Slide 2:
On Black Tuesday October 29, 1929 millions of shares were traded
Slide 3:
In the few weeks billions of dollars disappeared from the American economy
Slide 6:
The following Friday several Wall Street bankers met to find a solution
Their solution was to bring in $200 million of their own money back into the market……
They tried it and it didn’t turn out as they planned….
Slide 7:
Because of the stock market crash the United States goes deeply into The Great Depression
Slide 8:
Many people lost their jobs and had to stand in food lines
Slide 9:
The Depression caused many farmers to lose their farms. At the same time, years of erosion and a drought created the “Dust Bowl” in the Midwest, where no crops could grow. Thousands of these farmers and other unemployed workers traveled to California to find work. Many ended up living as homeless “hobos” or in shantytowns called “Hoovervilles” which was named after President Herbert Hoover.
WHAT HAPPENDED AFTER THE GREAT DEPRESSION :
WHAT HAPPENDED AFTER THE GREAT DEPRESSION
Slide 11:
In 1932, Franklin D. Roosevelt was elected President based on his promises to create Federal Government programs to end the Great Depression. Within 100 days the “New Deal” was signed into law. This created 42 new agencies designed to create jobs, allow unionization, and provide unemployment insurance. Many of these programs, such as Social Security, the SCE , and FDIC (Federal Deposit Insurance Corporation) are still here today, helping to safeguard the economy. However, the extent of the Great Depression was so great that government programs alone could not end it. Unemployment remained in the double-digits until 1941, when the U.S. entered the World War II created defense-related jobs.