Thursday 1/28 RAP Do you have any questions about the test? Do you have any questions about the test?Today: Unit 4 Test Unit 4 Test  Name  Form A or B  Use capital letters  Number straight down the paper …NOT across Organize notes for note check Organize notes for note check Read and take notes on Ch DUE Monday!!! Read and take notes on Ch DUE Monday!!!

Ch “The Crash and its Aftermath” pg 418 Vocabulary: stock, speculation, margin, depression, unemployment –as you read!!! Vocabulary: stock, speculation, margin, depression, unemployment –as you read!!! Why did the Crash Occur? Why did the Crash Occur? –Stock Market Speculation –Beginning of the end –Onset of the Depression Causes of the Great Depression Causes of the Great Depression –Farms and industries –Wealth distribution –Monetary policy –Decline in foreign trade Hoover’s Response Hoover’s Response Depression deepens Depression deepens Too little too late Too little too late –Bonus Army –Election of 1932

NOTES: UNIT 4: CH. 11 AND 12--Friday 1. ABC Review list 2. "Boom" video questions 3. Ch Postwar Turmoil --notes 4.. Ch Republican Policies – –President Harding, Coolidge, and Hoover notes – –Notes on disarmament, Dawes Plan, Kellogg Briand, and LA 5 Ch and 11.2 Vocab and events illustrations guesses. LIST 6. Ch "Prosperity and American Business" notes Power point 7. Ch The Changing Nature of Work Power point notes -- business and Ford 8. Ch s Leisure --automobile, Route 66, fads, etc. 9. Ch Sports, entertainment, etc. 10. Ch Life notes --KKK, Prohibition, National Origins Act, etc. 11.AZ in the 1920s PPT notes

Friday RAP Who was President towards the end of the 1920s? Who was President towards the end of the 1920s? –What was his nickname? –What was his nickname? Today: America the Story of Us – “BUST” America the Story of Us – “BUST” –Notes HW: Complete Ch notes by Monday. HW: Complete Ch notes by Monday.

Monday 2/1 RAP RAP –What would happen if 25% of the people in Tucson and the surrounding areas lost their jobs? –What if banks lost most people’s savings? Today: Today: –Review Ch –Read page 416 and look at picture on 417. –SWBAT describe causes of the Great Depression.  Understand the issues

Factors leading to THE GREAT DEPRESSION Economic Collapse Objective: Describe causes of the Great Depression in 1920s and 1930s. Standards: Strand 1: U.S. History; Concept 8: Great Depression and WWII; PO 1: Describe causes and consequences of the Great Depression; a. economic causes of the Depression. (economic policies of 1920s, investment patterns and stock market crash)

Great Depression: Pages Great Depression: Pages In your notes In your notes –After reading page 416, and analyzing the picture on page 417, how do you think people would react to this information today?  Be specific.

Title your notes— Title your notes— ”Causes of the Great Depression.” -If you would like you can take Cornell notes, power level notes or put in a spoke diagram. -You will not have to take notes on everything. I will let you know what is important. -You will not have to take notes on everything. I will let you know what is important.

REVIEW: Postwar Economic Boom Describe what you see here? Describe what you see here? What message does the billboard send? What message does the billboard send? What irony is there in this photograph? What irony is there in this photograph?

Review: Economic Boom--Twenties Prosperity Economic boom of the 1920s affected society in several ways. Economic boom of the 1920s affected society in several ways. –Americans were earning more money than ever. –National income rose from $61 bil to $87 bil –More money to spend on luxury items. –Americans own over 23 million cars, ¾ of all cars in the world. –Factories increased the number of goods produced. –By 1929 the U.S. stock market was at all time high.

Review: Economic Boom Depression Foreshadowed By late 1929 By late 1929 –Unemployment was on the Rise –Farmers were losing their land—over production –Stock prices were dropping –Americans living in poverty was increasing The Stock Market crash did not cause the 10 year long Great Depression. The Stock Market crash did not cause the 10 year long Great Depression. Historians agree on six factors-leading to the depression Historians agree on six factors-leading to the depression 1.Republican domestic and international economic policies 2.Unchecked stock speculation 3.Weak and unregulated banking institutions 4.Overproduction of goods 5.The decline of the farming industry 6.Unequal distribution of wealth

*Republican Economic Policies Who do you see here? Who do you see here? What is the mood of the photograph? What is the mood of the photograph? Do you think they are wealthy or poor? Do you think they are wealthy or poor?

Republican Economic Policies—**Domestic Policies President Calvin Coolidge and his administration implemented pro business policies. President Calvin Coolidge and his administration implemented pro business policies. –Secretary of Treasury, Andrew Mellon, believed that economic policies that benefitted big business and America’s wealthiest citizens would eventually benefit all Americans, “trickle down economics.”  Slashed taxes for big businesses  Reduced taxes for personal income over $60,000 a year. (one corporation received a $15 million refund.)  Mellon cut government expenditures and raised taxes for the middle and lower classes.  Big businesses did not follow through by raising wages, use of machines, etc.

Republican Economic Policies— **Foreign policies After WWI, many war torn European countries could not repay the U.S. After WWI, many war torn European countries could not repay the U.S. –U.S. was asked to reduce debt or forgive, but Coolidge would not. –European nations fell deeper into debt. –Imposed high tariffs on imported goods to discourage Americans from buying foreign merchandise.

*Stock speculation What is this? What is this? Who would be interested in this? Who would be interested in this?

**Stock Market Speculation Speculators turned their focus on the stock market. Speculators turned their focus on the stock market. –Investors believed that the stock market would go up indefinitely and that companies’ profits would continue to increase. –They bought large quantities and then turned around and sold the stock for a higher price, and made a quick profit. –Companies stock became artificially inflated and did not show companies actual worth. –Bought on margin- paying only a fraction of a stock’s dollar value. –President Hoover warned investors to curb their speculation.

*Stock Market Crash & Banking Industry Collapse What do you see here? What do you see here? Where do you think this picture was taken? Where do you think this picture was taken? What are the people doing? What are the people doing?

**Stock Market Crash 1929 Stock market crash Stock market crash- –Analysts warned that the bull market (a market in which prices are constantly rising) could not continue indefinitely. –Investors began selling their stocks while they were high. –Stock prices then fell, companies slowed production, which led to price drops. –On October 24, 1929, investors began to sell in an attempt to get rid of stocks. –Stock prices plummeted. –J.P. Morgan attempted to stabilize the market by purchasing investors’ stocks. –On October 28, investors sold their stocks at a loss of over $4 billion. –**October 29, Black Tuesday, orders were to sell at any price. –By the end of October, the market was in ruins and the Great Depression had officially began.

**Collapse of the Banking Industry The stock market crash triggered a collapse of the banking industry. The stock market crash triggered a collapse of the banking industry. –Over extended to stock investors and brokers Republican policies of government of not interfering or imposing regulations was weak and not regularly enforced. Republican policies of government of not interfering or imposing regulations was weak and not regularly enforced. Depositors money was not insured----Banks permitted investors to buy stocks on large margins of credit. Depositors money was not insured----Banks permitted investors to buy stocks on large margins of credit.

Banking Collapse Families that played the stock market lost their savings. Families that played the stock market lost their savings. Investors who had bought stocks on margin either could not sell their stocks at all, or were forced to sell them at a low price. Investors who had bought stocks on margin either could not sell their stocks at all, or were forced to sell them at a low price. Unemployment soared. Unemployment soared.

*Overproduction What do you see here? What do you see here? What are they doing? What are they doing?

Overproduction – **Industrial goods After WWI technological advances in agriculture, electrical power transportation, and factory production changed the way American people lived and worked. After WWI technological advances in agriculture, electrical power transportation, and factory production changed the way American people lived and worked. –Americans eagerly purchased material goods. –Advertisements enticed consumers. –Machines produced goods more quickly. –Industrialists expanded facilities and increased production. –The market was saturated with goods.

Overproduction— **Agricultural goods New technology helped farmers become more efficient and they produced more goods. New technology helped farmers become more efficient and they produced more goods. Foreign demand for products fell. Foreign demand for products fell.

*Farming Industry What do you see here? What do you see here? Why do you think there are no people in the photo? Why do you think there are no people in the photo?

*Farming Industry Farmers borrowed heavily from banks to pay for new equipment. Could not repay banks. Farmers borrowed heavily from banks to pay for new equipment. Could not repay banks. Farmers income dropped by 50 percent and property values decreased. Farmers income dropped by 50 percent and property values decreased. Dust Bowl drove over one million people from their farms between 1920 and Dust Bowl drove over one million people from their farms between 1920 and –Farmers went to California for work. –Many lived in makeshift shacks.

*Unequal Wealth Distribution What do you see? What do you see? How might their life be different than the waiter? How might their life be different than the waiter?

*Unequal distribution of wealth Gap between rich and poor Gap between rich and poor –Wealth remained in the hands of a few –60 percent of families lived on or below the minimum subsistence level of $2,000 a year. –Poor struggled to survive –The wealth income rose 75 percent compared to the poor of 9 percent. Purchasing power lost Purchasing power lost –People could not afford to purchase items.

Summary The Great Depression The Great Depression, the worst depression of the twentieth century, lasted well into the 1930s. The Great Depression, the worst depression of the twentieth century, lasted well into the 1930s. How does this compare to the problems we have faced in the last 10 years?

Hoover’s Response: pg What action did Hoover take after the stock market crashed? 1.Was this good enough? Why or why not? 2. What was the RFC and who did it help? 3. What did the Emergency Relief Act do? 1.Did these two acts help the country? Explain. Protests 1. Who was the Bonus Army? 2. Describe what happened to them?

Finish reading Ch and taking notes. If you have completed 13.1; please skim through 13.2 and 13.3— If you have completed 13.1; please skim through 13.2 and 13.3— –Look at pictures, graphs, maps, etc.