Great Depression Notes

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Great Depression Notes

  1. 1. THE GREAT DEPRESSION
  2. 2. Recession —a widespread downturn in the economic success of a nation
  3. 3. Depression —economic collapse in a national economic structure
  4. 4. National Structures —Federal, state, or local system of control in economics
  5. 5. = Growth in Stock Market
  6. 6. = Growth in Stock Market Faith in Prosperity
  7. 7. on MARGIN Investors bought stock
  8. 8. Investors bought stock on MARGIN & borrowed huge amounts of MONEY that they couldn’t repay
  9. 9. 1929
  10. 10. Stock Prices Crashed
  11. 11. Stock Prices Crashed Investors sold for LOW prices
  12. 12. Stock Prices Crashed Investors sold for LOW prices Banks tried to collect loans...
  13. 13. When they couldn’t... FAILED
  14. 14. Agricultural Recession (1920-21) What Caused the Crash?
  15. 15. Agricultural Recession (1920-21) What Caused the Crash? World War I Ended
  16. 16. DURING WAR Industry Banking Commerce
  17. 17. AFTER WAR Industry Banking Commerce
  18. 18. Agricultural Recession (1920-21) What Caused the Crash? World War I Ended Unbalanced Wealth Distribution
  19. 19. Elected 1928 Herbert Hoover
  20. 20. Elected 1928 Herbert Hoover Formerly Secretary of Commerce
  21. 21. Elected 1928 Herbert Hoover Formerly Secretary of Commerce Ask business to “step up” (Didn’t want government interference)
  22. 22. Elected 1928 Herbert Hoover Formerly Secretary of Commerce Ask business to “step up” (Didn’t want government interference) Government did increase spending
  23. 23. The “Bonus Army”
  24. 24. HOOVER VS. OBAMA
  25. 25. HOOVER Public Works GOVERNMENT SPENDING
  26. 26. OBAMA Public Works GOVERNMENT SPENDING
  27. 27. HOOVER Home Loans GOVERNMENT SPENDING
  28. 28. OBAMA Home Loans GOVERNMENT SPENDING
  29. 29. HOOVER Banking (RFC) GOVERNMENT SPENDING
  30. 30. OBAMA Banking GOVERNMENT SPENDING
  31. 31. HOOVER Hoover TAXES
  32. 32. OBAMA Obama TAXES
  33. 33. HOOVER Hoover DIRECT UNEMPLOYMENT
  34. 34. OBAMA Obama DIRECT UNEMPLOYMENT
  35. 35. CHANGE
  36. 36. New York Governor Roosevelt (FDR)
  37. 37. New York Governor Roosevelt (FDR) Successfully fought poverty
  38. 38. New York Governor Roosevelt (FDR) Successfully fought poverty Successfully fought unemployment
  39. 39. New York Governor Roosevelt (FDR) Successfully fought poverty Successfully fought unemployment REFORM!
  40. 40. FDR HOOVER 16 Mil 23 Mil
  41. 41. DEMOCRATS REPUBLICANS
  42. 43. 1. Relief for needy
  43. 44. 2. Economic Recovery
  44. 45. 3. Financial Reform
  45. 46. 100 DAYS
  46. 47. First 100 of FDR’s Presidency 100 DAYS
  47. 48. First 100 of FDR’s Presidency 100 DAYS “ The New Deal”
  48. 49. First 100 of FDR’s Presidency 100 DAYS “ The New Deal” Congress passed 15+ pieces
  49. 50. FEDERAL GOVERNMENT Nation’s Finances
  50. 51. Declared “Bank Holiday” FDR & New-found Power
  51. 52. Declared “Bank Holiday” FDR & New-found Power Gave Treasury Department legal authority to close/reopen banks
  52. 53. Declared “Bank Holiday” FDR & New-found Power Held execs accountable Gave Treasury Department legal authority to close/reopen banks
  53. 54. Declared “Bank Holiday” FDR & New-found Power Held execs accountable Established FDIC Gave Treasury Department legal authority to close/reopen banks
  54. 55. Amendment 21
  55. 56. Raised revenue through taxes Amendment 21
  56. 57. Raised revenue through taxes Hurting Society + Legal Booze=$ Amendment 21
  57. 58. Father Charles Coughlin Distrustful of Banking
  58. 59. Dr. Francis Townsend Massive Government Support for the Elderly
  59. 60. Senator Huey LONG “ Share our Wealth”
  60. 61. THE WAGNER ACT
  61. 62. Workers could join Unions
  62. 63. Workers could join Unions Prohibited threatening workers
  63. 64. Workers could join Unions Prohibited threatening workers Prohibited firing Union members
  64. 65. Workers could join Unions Prohibited threatening workers Prohibited firing Union members Set up a board for testimony
  65. 66. Workers could join Unions Prohibited threatening workers Prohibited firing Union members Prohibited interfering with Union organizing Set up a board for testimony
  66. 67. THE FAIR LABOR STANDARDS ACT
  67. 68. 40 Hour Week Minimum Wage Safety Rules Union Growth
  68. 69. Union Membership 1934-1937
  69. 70. SIT-DOWN STRIKES

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