Monday- 1930's Presentations (Iowa Caucus tonight)
- Hoover's Reconstruction Finance Corporation (RFC)- 1932
- Gave loans to banks, state and local govt's, and business' to create projects/jobs for people
- Gave states loans for emergency relief needs
- Stated under Hoover
- Not as successful as Hoover had hoped
- Dissolved in 1946 after WWII
- Under estimated how bad the Depression really was
- Trickle down theory in action
- Boulder (Hoover) Dam
- Boulder Dam (now Hoover Dam) is located near Las Vegas
- The Hoover Dam project including the dam, the All-American Canal, the town of Boulder City, highways, railroads and various other works, cost $165 million to build
- Saw as a president who didn't do much but did a lot more than previous presidents
Tuesday- No School
Wednesday- No School
Thursday- Notes
- Bonus Army
- Former WWI soldiers
- marching in Washington D.C. for their pay
- It's 1932 and they were supposed to get their money in 1945
- Congress doesn't pass the bill (during the worst time of the Depression)
- Strikes and outbreaks in D.C.
- U.S. military comes in with tanks, tear gas used against the former protesting veterans that only wanted their money
- Mac Arthur, Eisenhower, and Patton were involved in the strike
- Made Hoover look uncaring for not giving VETERANS money when they needed it most
- 1932 Election
- Anyone who went against Hoover was going to win
- Franklin D. Roosevelt (D) went against Hoover (R)
- Said he was going to try many things (different than Hoover)
- Relief, Reform, and Recovery
- Relief for the needy
- Economic recovery
- Financial reform
Friday- Notes
- Fireside Chats
- The reports of FDR who gave reports to the people on the radio
- First president to take advantage of this
- Gave people hope that the president was talking to them
- Deficit Spending
- Spending more money than what we bring in
- Before 1920's, we never spent more than what we had (Republican Presidents)
- FDR (D) started to deficit spend
- Priming the Pump
- FDR had to get a bunch of money back into the economy in order to start it back up again
- Caused people to waste their money
- Dumping the money in was like pumping the gas
- Court Packing Bill
- Supreme Court (made of mostly guys over 70)
- only 6 people started to slow the process of the economy
- Tried to add more people to the court in order to get more opinions in
- Not only turned over by the old white guys
- Failed Miserably
- New Deal Challenges
- Created a very powerful president that led Congress, this was a violation of checks and balances
- radical departure from Laissez Faire ideals
- Created "big government"
- Some acts appeared interfering and at worst unconstitutional
- Heavy debt burden- the US was engaged in deficit spending and this was unhealthy for the economy in the long run
- New Deal VS 2nd New Deal
- New Deal
- Restore nation's hope
- Help banks and stock market
- Provide jobs and relief for poor
- Plan and regulate the economy
- 2nd New Deal
- Pass new labor laws
- Create and expand New Deal agencies
- Establish Social Security for the older and unemployed people
- New Deal
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