the great depression and the new deal, 1929-1939
TRANSCRIPT
![Page 1: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/1.jpg)
The Great Depression and the New Deal, 1929-1939
CHAPTER 24
![Page 2: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/2.jpg)
THE GREAT DEPRESSION
AP US History
“Mellon pulled the whistle,Hoover rang the bell,Wall Street gave the signal,And the country went to hell.”
![Page 3: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/3.jpg)
THE NATION’S SICK ECONOMY A NEW DEAL FIGHTS THE DEPRESSION
Main Idea – As the prosperity of the 1920s ended, severe economic problems gripped the nation and led to the Great Depression. After becoming president, Franklin Delano Roosevelt used government programs as part of his New Deal to combat the Depression.
![Page 4: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/4.jpg)
THE BUSINESS CYCLE OF THE 20’S
PROSPERITY
1919 1929 1930 1933
HOOVER
FDR
DEPRESSION
RECESSION
![Page 5: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/5.jpg)
![Page 6: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/6.jpg)
THE WALL STREET CRASH
1929Sept. 24 Sept. 29 Oct. 24 Oct. 29
Stocks 400% in value
Black Tuesday“Sell at Any Price”
Black Thursday“Margin Calls”
![Page 7: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/7.jpg)
Buying on Margin
![Page 8: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/8.jpg)
THE RECESSION GETS WORSE
INCOME
WORKERSLAID OFF
MANUFACTURINGCUT-BACKS
DEMAND (INVENTORIES)
ECONOMICPROBLEMS
![Page 9: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/9.jpg)
German Reichsmark
GLOBAL DEPRESSION
Smoot-Hawley Tariff (1930)• Second highest tariff in US history
1929 1932
Imports $1,334 million $390 million
Exports $2,341 million $784 million
World Trade decline 66% between 1929
and 1943
![Page 10: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/10.jpg)
HOOVER & THE DEPRESSION
Hoover’s Philosophy “Rugged Individualism” Private Charities
YMCA, Salvation Army No Direct Aid to the
Unemployed Some Public Works
Hoover Dam Reconstruction Finance
Corporation Loans to Banks
TRICKLE DOWN ECONOMICS
![Page 11: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/11.jpg)
REACTION TO HOOVER Poverty & Discontent
Communist Threat (Scottsboro Boys)
Bonus Army (1932)
![Page 12: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/12.jpg)
HARD TIMES City Life
Shantytowns “Hoovervilles”
Farms Dust Bowl & “Okies”
Family Life Women as
Breadwinners Culture
Hollywood The Grapes of Wrath
(Steinbeck)
![Page 13: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/13.jpg)
![Page 14: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/14.jpg)
Margaret Bourke-WhiteBread Line during the Louisville flood, Kentucky
1937
![Page 15: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/15.jpg)
![Page 16: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/16.jpg)
![Page 17: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/17.jpg)
Dorothea LangeDitched, Stalled, and Stranded San Joaquin Valley, California1935
![Page 18: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/18.jpg)
![Page 19: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/19.jpg)
“…I saw and approached the hungry and desperate mother, as if drawn by a magnet. I do not remember how I explained my presence or my camera to her, but I do remember she asked me no questions. I did not ask her name or her history. She told me her age, that she was thirty-two. She said that they had been living on frozen vegetables from the surrounding fields, and birds that the children killed. She had just sold the tires from her car to buy food. There she sat in that lean- to tent with her children huddled around her, and seemed to know that my pictures might help her, and so she helped me. There was a sort of equality about it…”
![Page 20: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/20.jpg)
Grant WoodsAmerican Gothic
![Page 21: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/21.jpg)
Jacob LawrenceTombstones
![Page 22: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/22.jpg)
Edward HopperNighthawks
![Page 23: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/23.jpg)
Diego Garcia
![Page 24: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/24.jpg)
Charles SheelerClassic Landscape
![Page 25: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/25.jpg)
ECONOMIC TROUBLES ON THE HORIZON
Background: The prosperity of the 1920s was largely based on the use of credit – def. – consumers agreed to buy now and pay later for purchases Installment buying Buying on margin Over speculation
![Page 26: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/26.jpg)
INSTALLMENT BUYING
def. - form of credit with monthly payments with interest
![Page 27: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/27.jpg)
BUYING ON MARGIN
def. – buying too many stocks hoping to sell at a higher price in a short period of time, regardless of risk involved
![Page 28: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/28.jpg)
OVER SPECULATION
• def.- paying only a small percentage of a stock’s price as a down payment and borrowing the rest to make a stock purchase
![Page 29: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/29.jpg)
CAUSES OF THE GREAT DEPRESSION
Black Tuesday Hawley-Smoot Act
![Page 30: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/30.jpg)
BLACK TUESDAY
October 29, 1929– the stock market crashed with 16.4 million shares of stock sold in one day, causing prices to collapse Prices of stocks fell
speculators left with huge debts that couldn’t be repaid to banks banks failed people lost their savings
![Page 31: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/31.jpg)
BANKS FAILING
The Federal Reserve failed to prevent widespread collapse of the nation’s banking system as banks continued to fail through the early 1930s
![Page 32: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/32.jpg)
HAWLEY-SMOOT ACT
Hawley-Smoot Act (1930) - High protective tariff resulted in retaliatory tariffs in other countries, which strangled international trade
![Page 33: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/33.jpg)
FINANCIAL COLLAPSE
Great Depression “Hoovervilles” Farm foreclosures
![Page 34: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/34.jpg)
UNEMPLOYMENT GRAPH
When was unemployment the highest?
Answer: 1933
![Page 35: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/35.jpg)
GREAT DEPRESSION
Great Depression– def. – period from 1929 to 1940 in which the economy plummeted and unemployment skyrocketed, causing widespread hardship Business failures – 90,000
businesses went bankrupt Collapse of the financial
system - over 11,000 bank closings
Unemployment – 25% of American workers were unemployed by 1932
![Page 36: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/36.jpg)
“HOOVERVILLES”
• “Hoovervilles”– def. - shacks and shantytowns of homeless people, named for President Hoover
President Hoover thought that private companies and volunteers should take care of the economy Did not act in the
beginning to try to counter act the depression
President Hoover
![Page 37: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/37.jpg)
FARM FORECLOSURES
Farm Foreclosures– farmers lost their homes and lands and were forced to migrate across the country looking for work Dust Bowl “Okies”
![Page 38: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/38.jpg)
DUST BOWL
Parts of Kansas, Oklahoma, Texas, New Mexico, and Colorado that were hardest hit by draught and dust storms
![Page 39: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/39.jpg)
DUST BOWL
Lasted 8 years Caused by poor agricultural practices
and years of sustained drought The winds of the Great Plains stirred up
the dust from the fields and blew it across the plains In 1932, 14 dust storms were recorded on the
Plains. In 1933, there were 38 storms. By 1934, it was estimated that 100 million
acres of farmland had lost all or most of the topsoil to the winds.
![Page 40: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/40.jpg)
DUST BOWL
The Dust Bowl got its name after Black Sunday, April 14, 1935. The cloud that appeared on the horizon that Sunday was the
worst. Winds were clocked at 60 mph. Then it hit.
The simplest acts of life — breathing, eating a meal, taking a walk — were no longer simple.
Children wore dust masks to and from school, women hung wet sheets over windows in a futile attempt to stop the dirt, farmers watched helplessly as their crops blew away.
http://www.english.uiuc.edu/maps/depression/dustbowl.htm
Life during the Dust Bowl
![Page 41: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/41.jpg)
“OKIES”
Okies: those who moved west to California from Oklahoma
These migrant workers/families lived in tents or out of their automobiles
![Page 42: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/42.jpg)
UNDERSTANDING IMAGES
What feelings does this image give you?
What do you think to woman is feeling? How about the kids?
Describe the way they are dressed?
Migrant Stories
Migrant Mother Photo Video Clip
![Page 43: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/43.jpg)
STEINBECK AND THE DUST BOWL
As John Steinbeck wrote in his 1939 novel The Grapes of Wrath: "And then the dispossessed were drawn west-
from Kansas, Oklahoma, Texas, New Mexico; from Nevada and Arkansas, families, tribes, dusted out, tractored out. Car-loads, caravans, homeless and hungry; twenty thousand and fifty thousand and a hundred thousand and two hundred thousand. They streamed over the mountains, hungry and restless - restless as ants, scurrying to find work to do - to lift, to push, to pull, to pick, to cut - anything, any burden to bear, for food. The kids are hungry. We got no place to live. Like ants scurrying for work, for food, and most of all for land."
![Page 44: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/44.jpg)
AMERICANS GET A NEW DEAL
Franklin Delano Roosevelt (FDR) won the presidential election of 1932 Inaugural address –
rallied a frightened nation
“The only thing we have to fear is fear itself.”
Fireside Chats – FDR’s radio addresses aimed at restoring American confidence
![Page 45: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/45.jpg)
NEW DEAL
Relief Recovery Reform
![Page 46: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/46.jpg)
RELIEF
Relief: measures that provided direct payment to people for immediate help
CCC (Civilian Conservation Corps)
TVA (Tennessee Valley Authority)
WPA (Works Progress Administration)
![Page 47: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/47.jpg)
CCC
Civilian Conservation Corps – provided jobs for young single males on conservation projects
![Page 48: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/48.jpg)
TVA
Tennessee Valley Authority – provided jobs building dams to bring running water and electricity to poor regions in the South
![Page 49: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/49.jpg)
WPA
Works Progress Administration – created as many jobs as quickly as possible in construction of airports, highways, and public buildings as well as professions such as art, music, and theater
![Page 50: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/50.jpg)
RECOVERY
Recovery: programs designed to bring the nation out of the Depression over time
AAA (Agricultural Adjustment Act)
NRA (National Recovery Administration)
![Page 51: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/51.jpg)
AAA AND NRA
AAA (Agricultural Adjustment Act) – aided farmers by regulating crop production so prices would rise
NRA (National Recovery Administration) – reformed banking practices and established fair codes of competition for businesses
![Page 52: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/52.jpg)
REFORM
FDIC (Federal Deposit Insurance Corporation)
Wagner Act SSA (Social Security Act)
![Page 53: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/53.jpg)
FDIC
Federal Deposit Insurance Corporation – protected bank deposits up to $5,000
What does it protect up to today?
![Page 54: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/54.jpg)
WAGNER ACT
Wagner Act– defined unfair labor practices and established the National Labor Relations Board to settle disputes between employers and employees
![Page 55: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/55.jpg)
SSA
Social Security Act – provided a pension for retired workers and their spouses and helped people with disabilities
![Page 56: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/56.jpg)
INTERPRETING CARTOONS
Who are they main figures in the cartoon?
What are they pouring down the pump?
What is occurring as it is being pumped into the economy?
![Page 57: The Great Depression and the New Deal, 1929-1939](https://reader034.vdocument.in/reader034/viewer/2022051619/56649e115503460f94afcef9/html5/thumbnails/57.jpg)
SIGNIFICANCE OF THE NEW DEAL
The New Deal changed the role of government to a more active participant in solving problems
Public believed in the responsibility of the federal government to:1. deliver public
services2. intervene in the
economy3. act in ways to
promote the general welfare