THE GREAT DEPRESSION. What were the warning signs of the Great Depression? Railroads, textiles, and...
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THE GREAT DEPRESSION
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What were the warning signs of the Great Depression?
• Railroads, textiles, and steel were barely making a profit.
• Farmers faced problems.• Consumers buying on
credit.• Uneven income
distribution.• Stock Market-
speculation and buying on margin
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What was Black Tuesday?
• October 29, 1929- Lose of 16.4 million dollars.
• Stock Market Crash• People who bought
stocks on credit were stuck with huge debts as prices dipped and others lost most of their savings.
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What was the Great Depression?
• Period from 1929-1940, economy went down and unemployment rose dramatically.
• Goods and service cut in half.
• At height, 25% unemployment.
• Led to worldwide depression.
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What was the Hawley-Smoot Tariff (1930)?
• Highest protective tariff in U.S. history.
• Designed to protect farmers and manufacturers.
• Had opposite effect and reduced trade with other countries.
• Other countries raised their own tariffs and hurt American economy.
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How were average people’s lives affected by the Depression?
• Lost jobs, homes, and life savings.
• Shantytowns- little towns that were shacks.
• Soup kitchens- offering free or low cost food
• Bread lines- charities giving away food.
• Conditions for minority groups were worse because of job competition and discrimination.
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What was the Depression like for farmers?
• Some farmers could still be self-sufficient and live off the land.
• Many farmers lost their land because they could not pay the mortgage.
• Dust Bowl- Severe drought from Kansas, Oklahoma, Texas, Nebraska forced many to move West.
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How were American families affected?
Hoboes- men that wandered the country hitching rides on trains and sleeping under bridges
• Women- starving and struggling to keep the family together.
• Children- health problems, poor schools, worried if they would survive.
• Many were ashamed of poverty and blamed themselves for not succeeding.
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What was Herbert Hoover’s philosophy?
• Opposed direct relief to the needy.
• Believed in voluntarism which was encouraging businesses to find solutions.
• Worked horribly in fighting the Depression.
• Hoover was heavily criticized and run out of office.
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What was the Boulder Dam?
• Provided electricity and flood control
• Regular water supply• Success of Herbert
Hoover
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What was the Federal Home Loan Bank Act?
• Passed by Herbert Hoover in 1932.
• Lowered mortgages for homeowners and allowed farmers to refinance their farm loans.
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What was the Reconstruction Finance Corporation?
• Authorized $2 billion for emergency financing in 1932.
• Trickle Down Economics theory
• Example of too little too late for government help.
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What was the Bonus Army?
• 1932- WWI veterans demanded bonus that was due in 1945 early.
• Hoover called in the troops to put down their demonstration.
• Disaster for Hoover.
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Who was Franklin Delano Roosevelt?
• Elected for 4 Presidential terms (1932-1945)
• New Deal
• “The only thing we have to fear is fear itself.”
• Led America thru the Great Depression and World War II.
• Optimism
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What was the New Deal?
• Franklin D. Roosevelt’s plan to get America out of the Depression.
• 3 parts- Relief, Recovery, Reform
• Fireside chats- FDR’s radio addresses about the New Deal.
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What was the Glass-Steagall Act?
• Passed in 1933.• Created the Federal
Deposit Insurance Corporation.
• Protected money in the banks.
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What was the Federal Securities Act?
• Passed in 1933.• Required corporations
to give company and stock information.
• Created the Securities and Exchange Commission.
• Regulates stock market.
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What was the Agricultural Adjustment Act?
• AAA- raised crop prices by lowering farm production.
• Criticized for slaughtered animals.
• Did help farmers.• Eventually, found to
be unconstitutional.
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What was the Tennessee Valley Authority?
• TVA- Renovated dams, created thousands of jobs, provided flood control, hydroelectric power to impoverished areas.
• Still exists today
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What was the Civilian Conservation Corps?
• Passed in 1933.• Young men ages 18-
25 work on building roads, developing parks, planting trees, helping soil-erosion and flood control projects.
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What was the National Industrial Recovery Act (NIRA)?
• Passed in 1933.
• Provided money to states to create jobs in construction of schools and other community buildings.
• Created NRA which set prices and established standards.
• Found unconstitutional.
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What was the Civil Works Administration?
• Provided 4 million immediate jobs in the winter of 1933-34.
• Built 40,000 schools and paid 50,000 school teachers.
• Built more than ½ million miles of roads.
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What organizations were created to give food, clothing, and
shelter?• Home Owners Loan
Corporation• Federal Housing
Authority (FHA)• Federal Emergency
Relief Act
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What were the criticisms of the New Deal?
• Deficit spending- spending more money than you have
• Father Charles Coughlin- wanted a guarantee of annual income, controversial
• Dr. Francis Townsend- Wanted a plan for the elderly
• Huey Long- Share Our Wealth Club, “Every Man is King”, ruthless
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Father Charles Coughlin
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Dr. Francis Townsend
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Huey Long
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Who was Eleanor Roosevelt?
• Wife of FDR and First Lady
• Great support and social reformer
• Supporter of equal rights for women and minorities.
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What was the Works Progress Administration?
• Part of Second New Deal
• Headed by Harry Hopkins
• Created jobs to build airports, roads, public buildings, murals, write slave narratives, and perform theater.
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What was the National Youth Administration?
• Part of Second New Deal
• Created jobs, education, counseling, and recreation for young people.
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What was the Wagner Act?
• Federal government protected the rights of workers to join unions.
• National Labor Relations Board- heard about unfair business practices.
• Fair Labor Standards Act- Set maxim,um work hours to 44 hours per week. Banned hazardous work for those under 18.
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What was the Social Security Act?
• Part of the Second New Deal.
• Gave old age insurance for retirees over 65 and their spouses.
• Unemployment compensation.
• Aid to families with dependent children and disabled.
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Who was Frances Perkins?
• FDR’s Secretary of Labor
• First female in a Presidential cabinet.
• 82% surveyed in 1936 said women should stay home.
• Women faced discrimination at work.
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How did the Depression affect African Americans?
• A. Philip Randolph- organized Sleeping Car Porters to fight for rights.
• Mary McLeod Bethune- hired by FDR in NYA. Helped provide opportunities for minorities.
• Marian Anderson- performs at Lincoln Memorial
• FDR made small steps, but did not commit to civil rights
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Who was John Collier?
• Created Indian Reorganization Act of 1934.
• American Indian lands would belong to their tribe.
• Reservation schools• Tribes could run their
own reservations.
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What were the major movies of the Depression Era?
• Gone With the Wind• Wizard Of Oz• Snow White• Marx Brothers Films• Mr. Smith Goes to
Washington• Actors James Cagney
and Clark Gable
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Marx Brothers
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Mr. Smith Goes to Washington
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What was popular on the radio?
• Radio shows• Orson Welles and War
of the Worlds• Lone Ranger• Jack Benny• Bob Hope• Burns and Allen Show• News
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Who were the famous artists of the Depression?
• Diego Rivera• Edward Hopper• Grant Wood• Thomas Hart Benton• Singers Woody Guthrie
(This Land Is Your Land)• Writers Richard Wright
(Native Son)• John Steinbeck’s Grapes
of Wrath
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Diego Rivera
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Edward Hopper
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Grant Wood (American Gothic)
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Thomas Hart Benton
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What is the impact of the New Deal?
• Government has a responsibility to help people.
• Some fear the increase in the size of government.
• Others are happy the government has safety nets for the people.
• Legacy of Social Security, TVA, SEC, and NLRB in today’s world.