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The Great Depression: America Struggles to Recover

The Great Depression: America Struggles to Recover. U.S. History Notes Mr. Douglas. President Hoover – The Wrong Man at the Wrong Time!. President Hoover believed the economy should be allowed to heal itself. Hoover felt government should play a role but should not take too much power.

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The Great Depression: America Struggles to Recover

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  1. The Great Depression:America Struggles to Recover U.S. History Notes Mr. Douglas

  2. President Hoover – The Wrong Man at the Wrong Time! • President Hoover believed the economy should be allowed to heal itself. • Hoover felt government should play a role but should not take too much power.

  3. Hoover Takes Action…Sort Of! • Hoover was a firm believer in rugged individualism. People should be allowed to succeed through their own efforts. • Felt individuals, charities, and local organizations would help the poor.

  4. Hoover Becomes a Scapegoat • Hoover did very little about the Stock Market Crash. • Unemployment continued to rise and the economy kept shrinking! • Americans began to blame Hoover for the Depression.

  5. What did Hoover Do? • Boulder Dam – Congress approves $800 million to put people to work. • Glass-Steagall Banking Act – made loans easier to get. • Federal Home Loan Bank Act – lowered mortgage rates and allowed farmers to refinance to avoid foreclosure. • Reconstruction Finance Corporation – “trickle down economics. Support the businesses and hope the money made it down to the average people.

  6. President Roosevelt and the New Deal • Franklin D. Roosevelt wins the 1932 election. • America was ready for a change in leadership. • Roosevelt promised a “New Deal”. • The 3 R’s – Relief, Recovery, and Reform.

  7. The First 100 Days • March 5, 1933 – Roosevelt declares a bank holiday. • Congress passes the Emergency Banking Relief Act. • Only banks that could prove they were safe could reopen.

  8. Roosevelt Calms Our Fears • March 12, 1933 – Roosevelt broadcast his first “fireside chat”. • Many Americans felt the President was talking directly to them. • Encouraged people to return their savings to the banks. • Approved the sale of some alcohol = taxes. http://www.whitehousetapes.org/archive/RG01_wh_recordings/S01_fdr/speeches/firesidechat_01.mp3

  9. New Deal – Relief, and Recovery • The government created alphabet soup to help those in need. (refer to chart from class activity) • Roosevelt also encouraged businesses to work together to help the economy. (NIRA)

  10. New Deal Opponent – The Supreme Court • In 1935-1936 the Supreme Court said the NIRA and the AAA were unconstitutional. • Argued it gave legislative power to the president and involved the federal government in state matters. • Roosevelt proposed a court-packing scheme. Wanted to reorganize the Supreme Court and allow him to appoint six new justices • Cost Roosevelt credibility.

  11. New Deal Helps Some Minorities

  12. Good Times During the Depression? • By the end of the 1930’s about 65% of all Americans went to the movies once a week. • Provided an escape. • 90% of American homes owned a radio. • Relied on for news, entertainment,drama and children’s shows.

  13. Arts Flourishes • Funded by the Federal Writers Project and Federal Art Project (part of the WPA). • Many out of work artists paid to paint murals and write state and city guides. • Some even put on plays and wrote novels (The Grapes of Wrath – 1939)

  14. POSITIVE Improved workers rights Helped farmers improve their production Fixed many of the flaws in America’s banking and stock market that led to the crash. Created Social Security Benefits. NEGATIVE Government expanded - Became more involved in people lives America created the beginnings of its debt. Some of the New Deal agency ignored their impact on the environment (TVA) Depression only truly ended with the start of World War II. Lasting Effects of the New Deal

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