The Great

Depression

The Great

Depression

By: Wonkyung (Alena) Koo & Cindy ChoiBy: Wonkyung (Alena) Koo & Cindy Choi

BackgroundBackground- During the 1920’s, the economy seemed fine. However, there were apparent problems in agriculture and industries. - Due to the wealth, people thought that the economy would improve. - President Hoover also believed that the nation and it’s economy was going well. - Many people bought credit and the interest rates were kept low by the government. - Increasing confidence also led people to purchase more stocks.

- During the 1920’s, the economy seemed fine. However, there were apparent problems in agriculture and industries. - Due to the wealth, people thought that the economy would improve. - President Hoover also believed that the nation and it’s economy was going well. - Many people bought credit and the interest rates were kept low by the government. - Increasing confidence also led people to purchase more stocks.

Causes and Consequences

Causes and Consequences

- Black Thursday- (October 24, 1929)- Started when investors (who were worried about rising interest rates) suddenly sold their shares. - Too much stock on the market caused prices to go down. - Many people who had invested in stocks suddenly lost a large amount of money.

- Black Thursday- (October 24, 1929)- Started when investors (who were worried about rising interest rates) suddenly sold their shares. - Too much stock on the market caused prices to go down. - Many people who had invested in stocks suddenly lost a large amount of money.

The Stock Market Crash

The Stock Market Crash

http://www.youtube.com/watch?v=ulVQ-kH1MAA&feature=PlayList&p=6F492A866126E96A&index=0&playnext=1http://www.youtube.com/watch?v=ulVQ-kH1MAA&feature=PlayList&p=6F492A866126E96A&index=0&playnext=1

- Banks closed and some deposits had not been regulated very efficiently. - Many people lost their savings or large amounts of money (again). - Later, banks became worried about their own safety and were reluctant to create new loans. - People tried not to spend their money, which made situations worse.

- Banks closed and some deposits had not been regulated very efficiently. - Many people lost their savings or large amounts of money (again). - Later, banks became worried about their own safety and were reluctant to create new loans. - People tried not to spend their money, which made situations worse.

Bank Failures Bank Failures - People are unable to pay back loans and banks started to decrease in profits.

- People are unable to pay back loans and banks started to decrease in profits.

Failing Businesses

Failing Businesses

- Businesses started to face serious problems because of the stock market crash and banking failures. - People were reluctant to buy products. - Production became slower, goods decreased, and workers were fired.- More and more businesses started to become bankrupt.

- Businesses started to face serious problems because of the stock market crash and banking failures. - People were reluctant to buy products. - Production became slower, goods decreased, and workers were fired.- More and more businesses started to become bankrupt.

Drought ConditionsDrought Conditions

- Affected farmers and the land greatly. - Plants were damaged and the poor weather conditions affected agriculture negatively. - The fewer amount of crops were not enough to satisfy the nations needs.

- Affected farmers and the land greatly. - Plants were damaged and the poor weather conditions affected agriculture negatively. - The fewer amount of crops were not enough to satisfy the nations needs.

Global Elements and Economic

Situations with Europe

Global Elements and Economic

Situations with Europe

- After WWI, other countries were also facing economic problems. - Most of it was because of the war debts set by Europe. - Trade declined and U.S products could not be bought. - The Smoot-Hawley Tariff (1930) was made to help the American companies. However, it charged high taxes for imports and prevented trade with foreign countries.

- After WWI, other countries were also facing economic problems. - Most of it was because of the war debts set by Europe. - Trade declined and U.S products could not be bought. - The Smoot-Hawley Tariff (1930) was made to help the American companies. However, it charged high taxes for imports and prevented trade with foreign countries.

Decrease in Purchases

Decrease in Purchases

- This prevented the flow of money which decreased the production rate. - Many became jobless and were not able to keep up with their installment plans.

- This prevented the flow of money which decreased the production rate. - Many became jobless and were not able to keep up with their installment plans.

- As the nation panicked and situations became worse, people tried to save money by not purchasing items. - As the nation panicked and situations became worse, people tried to save money by not purchasing items.

Debts and incomesDebts and incomes

- Unequal dealing of incomes was another problem which started and worsened the depression. - The incomes of the wealthiest (1% of the population) increased by 63%. - Whereas, the poorest (93% of the population) decreased by 4%. - People did not have the money to buy various goods. - Therefore, they could not help improve the economy. - Higher wages or better prices for the workers and farmers might have been one way to make situations better. - Too many people also relied on consumer credit. - Debts and higher interest rates led the nation into further chaos.

- Unequal dealing of incomes was another problem which started and worsened the depression. - The incomes of the wealthiest (1% of the population) increased by 63%. - Whereas, the poorest (93% of the population) decreased by 4%. - People did not have the money to buy various goods. - Therefore, they could not help improve the economy. - Higher wages or better prices for the workers and farmers might have been one way to make situations better. - Too many people also relied on consumer credit. - Debts and higher interest rates led the nation into further chaos.

OverviewOverview- The numerous economic problems that negatively affected the U.S eventually led into the great depression. - Chaos and panic started as people started to lose large amounts of their money. - The society continued to worsen as situations became worse. - Products became too expensive and people stopped buying goods. - This led to a decrease in production rates and some companies no longer profited from their business.

- The numerous economic problems that negatively affected the U.S eventually led into the great depression. - Chaos and panic started as people started to lose large amounts of their money. - The society continued to worsen as situations became worse. - Products became too expensive and people stopped buying goods. - This led to a decrease in production rates and some companies no longer profited from their business.

Continued Continued - The world economy and trade failed. - MANY people became unemployed or jobless. - President Hoover failed to view the depression seriously and mainly carried an optimistic view. - The Great Depression reflected the weaknesses in the US economy and affected the nation socially, politically, and economically.

- The world economy and trade failed. - MANY people became unemployed or jobless. - President Hoover failed to view the depression seriously and mainly carried an optimistic view. - The Great Depression reflected the weaknesses in the US economy and affected the nation socially, politically, and economically.

Living Conditions

Living Conditions

- During the Great Depression, more and more people started to move into cities. - People lived in dirty, crowded tenements with no heat. - Homeless rates increased as people could not keep up with their fees. - Some people started to sell apples on the street in order to earn money.-Long lines of people waited in food lines to receive bread or soup.

- During the Great Depression, more and more people started to move into cities. - People lived in dirty, crowded tenements with no heat. - Homeless rates increased as people could not keep up with their fees. - Some people started to sell apples on the street in order to earn money.-Long lines of people waited in food lines to receive bread or soup.

http://www.youtube.com/watch?v=hbEVeKIghCk&feature=relatedhttp://www.youtube.com/watch?v=hbEVeKIghCk&feature=related

ContinuedContinued

- At one point, seventeen thousand people were put out on the streets each month. - Those who had lost their homes, used pieces of wood and cardboard to build shacks for shelter. - Feeling ashamed of not being able to provide for the family, many men also left their homes. - There were increased hardships for African-Americans. For ex., discrimination, losing jobs first, and finding work.

- At one point, seventeen thousand people were put out on the streets each month. - Those who had lost their homes, used pieces of wood and cardboard to build shacks for shelter. - Feeling ashamed of not being able to provide for the family, many men also left their homes. - There were increased hardships for African-Americans. For ex., discrimination, losing jobs first, and finding work.

shanty towns or hoovervillesshanty towns or hoovervilles

The Women The Women

- Employers would hire more women because of their lower incomes. - There were more working women during this time period and the percentage increased. - More competition. - Numbers of African-American women workers decreased since they faced the disadvantages.

- Employers would hire more women because of their lower incomes. - There were more working women during this time period and the percentage increased. - More competition. - Numbers of African-American women workers decreased since they faced the disadvantages.

Popular CulturePopular Culture

- Mixed both Traditional and Modernistic views. - People longed for the simple past however, had hope for the future. - Folk Culture started to grow big. - Because of many worries and fears, people started to turn to heroes or the idea of hope. - Cheaper prices for movie theaters. - Instead of no sound, films now have audible speaking.

- Mixed both Traditional and Modernistic views. - People longed for the simple past however, had hope for the future. - Folk Culture started to grow big. - Because of many worries and fears, people started to turn to heroes or the idea of hope. - Cheaper prices for movie theaters. - Instead of no sound, films now have audible speaking.

ContinuedContinued

- Popular theme of movies were people with guns and strong women. - Disney cartoons were introduced and brought an optimism. - Radios helped bring entertainment into the home. (Stories such as, Little Orphan Annie and Lone Ranger)

- Popular theme of movies were people with guns and strong women. - Disney cartoons were introduced and brought an optimism. - Radios helped bring entertainment into the home. (Stories such as, Little Orphan Annie and Lone Ranger)

And ContinuedAnd Continued- Having the good win when fighting the bad helped reflect a positive attitude. - Affordable comic books and novels helped to take people’s mind off the situation. - Affected American mind and social life greatly during the Depression. - Strong women (Bette Davis, Greta Garbo, Mae West, and Marlene Dietrich) also played a big role by showing that in a difficult world, hardships can be overcome. - Although many stories were about heroes and triumphs, some writers tended to stick to reality.

- Having the good win when fighting the bad helped reflect a positive attitude. - Affordable comic books and novels helped to take people’s mind off the situation. - Affected American mind and social life greatly during the Depression. - Strong women (Bette Davis, Greta Garbo, Mae West, and Marlene Dietrich) also played a big role by showing that in a difficult world, hardships can be overcome. - Although many stories were about heroes and triumphs, some writers tended to stick to reality.

Oh No... Oh No... - People asked the Federal Government for help.- However, Hoover opposed the idea because he feared it would decrease individual work and create a bureaucracy. - Unemployment continues to rise. - Direct guidance could not be given to the Americans since Hoover strongly believed in individualism. - The trust and dependence on the President’s leadership also weakened.

- People asked the Federal Government for help.- However, Hoover opposed the idea because he feared it would decrease individual work and create a bureaucracy. - Unemployment continues to rise. - Direct guidance could not be given to the Americans since Hoover strongly believed in individualism. - The trust and dependence on the President’s leadership also weakened.

ContinuedContinued

- People turned to volunteer work but realized that it’s not enough to boost the economy. - Due to low amounts of money, charities and other organizations were not able to help. - Various approaches are made to improve the economy but not many of them are successful. - Strikes and protests become more apparent on the streets.

- People turned to volunteer work but realized that it’s not enough to boost the economy. - Due to low amounts of money, charities and other organizations were not able to help. - Various approaches are made to improve the economy but not many of them are successful. - Strikes and protests become more apparent on the streets.

Getting better... Getting better... - Laissez-faire (no government intervention) system towards the economy. - Agricultural Marketing Act and Federal Farm Board helped farmers receive loans and buy farming goods. - The Home Loan Bank Act gave the savings banks money, made loan associations, and charged low-interest for insurance companies. - The Reconstruction Finance Corporation, by Congress, also helped get banks and companies back in business.

- Laissez-faire (no government intervention) system towards the economy. - Agricultural Marketing Act and Federal Farm Board helped farmers receive loans and buy farming goods. - The Home Loan Bank Act gave the savings banks money, made loan associations, and charged low-interest for insurance companies. - The Reconstruction Finance Corporation, by Congress, also helped get banks and companies back in business.

AND YES! AND YES!

- After the poor leadership of President Hoover, President Roosevelt is elected and starts to make changes.- He was confident and hopeful, but most importantly very different from Hoover. - A need for fairer distribution of wealth was acknowledged and suggested. - Also promised to solve problems with the “New Deal”. - The New Deal was a group of numerous solutions and actions that were aimed towards improving the nation.

- After the poor leadership of President Hoover, President Roosevelt is elected and starts to make changes.- He was confident and hopeful, but most importantly very different from Hoover. - A need for fairer distribution of wealth was acknowledged and suggested. - Also promised to solve problems with the “New Deal”. - The New Deal was a group of numerous solutions and actions that were aimed towards improving the nation.

Last but not leastLast but not leastTHE THREE R’S would give:

RELIEF to the farmers

REFORM of businesses

and a

RECOVERY to the situation.

THE THREE R’S would give:

RELIEF to the farmers

REFORM of businesses

and a

RECOVERY to the situation.

THANK YOU! :) THANK YOU! :)

http://www.youtube.com/watch?v=DlbHzcH4VJY&feature=relatedhttp://www.youtube.com/watch?v=DlbHzcH4VJY&feature=related

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and the textbook :)