The Great Depression A Virtual Field Trip. A Day of Reckoning On Black Tuesday, October 24, 1929,...
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Transcript of The Great Depression A Virtual Field Trip. A Day of Reckoning On Black Tuesday, October 24, 1929,...
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The Great Depression
A Virtual
Field Trip
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A Day of Reckoning
On Black Tuesday, October 24, 1929, the Stock Market collapsed.
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Wall Street Stock-Market Crash Of 1929 The crash
precipitated the Great Depression, the worst economic downturn in the history of the United States.
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A Day of Reckoning In the words
of a gray haired Stock Exchange guard, "They roared like a lot of lions and tigers.
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A Day of Reckoning
They hollered and screamed, they clawed at one another. The trading floor of the New York Stock Exchange was like a bunch of crazy men.
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A Day of Reckoning Every once in a
while, when Radio or Steel or Auburn would take another tumble, you'd see some poor devil collapse and fall to the floor."
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Wall Street Stock-Market Crash Of 1929 The stock
market was in shambles. Many banks couldn't continue to operate. Farmers fell into bankruptcy.
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Outcomes of the Crash The Wall Street
Crash brought the Roaring Twenties to an end and led to a Depression in America.
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The Lowest Point
The Great Depression was probably the lowest point in American economic history.
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Wall Street Stock-Market Crash Of 1929
It had devastating effects on the country.
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The Lowest Point
In fact, it was so bad that most of the world was hurt economically at the time.
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Stocks One of the
reasons this happened was how people had invested in stocks during the 1920s.
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Foolish Investments Many people
used credit to invest, and some companies they invested in were worthless.
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Foolish Investments
When investors started to wise up, lots of people sold stock quickly, the prices went down fast, and almost everybody lost money.
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1930s
The 1930s were times of great depression resulting in sweeping changes.
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Wall Street Stock-Market Crash Of 1929 A quarter of
the working force, or 13 million people, were unemployed in 1932, and this was only the beginning.
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Out of Business! Many
companies went out of business, and by 1933, one out of every four people in America had lost his or her job.
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A Way Out
Financial institutions collapsed.
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Starving People Some people
starved trying to find work, while others did all they could to just hang on a little longer. Some could only find food in soup lines.
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New Deal When Franklin D.
Roosevelt accepted the Democratic nomination for president of the United States in 1932, he pledged to create "...a new deal for the American people."
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New Deal The New Deal
became the term that described all of Roosevelt's later efforts to help the tens of millions of people.
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The New Deal developed government programs to help the needy.
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A Way Out
It wasn't until World War II started that the U.S. and world economies straightened out.