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Crash and Depression chapter 14-15 review

Crash and Depression chapter 14-15 review. The 1920’s In hindsight. President Harding & Coolidge Both favored business over labor Raised tariffs on exports After WWI gov. no longer regulated prices of goods New machinery for farmers = McCormick reaper Allies not able to pay war debts

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Crash and Depression chapter 14-15 review

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  1. Crash and Depressionchapter 14-15 review

  2. The 1920’s In hindsight • President Harding & Coolidge Both favored business over labor • Raised tariffs on exports • After WWI gov. no longer regulated prices of goods • New machinery for farmers = McCormick reaper • Allies not able to pay war debts • Trickle Down economics

  3. Black Tuesday • October 29, 1929- stock market crashes • 40 billion dollars lost in 2 months • Suicide rates jumped …“for Sleeping or jumping” • 4 million workers lost jobs in one year

  4. Hoover provided the following state and local relief programs business maintaining wages and employment private volunteer efforts emergency financing for banks and railroads Hoover and the Depression

  5. Economic indicators farm prices (went down) national income (went down) earnings (went down) unemployment (went up) - “trickle down theory” Hoover and the Depression

  6. “Bank Run”

  7. Hoover and the Depression • Bonus March summer of 1932 • WW I veterans tried to pressure Congress to pay them their retirement bonuses early.

  8. Today we're living in a shantyToday we're scrounding for a meal [SOPHIE]Today I'm stealing coal for firesWho knew i could steal? [MEN]I used to winter in the tropics [WOMEN]I spent my summers at the shore [FRED]I used to throw away the paper-- [ALL]We'd like to thank you: Herber HooverFor really showing us the way We'd like to thank you: Herbert Hoover You made us what we are today Prosperity was 'round the corner The cozy cottage built for twoIn this blue heaven That youGave us Yes! . We're turning blue! They offered us Al Smith and HooverWe paid attention and we choseNot only did we pay attention We paid through the nose In ev'ry pt he said "a chicken" But Herbert Hoover he forgot Not only don't we have the chicken We ain't got the pot! Hey Herbie [WOMEN]You left behind a greatful nation[ALL]So, Herb, our hats are off to youWe're up to here with admiration [SOPHIE]Come down and have a little stew [ALL]Come down and share some Christmas dinnerBe sure to bring the missus tooWe got no turkey for our stuffingWe'd like to thank you, Herbert Hoover For really showing us the way You dirty rat, you Bureaucrat, youMade us what we are todayCome and get it, Herb! “We’d Like to Thank You Herbert Hoover”

  9. Children & The Depressionif I leave my mother, it will mean one less mouth to feed” • Poor diets • Schools closed • Hit the “tracks”

  10. The Dust Bowl • Over plowing of land had depleted the soil • Drought and high winds of the 1930’s = disaster • “Okies” headed west on route 66 to California

  11. Age of FDR

  12. name FDR gave to his new program to fight the Depression Step 1 BANKING HOLIDAY- banks shut down and subject to gov't inspection, allowed to open when "healthy" The New Deal

  13. step 2 - stock market reform- Security Exchange Commission est. to police the NYSE buying on margin was regulated • step 3 - FDR went off the GOLD STANDARD w/ more $ in circulation, wages and prices increased

  14. Alphabet Soup • NATIONAL INDUSTRIAL RECOVERY ACT (NIRA) and NATIONAL RECOVERY ADMIN (NRA) were to fix problems between labor & business • no child labor banned, shortened work hours • business people challenged the NRA, claiming it was communist • Social Security Act

  15. TENNESSEE VALLEY AUTHORITY – used to lower electrical rates fed. gov't. took ownership (nationalization v. privatization)

  16. The Annual Moveby Otis Dozier, 1936

  17. Construction of the Damby William Gropper

  18. 2nd Term in office • first objective: to reorganize the Supreme Court - they disallowed some New Deal legislation • FDR wants # of judges changed from 9 15 (to "pack the court")

  19. IMPACT OF THE NEW DEAL more gov't involvement democracy?? Or socialism??? New Deal helped in stimulating the U.S. economy New Deal saw expansion of U.S. gov't in : 1) economy 2) social reform

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