Beneath the Surface- (Taylor G.)
Herbert Hoover won the election for President in 1928 and gave a speech on September 1929. The speech was “We are nearer today to… the abolition [end] of poverty and fear from the lives of men and women then ever before in any land. But in World War 1 the economy helped feed the Allied Powers, but there were problems farmers had to borrow money from the bank to help feed the Allied Powers also. In the 1920s just like farmers, factories were producing more and more goods then they could do and some factories lost customers like the lumber industry because some people switched to new building such as concrete.

The Stock Market (Monika)
The economic good times ended for many many citizens on October 1929. in a store or place where stocks are sold and bought. If a business needs money they sold stocks to people. Or they would share the company to investors called stock holders. But if a company makes money from the stock, stock prices go up. The stock store was in NY, NY. In September 1929 prices began to fall slowly, causing many stock holders to sell their stocks. This caused prices to drop even lower then what they already were. In Oct. a stock market crashed then prices drop causing investors to panic. On Oct. 29 known as Black Tuesday a record of 16 million shares were traded. As the stock market keep falling they lost billions of dollars. Many people lost all of their money. Banker Sidney J. Weinberg said that Black Tuesday was a stunning day and no one knew what it was about. People panicked when they found out their stocks were worthless. The prices went from 48 to 11. They still fell by November and investors lost more then 26-billon dollars. And political leaders expressed little concern they saw it as ups and downs in the economy. Vocabulary- Stock market Places- NY. NY.


Causes of the Depression- (Priya)
The stock market crashing in 1929 was one cause of the Great Depression. The Great Depression was the worst economic hardship in our country’s history. Investors panicked after the crash because they bought their stocks on credit. Credit is borrowed money. They were going to pay back the money they owed the bank when the stock prices rose. If the prices kept rising this was a good system. When the crash happened people owed more money than they could pay. The credit problem also hurt banks. Since the people couldn’t pay back their loans the banks went broke too. Many people hurried to the bank to get their money. The banks didn’t have enough money to give to all the people. Lots of people lost their money (savings). The high tariffs were another economic problem. They were a problem because during the Great Depression many American companies/farmers couldn’t send their good overseas. During 1929 and 1924 world trade dropped 66%.
Hard Times- (Conner)
As the economy worsened, people cut on the spending they made. Because they bought fewer products, many factories closed and others cut back on production. By 1932 factories were making about half of the goods they had made in 1929. With less production, companies needed fewer workers. By 1932 about 25 percent of the workers in the United States were unemployed. In the three years after the crash, an average of 100,000 people lost their jobs every week. Even people who still had jobs had to accept pay cuts. Many people lost their houses and faced poverty and hunger for the first time in their lives. For fewer people, working meant less tax money for local government. To save money, school boards cut teachers’ pay. Some schools even had to shut down. The effects of high tariffs and crop surpluses continued to hurt farmers. Crop prices declined even further. For example, between the years 1929 to 1932, the price of cotton fell from 17 cents to 6 cents a pound. Farmers’ incomes continued to fall. President Hoover took several actions to try to improve the economy. He asked business leaders not to lay off workers or cut wages. He asked local and state governments to create jobs by constructing roads plus public buildings.
Surviving the Depression- (Priya)
The Great Depression changed the life of many people in the US. People graduating from high school and collage couldn’t find jobs. Adults put off marriage and having children. During 1932 there were 250,000 less weddings that 1929. Women and children could find work easier than men because companies paid them less. Lots of women went to work outside the home for the first time. Some children quit school to help their families earn money. People also left home to find work. Langston Hughes said, “Everyone in America was looking for work.” Local governments and charity groups tried to help people in need. Hungry people stood in breadlines for hours waiting for soup and bread. Homeless people built homes out of cardboard. These homes were called shanties. Groups of shanties are called shantytowns. People blamed President Hoover the continuing of the depression. Shantytowns were known as “Hoovervilles.” Pockets turned inside out were called “Hoover Flags.” Newspapers used by homeless people were called “Hoover blankets.”
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The Election of 1932- (Monika)
The people demand more help from the president since the Great Depression. And when the election time came they wanted a change so Herbert Hoover didn’t have a chance. The democrats voted Franklin D. R as a candidate and he made many speeches and said I will do what I can because of the Great Depression and every thing will be back to normal please elect me






Key Terms to Know:

1. unemployment
2. stock market
3. Great Depression
4. credit
5. Herbert Hoover

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