stock market crash! - issaquah connect · stock market crash! •the 1920’s were roaring...

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Stock Market CRASH! The 1920’s were ROARING Buying lots of luxury items Buying on credit Risky financial investments- lots of people bought stock with money borrowed from the bank Black Tuesday- October 29, 1929 There was panic and people wanted to sell their stock, but nobody wanted to buy it, so prices plummeted People panic and go to pull money out of the banks, but banks don’t have enough cash https:// www.youtube.com/watch?v=0rKP HKmNJrc

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Page 1: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

Stock Market CRASH!• The 1920’s were ROARING

• Buying lots of luxury items

• Buying on credit

• Risky financial investments- lots of people bought stock with money borrowed from the bank

• Black Tuesday- October 29, 1929• There was panic and people wanted to sell their stock, but nobody wanted to

buy it, so prices plummeted

• People panic and go to pull money out of thebanks, but banks don’t have enough cash

https://www.youtube.com/watch?v=0rKPHKmNJrc

Page 2: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

Great Depression

• Scholars don’t agree on one single cause of the Great Depression

1. Gap between rich and poor

2. Supply was greater than demand• They were making more goods than people were buying

3. Banks and stock market were not supervised by the government

https://www.youtube.com/watch?v=HupNDQwLN08

Page 3: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

Life during the Great Depression

• Banks closed

• Businesses closed

• People lost their jobs

• People lived in Hoovervilles

• Lack of tax money to help people

• Some people starved

• Women gave up jobs

https://www.youtube.com/watch?v=fFu7us6bNSQ

Page 4: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

People Move West

• There was a severe drought in central United States which meant that farmers were not able to grow their crops

• Additional winds led to an intense dust bowl which further hurt farmers (crops and livestock) and made living dangerous

• People needed jobs, so they decided to move West towards Oregon and Washington to try find work, but many only found temporary work because of the Great Depression

https://www.youtube.com/watch?v=guTek7ipD4U

Page 5: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

America Needs a Change

• Many Americans blamed President Herbert Hoover for the Depression and for not being able to pull Americans out of the Depression

• During the election of 1932, Franklin Delano Roosevelt is elected as the president.• He was the only president to be elected 4 times (before they

made the limit to two terms)

Page 6: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

FDR

’s N

ew D

eal

• Roosevelt promised to give the people a “New Deal” that would bring back jobs

• He created programs like the Civilian Conservation Corps and the Works Progress Administration that provided employment

Civilian Conservation Corps• For able-bodied men only• Labor-intensive jobs

• Fought forest fires• Created trails and maintained parks• Planted trees• Worked on fish hatcheries • Built roads

• There was a Native American division• Men had to send home $25 a month to

their families

Works Progress Administration• More job diversity

• Jobs for musicians• Writers• Historians• Artists

• Women could get jobs• King County Projects

• Improved airport• Road construction• Issaquah Fish Hatchery• Fire Station• City Hall construction\• Construction improvements and

school improvements• Housework and child-care• Reading service for elderly and

blind• Public art projectshttps://www.youtube.com

/watch?v=hsw4B1PWZLQ&list=PLCH8uxPXHDPAByDyT0EpmZQm_6jEEMHg1&index=8

Page 7: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

Grand Coulee Dam• Columbia Basin Reclamation Project was approved because of severe

drought and high unemployment

• Grand Coulee Dam construction was part of this project

• It provided more than 12,000 jobs for both skilled and unskilled workers

• The dam would provide irrigation and electricity

• Flood control

• It was a dangerous job, so many died

• People had to leave their homes because of construction

• Native American villages and burial grounds were destroyed

• It destroyed salmon runs https://www.youtube.com/watch?v=IehMVQ0tThI

Page 8: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

Labor Union Conflict

• Many workers felt that the New Deal should help them more than it was doing

• Congress passed the National Labor Relations Act (Wagner Act)• Gave workers the right to unionize and to strike

• More workers join unions because they feel protected

• The American Federation of Labor (AFL) was a major union at the time, but the Congress of Industrial Organizations (CIO) split off and made their own union

• AFL and CIO fought over who would represent which groups of workers. Both wanted workers to join their unions

Page 9: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

Indian Reorganization Act

• John Collier was the head of the Bureau of Indian Affairs and believed that the Dawes Act and the attempt to “Americanize” Native Americans was unfair and wrong

• He helped get the Indian Reorganization Act passed which repealed the Dawes Act and encouraged Native Americans to return to tribal governments and ways of life

Page 10: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

WWII• 1939- United States is emerging from the Great Depression

and recovering

• WWII fully pulled the US out of the Depression

• USA stays out of the war at first while fighting happens in Europe• Hitler wanted to “cleanse” Europe of inferior people, especially Jews• Hitler sent millions of Jews to concentration camps where they were

killed or died

• United States enters the war after the Japanese attack on Pearl Harbor on December 7, 1941

• Allied Powers- Great Britain, France, Soviet Union, United States

• Axis Powers- Germany, Italy, Japan

Page 11: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

Washington’s Economy during WWII

• The United States’ economy grew and thrived during the war because of the war-time jobs that were created

• Washington was a shipping center for many supplies

• Industries in Washington boomed• Aluminum was used to build planes

• Shipbuilding in Washington and the Pacific-Northwest grew

• Boeing hired tons of workers to build war planes

• Hanford Site

Page 12: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

Hanford

• Hanford was chosen as the site for the Manhattan Project research facility because the location war remote which allowed for privacy and kept the public safe from radiation. They could also use power from the Grand Coulee Dam and water from the Columbia River

• They produced plutonium at the facility, which was used to make the atom bomb

• Hanford was a “mystery city” because they wanted to keep the project a secret

• There are still issues with Hanford today because of the radiation and toxic waste

Page 13: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

Japanese-American Relocation

• FDR signed Executive Order 9066 on March 2, 1942

• Ordered all people of Japanese ancestry to relocate to internment camps in the United States

• They did this because they were worried that Japanese Americans were spying or helping the Japanese during the war

• They had to leave their homes, friends, pets, belongings, etc. and many faced harsh circumstances after the war as well

Page 14: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

End of WWII

• President Harry Truman decided to drop the atomic bomb on Hiroshima• 70,000 civilians were killed, but they did not surrender right away

• A few days later, he dropped another bomb on Nagasaki• They decided to surrender, ending the war

Page 15: Stock Market CRASH! - Issaquah Connect · Stock Market CRASH! •The 1920’s were ROARING •Buying lots of luxury items •Buying on credit •Risky financial investments- lots

Social Change

• African-Americans• Increase in African-American population in Seattle• Racial discrimination• Many were homeless or living in less than ideal conditions

• Mexicans• The Bracero Program allowed Mexican men to come to the United States to work on farms• Brought Mexican-Americans to the Northwest• More Latinos, but many face discrimination

• Women• Women had a bigger role because they had participated in helping during WWI and WWII• Women were expected to quit their jobs after the wars to give them back to men though• Women were more motivated to fight for their rights and challenge the traditional roles of

women