The Great Depression and the New Deal

Causes:

  • Maldistribution
  • Overproduction
  • Lack of diversity
  • Dawes’ Plan
  • Credit structure
  • Banking system collapsed à stock market crashed

The American People in Hard Times

-Joblessness = shame b/c “personal responsibility”

-relief demand > supply

-farmland à Dust Bowl and the “Okies” who relocated to CA

-End tenant farmers

-Black Shirts, migrations

-People began to adhere more to the traditional societal structures

-“rugged individualism”

-Escapism = movies

-American Communist Party brings national attention to economic problems

 

The Hoover Program

  1. Restore confidence in economy = voluntary cooperation
  2. Use government $$$ to save the day

-Agricultural Marketing Act created a Farm Board in order to maintain farmers’ prices

Hawley-Smoot Tariff: one of the highest tariffs in history

-Hoovervilles!!!!

-Bonus Expidentiary Force demands payment, embarrassed HH

The New Deal

Relief

-Roosevelt’s ebullience, “fireside chats”, and constant public reassurances

-Bank Holiday

-Economy Act

-18th Amendment repealed under 21st

FERA, CCC, PWA, WPA, NYA

Recovery

NRA, AAA, Emergency Banking Relief Act; end of Gold Standard

Reform

  • TVA, Social Security, Wagner Act, FHA, FDIC, Securities and Exchange Commission (SEC), Rural Electrification Act, Fair Labor Standards Act,     welfare: Aid to Families with Dependent Children (AFDC)

 

The Second New Deal: much more radical

–Monopoly hate

–“soak-the-rich”

-National Labor Relations Act

-Labor Unions become militant

-Roosevelt endorses Social Security

-“Brain Trust”

-“court-packing”

Works Progress Administration

-responsible for building/renovating public institutions

-flexible about nontrads

Capture

 

New Deal Reforms: Gov’t now permanently more involved in the economy; preserved capitalism

FDIC

Securities and Exchange Commission

TennesseeValley Authority

Social Security Act

Wagner Act: collective bargaining

Fair Labor Standards Act: minimum wages, maximum hours

FHA

Legacies of the New Deal

-The “Broker State”

-No reform for AA

-“Black Cabinet”

NA Indian Reorganization Act

The New Deal, although able to bring the U.S. economy out of its nosedive, was not able to completely reform everything. Rather, it takes almost the entirety of World War II for the U.S. to come out of its slump.

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2 responses to “The Great Depression and the New Deal

  1. Pingback: Map of the US History Guide | Surviving High School: A Hypocrat in a Perpetual State of Procrastination·

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