We investigate a single-pixel camera (SPC) that relies on non-mechanical scanning with a terahertz (THz) spatial light modulator (SLM) and Compressed Sensing (CS) for image generation. The camera is based on a 350 GHz multiplier source and a Golay cell detector. The SLM consists of a Germanium disc, which is illuminated by a halogen lamp. The light of the lamp is transmitted through a thin-film transistor (TFT) liquid crystal display (LCD). This enables the generation of light patterns on the Germanium disc, which in turn produce reflecting patterns for THz radiation. Using up to 1000 different patterns the pseudo-inverse reconstruction algorithm and the CS algorithm CoSaMP are evaluated with respect to image quality. It is shown that CS allows a reduction of the necessary measurements by a factor of three without compromising the image quality.