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HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 1 Chapter 15 THE GREAT DEPRESSION Section 1: Prosperity Shattered Section 2: Hard.

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Presentation on theme: "HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 1 Chapter 15 THE GREAT DEPRESSION Section 1: Prosperity Shattered Section 2: Hard."— Presentation transcript:

1 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 1 Chapter 15 THE GREAT DEPRESSION Section 1: Prosperity Shattered Section 2: Hard Times Section 3: Hoover’s Policies

2 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 2 Objectives: Why did financial experts issue warnings about business practices during the 1920s? Why did financial experts issue warnings about business practices during the 1920s? Why did the stock market crash in 1929? Why did the stock market crash in 1929? How did the banking crisis and subsequent business failures signal the beginning of the Great Depression? How did the banking crisis and subsequent business failures signal the beginning of the Great Depression? What were the main causes of the Great Depression? What were the main causes of the Great Depression? Section 1: Prosperity Shattered

3 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 3 Warnings about business practices farm crisis farm crisis “sick” industries “sick” industries consumers’ reliance on credit consumers’ reliance on credit stock speculation stock speculation Section 1: Prosperity Shattered

4 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 4 Reasons for the stock market crash of 1929 Economic factors such as rising interest rates began to worry investors. Economic factors such as rising interest rates began to worry investors. Investors sold stocks. Investors sold stocks. Stock prices dropped sharply, fueling panic. Stock prices dropped sharply, fueling panic. Heavy selling continued. Heavy selling continued. Section 1: Prosperity Shattered

5 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 5 Events signaling the Great Depression Banks failed due to heavy defaults, margin calls, and heavy withdrawals. Banks failed due to heavy defaults, margin calls, and heavy withdrawals. Bank failures deprived businesses of necessary resources and customers. Bank failures deprived businesses of necessary resources and customers. Businesses closed and workers lost their jobs. Businesses closed and workers lost their jobs. Section 1: Prosperity Shattered

6 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 6 Causes of the Great Depression The global economic crisis decreased exports. The global economic crisis decreased exports. Unequal distribution of income reduced the total purchasing power available in the economy. Unequal distribution of income reduced the total purchasing power available in the economy. Consumer debt undermined individuals and increased economic chaos. Consumer debt undermined individuals and increased economic chaos. Section 1: Prosperity Shattered

7 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 7 Objectives: How did unemployment during the Great Depression affect the lives of American workers? How did unemployment during the Great Depression affect the lives of American workers? What hardships did urban and rural residents face during the depression? What hardships did urban and rural residents face during the depression? How did the Great Depression affect family life and the attitudes of Americans? How did the Great Depression affect family life and the attitudes of Americans? How did popular culture offer an escape from the Great Depression? How did popular culture offer an escape from the Great Depression? Section 2: Hard Times

8 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 8 Unemployment during the Great Depression rose sharply rose sharply created severe financial problems created severe financial problems created severe emotional problems created severe emotional problems Section 2: Hard Times

9 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 9 Hardships during the depression poverty poverty diminished expectations diminished expectations low prices or lack of market for farm products low prices or lack of market for farm products farm foreclosures farm foreclosures hunger hunger homelessness homelessness deportation for aliens deportation for aliens Section 2: Hard Times

10 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 10 Great Depression’s effects on family life and attitudes of Americans fractured some families, forced others to band together for survival fractured some families, forced others to band together for survival divorce rates up divorce rates up birth rates down birth rates down many psychological problems many psychological problems Section 2: Hard Times

11 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 11 Popular culture during the depression movies movies radio radio comic books and popular novels comic books and popular novels Section 2: Hard Times

12 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 12 Objectives: Why did President Hoover oppose government-sponsored direct relief for individuals during the Great Depression? Why did President Hoover oppose government-sponsored direct relief for individuals during the Great Depression? How did the Hoover administration attempt to solve the depression’s economic problems, and how successful were these efforts? How did the Hoover administration attempt to solve the depression’s economic problems, and how successful were these efforts? How did radicals and veterans respond to Hoover’s policies? How did radicals and veterans respond to Hoover’s policies? Why was Franklin D. Roosevelt such a popular candidate in the 1932 election? Why was Franklin D. Roosevelt such a popular candidate in the 1932 election? Section 3: Hoover’s Policies

13 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 13 Hoover’s opposition to government relief during the Great Depression President Hoover believed that individuals and businesses should be self-reliant and that government help would create a bureaucracy. Section 3: Hoover’s Policies

14 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 14 Hoover’s attempts to solve economic problems Public-works programs such as building Boulder Dam failed to relieve entrenched depression. Public-works programs such as building Boulder Dam failed to relieve entrenched depression. The Federal Farm Board, which made loans, established cooperatives, and bought surplus goods, avoided some foreclosures, but failed to end the farm crisis. The Federal Farm Board, which made loans, established cooperatives, and bought surplus goods, avoided some foreclosures, but failed to end the farm crisis. The Reconstruction Finance Corporation, which loaned taxpayer money to stabilize industries, helped some companies avoid bankruptcy, but used money for businesses, not people. The Reconstruction Finance Corporation, which loaned taxpayer money to stabilize industries, helped some companies avoid bankruptcy, but used money for businesses, not people. Section 3: Hoover’s Policies

15 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 15 Radical response to Hoover’s policies staged protests staged protests became involved legally became involved legally Veterans’ response gathered in Washington D.C. to demand payment of their pension bonuses gathered in Washington D.C. to demand payment of their pension bonuses Section 3: Hoover’s Policies

16 HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 16 Reasons for Roosevelt’s popularity Roosevelt’s optimism and enthusiasm contrasted with Hoover’s gloom. Roosevelt’s optimism and enthusiasm contrasted with Hoover’s gloom. As governor of New York, Roosevelt had designed new relief programs. As governor of New York, Roosevelt had designed new relief programs. Section 3: Hoover’s Policies


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