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The Great Depression. The Crash of 1929 Financial Panic Causes of the Great Depression Consequences of the Crash The New Deal Historiographic Debates Stages Election of 1936. New Deal Successes Banking TVA and CCC Farmers Labor Backlash
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The Great Depression • The Crash of 1929 • Financial Panic • Causes of the Great Depression • Consequences of the Crash • The New Deal • Historiographic Debates • Stages • Election of 1936 • New Deal Successes • Banking • TVA and CCC • Farmers • Labor • Backlash • Critics: Huey Long and Father Coughlin • Legislation and anti-union violence • Court Packing case • Depression Culture • Works Progress Administration • Popular Front
KKK Membership 1920 4,000,000 1924 6,000,000 1930 30,000 1980 5,000 2008 6,000
The Crash > What Caused the Great Depression? • Financial panic • Stock market crash • Land speculation in Florida and Southern California • Bank failures • Mortgage foreclosures • Sales of new goods stagnated after 1926 • Unequal distribution of income reduced purchasing power • Depression in farming • Europe’s demand for US goods declines • Europe defaults on debt payment • Germany stops paying France and Britain • France and Britain stop paying US • Unavoidable economic cycles or could have been avoided if speculation was curbed and consumption encouraged?
The Crash > “It’s so nice to have Daddy home all the time now,” Life, 1930
The Crash > “Fundamentally, the ship was sound,” New Yorker, 1932
New Deal > Historiographic Debates • 1952, Herbert Hoover • New Deal failed because it “attempted to collectivize the American system of life.” • 1940s-1960s, “liberal consensus” historians • New Deal was a “pragmatic” revolution that expanded the role of the federal government in American life. • mid-1960s, “New Left” historians • New Deal was fundamentally conservative, it could but failed to redistribute power in American society; it protected American capitalism. • 1970s-2000s, contemporary historians • New Deal could not have done more than it did, because of conservative Congress, the lack of adequate government bureaucracy, and localist and antistatist political culture.
New Deal > Stages • 1932 - FDR elected • First New Deal (“the hundred days”) • 1934 - Strike wave • 1934 - Leftist Democrats win the majority in congressional elections • Second New Deal (“the second hundred days”) • 1935 - Supreme Court unanimously declares NRA unconstitutional • 1936 - FDR reelected in a landslide • 1937 - Court-packing • FDR proposes but fails to implement unpopular Supreme Court reform • 1938 - Republicans and conservative Democrats regain seats in the House • As a reform movement, New Deal is over
New Deal > FDR’s Inaugural Address, March 4, 1933 I am certain that on this day my fellow Americans expect that on my induction into the Presidency I will address them with a candor and a decision which the present situation of our people impels. This is preeminently the time to speak the truth, the whole truth, frankly and boldly. Nor need we shrink from honestly facing conditions in our country today. This great Nation will endure as it has endured, will revive and will prosper. So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory. I am convinced that you will again give that support to leadership in these critical days. In such a spirit on my part and on yours we face our common difficulties. They concern, thank God, only material things. Values have shrunken to fantastic levels; taxes have risen; our ability to pay has fallen; government of all kinds is faced by serious curtailment of income; the means of exchange are frozen in the currents of trade; the withered leaves of industrial enterprise lie on every side; farmers find no markets for their produce; the savings of many years in thousands of families are gone. More important, a host of unemployed citizens face the grim problem of existence, and an equally great number toil with little return. Only a foolish optimist can deny the dark realities of the moment.
New Deal > Song from Thanks a Million, 1935 They started up the NRA to keep the big bad wolf away Then FDR began to be a headache to the GOP Now that codes are everywhere we’ve got initials in our hair The farmer’s IOU is O.K. since Congress formed the AAA The CCC chops down a tree and sells it pronto FOB … The RFC and NHA led millions to the AAA The AAA has crops it cuts and all of us are going nuts! --- NRA - National Recovery Administration AAA - Agricultural Adjustment Administration CCC - Civilian Conservation Corps RFC - Reconstruction Finance Corporation NHA - National Housing Authority FDR - Franklin Delano Roosevelt GOP - Grand Old Party FOB - Freight on Board
New Deal > Literary Digest and Gallup polls on 1936 election Literary Digest Final Poll Landon 57% Roosevelt 43 States for Landon 32 States for FDR 16 A.I.P.O. (Gallup) Final Poll Roosevelt 55.7% Landon 44.3 States for FDR 40 States for Landon 6 On the line 2 Election Results Roosevelt 61% Landon 49% States for FDR 46 States for Landon 2 January 1936 Gallup Poll By Income Roosevelt Landon Upper third 41% 59% Lower third 70 30 Reliefers 82 18 October 1936 Gallup Poll Farmers Roosevelt 52.6% Landon 42.1% Women Roosevelt 51.4% Landon 44.8% Young People (21–24 Years) Roosevelt 57.4% Landon 38.4% Reliefers Roosevelt 78.8% Landon 14.0%
New Deal > Percentage vote for Roosevelt in black districts, 1932 and 1936
Farmers > Farm Holiday, 1932 and Archibald Willard, The Spirit of ‘76, 1876
Farmers > Traveling from South Texas to the Arkansas Delta, 1936
Farmers > Arthur Rothstein, Steer Skull, Pennington County, South Dakota 1936
Farmers > Arthur Rothstein, the same skull on dry sun-baked earth
Farmers > Arthur Rothstein, the same skull, cows grazing in the background
Labor > Wagner Act, 1935: United Automobile Workers poster addressing Ford workers
Labor > AFL and CIO • AFL • skilled workers only • by craft • anti-immigrant • native-born white male workers only • CIO • all workers, including semi-skilled (majority) • by industry • actively recruited immigrants, women, and nonwhites
Labor > UAW organizers Walter Reuther and Richard Frankensteen pose for press photographers, River Rouge Plant, May 26, 1937
Labor > Reuther and Frankensteen immediately after the incident
Labor > Sit-down strike cartoon, New York World-Telegram, March 1937