Unit 7: The Great Depression

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Unit 7: The Great Depression 2.13.18

The New Deal Goals: Relief – Stop the pain Recovery – Fix the problems Reform – Make sure it never happens again

The New Deal Relief: Stop the Pain

For the people Federal Emergency Relief Administration (FERA) Sent funds to local relief agencies & created public works programs Tennessee Valley Authority (TVA) Created jobs & provided electricity and flood control in underdeveloped rural areas Public Works Administration (PWA) Built dams, ports, sewer systems Civil Works Administration (CWA) Construction jobs (buildings & bridges)

Helping Homeowners & Farmers Home Owners Loan Corporation (HOLC) Refinanced mortgages Agricultural Adjustment Administration (AAA) Gave farm subsidies

The New Deal Recovery: Fix the Problem

Fixing Banks Declared a bank holiday Glass-Stegall Banking Act of 1933 Created the FDIC to insure banks Guaranteed all bank deposits under $5,000 $250,000 today (deposits only)

Regulating the Market Federal Securities Act Required companies to provide info about their finances if they sold their stock Securities and Exchange Commission (SEC) Regulates the stock market

The New Deal Reform: Prevent Future Problems

Social Security Aimed to help America’s poor, the elderly, dependent children, the handicapped Provided monthly stipends Legacy: Still America’s largest and most important safety net Most Americans depend on Social Security to retire

Helping Labor Wagner Act: Legalized union practices Collective bargaining Closed shops – some workplaces only open to union members

WWII 1940- America selling arms 1941- America enters WWII

The Question: Was the New Deal a Success or a Failure? Your task today: Use the documents to answer the questions Your task tomorrow: Discussion: Success or Failure? Thursday & Friday: 1 Paragraph response

Step 1 Learn more about the New Deal Use the documents to answer the questions on pages 1 & 2 GDP: Gross Domestic Product, value of goods & services produced by the country If the GDP is up, the economy is growing If the GDP is down, the economy is shrinking