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Covers the origins, programs created and results of the Great DepressionTRANSCRIPT
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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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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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