22:1 Nation’s Sick Economy Bell Ringer: 680. Problems with the economy Wealth gap Struggling...
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Transcript of 22:1 Nation’s Sick Economy Bell Ringer: 680. Problems with the economy Wealth gap Struggling...
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22:1 Nation’s Sick EconomyBell Ringer: 680
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Problems with the economy
• Wealth gap• Struggling industries• Farmers• debt
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Industries in Trouble
• RR, textiles, steel– New transportation
• Mining, lumbering– New energy
• Boom industries weakened• Fewer housing starts
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Farmers Need a Lift• During and after
WWI• Over production• Foreclosures and
bank failures
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Price Supports
• Government intervention• Coolidge veto “Farmers have never made
money. I don’t believe we can do about it.”
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Consumer goods and credit
• Rising prices • Stagnant wages• Uneven
distribution of income
• Credit• Installment Plan
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Uneven distribution of income
• Wealth gap• Poverty level• Access to consumer goods
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1928 Election
• Republican Hoover• Democrat Alfred E. Smith
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Investing in the Stock Market
• Dow Jones Industrial Average• Buying on the margin• speculation
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Black Tuesday
• October 29, 1929• Stock market bubble burst
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Great Depression
• 1929-1940• Economy• Unemployment• Stock market
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Bank Failures
• Withdrawals• Banks
speculated
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Business Failures
• GDP slashed• Unemployment
skyrocketed
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Depression in Europe
• High war debts
• Germany’s reparations
• European trade
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1930 Hawley Smoot Tariff Act
• Protective tariff• Effect on world trade• Effect on unemployment
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Causes of the Great Depression
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22:2 Hardship and Suffering During the Depression
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Depression in the Cities
• Unemployment• Homeless• Shantytowns Hoovervilles• Soup kitchens• Bread lines
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Effects on Minorities
• Unemployment rates• Pay• Racial violence• Southwestern deportation
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Depression in Rural Areas
• Able to grow food• Falling prices + rising debt = foreclosures• Tenant farming
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Dust Bowl 1933-1936
• Causes– Extreme Drought– Over cultivation
• Dust bowl-hardest hit region
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Migrant Mother
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Effect on American Family
• Family unity• Strain
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Men during the depression
• Wandered the streets• Became hoboes• Hobo jungles• Riding the rails• Hobo symbols
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Women During the Depression
• Finding work• Targets of resentment• “silent suffering”
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Children and Teens during the Depression
• Malnutrition• Education• Sweatshops• “Wild Boys”• “Hoover Tourists”• Dangers
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Early Relief
• Direct v. indirect relief• City and charity
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Social and Psychological Effects of the Depression
• Suicide rate• Mental hospitals• Long term effects• charity