The 1930’s; The Great Depression. A. President Hoover : “Good times will continue!” B. Unions began to decline II. People were getting rich by investing.

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Presentation transcript:

The 1930’s; The Great Depression

A. President Hoover : “Good times will continue!” B. Unions began to decline II. People were getting rich by investing in the stock market 1. Less government regulation, Optimistic atmosphere 2. Buying on margin

A. Buying on credit B. “Get rich quick ” attitudes C. Too many goods, too little demand D. Wealth concentrated in too few hands

A. Oct. 24, 1929, Black Thursday B. Oct. 29, 1929, Blacker Tuesday

A. Widespread panic B. Suicides C. Bank closings ( weak Federal Reserve System ) D. Domino effect

A. Hoover’s “ hands off ” approach B. Hawley-Smoot Tariff – strangled international trade C. The Dust Bowl

Discussion—Hoover’s hands-off approach – right or wrong? ? ?

A. House foreclosures B. Creation of Hoovervilles 1. Hoover blankets 2. Hoover flags

A. Riding the rails B. Hitchhiking C. Job rumors

A. Soup kitchens B. Apple sales C. Fear of revolt

The 1930’s; The Great Depression The New Deal Era

A. Hoover vs. Franklin Delano Roosevelt (FDR) B. Hoover- hated by public! C. FDR promises Americans a “ New Deal” 1. “Happy days are here again” 2. “The only thing we have to fear is fear itself” 3. Fireside Chats

A. Changes the role of government ; more helpful to the public B. Relief, recovery, and reform

1. Bank holiday – banks shut down 4 days st Amendment 3. NRA; National Recovery Administration

1. Too much government involvement

*** This would have given FDR the power to add up to 6 more justices to the Supreme Court (from 9). If he had been able to appoint them, he would always have his way with the Supreme Court!

A. Programs that help alleviate the effects of the Great Depression B. Aimed at relief, recovery, and reform