Unit 8: The Great Depression 1.29.15

Next step Map the causes and effects of the stock market crash visually Create a graph, chart or visual aid explaining the causes of the crash and its effects

Hoover Presidency FDR’s Presidency 1929-1933 1933-1945

Hoover’s Response Hoover believed charity & government programs would just make people dependent He believed that government shouldn’t intervene to help businesses either Instead, he predicted that things would get better if everyone worked hard and pitched in http://www.history.com/topics/us-presidents/herbert-hoover/speeches/hoover-on-unemployment-relief?m=52af5724c3c2e&s=undefined&f=1&free=false

When FDR came into office… ¼ of the nation’s workforce was unemployed ¼ million families had defaulted on their mortgages 1.2 million Americans were homeless FDR elected in 1932 Promised to help people

FDR Enacted The New Deal FDR demanded "broad executive power to wage a war against the emergency, as great as the power that would be given me if we were in fact invaded by a foreign foe."

FDR’s Fireside Chats FDR began weekly radio addresses called “fireside chats” In these addresses he tried to reassure and unite the nation He explained parts of the New Deal and his policies to the American pe0ple http://www.history.com/topics/fireside-chats/videos/fdr-delivers-first-fireside-chat

The First 100 Days In FDR’s first 100 days in office, he pushed 15 major bills through Congress Reshaped every aspect of the economy – from banking and industry to agriculture and social welfare He called his approach “The New Deal”

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

Relief for the people Federal Emergency Relief Administration (FERA) Sent funds to local relief agencies $500 million for those organizations Created public works programs

Public Works Tennessee Valley Authority (TVA) Helped farmers Created jobs in underdeveloped rural areas Provided electricity and flood control Often seen as the key precursor to the Civil Rights Movement

Jobs Programs Public Works Administration (PWA) In 6 years, spent $6 billion Built dams, ports, Chicago’s sewer system Civilian Conservation Corps (CCC) Men between 18-25 were hired to restore the nation’s parks and forests Civil Works Administration (CWA) Put 2.6 million men to work in its first month

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

Recovery: 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

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

Reform: 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

Reform: Rural Electrification Rural Electrification Administration (REA) By the 1930s, 90% of people in urban areas had electricity, while only 10% in rural areas did REA provided electricity: eventually 98% of U.S. farms had it

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

Ultimately… What finally ended the Great Depression was WWII, which provided millions of jobs and boosted the economy 1940- America selling arms 1941- America enters WWII

Next Up: You will examine whether the New Deal was a success or failure This is something historians still debate today