During the 1920s, many Americans invested in the stock market but the market crashed on October 29, 1929, known as "Black Tuesday", precipitating the Great Depression. Banks failed as people withdrew their money, factories closed, unemployment rose to 25%, and the depression lasted 10 years. President Franklin Roosevelt introduced the New Deal to provide relief, reform, and recovery from the Depression through programs like the CCC, AAA, and Social Security.
2. During the 1920s people invested
much of their money in the Stock
Market.
People take their money and
invest it in shares of certain
companies.
On October 29, 1929 the Stock
Market had its worst day in
history known as “Black Tuesday”
Tuesday
3. People tried to sell stocks that
nobody wanted.
Banks ran out of money as
people withdrew funds to cover
their losses.
Many Americans were forced
to sell everything they owned.
Factories closed as nobody
bought goods, forcing workers
to be laid off.
4. When the economy suffered
few people had money to
spend.
Factories produced too many
goods (surplus).
Farmers grew more than
people could buy.
There was too much debt.
Banks were poorly managed.
5. Stocks lost 90% of their value.
11,000 banks failed.
Unemployment reached 25%
The depression lasted 10 yrs.
President Franklin Roosevelt
set up a national plan of
recovery, “The New Deal”
6. Cotton prices dropped as
textile factories closed.
Sharecroppers lost their
homes as landowners could
not sell their crops.
Unemployment hit as high
as 70% in some urban areas.
7. U.S. President 1932-1945
Longest serving U. S.
President.
Created “The New Deal”
Persuaded congress to pass
the Social Security Act.
Spent many days at the “Little
White House” in Warm
Springs, GA.
8.
9. 1. Stock Market
2. Great Depression
3. Surplus
4. Subsidy
5. New Deal
6. Labor union
7. Relief
8. strike
10. Created jobs for thousands of
out of work young men.
Work included reforestation,
soil conservation, and
building parks and roads.
Georgia’s first state parks
were built such as Indian
Springs State Park.
11. Created to raise the price of
crops by limiting supply.
Farmers were paid to plant
less cotton in order to drive
up the price.
Landowners benefited from it
but they needed fewer tenant
farmers and sharecroppers.
The AAA worked to improve
soil conservation.
12. Provided loans to states to
improve electrical service to
rural areas.
Before 1935 very few areas in
rural Georgia and the US had
electricity.
Power plants and power lines
were built throughout the U.S.
Georgia led the country in the
number of REA programs.
13. Gave working people a
permanent plan to protect
their wages.
Two parts:
Old Age Retirement benefits
to support people when they
could no longer work.
Unemployment and disability
benefits if injured or loss of
their job.
14. One of Georgia’s most
controversial politicians.
Governor 1933-37, 1941-43
He was a strong governor who fired
those who did not agree with him.
Outspoken critic of Roosevelt and
the New Deal.
Had a reputation as a racist.
15. Eugene Talmadge tried to have University of
Georgia Dean of Education Walter Cocking fired
for supporting racial integration.
UGA’s teachers threatened to quit if Cocking was
fired.
Talmadge used the newspapers to attack Cocking
for his views.
UGA’s reputation was seriously damaged by
Talmadge.
16. Write:
1. What was Social Security created to do?
2. Do people rely too much on it?
3. Should we raise the age when you can collect it?
Please write a good paragraph on this issue.
17. 10Q Review
Match the correct term to the proper statement
CCC REA AAA Black Tuesday Herbert Hoover Surplus
Subsidy Eugene Talmadge New Deal Franklin Roosevelt
1. Helped land owners but hurt farmers.
2. Governor of Georgia during the Depression.
3. Having more of something than you need.
4. The stock market crashed.
5. Young men built roads and parks.
6. President at the time of the stock market crash.
7. A National plan of recovery.
8. Set up a home in Warm Springs Georgia.
9. Brought electricity to rural Americans.
10. A grant of money from the government.
