Please enable JavaScript.
Coggle requires JavaScript to display documents.
Chapter 23 - The Great Depression, The Origins of the Great Depression,…
Chapter 23 - The Great Depression
Thur. Oct. 24, 1929 - stock mkt crashed - NY Stock Exchange crowded - J.P. Morgan & others raised millions to stop crash - didn't work
Oct. 29 - Black Tuesday - greatest fortunes in US disappeared
Not only stock mkt led to depression + inequality, declining demand, rural collapse, overextended investors
Farmers suffered from not being able to pay back loans & poor crops - overextended
Smoot-Haley Tariff 1930 - Herbert Hoover - highest tariff in US history while global mkt suffered - international trade dropped, US imports fell by 78%
PANIC - banks denied loans & tightened credits - banks died
Hoover established President's Organization for Unemployment Relief (POUR) - helped private organizations - later most could not provide sufficient amts. to anyone
Associationism
: assumed American voluntary action - Hoover thought gov. aid would discourage healthy work ethic
1932 - Reconstruction Finance Corporation (RFC) - provided loans to banks, building-and-loan societies, & R.R's
Unemployment & poor wages = poverty for many
Public assistance & private charities could not support the amt. of ppl that needed help - people forced to camp in
Hooverville's
: shacks on outskirts of town
When Depression hit employers less likely to hired married women & ppl already employed - Blacks generally last hired (unemployment 25%, black unemployment ~ 50%)
Start of 1932-1936 - severe droughts in Great Plains area
Exposed over tilled soil turned to dust = Dust Bowl - farmers "baked out, blown out, & broke" - many traveled to CA in hopes of jobs (outmigration) OK lost 440,000 ppl
Migrant Mother
portrait taken in CA 1936 - depicted young mother worried & weary
Grapes of Wrath
- 1939 John Steinbeck captured Depressions dislocated ppl
1935-36 - CA, FL, CO put up border blockades to keep poor migrants out of their states
Congress created the Select Committee to Investigate the Interstate Migration of Destitute Citizens
Many deportations throughout Depression - especially Mexicans
South suffered terribly: had remained low-wage, low-skilled, and primarily extractive
FDR hoped that AAA would benefit Southerners in most need, instead AAA pushed landless southern farmworkers off the land (very lucrative for land owners)
1938 Fair Labor Standards Act (Warner Act) - set a national minimum wage of $0.25/hour
*Typically textile mills in South opposed labor unions
*Tennessee Valley Authority program (TVA) - built hydroelectric dams along Tennessee River (to help economic suffering regions) - said to have helped Southerners a lot
FDR addressed the economic problem in South
1932 - election landslide - Franklin Delano Roosevelt elected (Dem. governor NY) - diagnosed w/ Polio
Roosevelt established Temporary Emergency Relief Administration (TERA)
July 1, 1932 - gave famous speech about "new deal"
March 12 - Roosevelt held 1st Fireside Chat address - talked about new strategies for banking - huge success
Some of recovery programs: Agricultural Adjustment Administration (AAA) & National Recovery Administration (NRA)
Roosevelt's New Deal + programs reshaped nation
Senator Huey Long (Louisiana Dem.) most important "voice of protest" - spurred Share the Wealth program (taking $ from rich to feed poor) - assassinated on senate floor
May 27 1935 - Supreme Court (Black Monday) struck down FDR's reform about poultry processing - courts declared NRA unconstitutional - AAA fell shortly after
Summer 1932 - ~15,000 WW1 vets petitioned in WA D.C. for $ they were suppose to receive - built Hooverville along Potomac River - many left "Bonus Army" after Hoover opposed bill
Bonus Army raided by Gen. Douglas MacArthur + troops = killed 3, destroyed lots, teargas
Hoover's "conservative policies" would not lend help to others in large ways during Depression - frowned upon
1934 - Dems. gained massive majorities in House/Senate
FDR + Congress passed National Labor Relations Act - offered Fed. support for workers to organize labor unions
Congress passed Fair Labor Standards Act - created modern minimum wage
2nd New Deal's most important act - Social Security Act - old-age pensions, unemployment insurance, economic aid
Women and Blacks did not benefit from the acts FDR put in place
1936 FDR reelected as President - conservative Congress didn't approve of his programs
FDR tried to "pack the courts" - hurt his New Deal reputation
1937 FDR cut spending - costly mistake (Roosevelt Recession of 1937)
War in Europe was looming
The Origins of the Great Depression
Herbert Hoover & Politics of the Depression
Lived Experience of Great Depression
Migration & Great Depression
The Bonus Army
Franklin Delano Roosevelt & “First” New Deal
The New Deal in South
Voices of Protest
Second New Deal (1935-36)
The End of New Deal (1937-39)