chapter 16 crash and depression 1929-1933 (pages 474-504)
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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. - PowerPoint PPT PresentationTRANSCRIPT
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•ECONOMY IN THE LATE 1920S•Stock market increased value•Unemployment below 4%•“Everybody ought to be rich”•John Raskob•invest
Chapter 16 Crash and Depression 1929-1933 (pages
474-504)
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Business begin Welfare Capitalism
Increased WagesHealthcarePaid Vacations
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Signs of Trouble
Uneven riches-rich get richer and poor get poorer
Mainly Big Businesses80% of Families had no savingsBuying on credit
New appliancesInstallment buying
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Playing the Market
Life SavingsBuy on the Margin-CreditToo many Goods, too little demand
Farmers had hard timesDecreased demand for food overseas
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The Stock Market Crash
Stocks valued higher than their worthStock prices drop-buyers become worriedOct. 29, 1929 stocks plummet
People try to sell stocksSome people lost money others lost
their life savingsBrokers and Banks call in loans
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Effects of the Crash
Ripple effectFactories closeUnemploymentSmall businesses hurtAgricultural prices decreaseBanks collapse
Rush of depositors
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U.S. Depression Affects the World
Allies had to pay war debtsGermany had to reparations but couldn’t without U.S. help
Tariffs high on Imports could not sell goods
Global downward spiral
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Social Effects of the Depression
Affected White collar and Blue collar workers
Hoovervilles-shanty townsFarm 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
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The Dust Bowl
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The Dust Bowl
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Health Problems
Lack of Food-Sickly people, especially children
Grew food in the SouthTried to sell odds and endsPicked trash cans
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Family Problems
Moved in togetherMen felt like failures-ashamedMarriages postponedWomen worried about feeding kidsMen thought women were taking their jobs
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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
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Surviving the Great Depression
People helped each otherFarmers bought farms and gave them back to their owners
Moves to the leftSome became socialists but not many
Looking Ahead Humor-Hoover blankets etc
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Prohibition Repealed
21st AmendmentIncreased production in some industries
Empire State BuildingEnd of an Era The Babe, Al Capone, Henry Ford, and Calvin Coolidge
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Election of 1932: A Turning Point in History
Hoover’s Voluntary ActionHoover DamTariffsJohn Maynard KeyesVeteran’s March
Bonus Army
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The Bonus Army
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The New Deal
FDR Harvard New York State Senate Assistant Secretary of the Navy Polio Became Governor
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FDR
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Political Cartoon
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Eleanor Roosevelt
Teddy’s niece and FDR’s distant cousin
Worked at settlement houseWomen’s RightsMany people voted against Hoover
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Eleanor