I Intro
The Great Depression quickly drove the American people into an economic crisis unlike any other in this country before or since. the most overpowering and longest downturn in our history of economics; this threw millions of hard working individuals into poverty. For more than a decade, neither the free market nor the federal government was capable to renovate prosperity.
The Great Depression quickly drove the American people into an economic crisis unlike any other in this country before or since. the most overpowering and longest downturn in our history of economics; this threw millions of hard working individuals into poverty. For more than a decade, neither the free market nor the federal government was capable to renovate prosperity.
II Causes (The causes of the great depression were over-speculation, Government policy, Unstable Economy)
A over-speculation (Define, how important)
- the assumption that property values would rise
- in a bad economy, people loose their money and are unable to pay their loans and they loose money on their investments.
B Govt Policy
- the general principles by which a government is guided in its management of public affairs, or the legislature in its measures. A general term used to describe all contracts of insurance.
- the execution of framework under which governmental and non-governmental organizations work to resolve one or more social, economic or political issues of society.
C Unstable Econ
1 uneven prosperity
- not all people in the 20s were "roaring": African Americans, farmers, and immigrants all faced some difficult times
2 overproduction
- overproduction of products: Wheat
- farmers lost money due to too much produce and not enough consumers.
3 worker issues / farm issues
- many people got laid off during the great depression
- the dust bowl greatly effected the farmers. many had to move to cities and try to get factory jobs which was almost just as difficult.
- the unemployment rate went as high as 25%
III Effects
A Poverty
- the state of being extremely poor
- millions of Americans became unemployed which drug them into poverty
B Society
- crime rates rose very high as the poverty levels worsened. people were in need of essentials and the only way to get them was to steal.
- Suicide rates also rose during this time, the people became so depressed because they felt like they could do nothing to come out ontop of the depression.
C World- changes in quarters
- United States- depression began in 1929-3rd quarter, recovery began in 1933-2nd quarter
- Germany- depression began in 1928-1, and recovery began in 1932-3
- Japan- depression began in 1930-1, recovery began in 1932-3
- Poland- depression began in 1929-1, recovery in 1933-2.
IV Solutions
A Hoover
Hoover: 31st President of the United States; in 1929 the stock market
crashed and the economy collapsed and Hoover was defeated for reelection
by Franklin Roosevelt (1874-1964)
1 Volunteerism
the use or involvement of volunteer labor, esp. in community services.
2 Public Works
he work of building such things as roads, schools, and reservoirs, carried out by the government for the community.
he work of building such things as roads, schools, and reservoirs, carried out by the government for the community.
3 Hawley Smoot
'Smoot-Hawley Tariff Act' U.S. law enacted in June 1930 which caused an increase in import duties by as much as 50%. The Smoot-Hawley Tariff Act goal was to increase U.S. farmer protection against agricultural imports.
'Smoot-Hawley Tariff Act' U.S. law enacted in June 1930 which caused an increase in import duties by as much as 50%. The Smoot-Hawley Tariff Act goal was to increase U.S. farmer protection against agricultural imports.
4 RFC
"reconstruction finance corporation" is an indépendant agency of the US government, established and chartered by the US congress in 1932, act of jan 22 1932, during the a dmi nitration of herbert hoover
"reconstruction finance corporation" is an indépendant agency of the US government, established and chartered by the US congress in 1932, act of jan 22 1932, during the a dmi nitration of herbert hoover
B Roosevelt- 32nd US pres.; reelected in 1936; brought second new deal programs and policy through congress
1 new deal- A series of domestic programs enacted in the United States between 1933 and 1938. They involved laws passed by Congress as well as presidential executive orders during the first term of President Franklin D. Roosevelt.
a alphabet soup
example-FCA- (farm credit administration) to begin helping farmers refinance their mortgages
example-HOLC- (Home owner's loan Corporation) to help home owners pay their mortgages
example-CCC- (civilian conservation Corps) combined roosevelt's love of nature and commitment to conservation with the need to help the unemployed.
example-SEC- (Securities and Exchange Commission) to regulate the stock market and prevent fraud.
b Criticism
2 2nd new deal
- Roosevelt’s New Deal came under attack from the right, from Republicans, conservative Democrats, bankers, and Wall Street financiers who claimed that it doled out too many federal handouts.
2 2nd new deal
a the second new deal was the legislation that roosevelt and congress passed between 1935 and 1938.
b Franklin Delano Roosevelt- 32nd US pres.; reelected in 1936; brought second new deal programs and policy through congress
c the second new deal legislation relied more heavily on the Keynesian style of deficit spending than the first new deal.
V Criticism
B Political Criticism (ex. Came from both the Conservatives and Liberals)
- Many socialist activists denounced the New Deal because they believed that it was too conservative and that it did not provide enough relief and assistance.
A Conservatives-
these critics also feared that the policy and programs involved were a dangerous step toward socialism and the destruction of the American capitalist system.
these critics also feared that the policy and programs involved were a dangerous step toward socialism and the destruction of the American capitalist system.
B Liberals (ex: criticised the new deal also. They….)
- Alfred M. Landon - Kansas governor who ran against FDR on anti–New Deal Republican ticket in election of 1936
Ex- soviet agents in the united states went so far as to launch a "popular Front" campaign to actively support the president.
Ex-Moreover, an unprecedented number of people joined the american communist party during the decade.
VI Effectiveness
A Changes in US-
- Roosevelt altered his policy making in part because of complaints from critics and in part because, by 1935, it was clear that more Americans still needed federal relief assistance.
- more jobs and bank crisis diminished
- helped the public trust the government more
B Unions
- balanced competing economic interests
- The court-packing scheme took a severe toll on Roosevelt’s popularity and marked the beginning of the end of the New Deal.
C Culture
- more and more americans learned about birth control to avoid the added expense of unexpected children.
- mass migration reshaped the american mosaic
- marriages were delayed as many males waited until they could provide for a family before proposing to a prospected spouse. diverse rates dropped steadily in the 1930s
VII Conclusion
The Great Depression met its end due to the programs and policies to mend the nation ( finances, recourses, and people were placed at rest). As the Great Depression began to weaken the American people were placed upon an exceptional challenge: WWII.
The Great Depression met its end due to the programs and policies to mend the nation ( finances, recourses, and people were placed at rest). As the Great Depression began to weaken the American people were placed upon an exceptional challenge: WWII.
