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The 1930’s; The Great Depression

The 1930’s; The Great Depression. I. The 1920’s were a time of prosperity . President Hoover : “Good times will continue!” Unions began to decline II. People were getting rich by investing in the stock market 1. Less government regulation , Optimistic atmosphere

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The 1930’s; The Great Depression

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  1. The 1930’s; The Great Depression

  2. I. The 1920’s were a time of prosperity • President Hoover: “Good times will continue!” • Unions began to decline II. People were getting rich by investing in the stock market 1. Lessgovernment regulation , Optimistic atmosphere 2. Buying on margin

  3. III. Emerging problems A. Buying on credit B. “Get richquick” attitudes C. Too many goods, too little demand D. Wealth concentrated in too few hands

  4. E. The stock market crash A. Oct. 24, 1929, Black Thursday B. Oct. 29, 1929, Blacker Tuesday

  5. IV. Problems caused by the crash A. Widespread panic B. Suicides C. Bank closings (weak Federal Reserve System) D. Domino effect

  6. V. The depression worsens • Hoover’s “hands off” approach • Hawley-Smoot Tariff – strangled international trade • The Dust Bowl

  7. V. The depression worsens Discussion—Hoover’s hands-off approach – right or wrong? ? ?

  8. VI. Massive unemployment • House foreclosures • Creation of Hoovervilles • Hoover blankets • Hoover flags

  9. VII. Mass migration • Riding the rails • Hitchhiking • Job rumors

  10. VIII. Starvation • Soupkitchens • Applesales • Fear of revolt

  11. Great Depression, part 2 The 1930’s; The Great Depression The New Deal Era

  12. I. The election of 1932 • Hoover vs. Franklin Delano Roosevelt (FDR) • Hoover-hated by public! • FDR promises Americans a “New Deal” • “Happy days are here again” • “The only thing we have to fear is fear itself” • Fireside Chats

  13. FDR vs. Hoover

  14. D. FDR dominates the election (472-59)

  15. II. The New Deal • Changes the role of government; more helpful to the public • Relief, recovery, and reform

  16. C. The first 100 days • Bank holiday – banks shut down 4 days • 21stAmendment • NRA; National Recovery Administration

  17. D. New Deal criticism 1. Too much government involvement

  18. 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!

  19. III. “Alphabet Soup” programs A. Programs that help alleviate the effects of the Great Depression B. Aimed at relief, recovery, and reform

  20. 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!!

  21. 4. CCC; Civilian Conservation Corps – young men from 18 to mid 20s join this; work in the wilderness, send money back home5. TVA; Tennessee Valley Authority – provided dams & electricity to farmers in the Tennessee Valley area

  22. 6. Social Security Act – provided a retirement income to the elderly 65 and older

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