The Great Depression and Dust Bowl Essential Questions

The Great Depression and Dust Bowl • Essential Questions: – Analyze the political, economic, and social impact of the Great Depression on Texas – Explain how the Dust Bowl affected the political, economic, and social development of Texas

Stock Market Crash of 1929 • Herbert Hoover became President of the U. S. in 1929. • He had been in office for only 7 months when Wall Street stock market prices fell sharply— culminated on Oct. 29, aka “Black Tuesday”.

Stock Market Crash of 1929 • Many investors, hoping to make quick fortunes, drove up the price of stock. • Some investors borrowed money heavily to buy stocks, and when stock prices fell, those investors and the banks that loaned them money were wiped out.

The Great Depression • Factories closed • Widespread unemployment • Low morale • Hoover greatly underestimated the severity of the crisis and believed that relief efforts should begin at the state and city levels. • “Hoovervilles” emerge— shanty towns built by homeless people

Overproduction • Ross Sterling elected as governor in 1930 • Wildcatter, Columbus Marion “Dad” Joiner, drilled an oil well in northern Rusk County. – First well of the East Texas Oil Field; largest ever at the time – Provided jobs for farmers and timber workers

Overproduction • Overproduction caused oil prices to drastically drop. • 1931 - TRC issued an order for operators to limit production, but they still pump oil anyway • Governor Sterling declared martial law and sent Texas National Guard to enforce it • 1935 - oil prices stabilize

Overproduction • 1920 s – Price of cotton declines • 1930 s – Stored cotton created large surpluses and drops price even lower • Texas Dep’t. of Agriculture urged farmers to reduce number of acres planted in cotton.

Overproduction • After World War I, when wheat prices were high, farmers tried to earn more money by planting more crops. • But, during the 1920 s, wheat prices dropped drastically from overproduction.

The Dust Bowl • Farmers plowed under the grasses of the plains to plant crops, but nothing could hold the soil down from strong winds. • A severe drought occurred in the 1930 s and dust storms made the area into a “Dust Bowl”.

http: //www. pbs. org/wgbh/americanexperience/films/dustbowl/player/

• Lasted for seven years • Generally covered a five-state area: Colorado, Kansas, Oklahoma, New Mexico, and Texas • Motorists often could not see 20 feet down the street • People became ill from lung diseases • Many families lost their farms because of the difficult economic times