The Great Depression President Herbert Hoover Stock Market

The Great Depression

President Herbert Hoover

Stock Market

Causes of the Great Depression • Surplus of goods (too many products available and not enough buyers) • Wages (how much a worker got paid) didn’t rise as much as prices • Banking system: Federal reserve regulations failed – Banks also invested in the stock market and lost the bank’s money when the market crashed

October 29, 1929 Black Tuesday

What is the immediate effect of Black Tuesday?

What is life like during the Great Depression? • High unemployment: 25% of people lose their jobs • Many people become homeless • Families are in crisis • Banks failed • Farmers’ incomes drop very low

Where could a person or family get aid during the Great Depression?

Where did people live during the Great Depression?

Dust Bowl • The GREAT PLAINS became a barren wasteland dust storms became more frequent. • Dust storms were also called “Black Blizzard” • Caused by over farming the land extreme drought.

President Franklin Delano Roosevelt

The New Deal Alphabet Soup

Social Security Act Money given to people over 65 and the disabled

Civilian Conservation Corps planted trees, built bridges and parks, set up food control

Tennessee Valley Authority Brought electricity to southern states and built schools

Federal Emergency Relief Administration gave relief to needy and unemployed

Public Works Administration built ports, schools and aircraft carriers

Agricultural Adjustment Administration paid farmers not to grow crops

Federal Deposit Insurance Corporation insured the money in banks—you will always be able to get your money out of the bank you put in

Rural Electrification Administration loaned money to bring electricity to rural areas

Fair Labor Standards Act Created minimum wages and maximum hours for all businesses