Monday- Watch WWII video
Tuesday- Continue WWII video
Wednesday- Bruns' Presentation
Causes of Stock Market Crash
- Overproduction of goods
- Uneven distribution of wealth
- Too much borrowing from banks
- Federal Reserve increased interest rates
- Lack of government regulation- led to pooling
Effects of the Stock Market Crash
- Investors and businesses lose millions of dollars
- Thousands of banks fail- savings are wiped out
- Businesses cut production- lay off workers
- Unemployment rises- people quit spending money
- Great Depression sets in
- Depression spreads to Europe and other parts of the world
Causes of Great Depression
- Overproduction of goods
- Under-consumption of goods by consumers
- Agricultural slump in 20's due to overproduction- had to grow crops to feed soldiers
- High protective tariff policies of the 20's
- Taxes benefiting the rich- rich got richer, poor got poorer- income inequality
- Stock market crash
- Banks closing
Effects of Great Depression
- New Deal programs start- makes the US govt. larger
- Deficit spending starts
- New Deal created many organizations that are still around today- social security, welfare
- Fascist, military and communist dictators come to power throughout the world
Vicious Cycle of the Great Depression
- Companies lose $ so they lay people off
- Unemployment rate goes up and less people buy goods as income has dropped
- Companies profits fall so they have to lay more people off or go out of business
- Cycle repeats itself
Soup kitchens- put together by churches, salvation army, etc.
Hoboes Hopping Freight Trains
- Mostly young high school boys
- Felt like a burden to their families
- Hopped on freight trains
- Went town to town, looking for work
Hoover's Fight Against the Great Depression
- Encouraged people to be patient, stay positive and volunteer to help each other
- Federal Farm Board
- Bought farm surplus, held them in reserve, and sold them when prices went up
- Stablize prices and to promote the sale of agricultural products
- Hoover Moratorium
- One year halt on German war payments to France
- One year halt on war payments from Great Britain and France to the US
- Mexican Repatriation
- Mexican immigrants were encouraged/forced to go back to Mexico
- Revenue Act of 1932
- Increased taxes so US govt. had money
- Hawley-Smoot Tariff
- Raised tarrifs to record levels
Thursday- No school
Friday- No school
Comments