The Great DepressionThe Great DepressionPart OnePart One

1929-19321929-1932

Words to KnowWords to Know

• Capitol

• Bankrupt

• Public works

• Black Tuesday

• Reconstruction Finance Corporation

• Bonus Army

Three QuestionsThree Questions

• What do I know about President Hoover?

• Why did the stock market crash?

• How did the Great Depression affect our Nation?

• What does all of this have to do with us?

Three Views of the Three Views of the DepressionDepression• The Traditional View• A Second Look• Voices from the past

The Traditional ViewThe Traditional View• The Economy• Start of the Depression• Hard Times• Hoover’s Response• The Bonus Army

The EconomyThe Economy

“We in America are nearer to the final triumph over poverty than ever before in the history of any land”

» Hoover 1928

• Farmers over produced goods= low prices

• Economy slows/people bought less

• Stock market crashes

The Depression StartsThe Depression Starts• Black Tuesday• Causes

– Overproduction– Weak Banking System– Worldwide Crisis

Hard TimesHard Times• Effects

– Unemployment– Suffering

Hoover’s ResponseHoover’s Response• Opposed Government Relief Programs• Favored Private Charities

– Soup Kitchens

• Public Works Programs– Built projects for public use

• RFC (reconstruction finance corporation)

– Loaned money to businesses to help them stay in business

The Bonus ArmyThe Bonus Army• Veterans of WWI

– Bonus to be paid in 1945– 1932 veterans wanted their

money– Camped out in Washington DC

with wives and children

• Rejected by Senate– Battled police/ 4 died– Army called in to remove them

• Used cavalry, tanks, machine guns, tear gas.

• Burned camp to the ground

A Second LookA Second Look

• The views of others shed light on causes of this crisis.

Factors prior to 1932Factors prior to 1932• Business cycle

• Policies of the 1920’s– affected farm prices

• Rise in interest rates

World EconomyWorld Economy

• What others said…

• Smoot-Hawley Tariff

• You tax me…I tax you

• Effects on Employment

Real People Real StoriesReal People Real Stories

• “I was in the 8th grade…My parents lost the farm. Prices were low for products they had to sell, the banks closed and people lost all the money they had in the bank. My parents couldn’t make the payments on the farm, so the person who owned the mortgage, foreclosed. We then moved and rented a farm down the road”

Ruth’s StoryRuth’s Story

Mabel’s MemoriesMabel’s Memories

• Wanderlust?

• Ray and their Model T.

• Oklahoma, Kansas, Colorado, & Montana

• Chicago & California

• Bad tires

Mabel’s MemoriesMabel’s Memories

• Their Model T.– Bad Tires

Back to IowaBack to Iowa

• 12x12 home

• Making the best of what we had.

Images of OthersImages of Others

Images of OthersImages of Others

Images of OthersImages of Others

Images of OthersImages of Others

How have your views How have your views changed?changed?

• What do I know about President Hoover?

• Why did the stock market crash?

• How did the Great Depression affect our Nation?

• What does all of this have to do with What does all of this have to do with us?us?