Unit 6 Notes: the Great Depression

Name ______Date ______Period___

Unit 6 Notes: The Great Depression

•  Herbert ______: President ______

•  BLACK Tuesday - October 29, 1929 ______

•  STOCK MARKET CRASHED- start of the ______

▫  Buying on ______- borrowing money from a ______to buy a stock

•  Bull Market ______vs Bear Market ______

BANKING CRISIS - Banks______money to stock brokers

•  Stock Market ______People could not pay ______from buying on Margin, Brokers could not pay______, Banks ______, peoples savings were ______.

•  ______- People lined up to withdraw their money, 3,800 banks failed 1931-32, 1/5 of the nations banks failed

Overproduction and Underconsumption

•  Overproduction- making too many goods

▫  ______

•  Underconsumption- people not buying as much

▫  ______industry hit hard

•  Wealth Gap

▫  Wealthiest _____ received _____ of the money

Government worsens Great Depression

•  Federal Reserve System- ______, controls the money supply

▫  ______Rate: Rate of ______banks can borrow money from the federal reserve

  Fed ______Discount Rate (Interest Rates)----- ______the Money Supply---- business ______---- unemployment ______

•  Hawley Smoot Tariff Act- law raising ______

▫  Tariff ______--- ______trade--- worsening the great depression

CAUSES OF THE GREAT DEPRESSION B—O—U—S—T

•  ______

•  ______

•  ______

•  ______

•  ______

Bonus Army

•  ______requested early retirement payment and marched on Washington

•  President Hoover ordered the ______to regain control, losing support from the veterans

Ideology- beliefs and values

RADICAL / CONSERATIVE / LIBERAL
______/ ______/ ______
- Encouraged by the working class to rebel against greed capitalists
-  EX: Communism, Socialism
-  ______/ - Tradition
-  Belief in the business cycle, a recovery will follow a recession and/or depression
-  ___Government Intervention / -Expansion of Liberty
-Public Works Projects – government funded projects to provide jobs
-Social welfare programs to provide those in need
- ______government intervention

Hoover’s Response - ______Government intervention

▫  ______- shantytowns that homeless people built out of cardboard and tarpaper

•  Relied on ______

•  RFC- ______Finance Corporation

▫  ______Theory

FRANKLIN DELANORE ROOSEVELT: President elected in ______

•  NEW DEAL- program of ______

•  ______- Congress passed a record number of bills implementing the New Deal

Human Impact

•  _____ unemployed- few could earn a ______(wage high enough to provide an acceptable standard of living)

•  Farmers lost their ______- property values depleting

▫  ______- legal process of a lender (bank) taking over a property

•  Unemployment led to psychological problems

▫  ______rate down

▫  Birth rates down

▫  Divorce Rates down (______)

▫  ______rate up

▫  ______left home

•  ______- legal process where landlords remove tenets, Eviction rates rose

•  Malnutrition- psychological condition from lack of adequate ______

•  ______and ______- Sprang up around the country, 82 in NYC

Dust Bowl- area of the ______that suffered from a drought, wind erosion, and poor farming

▫  Black Blizzards- ______

▫  ______- land becoming desert like

▫  Depopulation- loss of ______from an area

  ______- novel by John Steinbeck about a family leaving the great plains during the dustbowl

  Okies- people who followed ______toward California, 300,000 left the Plains

Great Flood 1936: Great Flood- Devastating flood in ______that resulted from a series of record- breaking storms in March 1936

Americans survival - Americans sold anything they cold for money, cut corners financially, and did whatever they could to avoid receiving ______

•  ______Assistance- aid in the form of money, goods, or services that government provides to those in need

NEW DEAL and it LEGACY: The ______New Deal

▫  ______with 60 Million radio listeners

  Emergency Banking Act- ______

  FDIC (Federal ______Corporation) $5000

  Securities and Exchange Commission- ______

  National Industrial Recovery Act (NIRA)- ______of New Deal, goal: increase production, boost wages and prices. Aimed at Businesses, labor unions, and the Unemployed

Businesses / Labor Unions / Unemployed
National Recovery Act (NRA)
Required standardized products, minimum ______and announce price ______/ NIRA guaranteed unions ______and minimum wages and maximum hours / NIRA allotted 3.3 billion dollars for ______
Public Works Administration (PWA)- oversaw construction jobs

NEW DEAL ACTS

•  AAA (______ACT)

▫  Aid farmers by ______crop production and raising prices, also helped farmers pay their mortgage

  ______: Price that gives farmer purchasing power

•  TVA (______Valley Authority)

▫  Built series of ______in the Tennessee River Valley to create jobs, controlled floods, stopped erosion and provided ______to 7 Southern States

•  Home Owners Loan Corporation- provided ______

•  FHA(Federal Housing Administration)

▫  Boosted banking by insuring ______to 80% of the homes value

•  CCC (______Corps)

▫  Employed young men ______and working on conservation projects

•  FERA (Federal Emergency Relief Administration)

▫  Sent money to the ______governments to distribute money to the ______

Responses to the New Deal

•  ______Winged Response- Conservative critics of the New Deal, thought it went ______

•  ______Wing Responses- Liberal Critics who believed FDR needed to ______

•  ______- Huey Long “Every Man a King”

The Second New Deal

•  Electricity and Jobs- 1935 20% of farmers had electricity, New Deal created power plants, power lines, and 90% had electricity by the end of the decade

•  WPA (Works Progress Administration)- Work relief program which put 3 million Americans to work.

▫  ______, artists for murals, guidebooks and folk music

Supreme Court Attacks New Deal

•  ______(National Labor Relations Act)- protected workers right to organize into unions, It continued the NIRA policies after it was considered ______

Social Security Act: Created a social insurance program that provides two main types of benefits:

▫  ______and -______

•  FDR: Packing the ______

•  FDR attempted to ______more justices to the supreme court due to their inability to keep up with the work-load (______), when obviously he just wanted ______to back the New Deal

New Deal: Good and bad for whom?

Workers / Women / African American / American Indians / Mexican Deal
______Deal / ______Deal / ______Deal / ______Deal / ______Deal
Unions stronger
CIO- Congress of Industrial Organization- union established to organize workers by industry rather than occupation / FDR, put many women in his administration thanks to Eleanor
The Economy Act of 1932- no Husband and wife working in fed gov. Women exclusion from unions / CCC and WPA helped African Americans survive, some New Deal agencies practiced racism and segregation. Eleanor took a stance on racism / Indians were living in poverty.
John Collier, Commissioner of foreign affairs stopped assimilation and Indian cultural awareness and healthcare improved. Indian Rec. Act. / Mexicans faced poverty and unemployment. The AAA cut down on farming which forced them to move into cities. They could not enroll in gov. programs (illegal) deported?

New Deal Coalition

•  A ______formed during the 1930s among various social and political groups in support of the New Deal, democratic party, and FDR

New Deal Legacy

•  Economic Security: New Deal promised people the right to a ______, adequate wages, a decent ______, medical care, and a good ______

•  Welfare State- A social system in which government takes responsibility for the economic ______of its citizens

▫  The Federal Government is now ______involved in the economy

▫  ______: Spending more than the government receives in revenues. He Financed the deficit by borrowing money

▫  ______Programs: Social Security, TVA, SEC, FDIC, etc…