Stock Market CrashOctober 1929

[Corel]

United States-Economy

Economic Boom

Lending money

“Bull Market”

More risk takers, buying stock on margin, bought more goodsusing credit

Library of Congress]

United States-Economy

Economic Weaknesses

Farms-Falling Prices

Workers did not receive a wage increase with increase of production

Many people held out of buying goodsThis led to slow demand and overproduction

[Library of Congress]

United States-Economy

October 1929-Brokers asked for loans back

Investors unable to pay

Financial panic, Stock plummeted, industry and wages down

By 1933, ¼ of American workers are unemployed

[UPI-Bettmann/Corbis]

United States-Politically

People blamed the Republican Presidents for the economy

[Franklin D. Roosevelt Library] Social Security Administration]

United States-Politically

FDR and the New Deal Legislation

Federal Government to provide relief for unemployed

In 1931 Franklin D. Roosevelt is elected President of US

[Library of Congress]

United States-Politically

Bills passed Congress:Regulation of Banks and Stock MarketProduction guidelines for Industry

and Agriculture

http://www.americanhistory.abc-clio.com/lessons/topics/topicdisplay.aspx?conceptid=57

[Franklin D. Roosevelt Library]

http://www.yankton.net/images/091499/DustBowl.jpg

[Library of Congress]

http://www.glencoe.com/qe/images/b96/q2582/tak11_obj2_seatt.gif

THE DUST BOWL