Good morning! Please get out your… Major Themes sheet Chart on the causes & impacts of the Great Depression Guided Notes sheet from last class Any notes you took from the homework. Be prepared for a brief quiz.

Paper 2 Part A Practice Quiz You will need a ½ sheet of paper. Using a partner & your notes, outline a response to the following question: Why was there a great crash of the US stock market in October of 1929? Be prepared to share and turn in your work. See other Cambridge questions from Guided Notes sheet.

End Four Minutes First Four Think of a time when your life changed dramatically. How did you react to this change? To change the timings of this timer, you need to enter the animation settings, and change the timings for the Isosceles Triangles. There will be 2 that need changing (to the same amount) – one animates the top triangle emptying, whilst the other animates the bottom triangle filling. When you change the timings these have to entered as a number of seconds. End

Four Minutes First Four Should the national government help people in times of severe economic crisis? What would be the benefits of this, and what might be the pitfalls? To change the timings of this timer, you need to enter the animation settings, and change the timings for the Isosceles Triangles. There will be 2 that need changing (to the same amount) – one animates the top triangle emptying, whilst the other animates the bottom triangle filling. When you change the timings these have to entered as a number of seconds. End

I see, I think, I wonder…

The Great Depression & The New Deal

Unit 4 How do we react to change? Great Depression & The New Deal

Guiding Question #1 How great was the impact of the Great Crash and the Great Depression on the USA?

1920s had been a time of great prosperity! GQ#1 - How great was the impact of the Great Crash and the Great Depression on the USA? The Jazz Age Harlem Renaissance 1920s had been a time of great prosperity!

Why Such Prosperity in 1920s? Access to electricity Mass production of new products Lower taxes after the war Republican control after Progressive Era & WW I Laissez-Faire, Higher Tariffs Widespread use of credit Installment plans Buying on margin

Why Such Prosperity in 1920s? Stock Market & Buying on Margin Bull/Bear Market Role of Banks – speculators Superficial prosperity?

1929 Warnings Stock Inflation Overproduction Farm Crisis Stock market value from $27B to $87B Overproduction Farm Crisis

Collapse Black Thursday – Oct. 24, 1929 Black Tuesday – Oct. 29 Effects? Investors – loss of $30 B Banks Public Businesses Workers

CAUSES OF THE GREAT DEPRESSION LAISSEZ-FAIRE POLICIES of 1920s OVER PRODUCTION DISPARITY OF WEALTH CAUSES OF THE GREAT DEPRESSION LAISSEZ-FAIRE POLICIES of 1920s STOCK MARKET CRASH OVERUSE OF CREDIT WAR PAYMENTS & TRADE IMBALANCE TARIFFS

Class website: Unit 5 subtab “Impacts of GD” GQ#1 - How great was the impact of the Great Crash and the Great Depression on the USA? Class website: Unit 5 subtab “Impacts of GD” What were the impacts? Categories? Specifics? Which were most significant & why?

Impacts of the Great Crash & Great Depression Economic Social Political

Effects of Depression Unemployment Massive poverty Businesses closed 1.2 m 1929 12.1 m 1932 Massive poverty Businesses closed 5,500 banks closed GNP from $104 B to $59 B Farm Prices down 60% 25% unemployment Depression/suicide

Effects of Depression Immigration? Political parties? Laissez-Fare? International involvement? Families?

So what? How does the US government respond to this great crisis? President Hoover vs. FDR

Compare/contrast the philosophy of each. GQ#2 - How effective were the strategies used by Presidents Hoover and Roosevelt to deal with the domestic problems facing the USA in the 1930s? Compare/contrast the philosophy of each. Create a Venn diagram Read speech excerpts. Use pp. 496-499, as needed – how do they compare? Be prepared to discuss with the class

Herbert Hoover Philosophically Opposed Bold response But… 1932 Reconstruction Finance Corporation Public Works Home Loan Bank Act Effects But… Called for tax hike in 1931 Hawley-Smoot Tariff Opposed Unemployment Ins. Bonus Army

Paper 2 Part A Why did President Hoover struggle to deal with the impact of the Great Crash?

1932 Election Candidates Philosophies

Shift in power to whom?

Franklin D. Roosevelt Philosophy & Goals Brain Trust The Hundred Days “The only thing we have to fear is fear itself.” Relief Recovery: industrial & agriculture Reform Brain Trust Rejected laissez-faire Competition of ideas Eleanor Roosevelt The Hundred Days