202 Chapter 24:

1933-1939


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Boom conditions in the 1920s


The Florida land boom
  • Warm climate made it an attractive place for vacations and retirement
  • Land values rose
  • Two hurricanes devastated the Miami area in 1926,
  • Florida property prices collapse
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Stock market
  • Investment trusts and buying on margin
  • Respectable national figures encouraged participation.
  • The Wall Street crash of 1929 ended the fantasy.
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American enters an economic depression

  • Economists debate its causes.
  • American overproduction.
  • Unequal distribution of income.
  • American tariff policy,
  • International financial instability

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The Depression led to mass unemployment and underemployment.
  • Individuals more often blamed themselves
  • migratory workers and hobo communities








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The Depression perpetuated itself.
Drought conditions
  • Over-farming
  • "Okies"




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President Hoover was forced to take the blame for the Depression.

Until then, his life had been an uninterrupted line of successes.

  • mining engineer.

  • evacuation of Americans

  • famine relief in Belgium

  • secretary of commerce








  • Hoover and self-help and economic independence

  • Bonus Marchers,

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  • “Hoovervilles”,

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Anti-Depression measures


  • Public works projects,

  • Direct government-backed participation


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Public Works Administraion











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Petersburg Post Office. Painted in 1938 by John Winters










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Franklin Roosevelt criticizes Hoover



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