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SS.912.A.5.11 Examine causes, course, and consequences of the Great Depression and the New Deal.

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Presentation on theme: "SS.912.A.5.11 Examine causes, course, and consequences of the Great Depression and the New Deal."— Presentation transcript:

1 SS.912.A.5.11 Examine causes, course, and consequences of the Great Depression and the New Deal.

2   Black Monday/Tuesday- The stock market dropped 30 points or about 12% both days  Crash caused by “speculation”  Buying on Margin-Using credit to invest in the stock market  Glass-Stegall Act 1932- separated commercial banks from investment banks Stock Market Crash 1929

3   By 1932, 5,761 banks had failed (22% of total)  Many banks invested in stocks before the crash  Thousands of businesses failed  20,000 in 1929; 30,000 in 1932  Unemployment reached 25% by 1932 (13 million people) excluding farmers. Effect

4   Total wages dropped from $12 billion to $7 billion from 1929 to 1932.  By 1932, 25% of farmers lost their farms  People experienced loss of self-worth  Many families broke up; marriage rate and birth rate declined.  3 million people became homeless and lived in makeshift shacks known as "Hoovervilles" Effect

5   President Hoover- Believed Europe was to blame  Hawley-Smoot Tarrif- highest peacetime tarriff in history-60%  Volunteerism- urged businesses to avoid layoffs or wage cuts  Private charity not enough to save the poor  Bonus Army- 14,000 veterans lobbied for passage of a bonus bill  Hoover insisted the government not pass the bill Government Response

6   Franklin D. Roosevelt- Won the election of 1932  New Deal- A set of government actions meant to end the Great Depression-Relief, Recovery, Reform  Unprecedented passage of legislation called the “First Hundred Days” Government Response

7   Bank Holiday 1933- Banks were temporarily closed to make sure they were sound and to close unsound banks  Civilian Conservation Corps- employed 2.75 young men in conservation jobs  Federal Emergency Relief Admin- 500 million dollars to states to help the poor New Deal Reforms

8   Agricultural Adjustment Act- paid farmers to reduce their crop or livestock production  Led to corruption  Tennessee Valley Authority-20 dams built in Tennessee to help provide employment  Home Owners Loan Corporation 1933- Refinanced mortgages on 1 million non-farm homes New Deal Reforms

9   National Recovery Admin- maximum work hours, minimum wage, minimum prices  Wagner Act- Reasserted the right of labor to self organize  Social Security Act-old-age pensions for retired workers as well as poor mothers or handicapped New Deal Reforms

10   The American Liberty League-Group of wealthy republicans and conservative democrats  Wanted to fight “socialist New Deal”  Father Charles Coughlin- Radio host who thought the deal was not strong enough Critics

11   Senator Huey Long- promised to make “every man a king” and supplyed each family with 5,000 dollars at expense of the rich  Dr. Francis Townsend- provided senior citizens with 200 dollars a month, funded by a national sales tax Supporters

12   In late 1933, drought struck states in the Mississippi River area and the Great Plains (Texas, Arkansas, Oklahoma, Kansas, Missouri)  In five years, 350,000 Oklahomans and Arkansans -- "Okies" and "Arkies" migrated to southern California. Dust Bowl


14   Based on the cartoon, how did President Roosevelt want to ease the Great Depression?  A. by expanding the role of government in citizens’ lives  B. by expanding the authority of legislative representatives  C. by regulating the stock purchases by individual investors  D. by restricting the spending by government on domestic projects

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