The Great Depression 5 th Grade Social Studies

The Great Depression 5 th Grade Social Studies

For this Power. Point… • Only copy down the notes you find in blue text

Stock Market Crash of 1929 • The stock market is a place where people buy and sell shares of businesses. • If more people want to buy a share, the price goes up. • If more people want to sell a share, the price goes down. • In the 20 s, prices in the stock market kept getting higher and higher.

Stock Market Crash of 1929 • Fall 1929 – people started taking money out of the stock market • In October 1929, the stock market crashed, meaning the prices fell very low • Almost everyone who owned stock lost money in the stock market

The Great Depression • A depression is a time when businesses close or lose money, and many people lose their jobs. People often have a lot less money. • The Great Depression was the worst depression we’ve had so far. • It ended the good times of the Roaring 20 s.

The Great Depression • Businesses could not sell what they made • Workers lost their jobs because businesses couldn’t pay them • People lost their homes because they didn’t have money to pay for them • Banks began to fail because people couldn’t pay their loans back to the banks

Hoovervilles • “Hoovervilles” were named for the president during that time, Herbert Hoover • He did not cause the Depression, but he didn’t do much to make it better • They were towns of shacks made from wood, tin, and paper.

Hoovervilles

Hoovervilles

Hoovervilles

President Roosevelt (FDR) • In 1932, FDR was elected President • He promised a “New Deal” to end the Great Depression • His famous quote is: “The only thing we have to fear is fear itself. ”

New Deal Programs • FDR created many new programs to help end the Great Depression. • Created thousands of jobs • Social Security Act – provides $ for workers after they retire • TVA – created dams to prevent flooding in the TN area • CCC – planted trees and took care of natural parks and areas • WPA – built roads, hospitals, and schools

Famous People from the 1930 s • Duke Ellington – Jazz Musician • Margaret Mitchell – author of Gone with the Wind • Jesse Owens – African-American athlete who was the first to compete in the Olympics

What ended the Great Depression? • The government programs created by the New Deal were supposed to end the Great Depression. • They did help businesses, families, and individuals, but by themselves, the New Deal programs were NOT able to end the Great Depression. • So what ended the Great Depression?

WWII • When WWII came about, the United States entered a wartime economy. • Remember the wartime economy from WWI? • Factories in the US began manufacturing weapons, planes, ships, ammunition, uniforms, etc. for soldiers in other countries. • Later, when we entered WWII, we began making those same items for our soldiers.

Wartime Economy • How does a wartime economy help pull a country out of a depression? • Factories make money when other countries buy their products! • More people get jobs because there are so many weapons (and other items) to produce! • Americans begin saving and using less to save for the war! • All of this = $$$$$$$$$$$$$$