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Do Now: Vocabulary Quiz

Explore the dangers signs, stock market crash, social effects, and the election of 1932 during the Great Depression. Learn about FDR's New Deal and its impact on the economy.

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Do Now: Vocabulary Quiz

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  1. Do Now:Vocabulary Quiz 1. NEW DEAL 2. DEMAGOGUE • DUST BOWL 4. WELFARE CAPITALISM 5. NATIONALIZATION 6. WAGNER ACT 7. REVENUE 8. HUNDRED DAYS 9. SOCIAL SECURITY 10. HOOVERVILLE • A leader who manipulates through scare tactics • A period of drought and storms • Period at the start of FDR’s presidency • Makeshift shelter for homeless • Conversion to gov’t ownership • Plan of relief, recovery and reform • Government income • Provides money for those who cannot support themselves • Law that helped unions by legalizing collective bargaining • Companies meet workers’ needs without Union prompting

  2. DO NOW… What were 3 cultural changes that occurred during the Roaring 20’s?

  3. THE GREATDEPRESSION Chapter Objectives: • Danger Signs • Stock Market Crash • Social Effects • Dust Bowl • Election of 1932 • New Deal

  4. Economy Appears Healthy:Not all is as it appears! • Wonderful Prosperity: economy seemed healthy – stock market surged, higher wages, & unemployment low • Welfare Capitalism: raised wages, paid vacations, health insurance • Public had high confidence in business • Lots of investment in stock market

  5. WARNING SIGNS • Uneven Prosperity: rich got richer • Buying on Credit: increase in personal debt • Speculation: making high-risk investments, hoping for a high gain • Buying on margin: Buying stock by borrowing on future gain • Too many goods: demand dropped at the end of the 1920’s

  6. The Stock Market Crash

  7. THE CRASH • Dow Jones Industrial Average: average of stock prices of major industries • Black Thursday: 1st drop in stock market; bankers were able to contain damage • Black Tuesday: stock market collapse – October 29, 1929 • Those who heavily invested in the stock market lost everything

  8. Effects of the Crash • Ripple effect: produced economic chaos throughout the world for many years • Income and profits fell causing factories to close • Banks close: people rushed the banks to take out their money; many could not return their customers’ money • Global effects: when the US economy collapsed, it hurt the global economy

  9. Causes of the Crash • Overspeculation: the stock market boom was based on borrowed money, not real value • Government policies: interest rate cuts to encourage growth and cuts in money supply to limit lending • Unstable economy: wealth unevenly distributed, more goods produced than sold, & farmers did not enjoy the economic boom

  10. SOCIAL EFFECTS OF THEGREAT DEPRESSION • The number of jobless people rose dramatically • Many suffered from poor diet & medical care • “relief gardens” • Black unemployment soared. • Many hispanics & Asian-American were deported • Justice system ignored rights

  11. Surviving the Depression • People pulled together to help each other. • Communist party & Socialists offered promises of fairer distribution of wealth • Humor helped people: - Hoover flag: turned out pocket - Hoover blanket: old newspaper • Prohibition repealed: 21st amendment • Construction of the Empire State Building

  12. Survival

  13. Election of 1932:Hoover’s Failure • Hoover’s attempts to fix depression failed. - Voluntary Action - Help the rich first – trickle down theory - Hawley-Smoot Tariff: highest import tax in history (1930) • Most blamed Hoover for allowing the Depression to continue

  14. Hoover’s Failure

  15. A New Deal for America:Franklin D. Roosevelt • Former governor of New York • Genuine compassion for ordinary people • Planned to use programs begun for relief in New York at the national level - unemployment commission - relief administration • Won the election of 1932 by 7 million votes

  16. THE NEW DEAL:First Hundred Days

  17. First Hundred Days

  18. BANK HOLIDAY • FDR’s first step was to restore confidence in the nation’s banks. • Closed all banks for 4 days • Emergency Banking Act: allowed the government to assess the health of all banks • Assured Americans that the banks were safe • FDIC: insures deposits up to $5,000. ($100,000 today)

  19. Roosevelt’s Alphabet Soup

  20. Second New Deal Wagner Act (1935): • Legalized union practices • Outlawed spying on unions & blacklisting • Set up the National Labor Relations Board Social Security System (1935): • Old age pensions & survivor’s benefits • Unemployment insurance • Aid for dependent children, blind, & disabled people

  21. Critics of the New Deals LIMITS • Men & boys favored over women • Did nothing to end discrimination in the North • Limited success in ending poverty TOO MUCH • New Deal went too far • Programs like socialism • High taxes for rich

  22. Court–Packing Scheme • Beginning in 1935, the Supreme Court began striking down New Deal programs • FDR developed a strategy for gaining Court support. • The Constitution did not limit the number of Justices on the Supreme Court • FDR proposed to increase the Court to 15 Justices that he would appoint to support his programs

  23. Alphabet Soup Quiz SECURITIES & EXCHANGE A. COMMISSION (SEC) AGRICULTURAL ADJUSTMENT ACT (AAA) TENNESSEE VALLEY AYTHORITY 4. CIVILIAN CONSERVATION CORP (CCC) CIVIL WORKS ADMINISTRATION

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