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Franklin D. Roosevelt and the New Deal. Redefined Democracy: Political Rights  Economic Security  Social Justice. Essential Question : What were the causes of the Great Depression? Warm-Up Question :

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franklin d roosevelt and the new deal

Franklin D. Rooseveltand the New Deal

Redefined Democracy:

Political Rights  EconomicSecurity  Social Justice

slide2
Essential Question:
    • What were the causes of the Great Depression?
  • Warm-Up Question:
    • Think about the changes that took place in America in the 1920s. In what ways were these changes good? Bad?
the business of america
The Business of America
  • Calvin Coolidge (President)
  • fit pro-businessspirit of the 1920s
  • Famous quote:
    • “The chief business of the American people is business . . .the man who builds a factory builds a temple – the man who works there worships there”

President Calvin Coolidge 1924-1928

american business flourishes
American Business Flourishes
  • President Coolidge (Republican) successor Herbert Hoover
    • favored governmental policies that kept taxes down and business profits up
    • Tariffs were high, which helped American manufacturers
    • Government interference in business was minimal
the impact of the auto
The Impact of the Auto
  • Auto
    • backboneof the American economy
  • Ford Model T
  • came only in black
  • sold for $290 ($3553 in 2011 dollars)
  • Over 15 million were sold by 1927
how auto changed america
How Auto Changed America
  • Paved roads, traffic lights, motels, billboards
  • Home design (garages, driveways)
  • Gas stations, repair shops, shopping centers
  • Freedom for rural families
  • Independence for women and young people
  • By 1920 80% of world’s vehicles in U.S.
airline transport becomes common
Airline Transport Becomes Common
  • airline industrybegan as a mail carrying service
    • quickly “took off”
  • By 1927 Pan American Airways was making transatlantic passenger flights

When commercial flights began, all flight attendants were female and white.

american standard of living soars
American Standard Of Living Soars
  • 1920-1929
    • (prosperity)
      • Americans owned 40% of the world’s wealth
      • average annual income rose 35% during the 1920s

(for top earners)

      • discretionary income increased
electrical conveniences
Electrical Conveniences
  • electricity transforms the nation
    • Electric refrigerators
    • Stoves
    • Irons
    • Toasters
    • Vacuums
    • washing machines
    • sewing machines
    • All available!
modern advertising emerges
Modern Advertising Emerges
  • Ad agencies no longer sought to merely “inform” the public about their products
  • Agencies hired psychologists to study how best to appeal to Americans’ desire for youthful, beauty, health and wealth
  • “Say it with Flowers”slogan doubled sales between 1912-1924
a superficial prosperity
A Superficial Prosperity
  • Many during the 1920s believed the prosperity would go on forever
    • Wages
    • Production
    • GNP
    • stock market
    • all rose significantly

But. . . .

problems on the horizon
Problems on the Horizon?
  • Businesses expanded recklessly
  • Iron & railroad industries faded
  • Farms nationwide suffered losses due to overproduction
  • Too much was bought on credit including stocks
causes of the great depression
Causes of the Great Depression
  • The 1920s were a decade of consumer spending & the economy looked healthy on the surface:
    • Income did increase in the 1920s, but there were some severe problems with the U.S. economy
    • In October 1929, the “Roaring Twenties” came to an end & the Great Depression began…why?
the great depression
The Great Depression

We in America today are nearer to the final triumph over poverty than ever before in the history of any land. The poorhouse is vanishing from among us.

-- Herbert Hoover, 1928

causes of the great depression2
Causes of the Great Depression

Agricultural overproduction

bank issue

Industrial overproduction

Uneven division of wealth

Over-extension of credit

bank issue

International economic situation

bank issue

Banking catastrophe

3 strikes against the banks

You’re Out!

causes of the depression
Causes of the Depression
  • Agricultural overproduction:
    • The end of WWI led to a decline in demand for agricultural products
    • Too much food led to a 40% drop in crop prices
    • Farmers could not pay back loans & many had their farms foreclosed
    • Some rural banks failed
causes of the depression1
Causes of the Depression
  • Industrial overproduction:
    • Mass-production of consumer goods led to overproduction
    • People did not need as many appliances & cars bytheendofthedecade (under-consumption)
    • Railroads, textiles, steel, coalmining,construction were barely profitable
overproduction of consumer goods
Overproduction of Consumer Goods

Too much inventory…Not enough buyers

traditional industries suffered in the 1920s
“Traditional” industries suffered in the 1920s

Corporate Profits for Coal and Railroad Industries, 1920-1930

Profits for Railroad Companies

Profits for Coal Mining

causes of the depression2
Causes of the Depression
  • Uneven Division of Wealth
    • Despite rising wages, the gap between the rich & poor grew wider in the 1920s
    • 70% of Americans were considered “poor”
    • Most of the spending in the 1920s was done by 30% of the population
distribution of wealth in the 1920s
Distribution of Wealth in the 1920s

* An income of $2,500 per year was considered the minimum

amount needed for a decent standard of living

causes of the depression3
Causes of the Depression
  • Credit:
    • Many Americans used easy credit to live beyond their means
    • By “buying now & paying later,” Americans generated large debts
    • As a result, Americans cut back on spending by the end of the decade
causes of the depression4
Causes of the Depression
  • The Stock Market:
    • In the 1920s, the stock market soared & people speculated with stocks
      • bull market – upward trend in stock market
    • Many people borrowed money to pay for stocks, called buying on margin
causes of the depression5
Causes of the Depression
  • The Stock Market:
    • There was no regulation of the market & some companies altered stock values to raise profits
      • bear market – downward trend in stock market
causes of the depression6
Causes of the Depression
  • The Stock Market:
    • On October 29, 1929 (Black Tuesday) the stock market crashed
    • People rushed to sell, prices plummeted, & investors lost $30 billion
    • Speculators who bought on the margin, could not pay off their debts
    • Many lost their savings

The stock market crash in October 1929 marked the beginning of the “Great Depression”

causes of the depression7
Causes of the Depression
  • The Stock Market:
    • Speculators who bought on the margin, could not pay off their debts
    • Many lost their savings

“Wall Street Lays An Egg”-Daily Variety (Oct. 30, 1929)

slide34

The U.S. stock market had only about 3 million active buyers & sellers but the spillover into the greater economy led to the Great Depression

causes of the depression8
Causes of the Depression
  • International Economic Situation:
    • France / England borrowed $$$ to finance WWI
    • Reparations from Germany / Austria used to make payments
    • Overtime, G and A could not make the reparation payments
    • 1927 – 1928 F and E borrowed more $ to pay debts
causes of the depression9
Causes of the Depression
  • International Economic Situation:
    • Post-war debts in Europe & high protective tariffs in America limited international trade
    • The Great Depression led to a global depression in Europe, Asia, & Latin America
    • World trade fell by 40%
    • exacerbated banking crisis
causes of the depression10
Causes of the Depression
  • Bank Failures:
    • After the crash, people tried to withdraw their money from banks
    • In 1929, 600 banks failed due to lack of funds & the inability to recoup loans
    • The failure of the banks left many Americans without their life savings
effects of the great depression
Effects of the Great Depression
  • The Great Depression led to a collapse of the U.S. financial system
    • 9,000 banks & 90,000 businesses failed by 1933
    • Gross National Product (GNP)

total value of all goods and services

produced in a given year

      • 1929 -- GNP = $103 Billion
      • 1933 -- GNP = $56 Billion
    • 15% unemployment throughout the 30s, sometimes reaching as high as 25%
effects of the great depression1
Effects of the Great Depression
  • Consumer Confidence:
    • Millions of Americans lost their jobs or took pay cuts to keep jobs
    • The lack of confidence in the future kept people from spending money
    • The lack of spending made the depressiondrag onuntil the 1940s
depression life
Depression Life
  • Shantytowns or (“Hoovervilles”)
    • with no money for mortgages, many forced onto streets
      • selling an apple
    • America had record poverty & suicide rates; Fathers abandoned families; Healthcare declined
    • Private charities created soup kitchens & breadlines to help
      • breadlines and soup kitchens synonymous with the Great Depression
the dust bowl
The Dust Bowl
  • The effects of the depression were made worse by the Dust Bowl:
    • Heavy droughts & over-farming in the West destroyed the Plains
    • In the early 1930s, windstorms swept away loose soil
    • Farmers in the Plains left their farms & searched for work or better land in West coast states
dust bowl
Dust Bowl
  • Farmers in crisis
    • drought creates setting for (Harvest Gypsies)
the dust bowl 1931 1939 worsened the effects of the depression
The Dust Bowl (1931-1939) worsened the effects of the Depression

Areas Affected by the Dust Bowl drought

“Okies” & “Arkies”

escapism
Escapism
  • Americans head to the movies and listen to the radio in record numbers
    • films with themes such as
      • triumph over adversity
      • visions of a better life
      • Examples: The Wizard of Oz, Mr.Smith Goes to Washington, Gone With the Wind, Snow White and the Seven Dwarfs
    • Radio
      • comedies and daily news
      • Examples:Lone Ranger, Soap Operas “Guiding Light”
escapism1
Escapism

Depression in Art

  • attempt by artists to capture the real America
    • John Steinbeck's The Grapes of Wrath
    • William Faulkner's The Sound and the Fury
  • Regionalist school (art movement)
    • Emphasized traditional American values
      • Thomas Hart Benton
      • Grant Wood

American Gothic

by Grant Wood

how herbert hoover dealt with the crisis
How Herbert Hoover Dealt with the Crisis
  • Confidence economics
    • “Prosperity is right around the corner.”
  • Rugged Individualism
    • Success comes through individual effort / private enterprise
how herbert hoover dealt with the crisis1
How Herbert Hoover Dealt with the Crisis

“I do not believe that the power and

duty of the General Government

ought to be extended to the relief of

individual suffering.... The lesson

should be constantly enforced that

though the people support the

Government the Government

should not support the people.”

-- Herbert Hoover, 1930

Who should relieve the suffering?

Community / Church resources

Salvation Army, Community Chest, Red Cross

president hoover s response
President Hoover’s Response
  • President Herbert Hoover initially rejected bold government action in response to the depression:
    • He tried to reassure Americans that prosperity would return
    • He called for volunteerism & “rugged individualism”
president hoover s response1
President Hoover’s Response
  • As the depression worsened, Hoover called for more gov’t action
    • The gov’t issued relief checks to help the unemployed
    • The Reconstruction Finance Corps (RFC) loaned money to failing businesses
    • Building projects like Hoover Dam
  • These efforts did not end the depression & many citizens lost faith in President Hoover
slide58

The Bonus Army 1932

Who?

  • 15,000 WWI veterans

What?

  • Marched to Washington D.C. to get a $ bonus they were supposed to receive in 1945
slide59

The Bonus Army 1932

What did Hoover do?

  • Called out the troops, Army dispersed the Bonus Marchers
conclusions
Conclusions
  • The Depression of the 1930s came as a shock to Americans:
    • When the stock market crashed in 1929, businesses closed & millions were unemployed
    • Americans lost faith in Hoover & began looking for new leadership & a more active government to solve their problems