Crash and Depressionchapter 32 & 33 review

Warm Up- Question

• Looking at the 1932 election results what can be inferred about President Hoover’s 1st term Presidential term?

• What factors caused the American public to feel this way?

The 1920’s In hindsight

• President Harding & Coolidge both favored business over labor

• Raised tariffs on exports (Hawley-Smoot Tariff) … caused?

• After WWI gov. no longer regulated prices of goods & businesses (Adkins v. Children's Hospital)

• New machinery for farmers = McCormick reaper = production of more goods

• Allies not able to pay war debts

• Trickle Down economics

Black Tuesday

• October 29, 1929- stock market crashes

• 40 billion dollars lost in 2 months

• Suicide rates jumped …“for Sleeping or jumping”

• 4 million workers lost jobs in one year

Hoover and the Depression

• Hoover provided the following

– state and local relief programs

– business maintaining wages and employment

– private volunteer efforts– emergency financing for

banks and railroads

Hoover and the Depression

“Bank Run”

Hoover and the Depression

• Bonus March summer of 1932– WW I veterans tried to pressure Congress to

pay them their retirement bonuses early.

The Annual MoveThe Annual Moveby Otis Dozier, 1936by Otis Dozier, 1936

The Annual MoveThe Annual Moveby Otis Dozier, 1936by Otis Dozier, 1936

Children & The Depression“if I leave my mother, it will mean one less mouth to feed”

• Poor diets

• Schools closed

• Hit the “tracks”

“We’d Like to Thank You Herbert Hoover”• Today we're living in a shanty

Today we're scrounding for a meal

[SOPHIE]Today I'm stealing coal for firesWho knew i could steal?

[MEN]I used to winter in the tropics

[WOMEN]I spent my summers at the shore

[FRED]I used to throw away the paper--

[ALL]We'd like to thank you: Herber HooverFor really showing us the way We'd like to thank you: Herbert Hoover You made us what we are today

Prosperity was 'round the corner The cozy cottage built for twoIn this blue heaven That youGave us Yes!

.

• We're turning blue! They offered us Al Smith and HooverWe paid attention and we choseNot only did we pay attention We paid through the nose

• In ev'ry pt he said "a chicken" But Herbert Hoover he forgot Not only don't we have the chicken We ain't got the pot! Hey Herbie

[WOMEN]You left behind a greatful nation

[ALL]So, Herb, our hats are off to youWe're up to here with admiration

[SOPHIE]Come down and have a little stew

[ALL]Come down and share some Christmas dinnerBe sure to bring the missus tooWe got no turkey for our stuffingWe'd like to thank you, Herbert Hoover For really showing us the way You dirty rat, you Bureaucrat, youMade us what we are todayCome and get it, Herb!

Age of FDR

• Era of Democrats

• Modern ideals of Democratic party form

• Shift in followers of political parties.

• Blacks leave the Republican party of Lincoln for the Democratic party of FDR

The New Deal• name FDR gave to his

new program to fight the Depression

• Step 1 BANKING HOLIDAY- banks shut down and subject to gov't inspection, allowed to open when "healthy"

• step 2 - stock market reform- Security Exchange Commission est. to police the NYSE buying on margin was regulated

• step 3 - FDR went off the GOLD STANDARD w/ more $ in circulation, wages and prices increased

The Hundred Days

• FRD and the 3 R’s- relief, recovery and reform.

• Min. wage requirements, old-age insurance, restrictions on child labor.

Alphabet Soup

• NATIONAL INDUSTRIAL RECOVERY ACT (NIRA) and NATIONAL RECOVERY ADMIN (NRA) were to fix problems between labor & business

• child labor banned, shortened work hours • business people challenged the NRA, claiming

it was communist• Social Security Act

»TENNESSEE VALLEY AUTHORITY – used to lower electrical rates fed. gov't. took ownership (nationalization v. privatization)

Agriculture Adjustment Administration (AAA)

• Set prices on farm products to that of 1909-1914• Paid growers if they REDUCED production• Produce and meat was wasted and “trashed” to

keep prices up….. Meanwhile Americans are staving

• 1936 supreme court rules unconstitutional use of taxes

• Soil Conservation Act 1936- encourages farmers to plant soil conserving crops

Construction of the Construction of the DamDam

by William Gropperby William Gropper

Construction of the Construction of the DamDam

by William Gropperby William Gropper

Dust Bowl

• 1933 drought hits the mid-west

• Made worse by barren farm land left over from WWI

• “Okies” and “Arkies”

• FDR 2nd Term in office• first objective: to reorganize

the Supreme Court - they block some New Deal legislation

• FDR wants # of judges changed from 9 15 (to "pack the court")

• more gov't involvement …. democracy?? Or socialism???

• New Deal helped in stimulating the U.S. economy

• New Deal saw expansion of U.S. gov't in :1) economy 2) social reform