Depression by yantingting

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									               ELECTION OF 1928
                CANDIDATES
                •Republican- H. Hoover
                •Democratic- Al Smith


                ISSUES

•The Republicans took     •The _________ issue
                                Catholic
full credit for the       led to a smear
prosperity of the 1920s   campaign against
                          Smith.
             STOCK MARKET CRASH
             PLAYING THE MARKET
       STOCK MARKET
• The __________________was established as a
  system for buying and selling shares of
  companies. 
• A long period of rising stock prices is known as
  a_____________________. 
     BULL MARKET
• Prosperous times during the 1920s caused many
  Americans to invest heavily in the stock market.
• As the bull market continued to go up, many
  investors bought stocks on ____________, making
                               MARGIN
  a small cash down payment. 
• This was considered safe as long as stock prices
  continued to ______________. 
                 RISE
• If the stock began to fall, the broker could issue a
  margin call demanding that the investor repay the
  loan immediately.
•Speculation occurred when investors bet on the
 market climbing and sold whatever stock they had in
 an effort to make a quick profit.
 •stock prices dropped and the bull market ended. 
 •Stock prices fell drastically on October 29, 1929,
 Black__________________,
        TUESDAY
   STOCK MARKET CRASH: EFFECTS
•did not cause the Great Depression
•The stock market crash weakened the nation’s
banks.
•Banks lost money on their investments.
•Because the government did not insure bank
deposits, customers lost their money if a bank closed.
•Bank runs resulted as many bank customers
withdrew their money at the same time, causing the
bank to collapse
The Great Crash


How did the stock market crash weaken the
nation’s banks?
The stock market crash caused the banks
to lose money on their investments, and
speculators defaulted on bank loans.
Because the government did not insure
bank deposits, customers lost their money
if a bank closed. Bank runs resulted as
many bank customers withdrew their
money at the same time, causing the
bank to collapse.                     (pages 658–659)
        CAUSES OF DEPRESSION




 •uneven distribution of wealth- top 5 percent of
 American households earned 30 percent of the
 country’s income.
•Low consumption
•To much credit- not
enough money going
back to the business
•Farm surplus
•No banking
regulations
•Hawley-Smoot Tariff
raised tariffs on imports
causing other countries
to raise tariffs on US
goods, making it
difficult to sell US good
over seas.
•Worker’s wages did not increase fast enough to keep
•As sales decreased, workers were laid off, resulting
in a chain reaction that further hurt the economy.
M/C 1-2a
HARD TIME HIT HOME
          CITIES
Unemployed workers often
stood at ______________
          BREADLINES
to receive free food or at
________________ where
SOUP KITCHENS
private charities gave a
free meal to the poor.
People lost their homes
and had to live in
shantytowns called-




                          HOOVERVILLES
RURAL AREAS




          A terrible drought in
          the Great Plains,
          beginning in 1932,
          caused the region
          to become a
           DUST BOWL
          _______________
•People were left
 homeless.
•Some left the farms
 and went to Calif. to
 become migrate
 workers. These
 people were called
 Okies
              HOOVER’S RESOLVE
                         •Believed in “rugged
                         individualism”- the ________
                                                GOVT.
                         should not take care of
                         individual $ problems.
                          •No direct relief to the people:
                          this should be done by the
                          state and local govt.
                        •Hoover increased public
                        works–government-financed
                        building projects.- Bolder
                        Dam
•He asked Congress to set up the Reconstruction
Finance Corporation (RFC) to make loans to banks,
railroads, and agricultural institutions.
•______________________
   BONUS ARMY
marched to Washington, D.C.,
to ask Congress to approve the
legislation to get their bonus
money early.
Hoover wouldn’t meet w/ them and sent the Army
to burn the Hooverville. They didn’t get the money.
REP.        ELECTION OF 1932      DEM.




                           polio
                     •Had ______________
•Blamed for the
 DEPRESSION          •Pledged a
__________________
                     ________________
                      NEW DEAL
      THE NEW DEAL
PRIMEING          GOALS
THE PUMP
                •RELIEF
      $
•Put ______
into            •REFORM
circulation     •RECOVERY
by creating
__________
JOBS
   “THE ONLY THING WE HAVE TO FEAR, IS FEAR ITSELF”




FIRESIDE CHATS
________________- radio speeches by FDR to
explain what his plans were and to people’s
anxiety.
       A CALL TO ACTION
                    FDR’S ADVISORS
                   •Wife-
                   ELEANOR ROOSEVELT
                   ___________________
                   •________________-
                     BRAIN TRUST
                   experts making up
                   his unofficial
                   advisors made up
                   all kinds of people
•First female cabinet member; Sec.
of Labor- _______________________
          FRANCE PERKINS
          FIRST NEW DEAL
•Closed banks until they were strong
enough to reopen- BANK HOLIDAY
•Insurance to protect personal bank
deposits- FDIC
•Govt. agency that regulates the stock
market to keep the market more
secure- SEC
                   CREATION OF
                  CONSTRUCTION
                      JOBS
                      PWA



•Hospitals &
Schools



       •Subways
  CWA- hired workers directly and put them on the
               government’s payroll.




•Roads                                 •Ball parks
Build dams to improve the south-
               TVA
               CCC
•Employed ______________
           Single men
•Ages ____________
        18-25
•work with the national forestry
 service planting trees, fighting
 forest fires, and building
 reservoirs.
                    AAA
•plan that paid farmers not to
 ___________________ to lower crop
  Raise certain crop
 ______________________.
  production

•the plan reduced production, increased
 prices
 __________
                                •allowed business, labor,
           NRA                  and government to
                                cooperate in setting up
                                voluntary rules, known as
                                codes of fair competition, for
                                each industry.




• it urged consumers to buy only
  from companies who signed
  agreements with the NRA.
• declared unconstitutional by the
  Supreme Court in 1935.
       NYA
Provide jobs for
high school and
college students.
                 NOT ENOUGH HELP
By 1935 the economy has still not recovered
• The most important aspect of Roosevelt’s New Deal
  was the change in the spirit of the American people.

There was enough relief to keep people from
 starving
• People became hopeful and optimistic, and their faith in
  America was restored.

• Roosevelt used deficit spending to pay for his
  programs.

• He abandoned a balanced budget and borrowed
  money to pay for his programs.
             NEW DEAL CRITICS
Father Coughlin
Huey Long-
•Level income, HOME AND COLLEGE
               ___________________ for all
•proposed taking property from the ________ and
                                    RICH
dividing it up amongst the _________.
                            POOR
Francis Townsend
                         ELDERLY
•Proposed income for _____________
•proposed that the federal government pay citizens
over the age of 60 a pension of $200 a month.
 MORE PROGRAMS
 SECOND NEW DEAL
  WPA
•_____creating jobs for
workers




  •Its most controversial aspect was offering work to:
  1) writers.
    •Travel guides for each
     state
    •Interviewed former slaves
     and mountain people
2) Artists painted murals for
govt. buildings such as post
offices, city halls, etc.
3) musicians, and theater people
  SOCIAL SECURITY
•___________________-old age pensions,
unemployment, aid to families with
children

          LABOR RELATIONS IMPROVE
•NLRB (Wagner Act)
•FAIR LABOR STANDARDS
                  COURT PACKING
Several New Deal programs ruled unconstitutional
•AAA, NRA
FDR proposed adding new justices
•Roosevelt feared that the Court would strike down the
New Deal.
•court-packing- FDR sent Congress a bill to increase
                              SUPREME COURT
the number of justices on the____________________.
•Seen as a threat to checks and balances by giving
the ____________ too much power.
    PRES.
               END OF THE NEW DEAL
              AFRICAN AMERICANS
Mary Bethune- established ____________________




Marian Anderson- concert at the Lincoln Memorial
                  MOTION PICTURES
•Americans escaped the hardships
of the Depression by going to the
movies and listening to radio
broadcasts.


                  S. Temple &
                  Mr.
                  Bowjangles

                                    SNOW WHITE
                                    WALT DISNEY

                            WIZZARD OF OZ
Stories tended to be about
overcoming hardships and achieving
success




                                     GRETA GARBO

 GONE WITH THE WIND            MARLENE DIETRICH




               JAMES CAGNEY
           MARX BROTHERS



J. STEWART
_________________- starred in “It’s
a Wonderful Life” and “Mr. Smith
Goes To Washington”
           RADIO ENTERTAINS THE MASSES
•Families gathered around the radio daily to hear news
or listen to comedians like George Burns or a dramatic
series like the Lone Ranger.




               BOB HOPE



     ORSON WELLES
     _________________-
     produced a radio program,
     “War of the Worlds”
        ART AND LITERATURE




  Richard      Grant Wood
  Wright       AMERICAN
               ___________
                 GOTHIC
               ___________
  NATIVE
____________
    SON
____________
Culture and Traditions In what ways
did people seek to forget about the
Depression?

Americans looked to radio and motion
pictures as an escape.
  EFFECT ON            FDR PLAN           HOOVER
   AMERICA                               TRICKLE
                                        _____________
                         DEAL
   BUSINESS         NEW _____________    DOWN
• _______________                       ____________
Failure
                    GOALS:              Theory
•Unemployment        RELEIF
                    _________________
   INCREASE
________________                        No direct relief
                     REFORM
                    _________________
•Farmers lost                                   PEOPLE
                                        to the _______
________________
     LAND            RECOVERY
                    _________________
•People migrated
to the city

								
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