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THEGREATDEPRESSION
Recession—a widespread downturn in the economic success of a nation
Depression—economic collapse in anational economic structure
National Structures—Federal, state, orlocal system of control in economics
=Growth in Growth in Stock MarketStock Market
=Growth in Growth in Stock MarketStock Market
Faith inFaith inProsperityProsperity
Investorsbought stockon MARGIN
Investorsbought stockon MARGIN
& borrowed huge amountsof MONEY that they couldn’t repay
1929
Stock Prices Crashed
Stock Prices CrashedInvestors sold for LOW prices
Stock Prices CrashedInvestors sold for LOW pricesBanks tried to collect loans...
When they couldn’t...FAILEDFAILED
Agricultural Recession (1920-21)
What Caused the Crash?
Agricultural Recession (1920-21)
What Caused the Crash?
World War I Ended
DURING WARDURING WAR
IndustryIndustry BankingBanking CommerceCommerce
AFTER WARAFTER WAR
IndustryIndustry BankingBanking CommerceCommerce
Agricultural Recession (1920-21)
What Caused the Crash?
World War I Ended
Unbalanced Wealth Distribution
Elected 1928Herbert Hoover
Elected 1928Herbert Hoover
Formerly Secretary of Commerce
Elected 1928Herbert Hoover
Formerly Secretary of CommerceAsk business to “step up”
(Didn’t want government interference)
Elected 1928Herbert Hoover
Formerly Secretary of CommerceAsk business to “step up”
(Didn’t want government interference)
Government did increase spending
The “Bonus Army”
HOOVER VS. OBAMA
HOOVERPublic Works
GOVERNMENT SPENDING
OBAMAPublic Works
GOVERNMENT SPENDING
HOOVERHome Loans
GOVERNMENT SPENDING
OBAMAHome Loans
GOVERNMENT SPENDING
HOOVERBanking (RFC)
GOVERNMENT SPENDING
OBAMABanking
GOVERNMENT SPENDING
HOOVERHoover
TAXES
OBAMAObama
TAXES
HOOVERHoover
DIRECT UNEMPLOYMENT
OBAMAObama
DIRECT UNEMPLOYMENT
CHANGE
New York Governor
Roosevelt (FDR)
New York Governor
Roosevelt (FDR)
Successfully fought poverty
New York Governor
Roosevelt (FDR)
Successfully fought povertySuccessfully fought unemployment
New York Governor
Roosevelt (FDR)
Successfully fought povertySuccessfully fought unemployment
REFORM!
FDRHOOVER
16 Mil
23 Mil
DEMOCRATSREPUBLICANS
1. Relief for needy
2. Economic Recovery
3. Financial Reform
100 DAYS100 DAYS
First 100 of FDR’s Presidency
100 DAYS100 DAYS
First 100 of FDR’s Presidency
100 DAYS100 DAYS“The New Deal”
First 100 of FDR’s Presidency
100 DAYS100 DAYS“The New Deal”
Congress passed 15+ pieces
Nation’s FinancesNation’s Finances
FEDERAL GOVERNMENT
Declared “Bank Holiday”
FDR & New-found Power
Declared “Bank Holiday”
FDR & New-found Power
Gave Treasury Department legalauthority to close/reopen banks
Declared “Bank Holiday”
FDR & New-found Power
Gave Treasury Department legalauthority to close/reopen banks
Held execs accountable
Declared “Bank Holiday”
FDR & New-found Power
Gave Treasury Department legalauthority to close/reopen banks
Held execs accountableEstablished FDIC
Amendment2121
Amendment2121
Raised revenue through taxes
Amendment2121
Raised revenue through taxesHurting Society + Legal Booze=$
FatherCharlesCoughlin
Distrustful of Banking
Dr.FrancisTownsend
Massive Government Support for the Elderly
SenatorHueyLONG
“Share our Wealth”
THE WAGNER ACT
WorkersWorkers could join Unions could join Unions
WorkersWorkers could join Unions could join UnionsProhibited threatening Prohibited threatening workersworkers
WorkersWorkers could join Unions could join UnionsProhibited threatening Prohibited threatening workersworkers
Prohibited firing Prohibited firing Union membersUnion members
WorkersWorkers could join Unions could join UnionsProhibited threatening Prohibited threatening workersworkers
Prohibited firing Prohibited firing Union membersUnion membersSet up a board for testimonySet up a board for testimony
WorkersWorkers could join Unions could join UnionsProhibited threatening Prohibited threatening workersworkers
Prohibited firing Prohibited firing Union membersUnion members
Prohibited interfering withProhibited interfering withUnion organizingUnion organizing
Set up a board for testimonySet up a board for testimony
THE FAIR LABORSTANDARDS ACT
40 Hour Week40 Hour Week Minimum WageMinimum Wage
SafetySafetyRulesRules
Union Union GrowthGrowth
Union Membership1934-1937
SIT-DOWN STRIKES
