By Bobby Gagnon and Sarah Bibbey

The American Journey: The Great Depression

The Great Depression was a worldwide business and economic slump that lasted through the 1930’s.

These problems came out in the open in 1929 when the nation’s economy crumbled.

Crash in Stock Market, Bank Failures, Reduction in Purchasing Across the Board, and Drought Conditions were the cause of the Great Depression.

What it was?

It lasted 1929 to 1939.President Herbert Hoover was elected in

1928, 2 years after the election, the Great Depression started.

When the Great Depression started, Wall Street broke down.

When was it?

The economic output dropped 43% in three years.

In 1932, unemployment rate reaches 25%.In 1927-1929, stock prices rose dramatically.

The Years and Unemployment

The Years Unemployment Rates

1923-1930 3.3%-8.9%

1931-1932 15.9%-23.6%

1933-1934 24.9%-21.7%

1935-1936 20.1%-17%

1937-1938 14.3%-19.0%

1939-1940 17.2%-14.6%

1941-1942 9.9%-4.7%

An environmental disaster through western Kansas, Oklahoma, Northern Texas, Eastern Colorado, and New Mexico.

It hit during the Great Depression in the 1930’s.

It was caused by clearing land, farming and droughts.

After The Dust Bowl, farmers went bankrupt.

The Dust Bowl

Desperation drove a number of women into the workforce.

The women worked harder at home to make ends meet.

Women stopped buying food, clothes and started making it themselves.

Women at Work

These minorities included African Americans, Native Americans, and Hispanic Americans.

These groups were already on the lower rungs of the American ladder.

More than half of the minorities had no job and lived at the poverty level.

Minorities

Tennessee Valley Authority (TVA) built dams to provide cheap electric power to seven southern states; set up schools and health centers.

Social Security Act (SSA) set up system of pensions for the elderly, unemployed, and people with disabilities.

Federal Deposit Insurance Corporation (FDIC) insured savings account in banks approved by the government.

Franklin D. Roosevelt's New Deal

In early days, FDR counted on big businesses to support his New Deal.

In general, the business world opposed The New Deal.

Business leaders accused Roosevelt of spending too much government money and trying to destroy free enterprise.

The Effects of Roosevelt’s New Deal

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Video

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Sources

Questions or Comments?