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The Great Depression and the New Deal

Learn about the causes and effects of the Great Depression, as well as the policies and programs implemented by President Roosevelt's New Deal to help alleviate the economic crisis. Explore topics such as the stock market crash, Hoover's presidency, Roosevelt's First and Second New Deal, relief measures, and the battle of the Supreme Court.

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The Great Depression and the New Deal

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  1. The Great Depression and the New Deal

  2. I. The Great Depression

  3. The Stock Market Boom • Stock exchange: organized system for buying and selling shares. • Investors start buying on margin (Credit) • Stock market panic: Crash has people losing money and selling stocks

  4. The Depression Begins • Farmers had suffered throughout the 1920s and were the first group to plunge into depression • Businesses increased profits while holding down material costs and wages, thus suppressing consumer spending power • Global economic problems created by World War I were the main factors

  5. Depression Facts • By 1932, 25% of Americans were unemployed.

  6. Hoover and the Great Depression • Although President Hoover thought the Depression was temporary, he took aggressive action to improve the Depression with the help of the federal government. • He created a wide variety of agencies and boards that contained the best minds in American business to suggest solutions • Public works: projects to make jobs on highways, parks, or libraries.

  7. Facts on Herbert Hoover’s Presidency Bonus Army: they wanted their money from fighting in WWI and marched on Wash.

  8. Roosevelt and the First New Deal

  9. The Election of 1932 • Hoover’s unpopularity denied him his second term and ushered Franklin Roosevelt into the White House • Roosevelt promised a “New Deal” for Americans and relief from the depression • “The only thing we have to fear is fear itself.”

  10. Franklin D. Roosevelt • Distant cousin to Teddy Roosevelt • Married Eleanor Roosevelt (Teddy’s niece) • Elected president in 1932 • Had a “Brain Trust” (lawyers, economists) • Won in a landslide victory over Hoover. • He wanted to help the “forgotten man at the bottom..”

  11. The Banking Crisis • Many American banks had closed immediately after the stock market crash and the public no longer trusted them • Roosevelt tabled an emergency Banking Relief Act that gave the executive broad powers of financial reform • Additional legislation followed strengthening the Federal Reserve and establishing the FDIC to insure deposits

  12. III. One Hundred Days • Closed banks for 4 days (Emergency Banking Relief Act)…he reorganized the banks • Passed 15 new proposals into law to help stimulate the economy and build American confidence.

  13. Relief Measures • (PWA): Public Works—built ports, schools, and aircraft carriers • (FERA): gave relief to unemployed and needy • (FDIC): insured savings accounts by banks • (TVA): Tenn. Valley Authority—built dams and used water power, set up schools • (AAA) The Agricultural Adjustment Act: stabilized prices on farm produce through paying farmers to reduce their acreage under cultivation

  14. Industrial Recovery • The National Industrial Recovery Act (NIRC) • The National Recovery Administration (NRA) • National Labor Board

  15. IV. The Second New Deal

  16. New Deal Takes Shape • FDR gave high priority to create jobs • Rebuilt the Tennessee Valley Region • Helped business and labor by backing work projects • Created 2.5 million jobs that benefited workers and others.

  17. Work Relief and Social Security • The Works Progress Administration (WPA) • The National Youth Administration (NYA) • The Social Security Act of 1935

  18. The Last Years of the New Deal

  19. The Battle of the Supreme Court • As the first act of his second term, Roosevelt announced a plan to reform the judicial system • Angry with the Supreme Court for foiling several New Deal measures, the president was determined to create a more willing court • His scheme was complex and produced a public outcry of dictatorship; Roosevelt quickly pulled back his plan • Ironically, the Court began passing practically every new initiative after this event

  20. Other notes for test Minorities jobs were taken by white employers and prejudice continued against minorities. Every week about 85 million people went to the movies to escape their cares and worries. Francis Townsend: a California doctor that is famous for creating a monthly pension.

  21. Vocabulary to know migrant worker: After the Dust Bowl people that moved place to place looking for work pension: Money that an older person receives after retirement that is paid monthly unemployment insurance: A tax that was put on workers and it funded people that lost their jobs is called

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