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The Depression

The Depression. The Hoover Years. Pre Crash. US is experiencing prosperity Rising GDP Wages: Up Hours: Down Industry was moving. Election of 1928. Hoover Wins! Extends hold of Republicans Economists Helped Europe out of Post-War food problems Promises Prosperity for “Decades to come”.

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The Depression

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  1. The Depression The Hoover Years

  2. Pre Crash • US is experiencing prosperity • Rising GDP • Wages: Up • Hours: Down • Industry was moving

  3. Election of 1928 • Hoover Wins! • Extends hold of Republicans • Economists • Helped Europe out of Post-War food problems • Promises Prosperity for “Decades to come”

  4. The Crash • Thurs. Oct. 24, 1929 • Market take a dip • Recover by Friday • Monday slow but moving steadily • Tues. Oct. 29, 1929 • Market starts slow then dives • Frantic buyer begin to sell • Stock Market forced to close • Damage is done

  5. The Next Year • Banks begin to fail: Ripple effect • Call in loans • People out of work • Can’t pay loans • Banks begin foreclosures • Hit Farmers hard

  6. Pain Of Poor • Cities and churches open bread lines • Thousands of men and women seek help • Food • Shelter • Work

  7. Hoover and the Depression • Lowers income taxes • Not much help because already low • Meets with business leaders • Agree to keep wages at current levels • Refuses welfare programs • Believes people won’t work

  8. Reconstruction Finance Corporation • Set up to make loans to businesses, banks, etc • Idea was to put money into system to get it moving • Opposite effect • Beauracracy • Corruption • Most money was never even loaned out

  9. Hawley-Smoot Tariff Act • Hoover signs act • Plan to raise tariffs to help businesses • The damage • Europe raises their tariffs • Farmers are crushed • Helps the decline of US Industry

  10. Hoover’s Shame • Many Americans begin to blame Hoover • Not doing enough • Looking out for business and the rich • Hoover becomes the but of many jokes

  11. The New Deal FDR’s Attempt to End the Depression

  12. Herbert Hoover • A economist, not a politician • 1929-1930 • Depression felt by farmers and poor • 1930-1931 • Bank closures begins to affect all • Unemployment at 14% • 13 million out of work • Industry at a stand still • Haley-Smoot Tariff • Increased tariffs • Trading partners do same • More damage than good

  13. 1932 Election • Republican: Hoover • Democrat: Roosevelt • Landslide victory • Roosevelt wins nearly every state • Promises America a “New Deal”

  14. Who Is Roosevelt

  15. Untold Roosevelt

  16. 100 Days • Will be one of the busiest and most productive in Congressional History • “Bank Holiday” • Banks forced to close • Restructure • Can not open unless they have funds • Those that don’t will remain closed

  17. New Deal I • Congress passes sweeping legislation • Alphabet Soup • CCC, WPA, NIRA, FERA, NYA, AAA, TVA, NRA • 21st Amendment • Repeals prohibition • Tax increaseson wealthy • Redistribution of wealth • Union assistance

  18. Agricultural Adjustment Administration • AAA • Pay farmers not to grow • Increase prices • Lower surpluses • Tenant/Sharecroppers • Monies went to owners • Supposed to be shared with “renters” • Was not the case • Ruled unconstitutional by Supreme Court in 1936

  19. Civilian Conservation Corps • CCC “Tree Army” • Employed 18-25 yr. olds • Get them off the streets • 300,000 max enrolled • 2.5 million over the span of the program • $30 • $25 to be sent home • Work • Building canals • Cleaning national forests • Planting trees • Making trails

  20. Works Progress Administration • WPA • Carried out public works projects • Employed millions • Kept culture alive • Writing • Painting • Plays • History • Slave narratives • Native American art and history • Music

  21. National Recovery Administration • Created through the National Industrial Recovery Act (NIRA) • Supported Unionization • Collective bargaining • Minimum wages • Minimum hours • Encourage competition • Break monopolies • Supreme Court rules NRA unconstitutional in 1936

  22. Tennessee Valley Authority • TVA • Hydroelectrcity • Meant to bring employment and electricity to rural areas • Gov’t run not private • Bring the South out of Agrarian society and into Industrialized society • Also in mid west and northern Pacific

  23. The Dust Bowl • 1930-36 • Affected mid west • Massive dust storms • Many forced to move • Okies • Those coming from Oklahoma, but encompassed all • California • Citrus farming • The Grapes of Wrath by John Steinbeck

  24. Dorothea Lange • WPA member • Captured Images of the Dust Bowl and Depression

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