Great Depression

Great Depression

GREAT DEPRESSION Unit 5 Great Depression and New Deal Scale 4 SWBAT: - Make in-depth inferences and apply learning to new concepts - Justify US government responses to the GD and compare to recent actions 3

SWBAT: - Perform complex skills: - Evaluate the causes of the FD - Compare the policies of Republican pres. In 1920s with FDR - Analyze the goals of New Deal programs and evaluate their impact - Compare and contrast the proponents and opponents of the New Deal - Analyze the ESP consequences of the 1930s 2

SWBAT: - Recognize or recall specific terms: - Alphabet soup, bank holiday, Black Tuesday, buying on margin, court-packing, dust bowl, Hoovervilles, social security - Perform basic skills: - Identify the major New Deal agencies - Recognize the cause and effect relationship of economic trends - Examine the human experience during the GD 1 With help, I know some of 2 and 3

0 Even with help, I am unable to understand CAUSES Overproduction and underconsumption Too many goods being produced, not enough being bought Unsold inventory meant businesses had to lower wages and fire workers High tariffs

Restricted international trade Foreign countries imposed their own tariffs to retaliate CAUSES Stock market speculation buying stocks to sell later at a higher price Government didnt regulate this during the 1920s Investments were often VERY risky Buying stocks on margin

paying 10% down, then borrowing the other 90% Sold the stock at a high price in order to pay off the loan Sopeople didnt really have the money they were spending CAUSES Black Tuesday Stock market crash of Oct. 1929 Everyone tried to sell

their stocks at the same time this meant no one was buying stocks Prices kept dropping and dropping In just three weeks, prices went down by half $30 billion just disappeared as much as the US spent during

all of WWI!! CAUSES Stock market crash set off a chain reaction Stocks raised funds for businesses, so businesses had fewer funds 26,000 businesses failed in 1930 alone People who lost money in the crash couldnt pay back their loans Without the money from their loans, banks failed When banks failed, people lost all of the money in those banks, some even lost their entire life savings

Then prices fell for goods, manufacturers werent making enough money because prices were so low, more banks failed, unemployment rose It became a vicious cycle heading downward WORLDWIDE DEPRESSION American banks and investors had lots of money overseas meant to help Europe rebuild after WWI Now, loans to Europe stopped Europe cant repay its loans or loan money to US to help Germany couldnt pay its reparations

France and GB couldnt pay off debts to US without reparations Depression spreads across the globe Tens of thousands of businesses failed million farmers lost their farms banks closed More than 10 million jobs were lost but unlike today there was no safety net No unemployment relief No retirement benefits No bank deposit insurance

Even charities were too overwhelmed to help PEOPLE DURING THE DEPRESSION Many went hungry Children suffered from malnutrition Over a million unemployed men became hoboes riding trains Shantytowns of homeless people appeared everywhere outside cities Millions depended on soup kitchens and charities for daily survival

Minorities were especially hard hit 0 DUST BOWL On the Great Plains, farmers had removed all the grasses and plants that had protected the soil Droughts in 1930s dried out both crops and soil, turning it to dust With the plants not there to hold it down, strong winds blew the dust everywhere Essentially blizzards of dust

Many farmers had to abandon their farms and move to California, where they were resented and distrusted Out of the Dust reading People and businesses borrow less from banks. People buy fewer

goods and services. Businesses sell fewer goods and services because people have less to spend. Prices decline. Business Revenues decline.

Businesses are able to buy fewer supplies and equipment. Businesses are unable to employ as many workers, they must pay workers less or a combination of both. Workers who are

paid less or lose their jobs may buy fewer goods and services and may be unable to repay bank loans. More banks fail, so the economy's supply of money and credit shrinks. This causes a

decline in business revenues, which leads to more unemployment and/ or decreases in wages. 1/5 Create a mind map of the causes of the Great Depression Include at least ten

bubbles Include at least four pictures 2/6 Create a flow chart showing the chain of events that led to the Great Depression Include at least ten causes in your chain Include at least four pictures BELLRINGER 1/11 Turn in mind maps if you havent already

Define the following in your own words on a notecard: 1. Buying on margin 2. Overproduction 3. Underconsumption 4. Black Tuesday 5. Dust Bowl BELLRINGER 1/12 (15 MIN) Turn in flow charts if you havent already 1. Create five true/false questions from the notes last class. 2. Define buying on margin in your own words.

3. List two causes of the Dust Bowl. WHAT DID HOOVER DO? President Hoover (Republican) does nothing Laissez faire capitalism means they should just let the economy fix itself No government interference But insteadeconomy continued to get worse and

worse WHAT DID HOOVER DO? Wanted to avoid government involvement Encouraged voluntary business programs Asks them not to fire people doesnt really work People began to resent

Hoover for his inaction Nicknamed shantytowns Hoovervilles Protests began 40,000 veterans and their families even protested in DC in 1932 and Hoover broke it up using the army ELECTION OF 1932 Not surprisingly.Republicans do

not get reelected President Franklin D. Roosevelt wins --- a Democrat Wins promising a NEW DEAL FDR New idea federal govt is responsible for helping the economy and protecting citizens against financial distress In a wheelchair after being struck with polio Surrounded himself with experts and advisors

Optimistic and confident Happy days are here again the only thing we have to fear is fear itself wanted to make the public feel more confident and safe When people are confident and safetheyre more willing to spend money When people spend money, the economy does well! Fireside chats radio broadcasts in which he spoke to the public a bout his policies

I never saw himbut I knew him. Can you have forgotten how, with his voice, he came into our house, the President of these United States, calling us friends..." Carl Carmer, April 14, 1945 (quoted on Museum of Broadcast

Communications website, Flashback : The 70th Anniversary of FDR's Fireside Chats linked from EDSITEment-reviewed 1/5: FIRESIDE CHATS FDR attempted to convince the American Public that the Government was working to solve the problems. http://www.presidency.ucsb.edu/ws/index.php?pid=14540 Read along as we listen to FDR himself speak.

After listening to the speech, work together to determine the main points that FDR is making. Answer the following questions: 1. What are the key elements of the bank holiday he has announced? 2. Name one specific example of how he explains the banking system. 3. Name two specific examples of simple, yet powerful imagery and language that he employs. 4. Why was this speech so effective in 1933? Then read the letters that American citizens wrote in

response to this speech and answer the questions below each letter. 2/6: FIRESIDE CHATS FDR attempted to convince the American Public that the Government was working to solve the problems. http://www.presidency.ucsb.edu/ws/index.php?pid=14540 Read along as we listen to FDR himself speak. After listening to the speech, work together to determine the main points that FDR is making. Answer the following questions: 1. What are the key elements of the bank holiday he has announced? 2. Name two specific examples of how he explains the banking system.

3. Name two specific examples of simple, yet powerful imagery and language that he employs. 4. Is his speech effective or not? Why? 5. Why was this speech so effective in 1933? Write a fireside chat of your own by selecting one of the economic problems facing America today, and write about: What is the Problem? How do you solve it? Why choose that problem to solve? Now put that into a fireside chat format (explain it to the American public).

BELLRINGER 1/14 Turn in your fireside chat if you havent already 1. Create a Venn Diagram comparing the policies of Presidents Hoover and Franklin Roosevelt during the Great Depression 2. In a five sentence paragraph, justify why FDRs policies were more

effective than Hoovers. 3. Test Mon. Jan. 25 t h FIRST NEW DEAL (1933-1935) Relief, Recovery, Reform First new deal aimed at relief and recovery First business Bank Holiday Closed all banks

for inspection of records Encouraged public to trust banks again ALPHABET SOUP The New Deal Agencies: FDIC Bank insurance SEC Stock market watchdog CCC environmental

make-work NRA government planning of the economy: wages, working conditions, etc. AAA raise farm prices TVA rural electrification SSA Social Security (more to come) SECOND NEW DEAL Some programs from the First New Deal struck down

by Conservatives on Supreme Court Farmers are alienated by the A A A Businessmen dont like the New Deal In Second New Deal, FDR focuses to more sweeping, intense reform WPA builds schools, roads, etc. SSA Founds social security Wagner Act support unions; legalized closed shops. CER Alphabet Soup Worksheet pg 479

Alphabet Soup flashcards and matching game BELLRINGER 1/15 Take out your alphabet soup worksheets Match the below organizations with the correct descriptions 1. 2. 3. 4.

5. 6. 7. 8. FDIC WPA SEC C CC AAA NRA TVA

SS A Blocks 1 and 5 Great Depression Test Friday 22 n d Blocks 2 and 6 Monday 25 t h a. b. c. d. e. f.

Stock market watchdog Built roads, bridges, etc. Created social security Raised farm prices Bank insurance Controlled wages and regulated business g. Brought electricity to rural areas h. Tried to improve the environment

BELLRINGER 1/19 Take out your alphabet soup flashcards and worksheet Find a partner Blocks 1 and 5 Test Fri. 22 n d Blocks 2 and 6 Test Mon. 25 t h REACTION Gradual improvement FDR reelected by a landslide in 1936 Butconservatives

criticized him Some believed he went too far Other believed he didnt go far enough COURT-PACKING Greatest threat to New Deal = Supreme Court Began striking down programs of the New Deal SoRoosevelt proposed that the President appoint a new Justice to the court for every member that does

not retire when they turn 70 It would have let Roosevelt appoint SIX new Justices Widely condemned because it would have given FDR way too much power Senate refused to pass the bill butthe Supreme Court upheld most of the other New Deal programs afterwards NEW DEAL = CURE FOR THE ECONOMY? Yes, initial temporary economic improvement

- too much govt spending 1937 the economy collapsed again - Industry production fell - Employment levels dropped - Increased national debt (33 $21 $43 billion by 40)

* Nation entered a recessionperiod of slow business activity. END OF THE NEW DEAL Court-packing plan alienated a lot of people Never actually ended the Great Depression, just improved conditions a little bit US wont fully recover until WWII POPULAR CULTURE John Steinbeck Grapes of Wrath Wrote about a family who lose their farm because of the

Dust Bowl and are forced to move to California where they cant find work Meant to depict the suffering of the Depression Dorothea Lange photographer who took pictures of poverty during the Depression Migrant Mother talkies movies with sound People went to the movies to escape the Depression Gone With the Wind The Wizard of Oz

Comic strips BROTHER CAN YOU SPARE A DIME? BING CROSBY https://www.youtube.com/watch?v=eih67rlGNhU Question 1) What is the mood of the song? (Does the song sound mostly happy, sad, angry, frustrated,

or some other emotion?) 2) What did the singer do before the depression, specifically? How does the singer feel now? 3) How did he

survive during the depression? 4) Answer Evidence (lines in song to back up your answer) CFA BELLRINGER 1/21 ON A SHEET OF

PAPER (NOT AN INDEX CARD) 1. List two causes of the Great Depression. 2. Define buying on margin IN YOUR OWN WORDS. 3. Name the two presidents in power during the Depression. 4. Describe both of these presidents policies during the Depression. 5. What was the slogan for the New Deal? 6. Define court-packing IN YOUR OWN WORDS. 7. ONE PARAGRAPH Was the New Deal a success or failure? Why? Use SPECIFIC examples.

GATEWAY VOCAB Economic boom Bull market Buying on margin Speculation boom Black Tuesday Smoot-Hawley Tariff Herbert Hoover Hoovervilles Great Depression Bonus Expeditionary Force Gross National Product

Dust Bowl Franklin D. Roosevelt Fireside chats New Deal Relief, Recovery, Reform Bank holiday National Recovery Act National Recovery Administration Agricultural Ajustment Act Civilian Conservation Corps

Works Progress Administration Federal Deposit Insurance Corporation Social Security Tennessee Valley Authority National Labor Relations Act

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