-"Brother, can you spare a dime" (https://www.youtube.com/watch?v=0I8-CbJYGMA)
In your notebook, summarize the song. (What is it about? Who is talking about?)
-Great Depression Notes
-Responses as President Hoover and President Roosevelt. I can spare a dime! (How do these presidents help Al? How do they want or to help Al?) Write 4 stanzas for each president.
Notes:
1.
Great Depression (1929-1939)
-Speculation! 20s lifestyle= flamboyant. We can have it all.
(“The Great Gatsby”)
Investing, investing, investing and prices go up, up, up.
(When the market is strong, it entices people to invest.)
-Buying on margin: Paying a small portion of the price and
borrowing the rest. (Sometimes 80-90%).
-Black Tuesday- 1929.
People trying to sell their stocks before prices got too
low, so they could make even the smallest amount.
-Banks/businesses put money into market.
-This is
where the main problem occurred. Foolishly invested money.
-Bank runs!
-Many
Americans ran to the banks for what money they had saved. It was not there, but had been lost on the stock market.
By 1933, one in four persons was
unemployed.
-No job=No
money=EVICTED =No home=Shantytowns (cardboard boxes, tin)
2. Presidents
-President
Herbert Hoover
-President
from 1929-1933
-Rugged
individualism: Pulling yourself up by your bootstraps.
-Laissez-Faire:
Hands off approach.
-Trickle
Down theory: Tax cuts to businesses, which hopefully would produce more jobs and spending.
-President Franklin D.
Roosevelt
-President
from 1933-1945.
-“The
fortunate must take care of the less fortunate.”
New
Deal: Relief for those in need,
economic recovery, and financial reform.
-Civilian
Conservation Corps (CCC): Provided work
for men (18-25). Worked in forests/parks. $30 paycheck per month. Silver Creek State Falls was made with help from the CCC.
Listened
to “Brother, can you spare a dime”
Write
a response as one president on how he would spare a dime/how he would help the
American people.
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