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    The Great Depression: HST 210: The US Experience

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    jaimedalrymple05
    The Great Depression was caused by a combination of factors including the farm crisis, declining demand, poor income distribution, troubles in the housing market, and speculation on the stock market. The stock market crash of October 1929 greatly exacerbated the Depression when stock prices plunged after brokers required investors to pay back loans used to purchase stock. The human costs of the Depression were immense, with unemployment rising to 12.5 million by 1932 and family incomes falling by 40% on average. President Roosevelt launched the New Deal in 1933 to provide relief, reform, and recovery, establishing programs like the CCC, WPA, and Social Security Act to help the economy and unemployed Americans. However, the Depression was not fully overcome, with unemployment remaining high at

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    The Great Depression: HST 210: The US Experience

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    jaimedalrymple05
    72 views8 pages
    The Great Depression was caused by a combination of factors including the farm crisis, declining demand, poor income distribution, troubles in the housing market, and speculation on the stock market. The stock market crash of October 1929 greatly exacerbated the Depression when stock prices plunged after brokers required investors to pay back loans used to purchase stock. The human costs of the Depression were immense, with unemployment rising to 12.5 million by 1932 and family incomes falling by 40% on average. President Roosevelt launched the New Deal in 1933 to provide relief, reform, and recovery, establishing programs like the CCC, WPA, and Social Security Act to help the economy and unemployed Americans. However, the Depression was not fully overcome, with unemployment remaining high at

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    The Great Depression was caused by a combination of factors including the farm crisis, declining demand, poor income distribution, troubles in the housing market, and speculation on the stock market. The stock market crash of October 1929 greatly exacerbated the Depression when stock prices plunged after brokers required investors to pay back loans used to purchase stock. The human costs of the Depression were immense, with unemployment rising to 12.5 million by 1932 and family incomes falling by 40% on average. President Roosevelt launched the New Deal in 1933 to provide relief, reform, and recovery, establishing programs like the CCC, WPA, and Social Security Act to help the economy and unemployed Americans. However, the Depression was not fully overcome, with unemployment remaining high at

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    72 views8 pages

    The Great Depression: HST 210: The US Experience

    Uploaded by

    jaimedalrymple05
    The Great Depression was caused by a combination of factors including the farm crisis, declining demand, poor income distribution, troubles in the housing market, and speculation on the stock market. The stock market crash of October 1929 greatly exacerbated the Depression when stock prices plunged after brokers required investors to pay back loans used to purchase stock. The human costs of the Depression were immense, with unemployment rising to 12.5 million by 1932 and family incomes falling by 40% on average. President Roosevelt launched the New Deal in 1933 to provide relief, reform, and recovery, establishing programs like the CCC, WPA, and Social Security Act to help the economy and unemployed Americans. However, the Depression was not fully overcome, with unemployment remaining high at

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    The Great Depression

    HST 210: The US Experience


    Why the Depression Happened
    1. The Farm Crisis

    2.  Declining Demand

    3.  Poor Distribution of Income

    4.  Housing Market

    5.  Speculation on the Stock Market


    The Market Crashes
    -On October 24, 1929
    -prices fell
    -brokers required investors who had bought stock to put up the money
    to cover their loans
    -investors dumped the stocks
    -stock values plunged
    -on October 29, sellers dumped more than 16 million shares
    The Human Cost
    -it hit both rural and urban areas and white collar families
    -unemployment jumped from 3 million in 1929 to 12.5 million in 1932
    -by 1933 the average family income fell by 40%
    -families tried to cope by "making do"
    -President Hoover declared “nobody is actually starving.  The hobos
    are better fed than they ever have been” - Hoovervilles
    -forced couples to delay marriages
    -drove birthrates down
    -the divorce rate fell
    -desertion, however, soared
    -the poor survived because they knew how to deal with poverty
    -the middle class was the hardest hit
    -they would refuse to ask for charity or even food
    New Deal
    -Roosevelt’s inauguration was on March 4, 1933 when he
    declared “The only thing we have to fear is fear itself” 
    -urged Americans to use the values of hard work cooperation
    and sacrifice that had made the nation great
    -New Deal designed to bring about recovery and reform during
    the Depression
    -Roosevelt spoke in simple terms that appealed to many
    Americans
    New Deal Programs
    Emergency Banking Act 1933- some banks would reopen with gov.
    support and weak banks would be permanently closed down
    -Roosevelt convinced Americans that it was safe to again deposit
    money in banks

    The Agricultural Adjustment Act 1933


    -it was created to stop agricultural overproduction

    Civilian Conservation Corps 1933


    -this was to help ease unemployment among young men ages 18-25

    Tennessee Valley Authority 1933


    -it was designed to build hydroelectric power dams along the
    Tennessee River
    The Second New Deal 1935-1939
    The Works Progress Administration 1935
    -the WPA was the main federal relief agency that addressed
    the needs of the unemployed
    -the agency constructed roads, public buildings, parks, airports,
    and bridges

    The New Deal Culture 1935


    -the WPA also created special projects to make jobs for artists,
    actors, and writers and wanted to redefine the relationship
    between art and the community

    Social Security Act 1935


    -this was a welfare system to aid the elderly, the disabled, and
    the unemployed
    The Legacy of the New Deal
    -the New Deal did create some fundamental changes
    -people now looked to the government to guarantee economic
    stability
    -during the 1930s many Americans received direct government
    assistance from federal programs like Social Security etc
    -the New Deal also laid the foundations of America’s welfare
    state
    -the New Deal failed in one fundamental way: getting people
    back to work
    -by 1939, more than 10 million people were still unemployed
    and the rate was 19%

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