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APUSH Lecture Ch. 23-24

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APUSH Lecture Ch. 23-24

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APUSH Lecture Ch. 23-24

  1. 1. Herbert Hoover and the Great Depression
  2. 2. Reviewing the “Crash” • Buying on the Margin - purchasing an asset (ex. stock) with only a down payment and =inancing the rest of the purchase with a loan that uses the asset as collateral. • When purchasing stock from a broker(seller) with a down payment, the remainder of the stock is still possessed by the broker as a form of collateral until the full payment is made.
  3. 3. Reviewing the “Crash” • 1928 - American stock market was soaring with peak levels of trading. • March 1929 - Hoover enters the presidency as one of the most popular presidents in recent history. • Oct 29, 1929 - Black Tuesday - uncertain stock speculation leads to 16 million shares being dumped ($30 billion)
  4. 4. Hoover “the Great Engineer” • Background: • Successful, self-made millionaire by 40 • Quaker upbringing - industrious, independent, humanitarian. • Spent his youth in the mining industry and as a result, supported labor unions and mining regulations. • During the Great War, he voluntarily organized international relief efforts saving millions of lives in Europe. “the Great Humanitarian”
  5. 5. Hoover =ights the Great Depression • Hoover believed in the moral compass of the people. He felt businesses would willingly help their workers. “Volunteerism” or voluntary cooperation • He also felt that the government should limit its involvement with regards to the individual. “Rugged Individualism” • Agricultural Marketing Act - June, 1929 - prior to the “crash” Hoover attempted to =ix a decade long agricultural slump.
  6. 6. Hoover =ights the Great Depression • Hoover was adamant that it was not the government’s role to substitute for voluntary cooperation. • Nov. 1929 - summons leaders in American industry to develop a plan going forward. • Federal Reserve System in Dec. 1929 - eased credit in an effort to continue business growth. • Embarked on a major construction program including the Boulder Dam (later renamed Hoover Dam) - private industry driven
  7. 7. Hoover =ights the Great Depression • Hawley-Smoot Tariff - 1930: tariff established the highest protection on American businesses of 60% import tax • Intended to increase revenue and protect American industry • Asked by leading economists to veto the legislation but Hoover does nothing.
  8. 8. Hoover =ights the Great Depression • Federal Home Loan Bank Act - set aside money to bail out and protect the mortgage industry. • Reconstruction Finance Corporation - 1.5 billion set aside. Given primarily to large businesses as emergency loans. • Taxpayer funded • “Great Scrooge?”
  9. 9. The Bonus Army • Summer of 1932 - WWI veterans wanted Congress to move up the payment of their war bonus from 1945 to 1932. • 20,000 veterans assembled on the capital. • Hoover, upset by their presence and the inability of police to handle the situation, ordered the US Army to take care of things. Gen. Douglas MacArthur
  10. 10. “thank God we still have a government that knows how to deal with a mob” - Hoover
  11. 11. FDR and the New Deal 1932-1936
  12. 12. Election of 1932
  13. 13. Election of 1932 • FDR brought optimism - • Campaign song “happy days are here again” • Sold people on change and a better future. • Hoover was perceived as cold and uncaring. • he stayed at the White House to deal with the economy • “The Worst is Past Us” • Hoover’s failure ends the “party of Lincoln”
  14. 14. Election of 1932 • Easy victory for FDR • Enters of=ice with no speci=ic plan to =ix the economy but promises change and a “new deal” between government and the public. • 2/3 of senate and 3/4 of the house were democrats - giving FDR unprecedented control
  15. 15. FDR’s First Inaugural Address, 1933 I am certain that my fellow Americans expect that on my induction into the Presidency I will address them with a candor and a decision which the present situation of our people impel. This is preeminently the time to speak the truth, the whole truth, frankly and boldly. Nor need we shrink from honestly facing conditions in our country today. 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 itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory. I am convinced that you will again give that support to leadership in these critical days.
  16. 16. Launching the New Deal • FDR’s =irst task upon taking of=ice was to stem public panic over the failed banking system • “restore con=idence” • “bank holiday” - closes all banks for 4+ days until the Emergency Banking Act can be passed. • Economy Act looked to balance budgets through governmental budget cuts and pension reform for the Army • Legalized the manufacturing of low alcohol beer - will lead to 21st Amendment repealing all prohibition.
  17. 17. Launching the New Deal • FDR used his upbeat and optimistic personality to lift up the American people in the beginning of the Great Depression. • used “Fireside Chats” and informal press conferences as a means to connect and uplift the average American.
  18. 18. FDR acts quickly •The First Hundred Days - From March to June 1933 •15 pieces of legislation were passed •Federal Government drastically increases •Economy Act - balanced the budget by cutting government salaries and military pensions. • 1933 Glass-Steagall Banking Act - established Federal Deposit Insurance Corp. • 1933, Agricultural Adjustment Act (AAA) - allowed leading farmers in respective industry to regulate farm production with government assistance. • In addition, FDR pushed for “rural electri=ication” • 1934 - Securities and Exchange Commission - disclosure of stock exchanges.
  19. 19. Tennessee Valley Authority 1933, a public works program set up to build a series of dams for power in the Tennessee Valley.Created 200,000 jobs
  20. 20. The New Deal under attack • FDR’s New Deal plan while popular with the American public was viewed by political opponents as a dangerous expansion of governmental power. • Three major critics (beyond Republican congress members) • American Liberty League • Townsend Plan • Share-Our- Wealth Society
  21. 21. Three Fiery Critics 1. Charles Coughlin - •Conservative Catholic priest. •used his weekly radio show “Golden Hour of the Little Flower” to reach 40 million listeners •anti-communist, anti-capitalist, anti-semitic •viewed FDR’s administration as wasteful and too slow
  22. 22. Three Fiery Critics 2. Dr. Francis Townsend - from LBC •“Youth for work, Age for Leisure” •$200 pension per month for people over 60 funded by income tax. •Money had to be spent that month to stimulate the economy Plan leads to Social Security Pension under FDR
  23. 23. Three Fiery Critics 3. Huey Long - •most powerful New Deal critic •slogan was “Every man a king, but no one wears a crown” •pushed for a redistribution of wealth to the poor •$5000 homestead credit allowance to all American families •$2500 guaranteed annual income for all Americans •Free college education
  24. 24. Three Fiery Critics 3. Huey Long •By 1935 Long’s Share-Our- Wealth clubs had 7 million members •September 1935 assassinated by former political opponents son-in-law
  25. 25. Supreme Court battles • FDR’s greatest resistance came from the nation’s judicial system which ruled several programs (AAA, NRA and attempts at TVA) • “Court Packing” FDR proposed a plan to appoint a new judge for every judge over 70 years old. The idea was to boost ef=iciency of the legal system.
  26. 26. The Second New Deal • By 1935, FDR was looking to build upon the 100 days programs. • National Labor Relations Board • Industrial Unionism • Federal Welfare • Social Security and unemployment insurance • Theory of Keynesian Economics - John Maynard Keynes
  27. 27. The Second New Deal • Soil Conservation and Domestic Allotment Act - paid farmers to stop producing soil depleting crops. • $1 billion dollars was loaned out to tenant farmers to purchase their land. Ownership was viewed as a pathway to stability.
  28. 28. The Second New Deal • Works Progress Administration - heavily invested in job creation. • From 1935 to 1943 provided work for 8 million people. • WPA developed over 850 airports; 651,000 miles of roadway; and 125,000 public buildings. • WPA also paid artists, photographers, and musicians to continue to work. Victor Arnautoff's “City Life"
  29. 29. Maxine Albro “Agriculture in California”
  30. 30. “Migrant Mother” 1936 Why do you think this image was so influential in gaining support for FDR’s programs? Dorothea Lange Photos
  31. 31. Thomas Hart Benton “America Today”
  32. 32. The Second New Deal • Wagner Act - reestablished the power of unions to bargain with management. • Helps establish Fair Labor Standards Act • Fair Labor Standards Act • Est. a minimum wage (25 cents in 1938) • Max. hours per week at 40 • Restricted employment below 16
  33. 33. Social Security Act, 1935 •The most lasting and influential of the 2nd New Deal Programs. •Provided insurance for retirees 65 and up - Social Security •Unemployment compensation - for workers who could not find work. •Aid to families with dependent children and the disabled.
  34. 34. Limits and Legacies of the New Deal • New Expectations of the Government • Government is expected to provide the citizen with help in times of need/crisis • Idea of a “Broker State” • Programs still in existence today: • SEC, FDIC, TVA, Social Security, Fed. Housing Administration. Fair Labor Standards Act, implements a minimum wage, and Wagner Act strengthens unions.
  35. 35. Limits and Legacies of the New Deal • The New Deal and Minorities • Blacks, asian and hispanic populations see existing prejudices reinforced. Minorities and immigrants are blamed for lack of work. Weakened assimilation and encouraged ethnic communities. • The New Deal in the West and the South • Failure to challenge Jim Crow • Legacy in the West • The New Deal and the Economy • Failure to achieve recovery • Federal Welfare State established
  36. 36. 1934-1937 • Ranchers and farmers in the nineteenth and early twentieth centuries, aggressively exploited the land and set up the region for ecological disaster. • The drought is the worst ever in U.S. history, covering more than 75 percent of the country and affecting 27 states severely. • Emergency Relief Appropriation Act, which provides $525 million for drought relief, and authorizes creation of the Works Progress Administration, which would employ 8.5 million people • By 1940, more than 2.5 million people had fled from the regions affected by the Dust Bowl. Nearly 10 percent moved to California • The drought and erosion of the Dust Bowl affected 100,000,000 acres
  37. 37. 1 9 3 0 s C u l t u r e
  38. 38. Culture •Steinbeck - The Grapes of Wrath He was seen by some as socialist for his sympathetic portrayal of the poor and impoverished. •Empire State Building is constructed in 1931 •Lou Gehrig and Joe DiMaggio were national icons throughout the 1930s •Seabiscuit - working class hero of 1930s •1935 Parker Brothers releases Monopoly •1937 Amelia Earhart goes missing after attempting to fly across the world
  39. 39. Culture •Theodore Geisel (Dr. Suess) •Dale Carnegie - How to Win Friends and Influence People was top selling book of 1936 •Swing music was popular •“It don’t mean a thing (if it ain’t got that swing)” •Duke Ellington, Benny Goodman, Glenn Miller and George Gershwin
  40. 40. Culture •“Brother, Can You Spare a Dime” •“The Star Spangled Banner” 1931 and “God Bless America” 1938 •Mount Rushmore completed by Gutzon Borglum •Grant Wood - “American Gothic” •Frank Lloyd Wright - “Falling Water”
  41. 41. Culture •“Brother, Can You Spare a Dime” •“The Star Spangled Banner” 1931 and “God Bless America” 1938 •Mount Rushmore completed by Gutzon Borglum •Grant Wood - “American Gothic” •Frank Lloyd Wright - “Falling Water”
  42. 42. •Movies, in the late 30’s are seen by about 65% of the American public. •“Golden Age” of film •Clark Gable, Bette Davis, Greta Garbo, Fred Astaire and Shirley Temple The Golden Age of Film
  43. 43. •85 million viewers per week (total pop was 123) Attended Movies at Least Once per Week - “Snow White and the Seven Dwarfs 1937” - “The Wizard of Oz 1939” - “Gone with the Wind, 1939” The Golden Age of Film
  44. 44. Radio - by late 1930’s radios were owned by 90% of American Households Beset by deep anxieties and insecurities, many Americans in the 1930s hungered for heroes: like Superman and Batman; tough, hard-boiled detectives like Dashiell Hammett; and radio heroes like "The Lone Ranger" or "The Shadow."
  45. 45. 1936 - “The Aliens are coming!!” A radio show prank done by Orson Wells to promote the book “The War of the Worlds” creates a huge scare. Estimates of 1.7 Million people were disturbed.
  46. 46. Civil Rights •Black Cabinet, by 1935 - 45 blacks working in executive positions of New Deal agencies Mary McLeod Bethune - Anti Lynching campaigns - worked with Eleanor Roosevelt for social movements. 1939 Marian Anderson Steps of Lincoln Memorial, 4/9/39 Sang National Anthem after being rejected by the Daughters of the American Revolution. “No one can make you feel inferior without your consent.”
  47. 47. Jesse Owens, 1936 Olympics “When I came back to my native country, after all the stories about Hitler, I couldn't ride in the front of the bus. I had to go to the back door. I couldn't live where I wanted. I wasn't invited to shake hands with Hitler, but I wasn't invited to the White House to shake hands with the President, either.” 1936 Olympics - In Nazi Germany Won 4 gold medals
  48. 48. Big Bill Broonzy lyrics Black, Brown And White blues lyrics This little song that I'm singin' about, Brother, you all know that it's true, If you're black and gotta work for livin', Now, this is what they will say to you, They says: If you was white, You's alright, If you was brown, Stick around, But if you's black, oh, brother, Get back, get back, get back. I was in a place one night, They was all havin' fun, They was all buyin' beer and wine, But they would not sell me none. They said: If you was white, You's alright, If you was brown, You could stick around, But if you's black, hmm, hmm, brother, Get back, get back, get back. Me and a man was workin' side by side, Now, this is what it meant: They was payin' him a dollar an hour, And they was payin' me fifty cent. They said: If you was white, You'd be alright, If you was brown, You could stick around, But if you's black, oh, brother, Get back, get back, get back.

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