1. The Great Depression – The “Perfect Storm”
Causes of the Great Depression

2. Causes of the Great Depression

3. Causes of the Great Depression
Stock Market Crash

4. Causes of the Great Depression
Stock Market Crash
Overproduction in farm and factory- (End of the consumer durables revolution)

5. The Great Depression Causes of the Great Depression Stock Market Crash
Overproduction in farm and factory- (End of the consumer durables revolution)
Illness of the International Economy

6. The Great Depression Causes of the Great Depression Stock Market Crash
Overproduction in farm and factory- (End of the consumer durables revolution)
Illness of the International Economy
Income inequality

7. II. Consequences of the Great Depression

8. II. Consequences of the Great Depression
Int’l trade nearly disappeared

9. II. Consequences of the Great Depression
Int’l trade nearly disappeared
Credit tight, high interest rates

10. II. Consequences of the Great Depression
Int’l trade nearly disappeared
Credit tight, high interest rates
Tariff barriers

11. II. Consequences of the Great Depression
Int’l trade nearly disappeared
Credit tight, high interest rates
Tariff barriers
Deflation

12. II. Consequences of the Great Depression
Int’l trade nearly disappeared
Credit tight, high interest rates
Tariff barriers
Deflation
Investors & Consumers: lost confidence in “the system”

13. II. Consequences of the Great Depression
Int’l trade nearly disappeared
Credit tight, high interest rates
Tariff barriers
Deflation
Investors & Consumers: lost confidence in “the system”
Bank “runs”

14. Protecting a bank during the period of bank “runs” - 1931

15. II. Consequences of the Great Depression
Int’l trade nearly disappeared
Credit tight, high interest rates
Tariff barriers
Deflation
Investors & Consumers: lost confidence in “the system”
Bank “runs”
Collapse of investment

16. II. Consequences of the Great Depression
Int’l trade nearly disappeared
Credit tight, high interest rates
Tariff barriers
Deflation
Investors & Consumers: lost confidence in “the system”
Bank “runs”
Collapse of investment
Supply outstripped demand

17. II. Consequences of the Great Depression
Int’l trade nearly disappeared
Credit tight, high interest rates
Tariff barriers
Deflation
Investors & Consumers: lost confidence in “the system”
Bank “runs”
Collapse of investment
Supply outstripped demand
People Suffered

18. Unemployed men vying for jobs at the American Legion Employment Bureau in L.A.

19. Famous Dorothea Lange photographs –
“Migrant Mother”

21. II. Consequences of the Great Depression
Int’l trade nearly disappeared
Credit tight, high interest rates
Tariff barriers
Deflation
Investors & Consumers: lost confidence in “the system”
Bank “runs”
Collapse of investment
Supply outstripped demand
People Suffered
Diversions in a time of distress
– The Good & the Bad

22. Leisure during the Depression
Miniature Golf Craze

23. Leisure during the Depression
“Cinderella Man” – James Braddock

24. The Great Depression III. Politics of the ’20s & ’30s
A. Warren G. Harding elected in 1920
B. Calvin Coolidge – “Silent Cal”
C. Election of 1928
D. Herbert Hoover ( )

25. Warren Harding
Campaign poster
America’s present need is not heroics, but healing; not nostrums, but normalcy; not revolution, but restoration; not agitation, but adjustment; not surgery, but serenity; not the dramatic, but the dispassionate; not experiment, but equipoise; not submergence in internationality, but sustainment in triumphant nationality.
-- Warren Harding, “Return to Normalcy” speech, 1920

26. Teapot Dome Scandal

30. Herbert Hoover

31. Al Smith – 1928 Democratic nominee for President

32. Wall Street preying upon the common citizen

33. The Great Depression
IV. FDR
Personal Background
Election of 1932

34. Election of 1932 President Hoover Roosevelt Ticket
Republican (1st ballot)
Democrat (5th Ballot)

35. Election of 1932 President Hoover Roosevelt Ticket
Republican (1st ballot)
Democrat (5th Ballot)
Prohibition
Yes No

36. Election of 1932 President Hoover Roosevelt Ticket
Republican (1st ballot)
Democrat (5th Ballot)
Prohibition
Yes No
Business
Pro-business/less regulation by gov.
More involvement by gov.

37. Election of 1932 President Hoover Roosevelt Ticket
Republican (1st ballot)
Democrat (5th Ballot)
Prohibition
Yes No
Business
Pro-business/less regulation by gov.
More involvement by gov.
Attacks
Roosevelt was “experimental” & “risky”
Scolded Republicans for allowing speculation

38. Election of 1932 President Hoover Roosevelt Ticket
Republican (1st ballot)
Democrat (5th Ballot)
Prohibition
Yes No
Business
Pro-business/less regulation by gov.
More involvement by gov.
Attacks
Roosevelt was “experimental” & “risky”
Scolded Republicans for allowing speculation
Personality
Hoover was a president under siege: unlucky & unpopular
Eloquent, persuasive, confident

39. Election of 1932 President Hoover Roosevelt Ticket
Republican (1st ballot)
Democrat (5th Ballot)
Prohibition
Yes No
Business
Pro-business/less regulation by gov.
More involvement by gov.
Attacks
Roosevelt was “experimental” & “risky”
Scolded Republicans for allowing speculation
Personality
Hoover was a president under siege: unlucky & unpopular
Eloquent, persuasive, confident
Theme
Stand pat – rely on market forces
“New Deal” make a change

40. Election of 1932 Deciding Factor =THE GREAT DEPRESSION!
President
Hoover
Roosevelt
Ticket
Republican (1st ballot)
Democrat (5th Ballot)
Prohibition
Yes No
Business
Pro-business/less regulation by gov.
More involvement by gov.
Attacks
Roosevelt was “experimental” & “risky”
Scolded Republicans for allowing speculation
Personality
Hoover was a president under siege: unlucky & unpopular
Eloquent, persuasive, confident
Theme
Stand pat – rely on market forces
“New Deal” make a change
Deciding Factor =THE GREAT DEPRESSION!
Result: Electoral votes 472 to A LANDSLIDE VICTORY

41. How similar? How different?

42. The Great Depression IV. FDR Personal Background Election of 1932
New Deal – Hundred Days and Beyond
3 Rs: Relief/Recovery (& some Reform)– “Alphabet Soup”
Banking (Bank Holiday & Emer. Relief, Glass-Steagall Act)
Farming & industry (AAA, NIRA)
Government investment (HOLC, PWA)
Unemployment and poverty (FERA, WPA)
Financial sector (SEC, FDIC)
TVA
Conservative and Populist opposition

43. The Great Depression IV. FDR (cont’d) 2nd New Deal
BG: Reason; Inspiration; Priorities; Adding the 3rd “R”
Unions (Wagner Act, NLRB, AFL-CIO)
Social Security Act (1935)
Other Legislation (Utility Reform, Banking Act of 1935, REA)
The FDR Coalition

44. The Great Depression IV. FDR (cont’d) A New Political Landscape
Election of 1936
Extension of New Deal Programs
End of the New Deal
Legacy of the New Deal
Analysis
Results