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Election of 1932

Election of 1932. President Herbert Hoover Trickle Down Vs Franklin Delano Roosevelt Pump-Priming. Election 1932. Herbert Hoover- Trickle Down Franklin Deleano Roosevelt- Pump-Priming Who would you vote for?. Mass production Assembly line (jobs) Consumerism Land speculation

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Election of 1932

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  1. Election of 1932 • President Herbert Hoover • Trickle Down Vs • Franklin Delano Roosevelt • Pump-Priming

  2. Election 1932 • Herbert Hoover- • Trickle Down • Franklin Deleano Roosevelt- • Pump-Priming • Who would you vote for?

  3. Mass production Assembly line (jobs) Consumerism Land speculation Buying on margin Overproduction Unemployment no $$$ to buy Property values ↓ Stock market collapses Setting the stage for Depression

  4. Depression • Massive unemployment causes many people out of homes, leaves them hungry, and with no options • “Hoovervilles”- shanty-towns found across the nation • Young people didn’t marry/go to college

  5. Economy during the 1920s • 1923-29- Economic prosperity • Inflation barely occurred • Per capita income rose 30% • Americans were buying more • Gross National Product increased 40%

  6. Business Cycle

  7. Stock Market Crash • Black Thursday (Oct. 24, 1929) • Black Tuesday (Oct. 29, 1929) • Lost $14 billion in value ($30 billion in all) • Examples- • U.S. Steel - Sept. 3, 1929- $262 a share Nov. 13, 1929- $138 a share • General Motors - $73 to $8

  8. Hoover’s Responses • Rugged Individualism • Encouraged businesses to maintain high wages • Promote Charity • Reconstruction Finance Corporation • Loans to the states for public works and unemployment relief

  9. Bonus Army March

  10. Bonus Army • Who? • What did they want? • Did they get it? • What was the outcome?

  11. Hoover’s Controversial Response

  12. Franklin Deleano Roosevelt

  13. Early Political Career • 1910- New York State Senate • Reelected for second term in 1912 • Resigns March 17, 1913 • Appointed Assistant Secretary of the Navy • By Woodrow Wilson (1913) • Developed longtime affection for the navy • Ran for Vice President in 1920 • Lost and retired to a New York law practice

  14. Governor of New York • 1928-1932 • Reform governor- • New social programs • Created relief programs • Gathered advisors

  15. 1932 Presidential Election • America was in the midst of the Great Depression • Unemployment raises to 25% (1 out of 4) • “I pledge you, I pledge myself, to a new deal for the American people” • Creates “New Deal” concept of getting America out of depression through social programs

  16. Is Obama the next FDR?

  17. Or the next Hoover? • Can’t fix unemployment.

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