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The Dirty Thirties

The Dirty Thirties. Crash and Depression. Causes of the Great Depression. 1. The Stock Market Crash of 1929: mainly impacted businesses and wealthy individuals. Causes of the Great Depression. 2. The overuse of credit throughout the 20s. Causes of the Great Depression.

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The Dirty Thirties

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  1. The Dirty Thirties Crash and Depression

  2. Causes of the Great Depression • 1. The Stock Market Crash of 1929: • mainly impacted businesses and wealthy individuals

  3. Causes of the Great Depression • 2. The overuse of credit throughout the 20s

  4. Causes of the Great Depression • 3. Agricultural Crisis

  5. Causes of the Great Depression • 4. Bad Banking Practices https://www.youtube.com/watch?v=iPkJH6BT7dM

  6. Causes of the Great Depression • 5. A global depression

  7. Causes of the Great Depression • 6. Laissez Faire politics throughout the 1920s

  8. Conditions of the Great Depression • 1. Unemployment

  9. Conditions of the Great Depression • 2. The Dust Bowl

  10. Conditions of the Great Depression • 3. Distrust of the banking system

  11. Conditions of the Great Depression • 4. Small government is replaced with big government

  12. Election of 1932 • Approach to the Great Depression: • Hoover believed that depression relief should come from state and local governments and private agencies • Roosevelt believed that the depression required strong action and leadership by the federal government. “This campaign is more than a contest between two men… it is a contest between two philosophies of government.” -Hoover

  13. FDR and the New Deal • In 1932 Franklin Delano Roosevelt was elected President defeating Hoover by a landslide • FDR was elected primarily for his “New Deal” campaign which promised more government programs and direct help for the people to solve the problems of the Great Depression. • “The country needs, and, unless I mistake its temper, the country demands, bold, persistent experimentation. It is common sense to take a method and to try it. If it fails, admit it frankly and try another. But above all, try something! - FDR May 22nd 1932 • When FDR was elected, he brought optimism and hope to a fearful nation. • Fireside Chats: radio speeches that were given to encourage and appeal to the average American

  14. The New Deal Begins • During his first Hundred Days, Roosevelt… • Created the “brain trust”-a group of diverse advisors- to help him plan the New Deal • Focused on fixing the banking industry by declaring a “bank holiday” • Proposed and Congress passed 15 major bills • These measures had 3 goals: • 1. Relief for those suffering the effects of the depression • 2. Recovery of the depressed economy • 3. Reforms that would help prevent serious economic crises in the future

  15. New Deal Programs • There were two phases of the New Deal, each had programs that: • Reformed the financial system • Ex. FDIC, Emergency Banking Act, SEC • Reformed Agriculture • Ex. AAA • Reformed industry • Fair Labor Standards Act, CIO • Sought to employ people and support business • WPA, NRA, CCC, TVA • Offered relief • Social Security Act, FERA

  16. Impact of the New Deal • Positive: • Business profits and farm prices were up • Unemployment went down • Restoration of people’s faith and confidence in America • Positive reforms to prevent future economic crashes • Negative: • The US is still left in a depression • Costly, led to serious government debt • Beginning of the “welfare state”: people relying on the government • Was discriminatory against minorities

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