election of 1932
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Election of 1932. President Herbert Hoover Trickle Down Vs Franklin Delano Roosevelt Pump-Priming. Election 1932. Herbert Hoover- Trickle Down Franklin Deleano Roosevelt- Pump-Priming Who would you vote for?. Mass production Assembly line (jobs) Consumerism Land speculation - PowerPoint PPT PresentationTRANSCRIPT
Election of 1932
• President Herbert Hoover– Trickle Down
Vs
• Franklin Delano Roosevelt– Pump-Priming
Election 1932
• Herbert Hoover-– Trickle Down
• Franklin Deleano Roosevelt-– Pump-Priming
• Who would you vote for?
Business Cycle
Economy during the 1920s
• 1923-29- Economic prosperity– Inflation barely occurred– Per capita income rose 30%– Americans were buying more– Gross National Product increased 40%
Setting the stage for Depression
• Mass production• Assembly line (jobs)• Consumerism• Land speculation• Buying on margin
• Overproduction• Unemployment• no $$$ to buy• Property values ↓• Stock market
collapses
Depression
• Massive unemployment causes many people out of homes, leaves them hungry, and with no options
• “Hoovervilles”- shanty-towns found across the nation
• Young people didn’t marry/go to college
Stock Market Crash
• Black Thursday (Oct. 24, 1929)• Black Tuesday (Oct. 29, 1929)
– Lost $14 billion in value
($30 billion in all)
• Examples-– U.S. Steel - Sept. 3, 1929- $262 a share
Nov. 13, 1929- $138 a share– General Motors - $73 to $8
Hoover’s Responses
• Rugged Individualism
• Encouraged businesses to maintain high wages
• Promote Charity
• Reconstruction Finance Corporation– Loans to the states for public works and
unemployment relief
Bonus Army March
Bonus Army
• Who?
• What did they want?
• Did they get it?
• What was the outcome?
Hoover’s Controversial Response
Franklin Deleano Roosevelt
Early Political Career
• 1910- New York State Senate– Reelected for second term in 1912– Resigns March 17, 1913
• Appointed Assistant Secretary of the Navy– By Woodrow Wilson (1913)– Developed longtime affection for the navy
• Ran for Vice President in 1920– Lost and retired to a New York law practice
Governor of New York
• 1928-1932
• Reform governor-– New social programs
• Created relief programs
– Gathered advisors
1932 Presidential Election
• America was in the midst of the Great Depression– Unemployment raises to 25% (1 out of 4)
• “I pledge you, I pledge myself, to a new deal for the American people”– Creates “New Deal” concept of getting
America out of depression through social programs
Presidential Election Electoral Map 1932- FDR in Blue
Guess who is Hoover.
FDR’s 1st 100 Days
• Calls Special Session of Congress• Record amount of Legislation passed• New Deal Program divided into 3 Rs• Relief, Recovery, Reform• Relief- Immediate Relief- Bank Holiday, FERA• Recovery- Temporary Jobs- CCC, PWA, WPA, TVA• Reform- Permanent Changes- FDIC, SEC, SSA• Fireside Chats- Uses the radio to explain to the
American public what was going on
The Dust Bowl
Critics of the New Deal
• Huey Long
• Dr. Townsend
• The NAACP
• Fr. Coughlin
• Herbert Hoover
• The US Supreme Court (Schecter Poultry VS the USA (NRA nullified) and Butler vs USA (AAA nullified)
FDR’s Court Packing Plan
• Add up to 6 justices on the Supreme Court for every justice over the age of 70 who didn’t retire
Was Obama the next FDR?