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Chapter 23
The Great Depression and the New Deal
I can understand how the Great Depression affected the American People and changed the role of government
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Bullet Points p. 795 Read pgs. 770 - 775
Ch 23, Sec 1Hoover and the Crash
•I can understand how the economy collapsed after the stock market crash
Remember??
• Mining, RR’s, clothing, agriculture all declining
BUT• Stock prices rising• Buying on credit and margin
Watch Out
• This works as long as you can sell your stock and still pay the margin.
• That means stock prices HAVE TO rise• Oct. 23, 1929, stock prices fell• Market crashed completely, Oct. 29,
1929 – BLACK TUESDAY
CAUSES OF DEPRESSION
• Stock market crash – investors lost $• Overproduction• Farms go bankrupt, can’t pay loans• Banks fail – depositors lose $• Business close• Foreign countries can’t pay debt
Human Cost
• Unemployment 1929-1933, 3% to 25% (25 mil)
• City people hit hard• Salaries cut• Poverty• People lost homes
Hoover
• Thought all would work out• Urged local gov’t, business and
charities to help• Finally – The Reconstruction
Finance Corporation• Didn’t work
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Bullet Points p. 795 Read pgs. 776 - 781
Ch 23 Sec 2Roosevelt and the New Deal
• I can understand how Franklin Roosevelt responded to the Great Depression
F.D.R.
• Elected President Nov. 1932, took office in 1933
• Created the New Deal• Became a popular
President
F.D.R.
• Closed banks for 4 days• Got Congress to pass the
Emergency Banking Relief Act on March 9, 1933
• Talked on Radio, Fireside chats
JOBSGOVERNMENT AGENCIES
• F.E.R.A. – Financial help for unemployed
• C.C.C. – hired jobless men for conservation projects
• W.P.A. – Hired people to build government projects
Economic Recovery• N.R.A. – Stabilize
prices, increase employment
• P.W.A. – hired people for government projects
• T.V.A. – build dams
Obstacles
• Supreme Court – Ruled some reforms unconstitutional
SOLUTION• Roosevelt tried to increase
court members and appoint people who agreed with him
Outcome
• Congress said NO!?? – Does the Constitution say how many members on Court
• NO!! But Congress disagreed• What does this say about FDR?
Critics• Francis Townsend
– Gov’t pensions. Every retired person gets $200 per month
• - Did not pass but led to Social Security
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Bullet Points p. 795 Read pgs. 782 - 787
Ch 23 Sec 3Life in the Great Depression
•I can understand how the Great Depression affected daily life
An active First Lady• Who is the First Lady?• Eleanor Roosevelt transformed job• Became an activist
-Eyes and ears of President- Speeches on radio, wrote newspaper articles- Championed women’s rights
African Americans
• Cotton prices down• African Americans lost jobs• Moved to cities in south• Whites held jobs• 50% unemployment
F.D.R. – Mixed record• African Americans supported
F.D.R.• Appointed 100 African Americans
to gov’t jobs• Unofficial black cabinet – Advised
F.D.R. on African American issues
F.D.R. Mixed Record
• Did not support Federal Anti-Lynching law – WHY?- Afraid of losing white Southern Senators vote on New Deal programs
• Did little to support minority rights including Mexicans (now being deported)
Symbolism• African American singer,
Marian Anderson denied opportunity to sing at D.A.R. Hall – 1939
• Eleanor Roosevelt quit D.A.R.
• Arranged performance At Lincoln Memorial – Easter – 75,00 attended
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Bullet Points p. 795 Read pgs. 790 - 793
Legacy• Labor –
Right to organize without being firedCollective bargainingMinimum wage – Maximum hoursRestricted child labor