Responses to the Great Depression

International Responses Germany & _______________ adopted policies based on Keynesian economics Under President Hoover, USA maintained its _______________________ approach Hoover didn’t introduce any _________ measures Roosevelt campaigned for president by promising a _____________________ to be implemented in his 1st 100 days _____________________: group of relief measures based on Keynes’ theories Most early international responses didn’t help (e.g. increased protectionism & tight, balanced budgets) Early on most governments didn’t realize the full scope of the economic disaster USA was particularly hard hit by Depression FDR won the election and some credit him with bringing America out of the Depression (others argue it was the boon to the economy that was WWII)

Canada’s Response Ordinary People The Government Door-to-door ____________ Panhandling Seek help from churches & _____________________ Riding the rails On-to-Ottawa Trek Regina Riot Vancouver protests New ________________ like the CCF & Social Credit Regina Manifesto Bennett initially raised tariffs by ______% Banned the _________________ party Relief camps Pogey Bennett’s New Deal Rowell-Sirois Commission and equalization _______________________ King, prime minister for a short time at the beginning of the Depression, passed off responsibility for relief to provincial and municipal governments. He thought the Depression was a temporary financial downturn. He lost the 1930 election to R. B. Bennett who was slow to bring relief, but who eventually brought in his own version of the New Deal. Tariff increases designed to protect Canadian industries just led to retaliatory tariffs in other countries Complete ID/Sigs for highlighted terms

Consequences of the Great Depression

Political Consequences: Unemployment: As high as __________% Led to “______________________________________” like employment insurance & welfare Banking Failures: Many _____________ went bankrupt as farmers & the unemployed defaulted on loans People lost their ______________________________ Political Consequences: Rise of ______________________ New __________________________ Changing Role of Government: More active role in caring for ______________(e.g. sick benefits) Increased participation in economy (e.g. raising & lowering _____________________________, taxes, etc. to stimulate or slow growth) USA had over 6000 bank failures while Canada was comparatively better off due to more conservative banking rules FDR: “People who are hungry and are out a job are the stuff of which dictatorships are made.”