Goal 9; Great Depression.ppt

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2006 Hill Pearsall-Topsail High School

Causes of the Depression

•

Overproduction

–

farmers over expanded during

the war

– Did Coolidge help?

•

Technology

–

increases productivity

•

Unequal wealth

–

Most of the nation’s wealth was

owned by 2% of the people

– 27,500 of the richest people had

more money than 12 million of the

poorest

– Most homes had no electricity or

heat furnace

– Most bought a new set of clothes

once a year

•

Buying on Margin

– get rich quick schemes

–

pay a percentage of a stock’s

cost and borrow the rest…

hoping to make a profit and

pay your debt quickly

•

Easy Credit

–

Installment plan, etc

.

•

Unbalanced foreign trade

–

High tariffs lead to lack of

trade with Europe

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Herbert Hoover (1929-33)

• 1928: Hoover elected

president (Republican)

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•A combination of tennis, volleyball and

medicine ball, Hoover-ball was invented,

developed and perfected by White House

physician Admiral Joel T. Boone to keep

Hoover physically fit.

•Also a time to meet and discuss ideas

with his cabinet

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Black Tuesday: October 29, 1929

• Prices began to fall

• Some banks bought stocks to

stabilize the market

• Margins were being called in and

people couldn’t pay

• The

stock market crashed

• Buyers couldn’t be found and by

November the depression had

begun

• By November, investors lost 30

billion dollars

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Things Get Worse!

• From 1929-33 things get worse

• National income fell from 81 to 41

billion

• 85,000 businesses closed

• 400,000 farms were lost

• 6000 banks failed (1\4 of all banks)

• 9 million dollars in savings was

lost

• At one point up to 12 million out

of work (1\4 of labor force)

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Hoover’s Attempts to end the

Depression

• There was

no direct

relief from Hoover and

the government

• Hoover proposed

voluntary actions to get

out of the depression

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Rugged Individualism

•Hoover’s belief

•Change must come from

within the people…direct

relief would weaken their

self respect

•However, Hoover did

some things to help

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Breadlines

and

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Destroy crops

• Low prices hurt

farmers and many

began to

destroy their

crops to drive up

prices

…..pouring milk

into the street, plowing

under crops, killing

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Farmer Problems

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Some day they'll go down together.

They'll bury them side by side.

To few it'll be grief -

To the law a relief -

but it's death for Bonnie and Clyde.

The officers, even after pumping 167 rounds into the car,

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The Indiana

farmboy who

became the

FBI's first

Public Enemy

Number One.

He began working for

Al Capone in the early

1930s. Nelson's

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Covered

Wagon in

a

Migratory

Carrot

Pullers'

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Making

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Wife and

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Young

Penniless

Oklahoma

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Family Leaving

South Dakota for

the West During

the Great

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Dust

Bowl

I should know to leave them home. They follow me through the

store with these toys I can't afford. "Kids, take them back, you know

better than that."

Dolls that talk, astronauts, T.V. games, airplanes, they don't

understand and how can I explain?

I try and try but I can't save. Pennies, nickels, dollars slip away. I've

tried and tried but I can't save.

My youngest girl has bad fever, sure. All night with alcohol to cool

and rub her down. Ruby, I'm tired, try and get some sleep. I'm

adding doctor's fees to remedies with the cost of three day's work

lost.

I try and try but I can't save. Pennies, nickels, dollars slip away. I've

tried and tried but I can't save. The hole in my pocketbook is

growing.

There's a new wind blowing they say, it's gonna be a cold, cold one.

So brace yourselves my darlings, it won't bring anything much our

way but more dust bowl days.

I played a card in this weeks game. Took the first and the last

letters in three of their names. This lottery's been building up for

weeks. I could be lucky me with the five million prize, tears of

disbelief spilling out of my eyes.

I try and try but I can't save. Pennies, nickels, dollars slip away.

I've tried and tried but I can't save. The hole in my pocketbook is

growing.

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Franklin D Roosevelt

• Served from (1933-45)

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New Deal

• FDR’s plan to get

American out of the

Great Depression

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The community's history dates back to 1933, when

the federal government bought 4,500 acres for

$29,500. About $1 million for the community's

development came from the Subsistence

Homestead Act, designed to develop self-sufficient

communities and ease the burden on overpopulated

cities.

Penderlea's most famous visitor may have been

Eleanor Roosevelt, who came to town on June 11,

1937.

Penderlea residents leased their homes from the

federal government for $60 a year until the 1940s,

when they began buying their houses. Of 300

homes built there when the homestead was formed,

about 100 remain.

A Pender County community designed by the

federal government to be self-sufficient

during the Great Depression is working

together again to preserve its history.

Penderlea was created in the early 1930s

through one of President Franklin

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On June 11, 1935, Eleanor Roosevelt kicked up her heels with the

homesteaders at Penderlea. The First Lady visited Pender County to

check on the progress at one of her husband Franklin’s premier

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Bank Holiday and Encouragement

•FDR ordered a

bank holiday

in

his first days as President

•Close all the banks in America

and evaluate their soundness

(should they stay open)

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Fireside Chats

• FDR speeches over radio to reassure

the American public

• FDR went over the radio

to talk to

the American people to put their

money back into the banks and

assured them it would be safe

• Over the next few weeks, billions of

dollars came back into the banks

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Glass-Stegall Banking Act

• Created the FDIC

• Insured money in

banks

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SEC

•

Securities and Exchange

Commission

•

Created to regulate the

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• The government put

people to work planting

trees, fighting erosion,

clearing trails, etc.

Civil

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Begun during the administration

of President Franklin D.

Roosevelt, the project was

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Works Progress Administration

• Government created jobs to put

Americans to work

• From 1935-41 an average of 2

million jobs a year were filled

building bridges, airports,

schools, washing govt. buildings,

sweeping pigeon droppings,

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May 6, 1937

The cause of the incident that killed 35 of

the 100 passengers and crew members on

board was static electricity

They say that after the ship flew into a

thunderstorm a build up of hydrogen led to

the explosion.

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Parts of the New Deal Still Around

Today

• Social Security

• Tennessee Valley Authority

• Federal Deposit Insurance Corporation

• Wagner Act

• Fair Labor and Standards Act

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Max Baer vs Frankie Campbell

• Campbell had walked to the far side of the ring, turning his back…Baer rushed across the ring and socked Campbell with three stiff rights to the head…The blows dazed Campbell and he was pretty well spent as he made his way back to his corner.

• ‘Something feels as though it broke in my head,’ Campbell told Chief Second Tommy Maloney during the rest interval between the second and third round.”

• Both men scored with lefts and rights in the next two rounds. In the round five Baer caught Campbell with a left hook to the head and Frankie seemed hurt, sagging against the ropes. • Max was taking no chances with the tricky Campbell, who

often faked injury to lure in his opponent, so he kept throwing punches.

• Finally as Campbell slumped to the canvas, Irwin stopped the fight awarding Max a KO. Baer left the ring, fighting his way back to his dressing room through a mob of fans and press.

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• After a shower, as he was dressing he asked how Frankie was doing. He was told that he was still unconscious and had been taken to Mission Emergency Hospital.

• Max went home that night extremely upset. The next morning he learned that Campbell had died during the night.

• Baer rushed to the hospital and as soon as he saw Campbell’s wife and family in the waiting room, he began to sob. “I’m awfully sorry,” he said. Campbell’s widow Ellie replied, “It might even have been you, mightn’t it?”

• Max went home badly shaken, swearing that he would never fight again. As bad as thing were, they were about to get even worse.

• The police came to his house and arrested him on the charge of manslaughter in the death of Frankie Campbell.

• It was not until late in the day that the promoter of the fight, Ancil Hoffman, bailed Max out of jail, using Max’s $10,000 prize money. The case against Baer was very weak. Max didn’t throw any kind of illegal punch. It was up to the referee Toby Irwin, not Max, to stop the bout. Irwin was a respected person in the fight game yet he let the fight continue. Eventually the charges against Baer were dropped.

• In spite of all this, the California Boxing Commission revoked Max’s license to box for one year.

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• Campbell’s neurosurgeon, a Dr. Tilton E. Tillman, stated that “Death

had been caused by a succession of blows to the jaw and not by any

struck on the rear of the head.” During the autopsy it was discovered

that Baer’s punch had separated Campbell’s brain from its connective

tissue inside the skull.

• Decades later Max Baer Jr., Max’s son stated, “My father cried about

what happened to Frankie Campbell. He had nightmares. In reality,

my father was one of the kindest, gentlest men you would ever want to

meet. He treated boxing the way today’s professional wrestlers do

wrestling: part sport, mostly showmanship. He never deliberately hurt

anyone.”

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• The Campbell fight had eliminated the killer instinct from Baer’s personality. He would now often ask a referee to stop a bout before an opponent was seriously hurt. He lost four of his next six fights because he was afraid to go on the offense.

• He started joking around during fights and began to be called the Clown Prince of Boxing. He didn’t want to get angry in the ring. Ever since the death of Frankie Campbell, Baer was afraid of his own strength. This hesitation stayed with him more or less for the rest of his career, costing him several important wins.

• To Max a win was never worth another man’s life.

• Max once told the press, “I never got into a fight outside the ring. I never harmed anyone outside the ring. I love people.”

• Some experts argue that Baer possessed the hardest right hand punch of any champion in ring history.

• When Frankie Campbell’s kids were ready for college, Max quietly paid their tuition. He also boxed in many benefit bouts for Campbell’s family over the years. Just to make sure they were taken care of.

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