1. HIST 202 - HESEN

2.  Black Thursday  October 24, 1929  Stock fells sharply  Black Tuesday  October 29, 1929  Stock market crashed

3.  Uneven distribution of income  Stock market speculation  Excessive use of credit  Overproduction of consumer goods

4.  Weak farm economy  High tariffs  Global economic problems

5.  Effects on Business  $104 billion to $54 billion in four years  Incomes declined 50%  20% of banks closed  25 million people unemployed (20-25%)

6.  “Rugged individualism”  Hawley-Smoot Tariff  1930  Set a higher tariff  Europeans raised tariffs on American goods  Debt moratorium  Placed hold on all foreign debts

7.  Federal Farm Board  Helped to stabilize farm prices  Farmers continued to over produce crops  Reconstruction Finance Corporation  Promise to aid businesses  Stabilize steel, oil, and RRs

8.  “Hoovervilles”  “Hoover Blankets”  “Hoover Flags”

9.  1932 – WWI veterans  Marched on Washington, DC  Wanted WWI bonuses - $500-$1000  Hoover wanted to give bonuses  Congress declined  Marchers protested

10. FDR Hoover

11.  FDR: The Man  Teddy – 5 th cousin  Grew up in Hyde Park, NY  Harvard/Columbia Law School  Married Eleanor  Stuck with polio at 39  Focus was on BIG GOVT.

12.  The Three Rs  Recovery  Relief  Reform  The Brains Trust  Rexford Tugwell  Adolph Berle  Raymond Moley

13.  Bank Holiday  Closed the banks  Ceased the run on banks  Allowed banks to hold cash  Fireside Chats – March 12, 1933  Repeal of Prohibition  1933  21 st Amendment

15.  Emergency Banking Relief Act  Gave relief to banks  Provided billions to banks to get back on feet again  Federal Deposit Insurance Corporation  Ensured money in the banks  Acted as an insurance policy up to $100,000

16.  Public Works Administration  Bridges, Road, Tunnels, Sewers  Civilian Conservation Corps  Put men 17-25 to work  Military style  Tennessee Valley Authority  Constructed hydro-electric dams in the Tennessee Valley

17.  Agricultural Adjustment Administration  Aided farmers with surplus  Plowed under every other row of crops

18.  Focused more on relief and reform  Works Progress Administration  National Labor Relations Act  Social Security Act

19.  Huey Long  Share Our Wealth  Father Charles Coughlin  New Deal is too radical  Dr. Francis Townsend  Look after the old folks  Supreme Court  New Deal unconstitutional

20.  FDR and the Supreme Court  Wanted to appoint Justices  Decided to add 1 Justice for each over 70.5 years old  Change from 9 Justices to 15  Harsh reaction

21.  Men, Women, Children  Dust Bowl