" . Faire ideals. Created "big government" .
3. Some acts appeared interfering and at 3. Some acts appeared interfering and at worst unconstitutional. worst unconstitutional.
4. Heavy debt burden - the United States 4. Heavy debt burden - the United States was engaged in deficit spending and this was engaged in deficit spending and this was unhealthy for the economy in the was unhealthy for the economy in the long run.long run.
Francis TownshendFrancis Townshend
Senator Huey LongSenator Huey Long
Share-Our-WealthShare-Our-Wealth
http://www.authenthttp://www.authentichistory.com/audioichistory.com/audio/1930s/history/193/1930s/history/19341211_Huey_Long-41211_Huey_Long-Share_The_Wealth.Share_The_Wealth.mp3mp3
Shot and killed by Shot and killed by Carl Weiss in 1935Carl Weiss in 1935
Ch. 15.2 Ch. 15.2 The Second New Deal Takes The Second New Deal Takes
HoldHold
New Deal vs 2New Deal vs 2ndnd New Deal New Deal
Restore nation’s Restore nation’s hopehope
Help banks and Help banks and stock marketstock market
Provide jobs and Provide jobs and relief for poorrelief for poor
Plan and regulate Plan and regulate the economythe economy
Pass new labor Pass new labor lawslaws
Create and expand Create and expand New Deal agenciesNew Deal agencies
Establish Social Establish Social Security for older Security for older people and people and unemployedunemployed
Eleanor RooseveltEleanor Roosevelt
1936 Election1936 Election
FDR(D)-IncumbentFDR(D)-Incumbent Al Landon(R)Al Landon(R)
