The Great Depression

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The Great Depression

• The 1930s

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The Crash

• Black Tuesday
• Boom marketgtincreased speculationgtgreat sell-off
  Oct 29
• America enters the Great Depression

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Effects

• Bottoms out in 32?
• Full recovery took a decade
• Drop in GDP, bank runs, 25-30 unemployed by 32
• End to Republican dominance
• Reemergence of union movement radicalism

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The Depression Worsens

• Hoovers Policies
• Prosperity will return, part of the cycle
• Relief should come from states and localities

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Actions of Hoover

• Tariff war
• Domestic programs
• Federal Farm Board
• Hold surplus too moderate to stabilize prices
• Reconstruction Finance Corp
• Loans to RRs, banks, insurance cos
• Trickle down

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Protest

• The Bonus Army
• Summer of 32
• WWI vets march on Washington petitioning for army
  bonuses
• Tear gas, tanks, and the end of Hoover
• Farmers rise up
• Hoovervilles

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FDR the NEW DEAL

• Franklin D. Roosevelt was elected in 1932 w/60
  of pop vote
• Calls for a new deal
• Dem majorities in both Houses

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New Deal

• The 3 Rs
• Relief, Recovery, Reform
• The 1st Hundred Days
• Bank Holiday
• Closed until reorganized
• Repeal of Prohibition
• Fireside Chats

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1st Hundred

• Relief
• FERA (Federal Emergency Relief Administration)
• PWA (Public Works)
• CCC (Civilian Conservation Corps)
• TVA (Tennessee Valley Authority)
• Financial Recovery Programs
• Emergency Banking Relief Act
• FDIC (Federal Deposit Insurance Corp)
• HOLC (Home Owners Loan Corp)
• Farm Credit Administration

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1st Hundred

• Industrial recovery program
• NRA (National Recovery Admin)
• Set wages, production levels
• Unconstitutional (Schechter v U.S. 1935)
• Farm production control program
• AAA (Agr. Adjustment Admin)
• Subsidies for non-production
• Unconstitutional

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The Dust Bowl

• The Dust Bowl - farmers crops literally blown
  away or buried
• OK, KS, CO
• Okies head west but find few jobs (fruit picking,
  odd jobs)

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Life During the Depression

• Women lower pay, more working, family strain
• African Americans hardest hit, excluded from
  relief programs, increase in lynchings, little
  support from FDR

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Continued

• Mexican Americans Discrimination in society
  ND, increase in white migrant labor, some return
  to Mexico
• N. Americans John Collier (BIA) brought CCC to
  reservations, NA included in WPA
• Indian Reorganization Act 1934
• Repealed Dawes, NA culture ok, no real NA control

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2nd New Deal

• WPA (Work Progress) 1935 Harry Hopkins,
  bridges, roads, pub buildings
• Resettlement Admin loans to small/sharecroppers,
  housing for migrants
• Nation Labor Relations Act (Wagner) 1935
• REA (Rural Electrification)
• Increased taxes on wealthy
• Social Security Act 1935

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Election of 1936

• Landslide win for FDR
• New Deal Coalition 1930s-60s

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Critic of The New Deal

• Liberals too much for business
• Conservatives socialism!!!
• Demagogues Father Coughlin (National Union for
  Social Justice)
• Dr. Francis Townsend the Townsend Plan gt SS
• Huey Long Share the Wealth
• Assassinated will running for Pres