The New Deal. The “Old Deal” 2 What? President Hoover’s reaction to the Great Depression...
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Transcript of The New Deal. The “Old Deal” 2 What? President Hoover’s reaction to the Great Depression...
![Page 1: The New Deal. The “Old Deal” 2 What? President Hoover’s reaction to the Great Depression President Herbert Hoover.](https://reader036.fdocuments.net/reader036/viewer/2022062314/56649ef55503460f94c08da1/html5/thumbnails/1.jpg)
The New Deal
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The “Old Deal”• 2
What?
•President Hoover’s reaction to the Great Depression
President Herbert Hoover
![Page 3: The New Deal. The “Old Deal” 2 What? President Hoover’s reaction to the Great Depression President Herbert Hoover.](https://reader036.fdocuments.net/reader036/viewer/2022062314/56649ef55503460f94c08da1/html5/thumbnails/3.jpg)
The “Old Deal”• 3
What did he want to do?
• Refused to create government programs until it was too late
• Let the business cycle take care of things
![Page 4: The New Deal. The “Old Deal” 2 What? President Hoover’s reaction to the Great Depression President Herbert Hoover.](https://reader036.fdocuments.net/reader036/viewer/2022062314/56649ef55503460f94c08da1/html5/thumbnails/4.jpg)
The Bonus Army 1932• 4
•25,000 WWI veterans
Who?
•Marched to Washington D.C. to get a $ bonus they were supposed to get in 1945
What?
![Page 5: The New Deal. The “Old Deal” 2 What? President Hoover’s reaction to the Great Depression President Herbert Hoover.](https://reader036.fdocuments.net/reader036/viewer/2022062314/56649ef55503460f94c08da1/html5/thumbnails/5.jpg)
The Bonus Army 1932• 5
•Called out the troops and dispersed the army
What did Hoover do?
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The Election of 1932• 6
• Roosevelt offers a “New Deal” for America• Roosevelt wins with 60% of the vote
What?
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Roosevelt’s New Deal• 7
What?
• Programs meant to help the country by getting the government involved in the economy
1. Relief - help people out in the short term
2. Recovery - get the economy back on its feet
3. Reform - keep this from everyhappening again
Meant to do 3 things
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Bank Holiday - First Step• 8
Why? • Many banks had failed, wiping out families’ savings
• People lost confidence in the banks
Depositors Congregate Outside Closed Bank
![Page 9: The New Deal. The “Old Deal” 2 What? President Hoover’s reaction to the Great Depression President Herbert Hoover.](https://reader036.fdocuments.net/reader036/viewer/2022062314/56649ef55503460f94c08da1/html5/thumbnails/9.jpg)
Next Step - “Alphabet Soup”• 9
•In the first 100 days of his administration Roosevelt passes tons of legislation. (First New Deal)
Hundred Days
• The agencies he creates (like AAA, CCC, TVA, FERA, FDIC)
Alphabet Soup
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Next Step - “Alphabet Soup”• 1
0
•Insurance for the $ you put in banks
FDIC - Federal Depositors Insurance Corp.
• Protected people’s savings
Bank Employee Checks Depositor's Account
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AGRUCULTURAL ADJUSTMENT ACT (AAA) - passed in 1933 to aid farmers.
AAA had farmers cut back on crop production by paying them equivalent SUBSIDIES (paid not to produce)
The bad side: 1) food production down when
millions were starving2) Black sharecroppers were hurt
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His Greatest Mistake• 1
2Packing the Supreme Court
What?
Why?
• Increase the # of Supreme Court justices from 9 to 15
•Kept declaring his programs unconstitutional (including NRA, AAA, SEC, etc.)
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The New Deal - Pros and Cons• 1
3Pros• Restored optimism and hope to Americans
Cons• Did not really fix the depression
• Left the nation with much debt
• Provided necessary relief to many
• Left people too dependent on government (?)