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1929WW II

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After the election of 1928, Hoover stated the future that 'It is bright with hope. ... Chased the UNARMED veterans off, injuring many and killing a 11 week old baby ... – PowerPoint PPT presentation

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Title: 1929WW II


1
The Great Depression and the New Deal
  • 1929-WW II

2
Herbert Hoover
  • After the election of 1928, Hoover stated the
    future that It is bright with hope.
  • Main problems overproduction about, especially
    for farmers

3
Black Tuesday
  • Economy showed signs of slowing down in 1927
    based on a reduction in consumer spending, yet
    the stock market still rose!
  • October 29, 1929- 16 million shares traded that
    day (3 million was considered a busy day)

4
From Downright Bullish to Beary Bad
5
1893 Depression
Imperialism
WW I
Depression
GNP Per Year
6
The Country Reacts
Hoover
  • Caution was the watchword
  • Orders fell off
  • wages decreased or ceased
  • Declines in purchasing power brought further cuts
    to business
  • Hundreds of factories and mines shut down
  • Farms go into foreclosure
  • Lax enforcement of antitrust laws encouraged
    monopolies and high prices

7
Hoover Reacts
  • Unlike his popular image, Hoover did NOT want to
    sit by and just let events take their course
  • In fact, he did more than any previous president
    had ever done before in such dire circumstances
  • Main problem he would not relinquish his belief
    that there needs to be limits on government
    involvement
  • He hurried the building of public works to
    provide jobs
  • Modest tax cut to help increase spending

8
Built from 1931-1935. Total Bid 49,000,000
9
Tariff
  • Hawley-Smoot Tariff of 1930- established duties
    at an all time high
  • Economists pleaded for him to veto bill
  • Instead of helping, it hurt the farmers because
    it hurt export trade and raised consumer prices

10
Hoover takes the Brunt
  • People turned on the party in power
  • Hoovervilles, Hoover Flags, Hoover Wagons
  • 1930- Democrats gained the first national victory
    since Wilson, winning a majority in the House and
    major gains in the Senate

Hoover Blankets and random children
11
Volunteerism, not Federal Relief
Hoover says, No soup for you!
  • Hoover demanded that each community and state
    should work to relieve the distress
  • He was totally against the dole or direct relief

12
Economics and Europe
  • After a European economic panic based on a major
    bank failure, Hoover placed a one-year moratorium
    on reparations and war-debt payments this
    became permanent

13
Hoover Finally Gives inSort of
  • 1932- he agrees to use government resources to
    help financial institutions
  • Reconstruction Finance Corporation loaned money
    to banks, insurance companies, farm mortgage
    associations and railroads
  • It staves off bankruptcies, but Hoover received
    flack for favoring business
  • Federal Home Loan Bank Act- created discount
    banks for home mortgages

14
Farmers
  • Statistics
  • Bushel of Wheat in 1919 2.16
  • 1929 .32
  • Cotton in
  • 1929 .17 a pound
  • 1932 .05 a pound
  • By 1931, relief had been abandoned when the govt.
    stopped buying surpluses
  • Farmers net cash flow dropped by more than 55
  • From 1930-1934 nearly one million farmers lost
    their farms to the bank

15
Attempts to Fight Back
  • Some farmers threatened to lynch judges who
    ordered foreclosure
  • Others destroyed their crops or refused to
    deliver them to markets in need
  • All failed some even joined the Communist party

16
Bonus Army
  • 15,000 Unemployed veterans of WW I converged on
    Washington in 1932
  • Wanted payment of bonus Congress had voted to be
    paid in 1945
  • Hoover says no
  • Many remain in the Capitol, creating shack towns
    or occupying abandoned government buildings
  • Presence makes Hoover nervous orders buildings
    cleared

17
Bonus Army Continued
  • Shots go off two veteran killed
  • Hoover sends in 700 soldiers under leadership of
    Eisenhower and Patton
  • Chased the UNARMED veterans off, injuring many
    and killing a 11 week old baby
  • Irony one of the men evicted had won an award
    for saving Pattons life in WW I
  • Incident does not improve Hoovers public image

18
http//us.history.wisc.edu/hist102/photos/html/112
9.html
19
Bonus Army Dispersed by Tear Gas
20
FDR Election of 1932
  • In accepting the nomination, FDR commented
    Republican leaders not only have failed in
    material things, they have failed in national
    vision, because in disaster they have held out no
    hopeI pledge you, I pledge myself to a new deal
    for the American people.

FDR as a young man in 1917
21
Campaign Song in 1932 Happy Days Are Here Again
22
Election Results 1932
23
FDR Comes to Office
  • Big difference between Hoover and Roosevelt is
    that Roosevelt was willing to incur deficits to
    prevent starvation and dire want
  • Supported the repeal of Prohibition
  • Takes office March 4th, 1933
  • 20th Amendment- delay time as lame duck president
    now presidents take office on January 20th and
    newly elected Congress on January 3rd

24
Roosevelt Declares War
  • Orders a four day bank holiday to slow rate
    people are withdrawing funds to stop other banks
    from failing. Emergency Banking Relief Act- banks
    that were sound could reopen after 4 days those
    still in trouble were assigned managers. He
    renews confidence in banking through his first
    fireside chat banking crisis was over!
  • I shall ask Congress for the remaining
    instrument to meet the crisis broad executive
    power to wage a war against the emergency as
    great as the power that would be given me if we
    were in fact invaded by a foreign foe.
  • Roosevelts three step program Relief
    (immediate), Recovery (get back to time before
    Depression), Reform (measures to stop it from
    happening again)

25
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27
FDRs philosophy Take a method and try it. If
it fails admit it frankly and try another.
28
Roosevelt Quick to Act
  • December 5, 1933 21st Amendment repeals
    Prohibition
  • Hundred Days- this is what Roosevelt asked of
    Congress and the people in order to put the
    country on the path of relief
  • Congress enacted 15 major proposals unlike
    anything seen before

29
Let the Recovery and Reform Begin
  • Home Loan Act- home owners could refinance for
    lower monthly payment reduce foreclosures
    (continuation from Hoover)
  • Glass-Steagal Banking Act creates the Federal
    Deposit Insurance Corporation (FDIC) to guarantee
    bank deposits up to 5,000 (today, 100,000)

30
Gold is Gone
  • On April 19, 1933 the government abandoned the
    gold standard and made all contracts payable in
    legal tender
  • Gold Reserve Act- authorized the president to
    impound all gold in the Federal Reserve

31
Alphabet Soup
  • Alphabet soup is phrase used to describe FDRs
    numerous New Deal programs
  • Civilian Conservation Corps (CCC)- designed to
    provide jobs to unmarried and unemployed men
    between 18 to 25. Worked in parks, forests, etc.
    Paid 30 a month but 25 had to go home to their
    family
  • Racially segregated
  • In Texas, blacks were told they were ineligible
    so they would not compete with whites for these
    jobs

32
CCC Farming in Maryland 1933
33
CCC Planting out West
34
  • Federal Emergency Relief Act- gave money to
    states through grants rather than loans
  • wanted localities to create work rather than
    the dole most just went with dole because it
    was easier

Squatter, Arkansas 1935
35
Agricultural Adjustment Act 1933
  • Gave money to farmers to cut back on production
  • Pay farmers to destroy livestock and crops

36
Wheres the Bacon?
  • Agriculture Secretary Henry Wallace it was
    troubling to see the spectacle of 6 million
    little ink pigs slaughtered before they could
    reach the full hogness of their hogdom.

37
The Dust Bowl
  • 1932-1935- devastating drought in the plains
  • Caused great displacement and many headed west as
    seen in Steinbecks novel The Grapes of Wrath
  • Impacted Mexican-Americans and African-Americans
    greatly
  • Mexicans- not citizens, so they could not receive
    New Deal benefits
  • African-Americans were sharecroppers and
    usually first to lose their land because need
    less land cultivated under the AAA

38
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39
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40
Okies
  • Dust Bowl refugees (a.k.a. migrant workers) were
    lumped together and called Okies
  • Approximately 800,000 left their states and
    headed West, especially to California
  • California was no paradise a lot of local
    competition from Mexicans and Asians for jobs
  • Met a lot of social prejudice from Native
    Californians
  • Steinbeck Okie usta mean you was from
    Oklahoma. Now it means youre a
    dirty-son-of-a-b. Okie means youre scum.
    Dont mean nothing in itself, its the way they
    say it.

41
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42
Back to the Soup
  • National Industrial Recovery Act (NIRA)- focus on
    recovery through public works
  • Public Works Administration (PWA)- building
    permanent improvements while providing jobs.
    Built Miami to Key West Bridge and the Chicago
    Subway System

43
National Recovery Administration (NRA)
  • Goals (membership voluntary, no membership
    unpatriotic)
  • Stabilize business with codes of fair competitive
    practice (codes did not include farmers)
  • more purchasing power by providing jobs, defining
    labor standards and raising wages
  • Congress passed legislation that set a 40 hour
    week for clerical workers, a 36 hour week for
    industrial workers, a minimum wage of 40 cents an
    hour, abolished child labor and a guaranteed the
    right that trade unions could organize and
    exercise the right of collective bargaining.
    Declared unconstitutional in 1935.

44
  • However, violations of codes became common. and
    attempts were made to use the courts to enforce
    the NRA. In 1935 the Supreme Court declared the
    NRA as unconstitutional.
  • The reasons given were that many codes were an
    illegal delegation of legislative authority and
    the federal government had invaded fields
    reserved to the individual states.

45
Tennessee Valley Authority (TVA)
  • Plan for an entire watershed to be used primarily
    for generating power, flood prevention and
    generating industry
  • Built dams
  • Brought cheap power to this area, especially to
    many farms that had never had electricity
  • Electric lights and modern appliances made life
    easier and farms more productive. Electricity
    also drew industries into the region, providing
    desperately needed jobs.

46
TVA Map
47
New Deal Critics Huey Kingfish Long
  • Senator from Louisiana
  • Share Our Wealth Program- wanted to spread
    wealth equally throughout the country address
    the issue of wealth distribution

48
Father Charles E. Coughlin
  • Founded the National Union for Social Justice
  • radio priest
  • Favored coining silver and attacked bankers with
    comments that often bordered anti-Semitic
  • Both Long and Coughlin pushed FDR to do more
    reform

49
Second New Deal Programs
  • Wagner act- workers given the right to bargain
    through unions of their own choice
  • Social Security Act of 1935- (cornerstone of
    New Deal) pension fund for those over 65,
    established unemployment insurance programs, and
    began a broad range of social-welfare activities
    based on assumption that unemployables would
    remain a state responsibility while the national
    government would provide work for the able bodied

50
Social Security Problems
  • Took money out of paychecks, therefore out of
    pockets, so could not be spent
  • Initially excluded farmers (surprise!), domestics
    and self-employed

51
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52
Works Progress Administration (WPA)
  • This replaced the Federal Emergency Relief
    Administration- this provided money to help the
    unemployed find work in public works and the arts
  • The WPA program in the arts led to the creation
    of the National Foundation for the Arts and the
    National Endowment for the Humanities.
  • "I THINK THAT WE SHALL NEVER SEE / A PRESIDENT
    LIKE UNTO THEE . . . POEMS ARE MADE BY FOOLS LIKE
    ME, / BUT GOD, I THINK, MADE FRANKLIN D."
  • http//www.pbs.org/wgbh/amex/dustbowl/peopleevents
    /pandeAMEX10.html

53
Election of 1936
54
Election of 1936
  • For the first time since the 15th amendment, a
    majority of political active blacks voted
    Democratic
  • One person claimed that their debt to Lincoln
    had been paid.
  • Many believed Roosevelt would lose
  • Critics complained that the economy had become
    too centralized and threatened both individualism
    and American liberty
  • He won in a landslide

55
Court Packing Plan
  • The Court had ruled against 7 of FDRs programs,
    mostly based on too extensive a use of executive
    power
  • FDR feared for his Second New Deal programs they
    were more radical than the first New Deal
  • Congress, not the Constitution determined number
    of justices FDR wanted more
  • FDR wanted to increase the of Supreme Court
    justices from 9 to 16 and decrease power of
    judges who had served for ten or more years

56
  • Even Democrats fought over the implications of
    the plan
  • It blew up in Roosevelts face never went
    through
  • Yet, the court never struck down another New Deal
    Program
  • In 1938 he appointed Hugo Black to the court a
    former Klan member

57
Great Depression Ends
  • Finally, in 1938, FDR asked for 33 billion to
    dump into both the PWA and WPA to help increase
    spending and reverse the once again declining
    economy
  • His failure to adopt an even greater amount of
    government spending, as called for in pure
    Keynesian economic theory, retarded the economies
    ability to fully recover
  • Recovery to pre-1929 levels would occur during WW
    II
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