Crash and Depression

“It came with a speed and ferocity that left men dazed.”

Key Terms

• Business Cycle

-span in which the country grows and then

contracts

• Dow Jones Industrial Average

• Hoovervilles

• 21st Amendment

• Hawley-Smoot tariff

Section 1- The Stock Market Crash of 1929

• Market was up as high as 381 pts Sep. 1929

• The market began to fall, why?

• When the DJIA dropped what happened?

• Terrible Thursday, prices still fell rapidly more investors sold out, Oct 24

• Black Tuesday- Oct. 29, the Great Crash, total losses were around $30 Billion

Pg. 508-509

• The crash affected?

• Unemployment and bank failures, why?

• An underlying cause of the Great Depression?

Pg. 510-513

Rise of the FBI- J. Edgar Hoover

• First Director of FBI

• Public Enemies

• Sexuality

• Death

Depression Era Gangsters- Pretty Boy Floyd- Charles Floyd

• Age 18- $3.50

• 5 years

• The nickname

• Kansas City Massacre

• Death by murder in Ohio?

Baby Face Nelson- Lester Gillis

• Age 12, accidental shooting?

• Nickname

• Escaped

• Helped Dillinger escape?

• Little Bohemia Lodge

• Death in Illinois, 17 bullets

Bonnie Parker and Clyde Barrow

• First meeting

• Robbing and killing

• The end of the duo, overkill in Louisiana

John Dillinger• Early trouble with the law

• 10 years stealing, thanks dad

• Bank robberies

• Wooden gun escape

• Women in Red- Anna Sage

Social Effects of the Depression

• Hoovervilles

• Farmers

• Dust Bowl?

• Starvation, anxiety, poor health

Pg. 514-515

• Discrimination increased

• Loss of jobs?

• Many were sent back to their countries

• Great Migration?

“We do not dare to use even a little soap, when it will pay for an extra egg or a few more carrots for our children.” An unemployed father in Oregon.

Pg. 517

Surviving the Great Depression

• People during the Depression stopped buying on credit

• Farmers lost farms

• Penny Auctions?

Pg. 520-521

• Humor?

• The 21st Amendment

• Effect on gangsters/crime?

Pg. 522

The Election of 1932

• Hoover blamed for Depression

• Bonus Army- 20,000 WWI vets and families who camped in Washington DC

• 1945 pension

Pg. 526-527

• As Gov of NY Franklin Roosevelt worked hard for relief for the homeless

• Election of 1932 FDR(D) against Hoover (R)

• The election’s biggest issue: responsibilities of the Federal Gov.

pg. 528

THE NEW DEAL

“So first of all let me assert my firm belief that the only thing we have to fear is fear itself”

A New Deal

• New Deal- Relief, Recovery, Reform• National Debt- Total amount of borrowed

money the federal gov has yet to pay back• First Hundred Days?• “Bank Holiday”- inspect the financial health

of the banks• Glass-Steagall Banking Act 1933; FDIC

Federal Depositors Insurance Companypg. 537

Relief for the Jobless

• Public Works Programs

• Civilian Conservation Corps

• National Industrial Recovery Act

• FDR helped farmers and homeowners by giving financial assistance, HOLC and AAA

• 1st President to appoint a woman

to a Cabinet post

Pg. 540-541

• Wife Eleanor was a big help

• “Brain Trust”- an informal group of intellectuals who helped devise New Deal Policies

• “Black Cabinet”- unofficial group of African American officeholders

• New Deal falters

Pg. 540-542

Second New Deal

• New and Expanded Agencies

• Works Progress Administration

• Social Security Administration, how are we affected today?

• 1936 Election- FDR and Alfred Landon

Pg. 543-544

Section 2- New Deal’s Critics

• Women- New deal did not protect domestic service; largest female occupation

• “give us some hours to rest in and some Sundays off and pay us more wages”

• “…There is nothing that can be done…to help you and others in this kind of employment.”

Pg. 546

• Father Coughlin

• Huey Long

• Demagogues- leaders who manipulate with half truths and scare tactics

• Supreme Court Packing?

Pg. 547-548

Section 3- Last Days of the New Deal

• Labor Unions- grew stronger under the New Deal

• Sit-down strikes- Supreme court outlawed them in 1939, they were too successful

• New Deal has effects on the culture

• Literature- Their Eyes were watching God 1937, Grapes of Wrath 1939

Pg. 554-556

• Radio and Movies- Jack Benny, George Burns, Gracie Allen; provided a temporary escape for struggling Americans

• Tin Pan Alley?

• Lasting Achievements- Many New Deal agencies, bridges, dams, and buildings exist today

Pg. 558-559