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Great Depression

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  • this is excellent! Hope you don't mind if I share with students in Maine!
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  • Add in the Austrian School of Economics explanations:

    http://blog.mises.org/10805/how-the-depression-of-1920-was-conquered

    http://mises.org/Community/forums/p/19823/375659.aspx#375659

    http://www.lewrockwell.com/rothbard/business-cycle.html
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  • top notch stuff - have just done this in class and its really helped it to sink in!
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Transcript

  • 1. The Great Depression NEW DEAL
  • 2. Contents
    • Election of 1928, 1932, 1936
    • Flow charts of causes and reversing spiral of Great Depression
    • Graphs of stock market and unemployment in the 1930s
    • Dust Bowl
    • Election of 1932 and links to FDR inaugural address
    • New Deal Programs
    • Fireside Chats (link to audio of 1 st fireside chat)
    • Critics of FDR
    • Social Security
    • Movies, radio and the arts of the 1930s
  • 3.
    • (R) Herbert Hoover
      • Food Administration WWI
      • Secretary of Commerce
    • (D) Al Smith (corner)
      • Governor of New York
      • 1 st Irish Catholic to run for White House
    • Advantage?
      • Republican prosperity in the 1920s ensure easy victory for Hoover
    The Election of 1928
  • 4.  
  • 5. Causes of the Depression Fewer goods are sold . Demand drops. In order to stay in business companies cut wages People lose their confidence & start saving their money Demand drops even further. Companies are forced to cut costs by laying people off The Spiral Of Depression Even more people Lose their confidence And spend less money People lose their jobs.
  • 6. Stock Market Crash of 1929
    • The Dow Jones Industrial Average plummeted on October 29, 1929.
    • $14 billion was lost in one day.
    • Stock Market will not recover for decades.
    • Unofficial start of the Great Depression.
  • 7.  
  • 8.  
  • 9. Great Depression in the Cities
    • In cities across the country people:
      • lost their jobs
      • Were evicted from their houses
      • Ended up living on the street.
    • Shantytowns, soup kitchens and bread lines appeared
  • 10.  
  • 11.  
  • 12. People waiting in line for bread and soup and also living out of their car.
  • 13.
    • Farmers in the Midwest had over farmed the soil.
    • Drought conditions led to 100 of acres of soil being “blown away.”
    • These ‘black blizzards’ lasted from 1933 to 1939 .
    The Dust Bowl
  • 14.  
  • 15.  
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  • 20.  
  • 21.  
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  • 25.
    • WW I vets marched on Washington DC.
    • Demanded the bonus that was due in 1945 be paid presently.
    The Bonus Army
  • 26. Bonus Army in DC…
    • Congress refused their demands.
    • Gen. MacArthur broke up the marchers and had their shanty town burned to the ground.
    • Public relations disaster for President Hoover.
  • 27. The Election of 1932 Hoover FDR
  • 28. What were we thinking?
  • 29. Key Quotes: FDR’s Inauguration Speech This Nation asks for action, and action now. Our greatest primary task is to put people to work. I shall ask Congress for broad executive power to wage was against the emergency.
    • Link to:
      • Text of Speech
      • Video
  • 30.
    • Series of radio addresses by FDR
    • 30 total between 1933 to 1944
    • FDR used these to calm American people down.
    • CLICK on the radio to link to hear the 1 st chat on the Bank Crisis
    Fireside Chats
  • 31. FDR and the New Deal
    • During the presidential campaign of 1932, FDR promised Americans a NEW DEAL.
    • This would be his program to get America back on its feet.
  • 32.
    • Relief
      • Help people right away
    • Recovery
      • Get the US out of the Depression
    • Reform
      • Make sure another depression does not happen
    Goals of New Deal Program
  • 33. New Deal : Relief
    • Federal Emergency Relief Association (FERA)
    • Civil Works Administration (CWA)
    • Public Works Administration (PWA)
    • Civilian Conservation Corps (CCC)
    • Farm Credit Association (FCA)
    • Homeowners Loan Corporation (HOLC)
  • 34. New Deal : Recovery
    • Works Progress Administration (WPA)
    • National Recovery Administration (NRA)
    • Agricultural Adjustment Act (AAA)
    • National Youth Administration (NYA)
    • Federal Housing Act (FHA)
  • 35. New Deal : Reform
    • Federal Deposit Insurance Company (FDIC)
    • Securities and Exchange Commission (SEC)
    • Wagner Act (NLRB)
    • Tennessee Valley Authority (TVA)
    • Social Security
  • 36. Reversing the Spiral of Depression Cycle of Prosperity! Democrats called this Process ‘ Pump Priming’ Government Spending $ Alphabet Agencies More Jobs More Spending Demand for goods increases More goods have to be produced More people with Jobs = more pay $ More Spending Demand for goods increases More goods have to be produced More Jobs More Pay = More Taxes
  • 37. FDR and the Supreme Court
  • 38. Court Packing….
    • The Supreme Court struck down several New Deal laws as unconstitutional.
    • FDR wanted to increase the size of the court from 9 to 15.
      • Would appoint justices who were pro-New Deal
    • Congress did not agree with FDR.
    • This hurt FDR’s image.
  • 39. Huey Long
    • FDR was NOT doing enough for the poor .
    • Long pushed his “ Share Our Wealth ” program.
    • Take all income over $1,000,000 to give:
      • House
      • Car
      • Annual Salary
      • For all Americans
  • 40. Dr. Francis Townshend
    • FDR was NOT doing enough for old people .
    • Proposed a $200 a month pension to everyone over 60.
    • This was good for (2) reasons:
      • $$ to boost economy
      • Open a job up for a younger American
  • 41. Charles Coughlin
    • FDR had NOT done enough….
    • Fr. Coughlin felt that FDR did not take on the powerful bankers in the United States.
    • Used the radio to blast FDR and became known as the “ Radio Priest”.
  • 42. Liberty League
    • FDR had gone TO FAR with the New Deal.
    • Interfering with business and people’s lives.
    • Government was taking away freedoms from Americans.
  • 43. Social Security Act of 1935
  • 44. How is Social Security funded? Social Security Trust Fund Workers Employers
  • 45. Social Security Unemployment Insurance Old Age Pension Dependent Families + Disabled
  • 46. Election of 1936
  • 47. Movies
  • 48.
    • October 30, 1938
    • Orson Wells performed HG Wells classic over the radio.
      • Made Wells famous
    • Caused a panic because people thought Martians were invading
      • Link to listen to the radio broadcast.
  • 49.
    • Famous painting entitled “American Gothic”.
    • Best known for his paintings depicting the rural American Midwest.
    Grant Wood
  • 50.
    • Folk singer during the Depression
    • His personal and musical styles were deeply influenced by his childhood in rural Oklahoma during the Great Depression years.
    • This Land is Your Land – famous song
    • CLICK HERE to listen to song on YouTube
    Woody Guthrie
  • 51.
    • Classical novel written by John Steinbeck in 1939.
    • Focuses on a poor family of sharecroppers :
      • Driven from their home by the drought
      • They head to California looking for a better life
    The Grapes of Wrath
  • 52. What will end the Great Depression?
    • America’s entry into World War II