1. Chapter 26 The Great Depression

2. What do you know about the great depression…

3. Tell me what factors made the roaring 20’s so good…

4. Why were the roaring 20’s different for Factory workers, miners, and Farmers???

5. Organizer.- Beginning page 746. Following the FLOW of the organizer please select 2-3 main facts for each section of the organizer. We will review during the last 10 minutes of class. You are responsible for completing this organizer outside of class if you do not finish by the end of the period.

6. What were some signs of economic Trouble? When Hoover took office in 1929 the economy was growing. Some had not shared in this boon as some industries struggled. – Textiles – Soft coal mining. – Farmers also faced problems. The economy began to slow but no one noticed because the Government did not keep detailed Statistics !!!

7. What was “the Crash” August 1929- some investors began to worry and sold off their stock. September 1929- More people began to sell and Stock prices fell, creating a domino effect. Due to MARGIN BUYING (using credit) many lost $$ when the sold and could not pay their bank loans back. October 29 th 1929-Black Tuesday- The Stock Market finally crashed completely.

8. How did the Depression Begin? What was the Cause? – Overproduction of goods. The production of goods increased but wages did not. Creating a HUGE surplus of products. (prices plunged). – Factories and Farms had produced too much and now had to lay off workers or shut down completely. – Business began to fail. Unemployment shot up! This created a downward spiral that triggered disaster after disaster- Banks began to fail.

9. Hard Times. In previous depressions most Americans lived on or near farms and could grow their own food to survive. During this depression most lived in cities and worked at factories. When they closed they had NO access to food. Rising Unemployment: Unemployment soared, by the early 1930’s – 1 in 4 workers was unemployed.

10. How did Hoover Respond? Government aid: Hoover urged businesses to keep workers and wages stable. – Urged charities to help out. – Was against government intervention. As conditions grew worse, Hoover setup public works projects and the government began to hire more workers. The depression grows worse: Despite all of Hoovers’ efforts the depression grew worse and he took much of the blame for the situation.

11. The Bonus Army After WW1 congress voted to give veterans bonuses, to be paid in 1945. In 1932 more than 20,000 jobless vets marched on Washington and demanded the bonus right away. They camped for months and would not leave. Eventually a conflict with the police led to the intervention of General Douglas MacArthur. The army moved in and burned the camp to the ground. This destroyed any support Hoover may have still had.