1 / 28

The New Deal

Explore the background of the Great Depression, Hoover's initial response, and the transformative policies of FDR's New Deal. Learn about the programs and initiatives that aimed to provide relief, stimulate economic recovery, and enact lasting reforms. Understand the lasting legacy of the New Deal and the debates surrounding government intervention during times of crisis.

okeefer
Download Presentation

The New Deal

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The New Deal Relief, Recovery and Reform

  2. Background • Hoover wins by a landslide in 1928: • Continues the Republican policies of the 1920’s: • lower taxes, • less regulation of businesses, • easy and available credit, • high protective tariffs

  3. Crash • 1929: October 29 Black Tuesday • Causes: • Overproduction both agriculture and industry • Speculation, buying stocks on margin • Debt, easy credit • Lack of regulation: unsafe business practices • Worldwide depression (made worse by high tariffs) • Uneven distribution of wealth

  4. Stock Values Plummet

  5. Crash Cont’d • Results: • By end of 1929: loss of over $40 million in stock values • 1930: over 4million unemployed in US • 1932: over 12 million unemployed • Villages of homeless:Hoovervilles

  6. Desperate Times

  7. Hoover’s Response • Rugged individualism, laissez faire • 1931-1932; Began to use more govt. power and money to respond • Hoover Dam: Colorado River • Reconstruction Finance Corporation: made loans to corporations • Bonus Army driven out of Washington: people blamed Hoover

  8. Bonus Army

  9. FDR • Election of 1932: FDR (democrat) wins landslide • Note: African Americans switch from primarily republican voters (Lincoln) to dems ( help for poor) • Hope: …Only thing we have to fear is fear itself… • Known for ‘fireside chats” friendly…

  10. FDR

  11. New Deal • Relief, Recovery, Reform: • Democratic Congress passes his new plans “Hundred Days Congress” • Many new deal reforms based on European reforms earlier

  12. Money and Banking • Nationwide Banking Holiday: close banks to stop paranoid withdrawals • Emergency Banking Relief Act • Federal Deposit Insurance Corporation: insured deposits • Federal Securities Act • Security and Exchange Commission (Watchdog for stock market

  13. Seen on bank doors all over US

  14. Jobs for Jobless • Civilian Conservation Corps: 3 million young men live in camps: forestry, controlled floods, fire fighters… • Federal Emergency Relief Act; short term emergency $$ • National Recovery Administration: regulation of industry, wages, hours: later over-ruled by Supreme Court

  15. CCC • Civilian Conservation Corps

  16. Jobless Continued • Public Works Administration: spent $4 billion on 34,000 projects, public buildings, highways, dams… • WPA Works Progress Administration gave 9 million people jobs in 8 years • Reversed prohibition: 21st amendment sold alcohol legally with a tax to raise money

  17. Helping Farmers • AAA: Agricultural Adjustment Act: millions to help farmers pay mortgages • Soil Conservation and Allotment Act: paid farmers to grow soil conserving crops ( soybeans) or to not grow crops at all • 1935 Resettlement Administration: moved farmers to better land ( away from Dust Bowl)

  18. Migrant Farmers

  19. Pea Camp

  20. Long Lasting Legacy • FHA: Federal Housing Administration: small loans to building industry • US Housing Authority: loans to state/local govt. to build low cost housing • Social Security Act of 1935: pension and insurance for elderly, blind, physically handicapped… based on taxing employees and employers

  21. Critics of the New Deal • American Liberty League: too much government!! • Huey Long: (LA) “Share the Wealth” every family to receive $5000 from the rich • Father Charles Coughlin: Catholic Priest in Michigan spoke out on radio vs. New Deal Wanted more help for the poor

  22. Huey Long

  23. Results: • Crisis passes, people have faith in government restored • WW2 1939-1945 provides industry boost to end depression • Government’s role in US changed forever: Social Security, FDIC, SEC, FHA… all continue to present. Much more support is expected…

  24. Quotes: Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves. Herbert Hoover

  25. Quotes • But while they prate of economic laws, men and women are starving. We must lay hold of the fact that economic laws are not made by nature. They are made by human beings. Franklin D. Roosevelt

  26. When the poor were “us”… not them

  27. Choices? • How much help is justified? • When? Where? • How much is too much? • What would have happened if Hoover had been re-elected?

More Related