the great depression unit 8, lesson 4. essential idea economic conditions of the 1920s helped start...
TRANSCRIPT
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The Great Depression
Unit 8, Lesson 4
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Essential Idea
• Economic conditions of the 1920s helped start the Great Depression, and Herbert Hoover’s insufficient response led to the election of Franklin Roosevelt.
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The Great Depression
• Previous “panics”
• The business cycle
• The Great Depression
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Early Indicators
• Wealth gap• Poor farm economy
– Agricultural Marketing Act (1929)
• Global economic problems
• Growing consumer debt
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Causes of the Great Depression
• O.B.O.E.– Overspeculation– Bank failures– Overproduction– Economic policies (of the government)
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Overspeculation
• “Playing the market”
• Buying on margin
• Margin call
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Overspeculation
• Black Thursday• Black Tuesday (October 29th, 1929)• Investor reactions
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Bank Failures
• Banks and the stock market
• Banks collapse
• Bank runs
• Life savings
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Overproduction
• Overproduction
• Installment plans
• Unemployment
• Downward spiral
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Economic Policies
• Hawley-Smoot Tariff (1930)
• Intended effects
• Actual effects
• The Great Depression Begins
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Hoover’s Foreign Policy Response
• World wide depression
• Hawley-Smoot Tariff (1930)
• Debt moratorium (1931)
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Hoover’s Domestic Response
• “Rugged individualism”
• Idealism vs. Reality• Federal Farm Board• Reconstruction
Finance Corporation (RFC)
• Direct Relief• Results • Great Depression Set
s In
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Protest• Farm Holiday
Association• Bonus Army• Douglas MacArthur • Public response• Bonus Army
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Urban Life During the Great Depression
• Hobos • Breadlines• Hoovervilles,
etc. • Hoover-probl
ems
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Rural Life During the Great Depression
• Farming techniques
• Drought
• Dust Bowl– Okies – The Dust Bowl
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Life During the Great Depression
• Women
• Blacks
• Mexican Americans
• Minorities in the Depression
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Election of 1932
• Herbert Hoover (Republicans)
• Hoover Loses Support• Franklin D. Roosevelt
(Democrats)• Results• Hoover as a “lame duck”• 20th Amendment (1933)
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