Election of 1928

1
Election of 1928
-Herbert Hoover Two cars in every
garage -20s marked a reign of
prosperity -Hoover predicts the end of poverty
2
Stock Market Crash
-Warning Signs Speculation Buying on
Margin -Stock prices were inflated -Oct 1929
prices begin to fall -Oct 29, 1929 Black
Tuesday Great Crash
3
Causes of Depression
-Overproduction of goods -Too much available
credit -less consumption of goods -farm
surplus -high tariffs -no banking
regulations -Hawley-Smoot Tariff,
1930 -everything became a chain reaction
4
Hard Times Hit Home
-Rural areas foreclosure of farms, food supply,
Dust Bowl -Cities shantytowns, soup kitchens,
breadlines -Family Life men on the move,
hardships of women, health of children, -Social
effects more suicide, mental illness, dreams
forsaken, ethics, hardwork
5
Hoovers Resolve
-Rugged Individualism -created govt agency to
help business recover -gave no direct relief
to the people -Two families in every
garage -Hoovervilles -Bonus Army March on
Washington -Radicals begin to develop
6
Election of 1932
-Franklin Roosevelt governor of NY -Pledged a
New Deal for the people Help for the common
man -Democrats wins great majority in
Congress -Hoover remain a lame duck for several
months -Banking system was in a crisis