Great Depression What’s so great about it, anyway?

Table of Contents Outline Journal Questions

Outline Leading to the Great Depression Hoovervilles Election of 1932 New Deal Brain Trust Opponents to FDR Court Packing Other events of the 1930’s Back

Leading to the Depression Farming Problem Overproduction Drop in Consumer Spending

Leading to the Depression Rising stock prices $$$$ Perceptions

Leading to the Depression Buying on Margin Putting 10% of stock down, paying for the rest when the stock when up

Leading to the Depression Banking practices Stock Market Crash Oct. 29, 1929 $40 Billion lost in two months

Leading to the Depression Margin calls Unemployment Dust Bowl (33- 37) Bonus Marches Wanted pensions from the gov’t, from WWI

Leading to Depression Fear, panic, depression Bankruptcies Layoffs 25% by 1933

Hoovervilles Villages of homeless people during the depressionVillages of homeless people during the depression

Election of 1932 Rep.-- H. HooverRep.-- H. Hoover Dem.– F. RooseveltDem.– F. Roosevelt Both had different philosophies about the Depression

Hoover Conservative ApproachConservative Approach Relied on assistance from charities and volunteersRelied on assistance from charities and volunteers Depression is psychological.Depression is psychological. Depression is a cycle.Depression is a cycle. Relief undermines a persons character.Relief undermines a persons character.

Roosevelt Government needs to be activeGovernment needs to be active “The only thing we have to fear, is fear itself.”“The only thing we have to fear, is fear itself.” “The American people will get a “New Deal.””“The American people will get a “New Deal.”” FDR wins in a landslideFDR wins in a landslideFDR wins in a landslideFDR wins in a landslide

Fireside Chats Radio talks given by FDR to the countryRadio talks given by FDR to the country Discussed problems and issuesDiscussed problems and issues

FDR’s “One Hundred Days” Enormous amounts of legislation passedEnormous amounts of legislation passed 21 st Amendment (Repeals 18 th )21 st Amendment (Repeals 18 th ) –Didn’t work –More criminals –Couldn’t tax –More jobs –Raised spirits

New Deal Programs Social Security ActSocial Security Act –est. pensions for WWI survivors and disabled Fair Labor Standards ActFair Labor Standards Act –est. a 44 hr work week and.25 cent min. wage Wagner ActWagner Act –allowed collective bargaining for unions

Yes, More New Deal Programs Agricultural Adjustment ActAgricultural Adjustment Act –Gov’t compensated farmers for producing less “Bank Holiday”“Bank Holiday” –All banks closed to regroup Federal Deposit Insurance Corp. (FDIC)Federal Deposit Insurance Corp. (FDIC) –Insured deposits Securities and Exchange Comm. (SEC)Securities and Exchange Comm. (SEC) –Created to monitor stock market

Paying for the New Deal Raised taxes on workers, borrowed money for businesses, and private wealthy individualsRaised taxes on workers, borrowed money for businesses, and private wealthy individuals “Alphabet Administration”“Alphabet Administration” –Nickname given because of the programs created by the New Deal

“The Brain Trust” Nickname for FDR’s cabinet membersNickname for FDR’s cabinet members –Francis Perkins first woman cabinet member –Appointed many African-Americas to advisory positions Begins trend of women and African Americans voting DemocraticBegins trend of women and African Americans voting Democratic

Opponents to FDR Huey LongHuey Long –Socialist Governor of Louisiana –Felt FDR and Hoover had done too little to help during the depression –Was elected to the Senate and vowed to win the Presidency in 1936 –Was shot and killed in 1935.

Opponents to FDR Father Charles CoughlinFather Charles Coughlin –created the National Union for Social Justice party to run against FDR in 1936 –Supported Hitler and Mussolini –Very anti-Semitic –Radio show shut down by FDR

FDR’s “Court Packing” Plan FDR pushed to raise the S.C. from 9 to 15FDR pushed to raise the S.C. from 9 to 15 Wanted to appoint new justices who favored the New DealWanted to appoint new justices who favored the New Deal Opposed by both sides.Opposed by both sides.

Other 1930’s Events Dust BowlDust BowlDust BowlDust Bowl –Caused by poor crop rotation and drought

Grapes of WrathGrapes of Wrath –Story about a family during the Depression

Empire State Building Worlds tallest building from Worlds tallest building from

Hindenburg Disaster Hydrogen blimp that exploded over New JerseyHydrogen blimp that exploded over New Jersey Would you like to see the Would you like to see the disaster?

The Wizard of Oz Enormous hit film, released in 1939Enormous hit film, released in 1939

Mickey Mouse Created in 1928, becomes cartoon icon in the 30’sCreated in 1928, becomes cartoon icon in the 30’s

Becomes the terrifying radio hit in 1938Becomes the terrifying radio hit in 1938radio

Bonnie and Clyde

Jessie Owens wins four Gold Medals in the 1936 Olympics Jessie Owens wins four Gold Medals in the 1936 Olympics.

Journal Questions Back

Question 1 What do you think caused the Stock Market Crash in 1929? Back

Question 2 Do you think Hoover was wrong in his approach to the Great Depression? Why or why not? Back

Question 3 The Great Depression lasted a decade while New Deal after New Deal program failed to do anything to end it. Do you agree or disagree? Why? Back