Causes of The Great Depression
This social studies unit lesson from TESCCC examines the factors that led to the stock market crash and subsequent economic crisis known as The Great Depression.
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1. THE GREAT DEPRESSION Grade 7 Social Studies Unit: 11 Lesson: 01 ©2012, TESCCC
2. CAUSES: THE GREAT DEPRESSION The Stock Market is a place people buy (invest) money in companies in hopes that they will earn more money. October 29, 1929 – known as Black Friday – the stock market “crashed” (stopped working to make people money). Banks failed and people lost all their money. Drought (no rain) conditions in the central U.S. caused agriculture to fail. 2 ©2012, TESCCC
3. EFFECTS: THE GREAT DEPRESSION $26 billion that had been invested in the Stock Market was lost! 25% of people in the U.S. were eventually unemployed . 3 ©2012, TESCCC
4. EFFECTS: THE GREAT DEPRESSION In 1930 Texans did not feel the impact right away. Many Texans had farms or worked on farms, so they could grow food and not go hungry. The oil industry was still flourishing. Construction was still growing. 4 ©2012, TESCCC
5. EFFECTS: THE GREAT DEPRESSION However, in 1931, oil prices fell. As the depression worsened across the United States in 1931 and 1932, Texans eventually had to recognize that the Great Depression was a worldwide economic crisis . 5 ©2012, TESCCC
6. EFFECTS: THE GREAT DEPRESSION Banks closed and people lost all their money, and some families found themselves homeless. Cotton prices dropped to 5 or 6 cents a pound. People lost their farms and their jobs. http://www.erroluys.com/HowAmericansHelpedEachOtherDuringtheGreatDepression. htm TESCCC 2012 6
7. HELP: THE GREAT DEPRESSION Private charities were set up to help the poor. In major cities, soup kitchens and bread lines began to spring up where the homeless and starving could be fed. Source: http://www.history.com/photos/soup-kitchens-and-bread-lines/photo4 TESCCC 2012 7
8. HELP: THE GREAT DEPRESSION Civilian Conservation Corps , (CCC) Government funded work relief program for young men Built recreational parks and worked in forest and soil conservation projects Workers were given food, shelter, and $30 a month. Workers lived in barracks much like a military camp. $25 had to be sent home to their families. TESCCC 2012 8
9. HELP: THE GREAT DEPRESSION Public Works Administration (PWA) Government funded work relief program for unemployed men Hired to build canals, tunnels, bridges, highways, streets, sewage systems, as well as hospitals, schools, and universities Housing was built for people in poverty. 9 ©2012, TESCCC
10. HELP: THE GREAT DEPRESSION Works Progress Administration (WPA) Government agency that hired workers to build public buildings and roads Employed artists, writers, actors and directors in large arts, drama, media, and literacy projects 600,000 people in Texas were helped by the WPA. 10 ©2012, TESCCC
11. THE GREAT DEPRESSION When World War II began, the effects of The Great Depression began to decline. Millions of workers were hired to work in the factories that built war materials such as airplanes, guns, tanks, and ammunition. Due to 17 million people being employed in the war effort, the economy began to improve. 11 ©2012, TESCCC