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America Story of US Depression Ep 9.mp4

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HOOVER VS. ROOSEVELT

1932

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We thought American business was the Rock of Gibraltar. We were the prosperous nation, and nothing could stop us now...Suddenly, the big dream exploded. The impact was unbelievable. I was walking along the street at that time, and you'd see the bread lines....a big truck with several people on it, and big cauldrons of hot soup, bread. Fellows with burlap on their shoes were lined up all around Columbus Circle, and went for blocks and blocks around the park, waiting...This is the man who says: "I built the railroads, I built that tower. I fought your wars. Why the hell should I be standing in line, now? What happened to this wealth I created?"...In the song the man is really saying: 'I made an investment in this country. Where the hell are my dividends?'...It makes him a dignified human being, asking questions ­ and a bit outraged, too, as he should be.

Stud Turkel "An Interview with Yip Harburg

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Republican Platform

1932

In June 1932, Republican delegates convened in Chicago to choose their condidates for the fall election. Spirits were not high. The nation was in the depths of its worst depression and more than 13 million Americans were out of work. Without enthusiasm, the party turned to the incumbents, Herbert Hoover and Charles Curtis, who were renominated without meaningful opposition. The party platform reflected Hoover's desire to stay the course and rely primarily on voluntarism to solve the nation's ills. The platform called for the following: • Sharp cutbacks in federal expenditures; • continued support for high protective tariffs; • adherence to the gold standard • further curbs on immigration; • the payment of pensions to war veterans; • U.S. participation in a scheduled international monetary conference; • on prohibition, no meaningful direction was provided; the party realized that the Eighteenth Amendment was not working as intended, but the platform did not endorse repeal.

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Democratic Platform1932

• A "competitive" tariff designed for revenue, not for protection

• a "sound" currency, but no mention was made of adhering to the gold standard

• extensive banking and financial reform, including regulation of the stock exchanges

• support for veterans' pensions

• aid programs for farmers

• a reduction of federal expenditures and a balanced budget

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Results

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ELECTION OF 1932

"I PLEDGE YOU, I PLEDGE MYSELF TO A NEW DEAL FOR THEAMERICAN PEOPLE"