Unit questions
• What caused the Great Depression?
• How did the United States get out of the Great Depression?
• How would you feel if you lost all of your money and were not able to make any more?
• Could we ever have another Great Depression in our country?
overview
• Stock Market Crash• Run on Banks• Unemployment, Poverty,
and Foreclosure• New Deal Economic
Programs• Lasting Economic
Consequences
Run on banks
• Depositors lost $140 Billion
• About 10,000 banks failed
• Checks were no longer accepted
• Businesses couldn’t get credit for inventory
foreclosure
• Many families lost their homes
• Numerous farmers lost their livelihood
• Scores of people became homeless due to foreclosure
New deal policies• Created jobs for the unemployed
• Reformed stock market practices
• Restored banking system
• Devalued the US dollar by 41%
• Provided affordable housing
Lasting consequences
• Federal Deposit Insurance Corporation (FDIC)
• Social Security Administration (SSA)
• Securities and Exchange Commission (SEC)
• No gold standard
• Minimum wage
• National debt