C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 1 THE GREAT DEPRESSION ( ) Section 1: The End of Prosperity Section 2: Hoover and the Depression Section 3: Roosevelt and the New Deal Section 4: The Second New Deal Chapter 14

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 2 OBJECTIVES Why did many Americans invest in the stock market in the 1920’s? Why did many Americans invest in the stock market in the 1920’s? What took place during the stock market crash, and how did it affect the nation? What took place during the stock market crash, and how did it affect the nation? What economic factors contributed to the Great Depression, and how did the crisis affect Americans? What economic factors contributed to the Great Depression, and how did the crisis affect Americans? Section l: The End of Prosperity

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 3 The Stock Market Soars The healthy economy in the late 1920’s led many people to purchase stocks. The healthy economy in the late 1920’s led many people to purchase stocks. Rising demand for stocks led to higher prices for shares and a bull market. Experts saw no end to the bull market. Rising demand for stocks led to higher prices for shares and a bull market. Experts saw no end to the bull market. Many investors were buying on margin – buying stocks on credit with a loan from a broker – in hopes of making a great profit. Many investors were buying on margin – buying stocks on credit with a loan from a broker – in hopes of making a great profit. bull market – continuing rise in stock prices Section l: The End of Prosperity

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 4 The Stock Market Crash and It’s Effect on the Nation On September 3, 1929, stock prices hit an all time high and then began to slide downward. On September 3, 1929, stock prices hit an all time high and then began to slide downward. On October 24, 1929 large-scale investors sold huge block of share, causing prices to fall even more. On October 24, 1929 large-scale investors sold huge block of share, causing prices to fall even more. On October 29, 1929, known as Black Tuesday, the stock market collapsed and investors began to panic. On October 29, 1929, known as Black Tuesday, the stock market collapsed and investors began to panic. People were fearful and confused and it resulted in the Panic of 1929 effecting almost all Americans. People were fearful and confused and it resulted in the Panic of 1929 effecting almost all Americans. Section l: The End of Prosperity

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 5 Economic Factors that Contributed to the Great Depression stock market crash stock market crash bank failures bank failures overproduction overproduction Section l: The End of Prosperity

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 6 Effect on Americans Many Americans lacked the resources to deal with the economic crisis. Many Americans lacked the resources to deal with the economic crisis. People could not afford to buy goods that were produced. People could not afford to buy goods that were produced. Americans that had bought goods on credit could not pay off their debts. Americans that had bought goods on credit could not pay off their debts. Section l: The End of Prosperity

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 7 OBJECTIVES In what ways did the Great Depression affect the everyday lives of Americans? In what ways did the Great Depression affect the everyday lives of Americans? What actions did President Hoover take to help Americans during the depression? What actions did President Hoover take to help Americans during the depression? How did Hoover respond to the Bonus Army’s demands? How did Hoover respond to the Bonus Army’s demands? Section 2: Hoover and the Depression

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 8 Depression Hits Home U.S. unemployment rate in 1932 was about 24 percent. U.S. unemployment rate in 1932 was about 24 percent. Hundreds of thousands of people left their homes in search of jobs. Hundreds of thousands of people left their homes in search of jobs. Living conditions in the cities were difficult and sometimes people were forced to find shelter in Hoovervilles – camps full of shacks built from cardboard boxes or scrap wood. Living conditions in the cities were difficult and sometimes people were forced to find shelter in Hoovervilles – camps full of shacks built from cardboard boxes or scrap wood. Section 2: Hoover and the Depression

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 9 Depression Hits Home Farm families struggled. Farm families struggled. Minorities and immigrants were hit especially hard. Minorities and immigrants were hit especially hard. The poverty of the depression hurt the pride of Americans. The poverty of the depression hurt the pride of Americans. Private organizations began providing direct relief. Private organizations began providing direct relief. Section 2: Hoover and the Depression (continued)

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 10 Hoover’s Response Started a program to stimulate the economy Started a program to stimulate the economy Established the Reconstruction Finance Corporation (1932) – loaned money to businesses and banks to help keep them operating Established the Reconstruction Finance Corporation (1932) – loaned money to businesses and banks to help keep them operating Cut federal taxes and encouraged the federal government to spend about $150 million on public works Cut federal taxes and encouraged the federal government to spend about $150 million on public works Section 2: Hoover and the Depression

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 11 Hoover’s Response Assisted farmers in getting loans to buy animal feed and farm equipment Assisted farmers in getting loans to buy animal feed and farm equipment Supported the 1932 Federal Home Loan Bank Act which provided money to banks, financial institutions, and insurance companies to provide low-interest mortgages Supported the 1932 Federal Home Loan Bank Act which provided money to banks, financial institutions, and insurance companies to provide low-interest mortgages Section 2: Hoover and the Depression (continued)

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 12 Hoover’s Response to the Bonus Army Their protest, in May 1932, convinced the House of Representatives to pass a bill calling for immediate payment of the bonus but the bill was defeated by the Senate. Their protest, in May 1932, convinced the House of Representatives to pass a bill calling for immediate payment of the bonus but the bill was defeated by the Senate. A riot broke out and Hoover ordered General Douglas MacArthur to restore order. A riot broke out and Hoover ordered General Douglas MacArthur to restore order. The army’s camp was destroyed and Hoover defended his action as necessary to protect the public. The army’s camp was destroyed and Hoover defended his action as necessary to protect the public. Section 2: Hoover and the Depression

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 13 OBJECTIVES What steps did Franklin D. Roosevelt take immediately after becoming president to fight the depression? What steps did Franklin D. Roosevelt take immediately after becoming president to fight the depression? How did New Deal programs address the problem of unemployment in the United States? How did New Deal programs address the problem of unemployment in the United States? What programs addressed the needs of industry and agriculture? What programs addressed the needs of industry and agriculture? Section 3: Roosevelt and the New Deal

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 14 FDR Fights the Depression Immediately After Becoming President Roosevelt selected experienced reformers to his cabinet. Roosevelt selected experienced reformers to his cabinet. He placed many African Americans in government positions. He placed many African Americans in government positions. First Lady Eleanor Roosevelt played an important role in the administration by meeting with many political allies. First Lady Eleanor Roosevelt played an important role in the administration by meeting with many political allies. Section 3: Roosevelt and the New Deal

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 15 The New Deal and Unemployment Civilian Conservation Corps – gave jobs to unmarried men ages putting nearly 3 million of them to work. Civilian Conservation Corps – gave jobs to unmarried men ages putting nearly 3 million of them to work. Civil Works Administration – supplied temporary work during the winter of 1933 and provided work for more than 4 million Americans. Civil Works Administration – supplied temporary work during the winter of 1933 and provided work for more than 4 million Americans. Section 3: Roosevelt and the New Deal

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 16 Programs for Industry and Agriculture The National Industrial Recovery Act (1933) created the National Recovery Administration to develop codes for industry that set prices, wages, and work hours. The National Industrial Recovery Act (1933) created the National Recovery Administration to develop codes for industry that set prices, wages, and work hours. The NRA tried to end child labor and sweatshops. The NRA tried to end child labor and sweatshops. The NRA was ruled unconstitutional in 1935 by the Supreme Court The NRA was ruled unconstitutional in 1935 by the Supreme Court Section 3: Roosevelt and the New Deal

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 17 Programs for Industry and Agriculture The Agricultural Adjustment Act (AAA) of 1933 paid farmers to reduce their production of many crops, dairy products, and hogs. The Agricultural Adjustment Act (AAA) of 1933 paid farmers to reduce their production of many crops, dairy products, and hogs. In 1933 the government paid farmers to plow under 10 million acres of cotton. In 1933 the government paid farmers to plow under 10 million acres of cotton. Section 3: Roosevelt and the New Deal (continued)

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 18 OBJECTIVES Why were some people critical of the New Deal? Why were some people critical of the New Deal? How did the programs of the Second New Deal address the nation’s needs? How did the programs of the Second New Deal address the nation’s needs? How did President Roosevelt try to prevent the Supreme Court from overturning his New Deal programs? How did President Roosevelt try to prevent the Supreme Court from overturning his New Deal programs? Section 4: The Second New Deal

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 19 New Deal Critics The American Liberty League, a group of business leaders, opposed the New Deal claiming that it discouraged free enterprise and was the beginning of socialism. The American Liberty League, a group of business leaders, opposed the New Deal claiming that it discouraged free enterprise and was the beginning of socialism. Other critics claimed that the New Deal had not done enough for the public. Other critics claimed that the New Deal had not done enough for the public. Father Charles E. Coughlin, a Catholic priest in Detroit, called for ever stronger government control over banking, business and money. Father Charles E. Coughlin, a Catholic priest in Detroit, called for ever stronger government control over banking, business and money. Section 4: The Second New Deal

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 20 New Deal Critics U.S. Senator Huey P. Long of Louisiana advocated his Share-Our-Wealth program. U.S. Senator Huey P. Long of Louisiana advocated his Share-Our-Wealth program. Share-Our-Wealth – plan organized in 1934 by U.S. Senator Long that called for the federal government to limit the side of all personal fortunes so that every family would be guaranteed a minimum income of $2,500 a year Section 4: The Second New Deal (continued)

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 21 The Second New Deal Addresses the Nation’s Needs In April 1935 Congress passed the Emergency Relief Appropriation Act. In April 1935 Congress passed the Emergency Relief Appropriation Act. provided $4.8 billion to help the unemployed provided $4.8 billion to help the unemployed created the Works Progress Administration (WPA) that employed more than 8.5 million Americans between 1935 and 1943 building bridges, parks, public buildings, and roads created the Works Progress Administration (WPA) that employed more than 8.5 million Americans between 1935 and 1943 building bridges, parks, public buildings, and roads Section 4: The Second New Deal

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 22 The Second New Deal Addresses the Nation’s Needs Federal projects were begun to employ artists in need of employment. Federal projects were begun to employ artists in need of employment. Some WPA relief money went to the National Youth Administration (NYA) to give part- time jobs to more than 4.5 million high school and college-age students. Some WPA relief money went to the National Youth Administration (NYA) to give part- time jobs to more than 4.5 million high school and college-age students. Section 4: The Second New Deal (continued)

C ALL TO F REEDOM HOLT HOLT, RINEHART AND WINSTON 1865 to the Present 23 Roosevelt, the New Deal, and the Supreme Court Roosevelt came up with a new bill to change the structure of the Supreme Court by increasing the maximum number of justices from 9 to 15. Roosevelt came up with a new bill to change the structure of the Supreme Court by increasing the maximum number of justices from 9 to 15. As president, Roosevelt would appoint new judges, selecting those who would support his New Deal programs. As president, Roosevelt would appoint new judges, selecting those who would support his New Deal programs. Section 4: The Second New Deal