1936 Migrant Mother Photo by Dorothea Lange

Depression – A very severe recession; a period of severely declining economic activity spread across the economy (not limited to particular sectors or regions) normally visible in a decline in real GDP, real income, employment, industrial production, wholesale-retail credit and the loss of overall confidence in the economy.

“Black Tuesday” Oct. 29th, 1929 anguish, terrifying, despair Ticker tape was the earliest digital electronic communications medium, transmitting stock price information over telegraph lines, in use between around 1870 through 1970. anguish, terrifying, despair panic, catastrophe, frantic desperate, agonizing “Black Tuesday” Oct. 29th, 1929

CONSUMERISM

“I need to write this down, does anyone have a pen.” “Write it on your phone, we’re not pilgrims.”

Point & Counterpoint for the New Deal Gov’t assumed greater responsibility for the peoples welfare Jobs generated 1-3 million individuals within 5 yrs It was more than a temporary solution Creative way to solve national crisis Many more problems are created than solved Gov’t regulation gets in way, too many taxes Never met its real goals Failed to raise up the impoverished, failed to extend equality, money not redistributed

Shanty towns “Hoovervilles” Breadlines

Central Park NYC, 1931 “Too little, too late” “In Hoover we trusted, now we’re busted” “Too little, too late”

Bonus Expeditionary Force ; WWI Veterans, ~15,000+ July 1932, Washington DC

1932 election, FDR “this will elect me!” Cavalry led by MacArthur & Eisenhower ~1,000 Tear gassed Camps set ablaze Tanks

Positive Plans begun by Hoover. “TOO LITTLE TOO LATE!!” 1930-1936 Created the public work projects to provide jobs. Ex.Boulder Dam(Nevada & Az.) $800 million allotted. 1,000+ jobs Federal Farm Board Tried to decrease supply to raise prices by using farm cooperatives. National Credit CorporationLarge banks loaning $$ to smaller banks.

Positive Plans begun by Hoover. “TOO LITTLE TOO LATE!!” 1932 Reconstruction Finance CorporationLoaned money to major banks, RR companies, and factories to get their feet back on the ground. Attempt to refuel business expansion. $2 Billion worth of financing. This favored the “trickle down” effect. Critized! Federal Home Loan Bank ActAgency designed to prevent foreclosures on homes/farms. Lower mortgage rates & allow refinancing. Volunteerism*He asked employers not to cut wages/layoffs. Asked unions to not make demands. He also helped Af. Americans by app. some to Federal positions.

“Brother Can You Spare a Dime?” 1932 Yip Harburg They used to tell me I was building a dream, and so I followed the mob, When there was earth to plow, or guns to bear, I was always there right on the job. They used to tell me I was building a dream, with peace and glory ahead, Why should I be standing in line, just waiting for bread? Once I built a railroad, I made it run, made it race against time. Once I built a railroad; now it’s done. Brother, can you spare a dime? Once I built a tower, up to the sun, brick, and mortar, and lime; Once I built a tower, now it’s done. Brother, can you spare a dime? Once in khaki suits, gee we looked swell, Full of that Yankee Doodle Dum, Half a million boots went marching through Hell, And I was the kid with the drum! Say, don’t you remember, they called me Al; it was Al all the time. Why don’t you remember, I’m your pal? Brother, can you spare a dime? Once in khaki suits, gee we looked swelling, Say, don’t you remember, I’m your pal? Brother, can you spare a dime?