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1930's

Impact of Great depression
- Few High school degrees
- Trading
  - Around the world went down
- Banks
Presidential Elections
- 32 First Election during the GD
  - Dramatic shift in political alignment
  - Franklin VS Hoover
    - Franklin
      - Democrat
    - Hoover
      - Republican
      - Promised peace for the nation
        So would obviously loose
- 36 Election
  - Alf Landon vs. FDR
    - Landon had no chance of winning
  - "The only thing we have to fear is fear itself"
- FDR's The New Deal
  - Made to improve conditions for people suffering through the depressions
- - Economic Reform
    - Economy improved by 1936
  - Unemployment dropped from 25% to 14%
  - Focused on 3 R's (Relief, Recovery, and Reform)
  - Generated more money
- Acts
  - Home Owners Loan Act
  - National Housing Act
  - Fair Labor Standard Act
  - Civilian Conservation Corps
  - Social Security Act
President Hoover and The Great Depression
- "Hoover the worst president in US history"
  - Not really
- Things he did
  - Founded Government Agencies
  - Encouraged Labor Harmony
  - Supported Local Aid for public works
  - Struggled to balance Budget
    - Hoover's Rugged individualism
  - Organized the National Credit Corporation in 1931.
    - -Encouraged banks to lend to other failing banks in hopes they would recover
  - Federal Home Loan Bank Act
    - -Attempted to provide for new home construction and addressed the struggling housing sector
  - Revenue Act of 1932
    - -Increased corporate and personal income taxes to unprecedented levels
  - Emergency Relief and Construction Act in 1932
    - -Provided government backed loans to banks and created public works projects
  - Smoot Hawley Tariff Act 1929- raised import taxes
Bonus Army
- 43,000 Marchers
  - WWI Vets
    - After the war paycheck
    - in '45 would get paid
    - Wanted Money NOW
    - Wanted the Patman Bill to pass for early payment
    - would sleep in the streets of DC waiting for the Yes or No
  - July 28th, 1932, Hoover ordered them away
    - Hover wanted no Violence
      - Didn't happen
    - US Army met brute Protesters with brute force
Entertainment/Fads
- Radio was HUGE
- Louis Armstrong
- Dancing
- Movies - Hollywood was making bank
  - Gone with the Wind
  - Wizard of Oz
- Sports
  - George Lewis
  - Jesse Owens
    - Won Gold medal in front of Hitler and the Nazi
  - Babe Ruth
- Goldfish Swallowing
  - One guy swallowed 14 goldfish
First and Second New Deal
- First Deal - The stock market plunge
  - Daily Life - 1/4 jobs
  - Presidency - Hoover - though it was temporary
  - F. Roosevelt - Introduced New deal
    - Dignity and Prosperity
- Second New Deal- The rebuild
  - Daily Life- more employment
  - Presidency- FDR More aggressive
  - WPA - Working Progressive admin. - jobs
  - National Labor Act - conditions and rights
  - Social Security Act - Unemployment Insurance child care
- ALL AIMED TO GET OUT OF THE DEPRESSION
FDR vs The Supreme Court
- FDR was mad at Supreme Court for "Slowing Progress"
  - To Fix the problem
    - He proposed to add a new judge for every one judge that is over 70
Critics of the new deal
- Father Charles Coughlin
  - had radio show
    - 40 million listeners
- Francis Townsend
  - Felt that the plan didn't do enough
- Huey "The Kingfish" Long
  - proposed 100% tax of the rich exceeding 1 million dollars
Background of FDR
- School in Germany
- Wealthy
- 11 famous relatives
- Polio
  - Most people didn't know he had it
  - Train only went 35 when he was on it
- Only president to serve 4 terms
- Social security Admin.
  - Started in 1935
  - Still around
  - Type of insurance for the old injured or disabled
  - Only qualified by giving tax from your wages
- Public Works Administration
  - 1933
  - Doesn't exist now
  - Helped build jobs
- National Youth Administration
  - 1935
  - Doesn't exist now
  - Job Opportunity for teen and adults
  - Offered education for work
- Securities and Exchange Commission
  - 1934
  - Still Exists
  - Helped people feel more comfortable about putting into their stocks
- Agricultural Adjustment Act
  - 1933
  - Doesn't Exist Now
  - Told Farmers to lower production and to raise prices for profit
The First 100 Days
- Put an end to great depression
- Get people back to work
- Get Ag back up
- Gets industry going again
- Passed 15 major bills
- Protect the savings
Fireside Chats
- FDR Wasn't actually next to Fireside
- Harry Butcher came up with the name
- Spoke about banking, unemployment, fighting fascism in Europe
- Began with "My Friends"
- Invoked memories
- Played Star Spangled banner at the end
The three RRR
- Relief
  - Aimed to help the suffering and employed American
  - Civilian Conservation Corps
  - Provided Jobs to Millions
- Recovery
  - Was designed to help the economy bounce back from depression
  - National Recovery industrial Act (Guidelines)
    - Minimum Wages
    - Good working Conditions
    - Limited Competition
- Reform
  - Targeted the Cause of the great depression and tried to prevent it from happening
    - Example -
      - FDIC - Guaranteed savings deposits
      - Allowed - Trust
Deficit Spending
- Printing, borrowing, or spending money beyond what is available in a budget
  - Started by Roosevelt
- Astonishing growth rate
  - 14% in 1936
- Eased back - Balance
"Priming the Pump"
- Action taken to stimulate an economy through government spending
- Great depresion - Economy must be primed to function
- Government - thought spending would lead to better economy

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