2. 1929-1939 Stock market crash Didn’t realize the effect it would have No money to replenish what was borrowed Many found being broke humiliating.

3. The Roaring 20’s Set up to the Great Depression The new concept of “credit” People were buying: –Automobiles –Appliances –Clothes Fun times reigned –Dancing –Flappers –Drinking

4. Why was this bad? Credit system –People didn’t really have the money they were spending WWI –The U.S. was a major credit loaner to other nations in need –Many of these nations could not pay us back

5. The Stock Market People bought stocks on margins –If a stock is $100 you can pay $10 now and the rest later when the stock rose Stocks fall –Now the person has less than $100 and no money to pay back

6. The Bottom Falls Out!! Depression – period of severely negative growth in the economy Recession – Two quarters of negative growth Black Tuesday: 29 October 1929 (marks beginning) Stock market crashes (after several days of panic) and loses $14 billion in value! Banks Fail: Over 9,000 banks eventually close: $140 billion disappears Nationwide – industry plummets, jobs disappear Unemployment figures eventually hit 25% http://www.authentichistory.com/1930s/fdr/images/1929 _panic_on_wall_street.jpg

7. And then…. With people panicking about their money investors tried to sell their stocks –This leads to a huge decline in stocks –Stocks were worthless now People who bought on “margins” now could not pay Investors were average people that were now broke

8. Presidents didn’t help The Presidents: Coolidge and/or Hoover Aka: “Silent Cal” and “The Great Engineer” Possible motives: Foolishness (wrong policies) Means: they help to control the legislation passed in the nation, setting policy http://www.whitehouse.gov/histo ry/presidents/cc30.html http://www.whitehouse.gov/histo ry/presidents/hh31.html

9. Herbert Hoover was president at the start Philosophy: We’ll make it! What He Did: Nothing The poor were looking for help and no ideas on how to correct or help were coming

10. Farmers were already feeling the effects –Prices of crops went down –Many farms foreclosed People could not afford luxuries –Factories shut down –Businesses went out Banks could not pay out money People could not pay their taxes –Schools shut down due to lack of funds Many families became homeless and had to live in shanties

12. Many waited in unemployment lines hoping for a job.

13. People in cities would wait in line for bread to bring to their family.

14. Some families were forced to relocate because they had no money.

15. “Hooverville” Some families were forced to live in shanty towns –A grouping of shacks and tents in vacant lots They were referred to as “Hooverville” because of President Hoover’s lack of help during the depression.

18. A drought in the South lead to dust storms that destroyed crops. “The Dust Bowl”

19. The South Was Buried Crops turned to dust=No food to be sent out Homes buried Fields blown away South in state of emergency Dust Bowl the #1 weather crisis of the 20th century

21. Two Families During the Depression

22. A Farm Foreclosure

23. Some families tried to make money by selling useful crafts like baskets.

24. What Could be Done? More government control: –Make ‘cheap money’(easy credit) –Guarantee banks –Control production to manage costs –Employ people directly Less government control: –‘Ride it out’ –Cut taxes to help create more investment –Encourage private donations –Hope people ‘figure it out’ http://www.presidentialtimeline.org/html/images/objects/0054_lg.jpg Was this the government’s responsibility?

25. *FDR* When he was inaugurated unemployment had increased by 7 million. Poor sections (like Harlem) had 50% of the pop. unemployed Instated the “New Deal”

26. People everywhere were effected by the depression It wasn’t till President Roosevelt took over and tried to put the economy back together that people even saw a glimmer of hope

27. Major Historical Happenings... Jim Crow Laws Scottsboro Trials Recovering from the Great Depression Racial Injustice Poor South

28. Jim Crow Laws After the American Civil War most states in the South passed anti-African American legislation. These became known as Jim Crow laws.American Civil War These laws included segregation in… –Schools-- Hospitals –Theaters-- Water fountains –Restaurants –Hotels –Public transportation –Some states forbid inter-racial marriages

29. These laws were instituted in 1896 and were not abolished till the late 1950’s (even then still not completely).

30. 9 young African- American men (13- 20) accused of raping 2 white girls in 1931 Immediately sentenced to death Trials went on for nearly 15 years before all the men were dismissed

31. Started on a train bound for Memphis Several white men boarded and picked a fight with the black men Whites were forced off train by the 12 black men. The white men reported the the black men had raped two white girls on the train to authorities They were immediately arrested and tried in front of an all-white jury.

32. The trials caused a huge uproar amongst the black community.