The Beginning of the Great Depression Causes How bad was it? The New Deal

The Great Depression CAUSES Dustbowl 1920s Inflation / False Prosperity Overproduction Black Tuesday Buying on the Margin Bank Failures RESPONSES / RESULTS Hoover’s Plan Hoovervilles Bonus Army Migrant Workers Red Cross Migrant Workers

How Bad Was it? Starvation Hoovervilles Suicides Unemployment Overproduction Violent Crime Instability Gov’t Relief

I pledge you, I pledge myself, to a new deal for the American people. - Franklin Roosevelt 1932

Overview of the New Deal The Crash and Hoover’s Response 1929 Crash coupled by massive drought leads to Great Depression By 1932 widespread bank failures, home and farm foreclosures, unemployment, suicides, are all rampant. Hoover opposes direct government sponsored relief believes relief work is business of volunteer organizations like Red Cross. Seeks to stimulate economy at highest levels through trickle down policies election was landslide v. Republicans, Roosevelt rode that landslide.

New Deal Overview The First New Deal New Deal promises had been vague Brains Trust Goal is restoration of mass purchasing power. (Recovery) Fireside Chats 100 Days –Bank Holiday –NRA ( ) –CCC – TVA –FDIC

The Second New Deal After 1934 congressional elections focus shifts to relief and reform. WPA Social Security NLRB – Wagner Act Keynesian Economics Recession of 1937 Conservative Critics “Demagogues” –Huey Long –Dr. Townsend –Father Coughlin

1939 The New Deal Ends – WWII Begins Recession of 1937 Unemployment down from 25% but still near 15% War related orders bring about full employment in

FDR’s New Deal

Great Depression – Main Questions What caused the Great Depression? How did the GD come to affect all people, not just the wealthy? What made the GD worse than previous financial crises? Describe how bad conditions became in America during the GD. What steps did the Fed government take originally to address the crisis? (Under Hoover) What accounted for FDR’s popularity / win in 1932? What programs did FDR undertake to address the GD? (New Deal) What criticisms existed of the New Deal? What is the lasting legacy of the New Deal on today’s America?

Great Depression - Vocab Andrew Mellon Dustbowl 1920s Inflation / False Prosperity Black Tuesday Buying on the Margin Banks Close Herbert Hoover Franklin Roosevelt Hoover’s Plan Hoovervilles Migrant Workers Red Cross Overproduction Brains Trust New Deal Bank Holiday Bonus Army F. Perkins H. Hopkins NRA ( ) CCC – TVA FDIC WPA Social Security NLRB – Wagner Act Keynes “Demagogues” Huey Long Dr. Townsend Father Coughlin