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Chapter 24 The Great Depression and the New Deal. The American People , 6 th ed. I. The Great Depression. The Depression Begins. Farmers had suffered throughout the 1920s and were the first group to plunge into depression

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Chapter 24 the great depression and the new deal

Chapter 24The Great Depression and the New Deal

The American People, 6th ed.

The depression begins
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

Hoover and the great depression
Hoover and the Great Depression

  • President Hoover took aggressive action to stem the depression by using the power of the federal government

  • He created a wide variety of agencies and boards that contained the best minds in American business to suggest solutions

  • He also sponsored a tax cut hoping to stimulate the economy

The election of 1932
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.”

The banking crisis
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

Relief measures
Relief Measures

  • The Federal Emergency Relief Administration (FERA)

  • The Civil Works Administration (CWA)

  • The Public Works Administration (PWA)

  • The Agricultural Adjustment Act: stabilized prices on farm produce through paying farmers to reduce their acreage under cultivation

Industrial recovery
Industrial Recovery

  • The National Industrial Recovery Act (NIRC)

  • The National Recovery Administration (NRA)

  • National Labor Board

Work relief and social security
Work Relief and Social Security

  • The Works Progress Administration (WPA)

  • The National Youth Administration (NYA)

  • The Social Security Act of 1935

The battle of the supreme court
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