THE GREAT DEPRESSION Chapter 22 Nations Sick Economy
- Slides: 14
THE GREAT DEPRESSION Chapter 22
Nation’s Sick Economy Hidden troubles: Railroads, textiles, and steel Boom in demand decreased; leaving a large amount of products that could not be sold Struggle of Farmers Increase of living beyond income…CREDIT Uneven distribution of income 1928 Presidential Election
The 1929 Stock Market Crash Large investments in the Stock Market Increase in Speculation Increase in Buying on Margin Confidence in the market began to wavier and people began selling their stocks Oct, 24 th Stock Market took a turn for the worse BLACK TUESDAY: Oct 29 bottom of the market fell out
Major Causes of the Great Depression Old and decaying industrial base A crisis on farms The availability of easy credit An unequal distribution of income
Panic and Financial Collapse Panic spread, people wanted their money from banks and banks didn’t have it 85, 000 businesses went bankrupt Unemployment increased Global Economic Depression: Germany especially hit hard Hawley-Smoot Tariff Act- protected US, hurt the world Devastation from many angles
Hardship and Suffering Shantytowns- little town of shacks Soup Kitchens and Bread Lines Increased hardships for African Americans and Latino Americans Rural communities could grow food but lost farms Dust Bowl
Photos of the Great Depression
Photos of the Great Depression
Photos of the Great Depression
Photos of the Great Depression
Photos of the Great Depression
Photos of the Great Depression
Hoover Struggles with the Depression “Any lack of confidence in the economic future is foolish. ” –President Hoover Cautious Steps Turn in politics in 1930 Hoover take “major” action: Boulder Dam, Federal Home Loan Bank Act Reconstruction Finance Corp
Hoover Struggles with the Depression More turmoil: Bonus Army
