The Great Depression, 1927 1933

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CHAPTER 24

• The Great Depression, 1927 - 1933

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I. The Election of 1928

• Herbert Hoover campaigns as self-made man
• Alfred Smith loses, mostly because of his
  Catholicism and anti-Prohibition stance
  
• Hoover wins landslide victory, in part due to
  prosperity of country

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Election of 1928
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II. The Stock Market Crash of 1929

• Crash of October 1929 shocks Americans and
  creates financial crisis
  
• Crash has several causes, including margin
  trading and lack of government control
  
• More Americans have been investing, often without
  knowledge, and many are hurt

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III. The Great Depression

• Problems include unequal distribution of wealth,
  poor agriculture, and European loans
  
• With no government programs in place, Congress
  attempts a few things but has little success
  
• Depression becomes worldwide

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IV. Hoovers Programs to Fight the Depression

• Unemployed face discrimination and farmers become
  desperate
  
• Homelessness and dissatisfaction with government
  increase
  
• Movies and music offer small amount of comfort

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Mexican Population in the United States, 1930
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V. A Darkening World

• League of Nations appears helpless when Japan
  invades Manchuria
  
• Americans seem not to notice as Hitler and
  Mussolini become more menacing in Europe

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Japanese Invasion of Manchuria
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VI. A Political Opportunity for the Democrats

• Democrats see their chance as economy slides, and
  Franklin D. Roosevelt becomes their presidential
  candidate
  
• FDR pledges new deal for Americans, and
  Hoovers chances dim further after the Bonus
  March
  
• FDR defeats Hoover, but America looks forward to
  inauguration day with little sense of rejoicing

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Election of 1932
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