The Great Depression Hoover vs. Roosevelt

By: Alex CisnerosMrs. McEmoyl

P.6

Hawley Smoot Tariff Installment Plan Stock Market Speculation Over Production Unequal Distribution of Wealth Dust Bowl

Causes

Damaged American sales abroad because

imports now cost much more. Increased taxes. Other foreigners started doing the same,

increased taxes on U.S. products.

Hawley Smoot Tariff

The Installment Plan was a source in which

Americans would use credit plans to purchase such consumer goods like vacuum cleaners, washing machines, radios, and other home appliances.

Many people who bought high-cost items reached a point where they were not able to pay off their debts because many banks failed to have people’s money due to stock values collapsing therefore the consumers had no money to back up the items.

Installment Plan

For a while things were good in the U.S. for the

moment because the increase of companies was causing growth to the economy with technological inventions being discovered.

Oct. 24, ‘’Black Thursday,’’ was when The New York Stock Exchange plummeted, leading to The Great Depression of the 1930s

Oct. 29, of 1929 ‘’Black Tuesday,’’ 50,000,000,000 were vanished leaving many people broke.

Stock Market Speculation

businesses were not cutting back on making

products. Mass production, too many products being

made buy companies and having to sell them cheaper.

There was increased manufacturing and agricultural output, but wages for industrial workers and other laborer, and income for farmers, did not keep pace for the consumers to purchase all that was produced or grown

Over Production

The imbalance of wealth created an

unstable economy during the great 1920's depression.

The currency of wealth was not flowing fairly enough to stimulate the economy.

People ran on banks and banks collapsed, which in turn meant people losing their savings.

Unequal Distribution of Wealth

Dust was everywhere in Kansas, Oklahoma,

Texas, New Mexico and Colorado. Too much of the soil became to dust so crops

didn’t grow. Thousands of farmers lost their farms. was a very deserted place. Many migrants moved to the west for a better

life.

Dust Bowl

Boulder Dam, was designed to jump-start the

economy and add jobs. Federal Home Loan Bank Act, which lowered

mortgage rates for homeowners and allowed farmers to refinance their farm loans and avoid foreclosure.

The New Deal, Helping 6 million people become employed

Reconstruction Finance Corporation, authorizing to provide emergency financing to banks, life insurance companies, railroads and other large businesses.

Hoover’s Ideas

Roosevelt had the goal of getting people back

to work. Getting them fed and sheltered and fixing the

economy. He came up with an idea to have the men and

some women, work on construction projects like building dams, roads and other things.

Roosevelt’s Ideas

Both Hoover and Roosevelt had ideas on

putting an end to The Great Depression. They both wanted people to have jobs and

end the homeless living economy.

Comparing The Ideas

Social Security Act of 1935 The Wagner Act Fair Labor Standards Act Securities Act of 1933 TVA Securities and Exchange Act

Programs America Still Has Today

Sources

http://useconomy.about.com/od/grossdomesticproduct/p/1929_Depression.htm 1/31/13

http://www.thegreatdepressioncauses.com/facts.html 2/2/13

http://www.lewrockwell.com/rothbard/rothbard184.html 2/5/13

http://www.ehow.com/about_4597060_homeless-population-during-great-depression.html 2/4/13