The Response to the Economic Collapse
The Response to the Economic CollapsePutting the Depression in
PerspectiveAgenda 04/16/2012Notebooks BackIntro and Bell
WorkGraphing the Economic CollapseHoover and FDR Respond to the
CollapseChapter 31 Notes (Conservatives, Liberals, and
Radicals)Remember! 1920s and Depression Quiz 4/24Bell Work! Did you
miss it?What obligation does the United States government have to
ensure that all Americans are fed? That all Americans have jobs?
That all Americans have a secure retirement?
Why do you think the government should or should not take on the
onus of ensuring that all Americans have these necessities?
Graphing the Economic Collapse: Understanding Causes an EffectsTo
put the Great Depression in perspective, we will graph 6 sets of
economic data. By considering the data we will be able to develop a
sophisticated understanding of what caused the economic collapse
and what its effects were.We will look at:Average stock prices
Gross National Product (GNP)-The total dollar value of all goods
and services produced by American firmsUnemployment Average annual
salaries of workersBusiness failuresBank closuresOnce you have
graphed the data, you will be given a set of questions to consider
using your graphs.The graphs and question responses will be turned
in at the end of class.
35 minutes4Responding to the CollapseConservatives, Liberals,
and Radicals oh my!10 minutes5Hoovers Conservative Response to Hard
TimesHoover was believer in self-reliance, rugged individualism,
and hard work. His administration would formulate economic policy
around those attributes.He did not believe that it was the job of
the government to provide aid to the needy. He felt government
handouts would make Americans dependent on the government.Instead
of government aid, Hoover encouraged private charity.Hoover
believed the economy was essentially sound and could be guided back
into prosperity.Voluntary cooperation, trickle-down policies, and
the Reconstruction Finance Corporation (RFC)
RFC issued government loans to banks, railroads, and other big
businesses in hopes of stimulating the economy-eventually the RFC
would be authorized to give loans to states to support the needy
and fund public works projects6FDR Calls for a New Deal for the
American PeopleFDRs charisma and confidence convinced the public
that he was the man that could turn the economic crisis around.FDR
promised a New Deal for the American people. He promised to try
anything and everything he could to turn the tide.The New Deal
focused on 3 Rs: Relief, Recovery, and Reform.In his first 100 days
as president, FDR would usher in sweeping changes that would set
the bar for all presidents that followed.
The Three RsWe will look at FDRs administration in more detail
on Friday. But, some examples of his first 100 days are:
Relief: aimed at helping the unemployed, Congress created the
Civilian Conservation Corps (CCC) to put young men to
work.Recovery: aimed at reducing the downward slide of the economy,
the Agricultural Adjustment Act (AAA) tried to make farming
profitable again by reducing overproduction and raising crop
prices.Reform: focusing primarily on the financial sector, measures
like the Truth-in-Securities Act required companies issuing stock
to provide full and accurate information to investors.FDRs First
Inaugural Address 1933
This great Nation will endure as it has endured, will revive and
will prosper. So, first of all, let me assert my firm belief that
the only thing we have to fear is fear itselfnameless, unreasoning,
unjustified terror which paralyzes needed efforts to convert
retreat into advance.Ch. 31 Notes: Responding to CrisisSay that
civilization is a tree which, as it grows, continually produces rot
and dead wood. The radical says: cut it down. The conservative
says: dont touch it. The liberal compromises: lets prune, so that
we lose neither the old trunk nor the new branches. FDR 1932
Campaign Speech
Read sections 31.1 and 31.2. After reading the sections write a
two sentence description that summarizes each ideology: radical,
conservative, and liberal. Then answer the following question:Which
ideology do you think would be the most effective in addressing the
economic collapse of the Great Depression? Why?
10 minutes10Chapter 31 Sections 3 & 4Read sections 31.3 and
31.4 and construct a T-Chart like the one below:
As you read Sections 31.3 and 31.4, list actions taken by Hoover
and Roosevelt to address the nations economic problems. Briefly
describe how each action was meant to help the nation economically.
Then label each action with a C if you think it was a more
conservative action or an L if you think it was a more liberal
action.
Hoovers ActionsRoosevelts Actions15 minutes11You have learned
that the Great Depression severely limited economic opportunities
for most Americans. Both President Hoover and, later, President
Roosevelt tried to promote economic opportunities by taking a
variety of actions based on their own political ideologies.
Read the following quotations by these two presidents:
Using these quotations and information from your reading, write
two or three paragraphs in which you evaluate the extent to which
each president succeeded in advancing economic opportunities for
all Americans. Each paragraph should use evidence to support your
position
Economic depression can not be cured by legislative action or
executive pronouncement.
The basis of successful relief in national distress is to
mobilize and organize the infinite number of agencies of self help
in the community. That has been theAmerican way. Herbert HooverThis
nation asks for action, and action now.
Not only our future economic soundness but the very soundness of
our democratic institutions depends on the determination of our
government to give employment to idle men. FDR
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