Download - The 1930’s; The Great Depression
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The 1930’s; The Great
Depression
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I. The 1920’s were a time of prosperity
A. President Hoover: “Good times will continue!”
B. Unions began to decline
II. People were getting rich by investing in the stock market 1. Less government regulation ,
Optimistic atmosphere
2. Buying on margin
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III. Emerging problems A. Buying on credit
B. “Get rich quick” attitudes
C. Too many goods, too little demand
D. Wealth concentrated in too few hands
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E. The stock market crash A. Oct. 24, 1929,
Black Thursday B. Oct. 29, 1929,
Blacker Tuesday
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IV. Problems caused by the crash
A. Widespread panic
B. Suicides C. Bank closings
(weak Federal Reserve System)
D. Domino effect
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V. The depression worsens A. Hoover’s “hands off” approach B. Hawley-Smoot Tariff – strangled
international tradeC. The Dust Bowl
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V. The depression worsens Discussion—Hoover’s hands-off approach – right or wrong? ? ?
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VI. Massive unemployment
A. House foreclosures
B. Creation of Hoovervilles 1.Hoover
blankets 2.Hoover
flags
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VII. Mass migration
A. Riding the rails
B. HitchhikingC. Job rumors
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VIII. Starvation A.Soup kitchens B.Apple sales C. Fear of revolt
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GREAT DEPRESSION, PART 2
The 1930’s; The Great Depression
The New Deal Era
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I. The election of 1932A. Hoover vs. Franklin Delano Roosevelt (FDR)B. Hoover-hated by public!C. FDR promises Americans a “New Deal”
1. “Happy days are here again”2. “The only thing we have to fear is fear
itself” 3. Fireside Chats
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FDR vs. Hoover
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D. FDR dominates the election (472-59)
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II. The New Deal A. Changes the
role of government; more helpful to the public
B.Relief, recovery, and reform
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C. The first 100 days
1. Bank holiday – banks shut down 4 days
2. 21st Amendment
3. NRA; National Recovery Administration
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D. New Deal criticism
1. Too much government involvement
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E. Court Packing scheme*** This would have given FDR the power to add up to 6 more justices to the Supreme Court (from 9).
If he had been able to appoint them, he would always have his way with the Supreme Court!
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III. “Alphabet Soup” programs A. Programs that help alleviate the effects
of the Great Depression B. Aimed at relief, recovery, and reform
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1. WPA; Works Progress Administration – Created public works projects (bridges, roads, parks, etc…)
2. AAA; Agricultural Adjustment Administration – paid farmers $ to grow fewer crops!
3. FDIC; Federal Deposit Insurance Corporation --insured money in banks up to $250,000!!
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4. CCC; Civilian Conservation Corps – young men from 18 to mid 20s join this; work in the wilderness, send money back home
5. TVA; Tennessee Valley Authority – provided dams & electricity to farmers in the Tennessee Valley area
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6. Social Security Act – provided a retirement income to the elderly 65 and older