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The Great Depression

Organizing Ideas

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The Great Depression

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    3. Underlying Causes

    20. Effects of the Depression?

    62. What Does It Mean?

    81. …By 1932

    82. Reconstruction Finance Corporation (RFC) - Feb. 1932 Hoover's main weapon against the Depression Loaned money to financially troubled businesses - to keep them afloat – only loaned 20% of what it had $2 billion - mainly to large corporations – 32,000 businesses had already closed down 5,000 businesses got aid – those most in need did not banks insurance companies loan associations railroads, etc. Helped to prevent further declines in the business cycle - but did nothing for those already affected Good idea? What about timing? Image - Republicans continue to give aid to the rich

    83. 1932 - Emergency Relief and Reconstruction Act Protest - by 1932 mood of country became "ugly" Late attempts to help came in an election year and smacked of politics President’s Organization for Unemployment Relief (POUR) Increased indirect relief in the form of work relief Too little too late $250 million in 1930 $750 million in 1933 Underestimated the seriousness of the problem

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