1. Start of the Great Depression I.Gov. Ross Sterling: “Hot Oil” & the “Cotton Holiday” II.Gov. Miriam A. Ferguson, Part II

2. Ross Sterling Wealthy TX oil man Ran for Gov. in 1930 Defeated Ma Ferguson Soon inherited the Great Depression

3. East Texas Oil Boom Resulted from “wildcatting” efforts of Columbus “Dad” Joiner Massive field discovered near Kilgore – 5 counties wide Massive rush led to prosperity in one of the state’s poorest areas

4. Ross Sterling & “Hot Oil” Massive production led to 95% drop in crude oil prices Sterling OK’d efforts sought by large oil cos. to limit production TX RR Commission sought to set quotas

5. Ross Sterling & “Hot Oil” Many small producers ignored the quotas Continued to produce illegal “hot oil” Sterling declared martial law to enforce the quotas Very unpopular in East TX base of the Fergusons

6. Huey Long’s “Cotton Holiday Plan” Sought by LA Gov. If no cotton raised in 1932, prices should rise greatly in 1931 Only to take effect if 75%+ of South’s cotton acreage pledged to be taken out of prod.

7. Huey Long’s “Cotton Holiday Plan” Ball placed in Texas’s court, since TX produced over 1/3 of US cotton No TX approval = no holiday Sterling & the Legis. vs. the plan (rejected) Sterling’s popularity sinks w/ many cotton farmers

8. Miriam A. “Ma” Ferguson Took advantage of discontent w/ the Depression (& Sterling) Won 1932 Dem. Party runoff vs. Sterling; also won general election Supported the “New Deal” Accused of favoritism w/ gov’t relief $$ & jobs

9. Franklin D. Roosevelt & the “New Deal”