depression and new deal chapter 24. election of 1928 herbert hoover – republican alfred e. smith -...
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Election of 1928
Herbert Hoover – Republican
Alfred E. Smith - Democrat
Hoover’s solid reputation, Smith’s anti-prohibition stance that divided Democrats, and the “Coolidge Prosperity” allowed for an easy Republican victory
Hoover’s Beliefs
Hoover believed in limited federal government intervention, and generally left problems to the state and local governments, as well as voluntary associations and big business (which he did not regulate)
Great Depression EventsEvents leading to the
Depression were:
1) 1928 – Wave of stock investors speculating on borrowed money bought stocks in the hope of quick profits
2) Oct, 1929 – Black Thursday and Black Tuesday stock market crash and runs on the bank to get money out
Stock Market Crash
The stock market and the economy continued to go down throughout Hoover’s Presidency
Causes of the Depression1) Buying stock and consumer goods with borrowed
money (on credit through the installment plan) leading to debt for consumers and overproduction for businesses (who think more people are buying)
2) Uneven prosperity of the 1920s (rich get richer, poor aren’t helped, farmers suffer)
3) Lack of Global Trade – high tariffs in the US and in other nations hurt trading opportunities and Europe’s lack of money during the 1920s means that we can’t get bailouts from them
Hoover’s Response
Hoover believed that the economy would turn by itself and it took until late in his Presidency to spend federal money
He advocated for the Hawley-Smoot Tariff (raised tariffs which hurt more), Suspension of debt payments from Europe, the Federal Farm Board to help farmers, and the RFC gave emergency loans to important businesses that were failing
HoovervillesHoover’s lack of action led to homelessness and the development of shantytowns, which poor people referred to as Hoovervilles
The Bonus Army IncidentHoover also refused to give federal aid to farmers and drove away the Bonus Army (wanting their WWI bonuses)
Election of 1932
Republican – Herbert Hoover
Democrat – Franklin Roosevelt
Hoover’s lack of popularity and Roosevelt’s promise for a “New Deal” with spending cuts, the end of prohibition, and unemployment aid helped him win easily
To make matters worse for Hoover, the 20th Amendment was passed to remove him from office quicker
Roosevelt’s Presidency
Roosevelt focused on the three R’s: relief, recovery, and reform and in the first hundred days proposed several plans that Congress passed known as the First New Deal
He put around him a Brain Trust of Individuals:
John Nance Garner – Vice President, Eleanor Roosevelt – First Lady, Secretary of Labor – Frances Perkins, Interior and PWA head – Harold Ickes, Agriculture – Henry Wallace, Treasury – Henry Morgenthau, NRA – Hugh Johnson, RFC – Jesse Jones, CWA – Harry Hopkins
Roosevelt’s Fireside Chats1. On the Bank
Crisis - Sunday, March 12, 1933
2. Outlining the New Deal Program - Sunday, May 7, 1933
3. On the Purposes and Foundations of the Recovery Program - Monday, July 24, 1933
A “Chat” with FDR
Roosevelt’s Fireside Chats were designed to connect with citizens and explain to them what his programs were. With your New Deal Program write a radio broadcast explaining:
1) The reason why the program is needed (what was the cause of this problem in the first place)
2) How this program will solve the problem (what it will actually do, how it will help)
New Deal and the Budget
• Budget Expenditures
-FDIC, HOLC, FCA, CCC, FERA, AAA, PWA, RFC, TVA, CWA, WPA and FTP, Farmer’s Administrations
• Budget Balancers
-Revenue Act (raising taxes on wealthy) and Social Security Act
Opposition to the New Deal
While most people backed Roosevelt:
1) Conservatives claimed FDR was socialist, hurt business, and increased the deficit (American Liberty League)
2) Liberal Demagogues claimed he needed to nationalize banks (Coughlin), give money to retired people (Townsend), and that a “Share Our Wealth” program should be adopted (Huey Long)
Election of 1936Roosevelt’s new programs won him a coalition that consisted of the Solid South, immigrants, farmers, labor, minorities, elderly, but not big business (pro-union, Revenue Act)
The national strength of his coalition showed in his overwhelming victory
The “Court-Packing” Bill
The 1932 Supreme Court
Despite Roosevelt’s political success, he was unhappy that the 1930s Supreme Court ruled his programs unconstitutional, and called for a bill to replace the justices with new ones
Roosevelt failed and his opponents accused him of “court-packing”, but he did ultimately get his wish as many retired in the late 30s
The Recession of 1937Caused by the Social Security Tax and cutbacks on government spending to balance the budget because it tightened the economy
Afterwards, Roosevelt adopted Keynesian economics and used deficit spending
Dust BowlThe psychological impact
of the Depression caused stress to millions, especially:
1) Farmers with the Dust Bowl (many leave for California)
2) Families and Women with home duties and needing to supplement family income (birth and marriage rates down)
Unions in the 30s
Labor Unions were helped by the New Deal with the organizations of the AFL (skilled labor) and the CIO (unskilled workers) that won strikes (General Motors Strike in Flint, MI) and cases (US v. Darby Lumber Co. which upheld child labor laws)
Depression Gains and Setbacks
1) African-Americans faced racial discrimination that made them the last hired and first fired, and they were purposefully excluded from some programs due to Roosevelt’s commitment to the South, but nonetheless voted overwhelmingly Democratic due to getting some New Deal help, appointments to federal positions, and the Marian Anderson concert
2) Mexican-Americans were discriminated against and the amount of immigrants slowed dramatically once there was a lack of work
3) Native Americans were helped by the Indian Reorganization Act and John Collier, both of which worked to give the natives back control over their lands
Escaping the Depression – 30s Culture
Judy Garland in “The Wizard of Oz” (1939) and Walt Disney with the Seven Dwarves (1937)
An even more homogenous culture existed in the 30s with radio and movies providing avenues of escape from life (usually comedies), but growing apprehension was clear with the “War of the Worlds” radio announcement about an invasion from Mars
Orson Welles’s War of the Worlds
Artists and Architects
Streamlining buildings allows for air to better travel around it
Writers admired American resilience and the enduring of capitalism, and were backed by the government (WPA, FTP) to produce nationalist writing, art, and music (jazz, swing) projects
Architects developed streamlining, which took ideas of functionality and expanded them to develop new designs
In a state of DepressionPick one of the following types of people and create a diary entry
that explains daily life for them in the 1930s. Give at least 3 things for them to do and hardships that they would have had:
1) African-American
2) Mexican-American
3) Artist, Writer, Musician
4) Labor Union Worker
5) Big Businessman
6) Mayor or Governor
7) Farmer
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