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The Crash, Dust Bowl, and Depression

The Crash, Dust Bowl, and Depression. America in Crisis. Economic Boom!. Values changing Excessive, pleasure seeking Entertainment and fun key Credit on the rise Consumerism having a hay day, for now Business up, wages barley increasing Bust soon to come. Crash.

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The Crash, Dust Bowl, and Depression

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  1. The Crash, Dust Bowl, and Depression America in Crisis

  2. Economic Boom! • Values changing • Excessive, pleasure seeking • Entertainment and fun key • Credit on the rise • Consumerism having a hay day, for now • Business up, wages barley increasing • Bust soon to come

  3. Crash • Effects of the Stock Market • Middle class folks hit hard • Great losses trickled into society • Impact felt across the nation and beyond • Start of the Depression • Consumers can’t keep up with production • Mismanagement in banking industry • No regulations of market activity Really only a symptom of a seriously diseased economy

  4. Dust Bowl • 1932-1939 most severe weather activity in nation’s modern history • Drought followed by dust storms destroyed farms and towns • Exodus to follow • By 1940 2.5 million left Plains states • Most off to California • Rude awakening

  5. This Too Shall Pass…… • Herbert Hoover saw Depression as a bump • Natural part of business cycle • Minor adjustments would get economy back on course • Trickle down economic plans failed • Miscalculations and underestimations brought about his presidential ruin • Smoot-HawleyTariff1930 • RFC: seen as aid to business and not the people

  6. General Prosperity, General Despair • Hoovervilles established • Bonus Army • Group of WWI vets and their family, seeking bonuses • Hoover sends in the troops, Gen. MacArthur takes his own approach • Election of 1932 • Hoover vs. Roosevelt

  7. FDR • Background: • Man of privilege • Life easy in the beginning • Assistant Secretary of Navy WWI • Charming, arrogant, sometimes brash • 1921 afflicted with polio • Different person after struggle • Charm still remained, determination and passions changed

  8. 1932 Election • New look to campaign • In speech, called for “bold, persistent experimentation” • No real plan outlined • Exuded confidence

  9. FDR as President • Whirlwind in the first 100 days • Three major goals: • Industrial recovery • Agricultural recovery • Short term emergency relief Seen as a Symbol of Hope!

  10. New Deal • CCC: Civilian Conservation Corps • Jobless youth sent to work • Forest restoration, park maintenance ect… • AAA: Agricultural Adjustment Administration • Lesson production of surplus items • Subsidies put in place to compensate farmers • Share croppers hit hard, pushed off of land

  11. Cont….. • NRA: National Recovery Administration • Idea was to create “fair competition” • Codes put in place • Banned all child labor • Unions back in business • Depended on voluntary support of both business and public “We Do Our Part” • Bogged down in red tape • 1935: deemed unconstitutional

  12. Cont…. • TVA: Tennessee Valley Authority • Better luck than NRA • Goal: improve living conditions in the Tennessee River Valley while supplying cheap electricity • Critics and Supporters • Had an attack of being unconstitutional, but survived

  13. New Deal on the Decline • 1937 FDR’s “court packing” scheme fails • 1938 recession comes back around, still 17% population unemployed • Writers and painters assisted by New Deal programs, earlier cynicism changed in late 1930’s • Foreign threats began to shape cultural climate, patriotism on the rise

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