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the great depression
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Election of 1928 -Herbert Hoover “Two cars in every garage” -20’s marked a reign of prosperity -Hoover predicts the end of poverty
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Stock Market Crash -Warning Signs Speculation Buying on Margin -Stock prices were inflated -Oct 1929 prices begin to fall -Oct 29, Black Tuesday Great Crash
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Causes of Depression -Overproduction of goods
-Too much available credit -less consumption of goods -farm surplus -high tariffs -no banking regulations -Hawley-Smoot Tariff, 1930 -everything became a chain reaction
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Hard Times Hit Home -Rural areas foreclosure of farms, food supply, Dust Bowl -Cities shantytowns, soup kitchens, breadlines -Family Life men on the move, hardships of women, health of children, -Social effects more suicide, mental illness, dreams forsaken, ethics, hardwork
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Hoover’s Resolve -Rugged Individualism -created gov’t agency to help business recover -gave no direct relief to the people -”Two families in every garage” -Hoovervilles -Bonus Army March on Washington -Radicals begin to develop
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Election of 1932 -Franklin Roosevelt governor of NY -Pledged a New Deal for the people Help for the common man -Democrats wins great majority in Congress -Hoover remain a lame duck for several months -Banking system was in a crisis
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“Only Thing To Fear” -1932 Inauguration Speech “The only thing we have to fear, is fear itself” -Public Relations -Fireside Chats
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A Call to Action -Progressive programs Experiment with solutions -Group Effort Eleanor Roosevelt Brain Trust -1st 100 Days
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First New Deal -Bank Holiday -FDIC -SEC
-designed for recovery and relief -deficit spending -pump priming
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Alphabet Soup -FDIC Federal Depositors Insurance Corporation -SEC Securities and Exchange Commission -PWA Public Works Administration -CWA Civil Works Administration
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Alphabet Soup -TVA Tennessee Valley Authority -CCC Civilian Conservation Corp -AAA Agricultural Adjustment Act -NRA National Recovery Administration
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Alphabet Soup -TVA Tennessee Valley Authority -CCC Civilian Conservation Corp -AAA Agricultural Adjustment Act -NRA National Recovery Administration
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Dust Bowl -great drought had hit the lower plains -mid 1930’s wind storms started -farms destroyed -many people migrate to the west migrant farm workers “Okies” -”Grapes of Wrath” John Steinbeck
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Not Enough Help -By 1935 the economy has still not recovered -there is enough relief to keep people from starving -some people start to demand more action
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New Deal Critics -Father Coughlin heavy taxes on the rich to provide income for all -Huey Long “Every man a King” level income, home and college for all -Francis Townsend proposed income for elderly
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More Programs -programs to continue kelp for working class Americans and their families -WPA Works Progress Administration -Social Security Act old age pensions, unemployment, aid to families with children -Rural Electrification Administration
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More Programs -programs to continue kelp for working class Americans and their families -WPA Works Progress Administration -Social Security Act old age pensions, unemployment, aid to families with children -Rural Electrification Administration
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NLRB Labor Relations -National Labor Relations Act---(Wagner Act) NLRB
right to unionize anti-union practices banned -Fair Labor Standards minimum wage, 40 hour week -Growth of AFL, CIO NLRB
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Court Packing -Several New Deal programs ruled unconstitutional AAA, NRA -Roosevelt proposed adding new justices -seen as a threat to checks and balances
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Court Packing -Several New Deal programs ruled unconstitutional AAA, NRA -Roosevelt proposed adding new justices -seen as a threat to checks and balances
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Women in the Depression
-Eleanor Roosevelt -several women named to high gov’t positions Francis Perkins Sec. Of Labor -working women faced resentment -women’s wages still lower than men -gov’t programs gave preferences to men
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Women in the Depression
-Eleanor Roosevelt -several women named to high gov’t positions Francis Perkins Sec. Of Labor -working women faced resentment -women’s wages still lower than men -gov’t programs gave preferences to men
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African Americans -Mary McLeod Bethune friend of Eleanor Roosevelt established “Black Cabinet” -Concert of Marian Anderson at the Lincoln Memorial -Roosevelt never fully committed to civil rights -African Americans came to support the Democratic Party
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Art and Literature -many artists displayed the reality of the Depression -Federal Arts Project (WPA) -Grant Wood American Gothic -Richard Wright Native Son -John Steinbeck Grapes of Wrath
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Art and Literature -many artists displayed the reality of the Depression -Federal Arts Project (WPA) -Grant Wood American Gothic -Richard Wright Native Son -John Steinbeck Grapes of Wrath
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Radio Entertains the Masses
-family entertainment -soap operas -Children’s Programs Green Hornet, Lone Ranger -Variety shows and plays Bob Hope, George Burns Orson Welles “War of the Worlds”
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Entertainment -Marx Brothers -Gangster films - Frank Capra, Jimmy Stewart ”Mr. Smith goes to Washington” ”It’s a wonderful Life”
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Motion Pictures -Gone with the Wind, 1939 -Wizard of Oz, 1939 -Snow White and Seven Dwarfs, 1937
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Motion Pictures -Gone with the Wind, 1939 -Wizard of Oz, 1939 -Snow White and Seven Dwarfs, 1937
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End of the New Deal -”I see 1/3 of a nation ill -housed, ill-clad, ill-nourished” -by 1937, some recovery -gov’t pulls back programs and depression returns -opposition grows to continued gov’t control -international affairs begin to take precedence
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End of the New Deal -”I see 1/3 of a nation ill -housed, ill-clad, ill-nourished” -by 1937, some recovery -gov’t pulls back programs and depression returns -opposition grows to continued gov’t control -international affairs begin to take precedence
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