1929 1940 The Great Depression / New Neal
MAIN THEMES GREAT DEPRESSION / NEW DEAL 1. How the underlying weaknesses of the American economy contributed to the Great Depression, and how the stock market crash touched it off. 2. How Franklin Roosevelt pushed through programs of economic recovery and Depression relief, despite his essentially traditional economic views. 3. The nature of popular protests against early New Deal reforms and the nature of Roosevelt’s "Second New Deal" programs made in response to the complaints. 4. That the New Deal gave rise to a new role for the federal government in its relationship between labor, business, and the general public.
The Great Depression • The Coming of the Great Depression • The Great Crash • Black Tuesday: Oct 29, 1929 • Ave. Stock Price Increace • Plunge
The Great Depression • The Coming of the Great Depression • Causes of the Depression • Lack of diversification • Weakness in consumer demand • Distribution of Wealth • Poor credit structure • Reckless Bank Investments • International debt • Germany
The Great Depression • Debating the Past Causes of the Great Depression • Neo-Conservative: Milton Friedman • Contraction of Currency • Keynesian: • Drop in Individual / Public Spending
The Great Depression • The Coming of the Great Depression • Progress of the Depression • Bank Failures: • 9000 between 1930-1933 • Failure of the Federal Reserve • 25% Decline in GDP • *National Income* • “Dust Bowl” • Farm Income Declined 60%
The Great Depression • The American People in Hard Times • African Americans and the Depression • High Unemployment • “Scottsboro Boys”
The Great Depression • The Depression and American Culture • The Popular Front and the Left • Socialism in America “Communism is twentieth century Americanism” John L. Lewis
The Ordeal of Herbert Hoover • Popular Protest • “Bonus Army” • Federal Intervention • Decline of Hoover • The “Interregnum” • End of Prohibition • International Financial Panic • “Bonus Army” • Federal Intervention • Decline of Hoover
The Ordeal of Herbert Hoover • The Election of 1932
Launching the New Deal • Restoring Confidence • Bank Holidays • Emergency Banking Act • Economy Act • FDIC • The First New Deal • Industrial Recovery • Civilian Conservation Corps • National Industrial Recovery Act • (NRA) • Labor Standards • Union Rights • Supreme Court
The New Deal • Debating the Past THE NEW DEAL
The New Deal • The New Deal in Transition • Critics of the New Deal • American Liberty League • Dr. Francis E. Townsend • Father Charles Coughlin • Huey P. Long
The New Deal • The New Deal in Transition • The “Second New Deal” • Supreme Court • Wagner Act • Social Security Act • Workers Progress Admin (WPA) • “Soak the Rich”
The New Deal • The New Deal in Transition • Labor Militancy • John L. Lewis & CIO • United Auto Workers (UAW) • Steel Workers Organizing Committee (SWOC)
The New Deal in Transition • New Directions in Relief
The New Deal in Disarray • Retrenchment and Recession • Balanced Budget • Recession of 1937
Limits and Legacies of the New Deal • African Americans and the New Deal • Eleanor Roosevelt • “Black Cabinet” • New Party Alignment • Black Labor Organizing • E. Philip Randolph
The New Deal • Limits and Legacies of the New Deal • The New Deal and the Economy • Elevation of groups • Increased government regulation • Creation of welfare state
OBJECTIVES • A thorough study of Chapter 26 should enable you to understand • The series of emergency measures designed to restore confidence that were enacted during the early part of the New Deal. • The New Deal programs for raising farm prices and promoting industrial recovery. • The first federal efforts at regional planning. • The New Deal program for reforming the financial system. • The federal relief programs and Social Security. • The political pressures from both the left and the right that caused Franklin Roosevelt to move in new directions from 1935 on. • The changes in organized labor during the New Deal period. • The effects of the Court-packing scheme and the recession of 1937 and 1938 on Roosevelt and the New Deal. • The impact of the New Deal on minorities and women. • The lasting significance of the New Deal to the American economy and political system.
OBJECTIVES • A thorough study of Chapter 25 should enable you to understand • The relationship between the stock market crash and the subsequent Great Depression. • The causes of the Depression and the reasons for its severity. • The problems of unemployment and the inadequacy of relief. • The particular problems of farmers in the Dust Bowl. • The impact of the Depression on minorities. • The impact of the Depression on working women and the American family. • The reflection of the economic crisis in American culture. • President Herbert Hoover's policies for fighting the Depression.