ECONOMY IN THE LATE 1920S Stock market increased value Unemployment below 4% “Everybody ought to be rich” John Raskob invest Chapter 16 Crash and Depression.

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Presentation transcript:

ECONOMY IN THE LATE 1920S Stock market increased value Unemployment below 4% “Everybody ought to be rich” John Raskob invest Chapter 16 Crash and Depression (pages )

Business begin Welfare Capitalism Increased Wages Healthcare Paid Vacations

Signs of Trouble Uneven riches-rich get richer and poor get poorer Mainly Big Businesses 80% of Families had no savings Buying on credit  New appliances  Installment buying

Playing the Market Life Savings Buy on the Margin-Credit Too many Goods, too little demand Farmers had hard times  Decreased demand for food overseas

The Stock Market Crash Stocks valued higher than their worth Stock prices drop-buyers become worried Oct. 29, 1929 stocks plummet  People try to sell stocks  Some people lost money others lost their life savings  Brokers and Banks call in loans

Effects of the Crash Ripple effect  Factories close  Unemployment  Small businesses hurt  Agricultural prices decrease  Banks collapse  Rush of depositors

U.S. Depression Affects the World Allies had to pay war debts  Germany had to reparations but couldn’t without U.S. help  Tariffs high on Imports could not sell goods  Global downward spiral

Social Effects of the Depression Affected White collar and Blue collar workers Hoovervilles-shanty towns Farm Distress  Decreased prices  Sharecroppers and tenant Farmers kicked out  Destroyed goods  Dustbowl  Drought/dust storms on the Great Plains  Left farms and moved to California for migrant farmer jobs

The Dust Bowl

Health Problems Lack of Food-Sickly people, especially children Grew food in the South Tried to sell odds and ends Picked trash cans

Family Problems Moved in together Men felt like failures-ashamed Marriages postponed Women worried about feeding kids  Men thought women were taking their jobs

Discrimination Increased African Americans moved north as janitors and porters Had to get private help-Government discriminated Southerners said African Americans stole white jobs  Lynchings increased  Denied civil rights  Scotsboro boys

Surviving the Great Depression People helped each other Farmers bought farms and gave them back to their owners Moves to the left  Some became socialists but not many  Looking Ahead  Humor-Hoover blankets etc

Prohibition Repealed 21 st Amendment  Increased production in some industries  Empire State Building  End of an Era  The Babe, Al Capone, Henry Ford, and Calvin Coolidge

Election of 1932: A Turning Point in History Hoover’s Voluntary Action Hoover Dam Tariffs John Maynard Keyes Veteran’s March  Bonus Army

The Bonus Army

The New Deal FDR  Harvard  New York State Senate  Assistant Secretary of the Navy  Polio  Became Governor

FDR

Political Cartoon

Eleanor Roosevelt Teddy’s niece and FDR’s distant cousin Worked at settlement house Women’s Rights Many people voted against Hoover

Eleanor

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