The Great Depression & New Deal, 1929-1941. Origins and Causes □Extreme wealth inequalities...
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Transcript of The Great Depression & New Deal, 1929-1941. Origins and Causes □Extreme wealth inequalities...
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The Great Depression & New Deal, 1929-1941
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Origins and Causes
□ Extreme wealth inequalities□ Ballooning stock market□ Over reliance on unprotected loans□ Too much speculation & borrowing□ Overproduction and uneven distribution capabilities□ Stock Market crash was a symptom□ Banks lacked money, people lost savings, debts
were called in, no cash□ Production stopped, workers fired, no $,
consumption declined, no profits, more workers fired
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President Hoover
□ Herbert Hoover□ War Reconstruction□ Opposed direct federal
aid□ Self-help & volunteerism□ Self-help cooperatives
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Hoovervilles
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The Bonus Army/March
□ World War One veterans□ Gov’t denied their early pensions□ Marched on Washington, 1932□ Congregated around White House□ Gen. Douglas MacArthur□ Military evicted them from D.C. □ Deep anger at gov’t□ Deep class divisions□ http://www.youtube.com/watch?v=xqevdB
ZCbcQ
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Roosevelt and the New Deal
□ Frederick Delano Roosevelt (FDR)
□ Programs to address the Depression
□ “Relief, Recovery, Reform”
□ Debt spending□ Consume our way
out of the depression
□ Role of government enlarged
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Immediate Responses, 1933
□ “Bank Holiday” & Emergency Banking Act
□ Federal Emergency Relief Act (FERA)■ Federal funds for relief
□ National Industrial Recovery Act (NIRA)■ Fair work and competition codes■ Labor rights
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Financial System
□ Federal Deposit Insurance Corporation (FDIC)■ Insured individual bank deposits
□ Securities and Exchange Commission (SEC)■ Regulated trading practices in
stocks and bonds
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New Deal Programs
□ Civilian Conservation Corps
□ Soil Conservation Service□ Soil Erosion □ Planting trees□ Irrigation and range
management□ Targeted young men age
18-25□ http://www.youtube.com/w
atch?v=qolPqXNGW3I
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Tennessee Valley Authority
Flood control, Electricity, Irrigation, work
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Works Progress AdministrationWPA
□ Biggest agency□ 1935 employed 8 million and
$2 billion fund ■ Bridges, reservoirs, irrigation, sewage,
schools, playgrounds, education, training
□ Work Programs paid minimum wages, pulling people off charity and soup lines
□ “We Work Again”■ http://www.youtube.com/watch?v=Gk0SpT
Oi9Aw
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1935 Social Security Act
□ Safety net for all Americans□ Percentage of paycheck□ Based on shorter life-span□ Intended to supplement (not
replace) income□ Less inclined to “retire”
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Problems with New Deal
□ Favored large industries and business
□ Hurt some small farmers□ Local agencies administered
relief and ran programs□ Relief based on race: scaled
payments
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Propaganda/Education
□ Government Promotional Film□ http://www.youtube.com/watch?v=Aq5UiGdje8U
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Water and the West
□ Bureau of Reclamation□ Hoover Dam
■ Water for L.A., Imperial Valley, Phoenix, and power for region
□ Central Valley Project harnessed the Sacramento River■ Water storage, irrigation, hydro-electricity■ Federal-corporate alliance
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Hoover Dam
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Grand Coulee Dam
□ Columbia River, 1941□ Largest concrete structure in the
world□ Created a 150 mile lake□ Bonneville Power Administration□ Powered 70% of Northwest
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The Dust Bowl
□ Economic and environmental disaster□ Overproduction, monocrops □ Plowed up grasses for farms to meet the
needs of a booming wheat market □ Soil exhaustion, soil erosion□ Drought and winds□ 1935: Blew winds from CO and NE,
blackened the sky across the plains, into the East and Atlantic Ocean
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Responses
□ Killed millions of animals, burned millions of tons of food
□ Taylor Grazing Act ■ Federal control of
grazing
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Migrants: Okies
□ Poor whites and sharecroppers
□ Evicted from OK, TX, MI, ARK
□ Going to CAL□ L.A. Police Chief
“bum blockade”
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Mexican and Okie Farmworkers
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Mexican Repatriation
□ Mexican & Mexican Americans sent to Mexico
□ Nearly 1 million□ L.A. County
deported 12,000□ Colorado deported
20,000
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Indian Reorganization Act
□ IRA, 1934■ Economic & political
assistance■ Business Councils■ Tribal Constitutions■ Bureau of Indian
Affairs, Interior Dept■ Over half rejected it
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Women
□ Eleanor Roosevelt□ Work: women made
less money than men and were discouraged from taking jobs men needed.
□ Patriotic home: conserve, recycle, help America “as a woman” (sewing, canning, etc.)
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African Americans
□ Jobs in gov’t: “Black Cabinet”
□ Sharecropping□ 100,000 blacks evicted
by AAA□ No loans from FHA□ Mary McCloud
Bethune □ http://www.youtube.com/wat
ch?v=Gk0SpTOi9Aw
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“Share the Wealth”
□ Huey Long□ Populist Governor in LA□ Use of radio and sensational claims□ Rhetoric of poverty / class tensions□ Senator□ Share the Wealth□ Social Justice □ http://www.youtube.com/watch?v=mdzAbxsjPRA&NR=1
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Public Art and Culture
□ Federal Writers Project□ Theater□ Oral histories of slavery, folk lore, Indian
stories, Mexican Revolution, cowboys, frontier life, etc
□ National cultural resources and heritage□ Federal Arts Program
■http://www.youtube.com/watch?v=PKsm3SmBBKU&feature=related
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Federal Theatre Project
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Writer’s & Theater Project
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WPA Posters
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Travel through the West
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New Deal Work Mural
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End of the Depression
□ Federal spending on an unprecedented level failed to stop it, but buffered its effects on the public.
□ Expanded role of the federal government in the American economy and increased power of Executive Branch
□ Made the federal government into a “broker state” between labor and capital, and competing economic interests
□ Social programs and “safety net” □ Brought fed gov’t into lives most
Westerners□ WWII ended the Depression
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Comparisons with the Present?
□ Wealth inequalities□ Deregulation□ Bad Home mortgages□ Massive individual debt□ Inflated costs & uncontrolled speculative
investments in commodities□ Collapse of investment-debt-loan system□ A Vicious Cycle:
■ Retraction of loans, increase in job losses, fall in investments, layoffs, decline in consumption, reduced production, layoffs, no consumption…