1929-1934. Define 9 terms List 4 ways people expressed their anger with the government List 3 laws that Hoover asked Congress to pass to help the.
Post on 16-Dec-2015
217 Views
Preview:
Transcript
INTRODUCTION: TO DO (34 PTS):
Define 9 terms
List 4 ways people expressed their anger with the government
List 3 laws that Hoover asked Congress to pass to help the people
TERMS
Stock Market: a place where stocks, or shares in businesses are bought and sold
Depression: a time when the economy of a nation falls sharply
Default: to fail to pay a loan when it is due Foreclose: to take the property of
someone who has failed to pay back a loan Bonus: money given in addition to what is
owed
REMEMBER?
The 1920s were portrayed as “carefree” or “exciting” People had barely enough money to pay
bills (installment buying) US economy began to all apart
Almost everyone suffered
How would you feel if all of your money suddenly disappeared?
THE STOCK MARKET CRASH
1920s – fewer than 5% of Americans were wealthy Yearly income? $3000 or less
Long hours for low pay Borrowed money to buy something
that cost a lot *also used installment plans*
People turned to the stock market Hoped to become rich as businesses grew
THE STOCK MARKET CRASH
Hoped to become rich as businesses grew People made money / wanted to make more money Began borrowing money to buy stocks Bought stocks “on margin”
Autumn 1929: stock prices started to drop To save money, people sold their stocks
Selling stocks dropped prices even more
October 29, 1929: prices plunged Stocks became worthless Many people lost their money INSTANTLY Known as Black Tuesday
THE GREAT DEPRESSION
US entered a depression
End of the 1920s: Millions out of work Farmers lost farms Banks went out of
business Used their
customer’s savings to buy stocks
During WWI: farmers sold crops to forces Made $$$ Fewer crops were
needed / prices fell Farmers defaulted on
loans for equipment
Coal and clothing businesses shrank as big business grew larger
Thousands lost their jobs
HARD TIMES: THE VICIOUS CYCLE
1932: economy broken Businesses closed Owners could not pay their employees Jobs were lost Americans could not afford to buy goods
being made Factories made fewer goods Needed fewer workers More jobs were lost
HARD TIMES: CONTINUED
Farmers began to default on payments Banks foreclosed on their property 1932 / in one day: banks foreclosed on ¼ of
ALL FARMS in MISSISSIPPI
Americans lost homes – couldn’t pay bills People stood in line for hours for free food Families sold apples / anything for money Children had to pick through garbage for
scraps
JOBLESS AND HOPELESS
No one had any answers Hoover was asked
to help Felt government
charity was not the answer
Americans should help themselves
This made people angry
Some workers without jobs joined the Communist party.
Some farmers destroyed their crops rather than sell them for unfair prices.
Some farmers joined together to stop banks from taking their property.
WWI veterans marched on Washington, DC, in 1932.
JOBLESS AND HOPELESS
After WWI, Congress voted to give veterans a bonus Depression hit, Veterans asked for the
bonus Congress refused to pay it 15,000 veterans formed the Bonus Army
Went and camped on the nation’s capital Promised to stay until they got their bonus
JOBLESS AND HOPELESS
Hoover feared violence from the Bonus Army US Troops ordered to drive out the
protestors Veterans’ camps attacked
Most people were sickened – soldiers attacking those who had served the country
**Change needed in the government**
TERMS
Drought: A long period of very dry weather
Migrant Worker: A worker who travels from place to place to harvest crops
RECALL:
The Depression affected Americans in different ways Farmers suffered the most
African Americans Immigrants Unskilled workers
Unemployment for African Americans was 2x the national average
Many families had to move to try again somewhere else
CHANGES IN FAMILY LIFE
Families worked together = drew closer More likely? Families torn apart
Men (hopeless) left their wives and children
Teenagers – felt they should support themselves
Left home Children had to work to help families
7 years old Sold newspapers, yard work, ran errands Had to leave school to work or watch younger
children
THE DUST BOWL
Newcomers = not welcome California was suffering also – did not need
new workers Signs at borders
Vegetable / fruit growers – picked crops Poor living - $1.50 a day
People crowded into living situations Moved on when job was done
THE DUST BOWL
WWI – farmers FARMED Falling prices =
farming a difficult way of living
Drought – turned farms into dust
1934: Farmers had to leave their farms Often headed west
to California Became migrant
workers
AFRICAN AMERICANS AND THE GREAT DEPRESSION
African Americans Poorest Americans for a long time Lives became harder
1st workers to be fired Lower pay (owners were trying to save money) Jobs lost to white people 1932: ½ of African Americans had no jobs
AFRICAN AMERICANS AND THE GREAT DEPRESSION
African Americans: In the South Farmers – worked land of white owners
Whole families grew cotton Raised animals and a few crops for themselves
Falling prices = hardships Lived in shacks
No heating or plumbing Lived on corn meal, pork scraps, weeks
Violence escalated Lynching was always a threat
MEXICAN AMERICANS AND THE GREAT DEPRESSION
Mexican Americans: Immigrants moved to large cities / worked
in factories Factory workers = Mexicans worked for lower
pay, taking jobs from Americans Worked on farms
Farmers = Mexicans were taking jobs from Americans
Forced to live in the poorest areas Immigrants still came to settle in US Local authorities ordered thousands of Mexican
immigrants to leave
TO DO
Pg. 358 (1-2)
Pg. 361(1-3)
Exercise 80
Bonus points (complete sentences): How much was a loaf of bread sold for during the Depression?
WHO’S TO BLAME?
Americans blamed Hoover Did not do enough to fight the depression
Hoover had no answers Americans turned to a new leader
PRESIDENT HOOVER’S ACTIONS
Smart businessman / millionaire by 40 WWI – headed bureau that sent troops and
clothing to people in need in Europe Depression Hits: Americans wonder:
How can a smart business man have so few plans? Why can’t Hoover find a way to help Americans?
Hoover made problems a little worse Signed a law that hurt trade with foreign
countries Fewer goods into and out of US Slow trade? Europe defaulted on money owed to
the US
PRESIDENT HOOVER’S ACTIONS
Finally realized how serious the problem was Started public works programs to put people to
work Cut taxes Lent money to banks and other businesses
Plans were too little too late Thought helping people would destroy their
freedom Depend too much on the government Government should not be responsible for
solving the problems of the economy
A NEW PRESIDENT
Hoover Believed Roosevelt’s
plan was a danger to US way of life
Roosevelt gave government too much power
Danger = strong government
Roosevelt Government should
do more to help US during this time
WON election – people felt a change was necessary
Speeches were filled with hope for the US
A NEW PRESIDENT
Roosevelt: Strong government programs to care for
suffering families Called for relief – “no citizen shall starve”
Governments job to end the Depression “Our greatest task is to put people to work”
top related