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THE CAUSES OF THE GREAT DEPRESSION

THE RESULTS OF THE GREAT DEPRESSION

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FDR’s talks to America News Reels Documentaries Interviews Others…

To watch these movies you must have access to you tube, if not come and see me

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Dorothea Lang's Famed Photo of a California Migrant Mother

The Grapes of Wrath (John Ford, 1940) "I'll be there“

The Great Depression (Remember) The Face of the Great Depression

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Youth Jobs Program During Great Depression

The 1929 Stock Market Crash news footage

Dust Bowl Narratives

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1929 The stock market crash Bonus March on Washington, DC: 1932 The Great Depression-facts

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Movies

Discussing the Great Depression(wall street journal)

The Great Dust Storms-interview Memere Interview Part 1

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FDR Fireside chat: the banking crisis #1 1933/3/12 FDR Fireside Chat #2, Better Wage Promises 1933/5/8 FDR Economic Recovery Plan, Fireside Chat #4 1933/10/2

3 FDR Fireside Chat #5, Report On Recovery 1934/6/27 FDR Sees Fear Vanishing, Fireside Chat #7 1935/4/29

Day of Infamy speech

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BankingWorkersFarming

Working standardsHousing

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Emergency Banking ActFederal Deposit Insurance Corporation

FIDICU.S. Securities and Exchange Commission

SECNational Industrial Recovery Act

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Workers Program Association WPA

Civilian Conservation Corps CCC

Civil Works Program CWP

National Recovery Administration NRA

Social Security Act SSA

Fair Labor Standards ActMain menu

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Agricultural Adjustment Act AAA

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Federal Housing Administration FHA

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March 9, 1933 Closed down all failing

banks and reorganized them for reopen

Within 300 days 5,000 banks reopened – roughly 2/3 of the U.S. banks

Produced Glass-Steagall Act of 1933 (FIDIC)

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Banking

Created by the Glass-Steagall Act of 1933

Protects peoples deposits in banks

A response to the closing of thousands of banks and people loosing all their deposits

Restored confidence in the banking system

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Banking

Section 4 of the Securities Exchange act of 1934

regulates secondary trading between individuals and companies which are often unrelated to the original issuers of securities

The goal is to increase public trust in the capital markets by requiring uniform disclosure of information about public securities offerings

1939-1940 SEC :Edward C. Eicher (seated - left); Jerome N. Frank (seated - center); Robert E. Healy (standing - left); Leon Henderson (seated - right); George C. Mathews (standing - right)

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Banking

Enacted in 1935 by FDR Helped people retire in

order to open jobs for younger men

Made to prevent elderly poverty, unemployment, and widows with children

First program to protect elderly

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Workers

March 21, 1933- workers relief program

Get young men out of cities and into the country to work

Make jobs for men Worked in agriculture, on

highways, in national parks

Ended in 1942 due to WWII

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Workers

Emergency Relief Appropriation Act of 1935 - April 8, 1935

Largest employment program in the New Deal at its peak employing 8 million people

The program built many public buildings, projects and roads and operated large arts, drama, media and literacy projects. It fed children and redistributed food, clothing and housing.

Ended in 1943 due to WWII

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Workers

November 8, 1933 Men worked on:

construction jobs mainly improving or

constructing buildings and bridges

It hired 4, 000,000 people and paid them high wages

Shut down in 1934 due to its high operation cost of 200 million dollars a month

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Workers

Created by the National Industrial Recovery Act- June 16, 1933

Industries could make “codes of fair competition” setting minimum wages maximum weekly hours collectively set minimum prices

on products If businesses did not have

the blue eagle in their windows or on their products they were often boycottedMain me

nuWorkers

June 16, 1933 Allowed the President

to: regulate banks Stimulate the United

States economy Created the

National Recovery Administration

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Banking

June 25, 1938 Established a minimum

wage 40 cents and hour

Established time and a half for over 40 hours of work

Prohibited child labor

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Workers

May 12, 1933 It paid farmers (subsidies) to

reduce their crop production surplus

Helped raise the value of their crops giving farmers more stability

The Administration monitored the distribution of subsidies to farmers

Considered first U.S. Farm BillMain menu

Farming

National Housing Act of 1934

Goals to improve housing standards

and conditions to provide an adequate home

financing system through insurance of mortgage loans

to stabilize the mortgage market In response to

thousands of foreclosures due to the failing bank system, causing the housing market to plummet

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Housing

AgricultureSpeculation

Federal ReserveMismanagement

Myths

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The New Deal World War II

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The Farming industry had been lagging for most of the 1920s

Kept afloat mostly through massive government subsides

Not enough demand to keep pace with supply

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CausesMainMenu

Despite government backing and money, agriculture still not doing that well

Many farms went under in the 1920s

The depression in agriculture not fully realized by wall street

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Causes

Since the economy was slowing down and Wall street did not reflect that a large speculative bubble formed

Companies and assets were valued at much more than they were worth

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Causes

Did not act very quickly to moderate interest rates

Moderation of rates is seen as a good way to curb inflation

Federal Reserve board largely inactive or simply not active enough

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Causes

Banking system a total mess in the United States in the 1920s

Mostly a large collection of small banks scattered around everywhere

Very little centralized banking structure like is in place today

This system allowed for many more banks to fail than probably should have

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Causes

The Great Depression was not caused by the stock market crash in 1929. In fact after the crash, the market actually rebounded for a number of months before going down again.

The crash may have been a component of the depression but did not cause it. Agricultural affairs and polices, gross speculation, the Federal Reserve system, and poor management of banks caused it.

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Causes

Elected to the Presidency in 1932 FDR pushed through a number of pieces of legislation.

These were meant to stave off any more immediate economic decline and start to build economic development.

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Results

Up until the Second World War, a large amount of legislation was passed creating numerous federal programs aimed at providing economic relief.

Not to say however that the President did not have his problems with Congress.

Reductions to the deal were ground out through partisan politics with the elections of 1938.

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Results

Contrary to popular belief, it was the Second World War that ended the depression in the United States

Huge amounts of production required huge amounts of people

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At the end of the Depression decade 1 in 7 people were still unemployed.

That is an employment rate that exceeds 14%.

Effects of New Deal on the Depression are debatable however the effects of the Second World War are not.

United States emerges from the war not economically beaten or exhausted like Germany and Britain but the world’s sole economic superpower.Main

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http://www.sechistorical.org/collection/photos/1920_0101_commodities.jpg http://upload.wikimedia.org/wikipedia/commons http://www.ssa.gov/history/pics/fdrvalid.jpg http://www.fdrlibrary.marist.edu/images/photodb/27-0809a.gif http://www.wikipedia.org/ http://memory.loc.gov/learn/educators/workshop/greatdepression/

GD_PhotoAnalysis.pdf http://newdeal.feri.org/images/y68.jpg http://sporkinthedrawer.typepad.com/photos/uncategorized/2007/04/25/

childlabor.jpg Freedom From Fear by David Kennedy The Forgotten Man: A New History of the Great Depression by Amity Shales The Great Crash of 1929 by John Kenneth Galbraith

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