1. We are closer to the end of poverty than at any point in our history

2. The Great Depression 1929-1945 Spark-Crash of The Stock Market-10/29/29 Underlying Causes- Mass Production-too many goods produced, not enough demand Credit-too many goods bought that people could not afford, including stocks, On Margin Investing-inexperienced people put too much of their $$ in the Stock Market-risky

3. Wall Street

5. Bull vs. Bear Market Market and Economy doing well Market and Economy doing poorly

6. Bank Runs

12. Okies

15. Riding The Rails

21. Hoovervilles

22. Hoover Blankets

24. Buy American Hoover signs the Hawley-Smoot Tariff Increasing Tariffs-Americans buy less foreign goods Foreign nations now had less $$ to pay back war debt to US.

25. Rugged Individualism

26. Hoover Dam 1931-1936 *Public Works

28. Bonus Army

36. A New Deal 1933-1945

40. The New Deal in Action - The 3 R’s Relief -Immediate help-$$ to the people Recovery -temporary jobs Reform -permanent programs- Soc. Sec. FDIC These programs would be paid by: *Deficit Spending- Government Spends more than it takes in FDR was seen as taking action! * People had a renewed confidence in government

41. FDR Gets To Work Right Away Declares a Bank Holiday, Closing ALL Banks for 4 Days Why? To Get $$$ to the banks!!

42. Alphabet Soup AAA, CCC, FDIC, SEC, SSA, PWA, TVA, WPA, Nickname given to all these programs

44. New Government Beauracricies are set up to assist people in need CCC – Gave public works jobs to young men FERA – Gave $ relief directly to unemployed AAA – Paid farmers NOT to grow certain crops PWA – built ports, schools, aircraft carriers FDIC – Insures deposits made to federal certified banks WPA – Employed people to bulid hospitals, schools, parks, airports Social Security Act – Insurance for elderly, unemployed, and disabled

47. FDR and The New Deal Help Labor Wagner Act- allowed workers to BARGAIN COLLECTIVELY for what they wanted. (Unions hire representatives to bargain a contract for all members) Fair Labor Standards Act- Created Minimum Wage, Maximum Hours..25 cents/44 hours a week originally. Currently $7.25/40 hours a week

48. Minimum Wages Green-higher, Blue-same, Yellow-None, Maroon-Lower

49. Court Packing

52. Eleanor Roosevelt – FDR’s eyes and ears

53. Why is FDR Elected 4x’s? Seen as using government to help Feared change during crisis-Dep./WW2 Confident attitude Support from new voters- – Labor – Women – Minorities

56. REVIEW – Causes of the Depression 1 – Weaknesses in the Overall Economy Overproduction/underconsumption of consumer goods and Farming products 2 – Unequal distribution of Income Not all social classes enjoyed boom of ’20s 3 – Excessive buying on Credit 4 – Weak Corporate/Banking structures Corruption, high-risk investments, lack of preparedness for recession 5 – Weak international Economy Europe dependent on U.S. economy after WWI

57. Differences between FDR and Hoover Roosevelt *Democrat *Willing to give direct relief to people - $ *Willing to allow Government to make economic decisions *Deficit Spending Hoover *Republican *Believed the Free-Market system would correct itself *Believed people should work through hard times (self- help/rugged individualism) *Believed Gov’t should not make economic decisions (laissez-faire)

58. The New Deal is a Major Turning Point in American Government! The government became more involved in the economy and people’s lives! The New Deal Does Not End the Great Depression! World War 2 Does!!

59. Wagner Act, Fair Labor Standards Act, SSA, FDIC, Creeping Socialism, Rugged Individualism, Court Packing, TVA, AAA, CCC, Bonus Army, Okies, Hoovervilles, Hoover Blankets, Dust Bowl, Deficit Spending, Brain Trust, Relief, Recovery, Reform, public works projects