the stock market crash and social effects of the depression
TRANSCRIPT
The Stock Market Crash and Social Effects of the Depression
CHAPTER 22 SECTION 1 AND 2
An average of the stock prices of major industries
Reached an all time high during Hoover’s Presidency
People paid a great deal to the rising stock market
DOW JONES INDUSTRIAL AVERAGE
October 29, 1929
16.4 million shares were sold
Compared to an average of 4 to 8 million
BLACK TUESDAY
The massive collapse of the stock market in 1929
Overall losses totaled $30 billion
GREAT CRASH
Risky loans hurt banks
Consumer borrowing- took out loans and could no longer pay them back
Bank runs
Bank failures
Savings wiped out
Cuts in production
Rise in unemployment
LIST AND BRIEFLY DESCRIBE 5 WAYS THE GREAT CRASH SPREAD TO ALL AMERICANS.
Over a period of time, the economy grows, then
contracts
BUSINESS CYCLE
Time period from 1929 to 1941
The most severe economic downturn in American
history
GREAT DEPRESSION
A trough
WHICH PART OF THE BUSINESS CYCLE DID THE GREAT
DEPRESSION REPRESENT?
Production far outpaced demand
Wealth was unevenly distributed
The boom in stock market prices was based mainly on borrowed money, not real
value
HOW DID THE UNSTABLE ECONOMY IN THE 1920S CONTRIBUTE TO THE GREAT DEPRESSION?
An unstable economy
Overspeculation
Government policies- limited money supply to discourage lending and speculation, but
this left people short on money
LIST AND BRIEFLY DESCRIBE THE 3 UNDERLYING CAUSES OF THE DEPRESSION.
Towns of shacks, or shanties, made from
anything people could use to construct a shelter
HOOVERVILLE
-Unemployed laborers and their families
WHO LIVED IN HOOVERVILLES?
Massive dust storm that consumed the midwest
DUST BOWL
Exhaustion of the topsoil
Drought
Wind erosion
WHAT FACTORS LED TO THE CREATION OF THE DUST BOWL IN THE 1930S?
Many went hungry
Children suffered from poor diet and inadequate medical
care
WHAT IMPACT DID THE DEPRESSION HAVE ON HEALTH?
Living condition declined
Had to give up personal interests/hobbies
Many men were ashamed and left their families
Women lost jobs
HOW DID THE GREAT DEPRESSION IMPACT FAMILIES?
Competition for jobs
Legal system ignored civil rights for non-whites
Individual racism
Deportations
Lynchings
High African American unemployment
WHAT WERE SOME CAUSES AND EFFECTS OF INCREASED DISCRIMINATION DURING THE GREAT DEPRESSION?
His experiences demonstrate the hardships of finding work, which was
often only temporary or was located far from home
He and his family made the best of the situation in order
to survive
WHAT CAN YOU LEARN ABOUT THE DEPRESSION FROM WILSON LEDFORD’S EXPERIENCES?