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Hoover, The Crash, and FDR

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soup kitchens, bread lines. Hoovervilles, Hobos. Hoover's action based on ... Bank Holiday. Relief, Recovery, Reform. Glass-Steagall banking reform FDIC ... – PowerPoint PPT presentation

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Title: Hoover, The Crash, and FDR


1
Hoover, The Crash, and FDR
  • Zisk US History

2
1920s begin...
3
Warren G. Harding
  • Republican
  • lower taxes, nat. debt
  • pro big business/ high tariffs

4
  • America First
  • Ohio Gang
  • Scandals
  • Dies in 1923 of a...

5
Silent Cal Coolidge
  • Reserved
  • Honest
  • No nonsense
  • conservative
  • pro-business

6
1924 election
  • Rep. Coolidge
  • Dem. JW Davies (Al Smith)
  • New Prog. LaFollette

7
Post-war Eco.
  • strong
  • Loans
  • Germanys blank check 30 billion
  • Dawes Plan 1924

8
Dawes Plan
9
U.S. economy
  • Silent Cal says ...
  • Business of America is business.
  • the man who builds a factory builds a temple

10
sick industries
  • Coal
  • textiles
  • growth S
  • S P ()

11
1928 election
  • I choose not to run
  • Rep. Herbert Hoover Sec. of Commerce
  • Dem. Al Smith the Happy Warrior

12
Campaign issues
  • radio influential
  • rugged individualism vs. welfare state of
    socialism
  • Prosperity

13
Hoovers Years
  • get rich quick
  • 1929 Agricultural Marketing Act
  • Smoot - Hawley Tariff of 1930 (60)

14
The Crash
  • unregulated stock market speculation
  • PEAK Oct. 24, 1929
  • Black Tuesday, Oct. 29 Hits Bottom

15
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16
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17
What should government do?
  • 1933 25 unemployed
  • Private efforts soup kitchens, bread lines
  • Hoovervilles, Hobos
  • Hoovers action based on American Individualism
    associationalism and cooperative individualism

18
Prosperity is just around the corner
  • Urged the lowering of taxes
  • Began public works projects
  • Urged voluntary lower farm production
  • Reconstruction Finance Corp trickle down effect
  • Bonus Army fiasco

19
Franklin Delano Roosevelt
  • I pledge myself to a new deal for the
    American people
  • The only thing we have to fear is fear itself
    nameless, unreasoning, unjustified terror which
    paralyzes needed efforts to convert retreat into
    advance.

20
First 100 Days 3 Rs
  • Bank Holiday
  • Relief, Recovery, Reform
  • Glass-Steagall banking reform FDIC
  • NIRA business cooperation on production/prices,
    codes of fair competition, min. wage and max.
    hours, NRA We do our part

21
  • HOLC-Homeowners Loan Corp
  • Federal Securities Act
  • AAA-Agriculture Adjustment Act
  • TVA-Tenn. Valley Authority Sen. George Norris
  • Federal Emergency Relief Admin. Harry Hopkins
  • CWA-Civil Works Authority
  • CCC-Civilian Conservation Corps

22
Success?
  • Fireside Chats
  • Brain Trust
  • Rural Electrification Admin.
  • WPA-Works Progress Admin.
  • 1936 election do you like FDR?

23
Criticisms!!!
  • Increase in power of Fed.govt.
  • Increase in presidential power
  • Loss of power to states/people
  • Business restricted
  • Supreme Court
  • Huey Longs Share the Wealth
  • Fr. Coughlin and Townshend

24
Second New Deal
  • Wagner Act or National Labor Relations Act
    1935
  • Labor Unions have right to organize and bargain
    collectively
  • National Labor Relations Board

25
  • Social Security Act 1935
  • system of old age insurance
  • Paid by workers and employers
  • 65 years pension
  • Unemployment insurance
  • Care of children

26
Changing Democratic Party
  • Always been heterogeneous but now women,
    Hispanics, and African-Americans
  • Black Cabinet Mary McLeod Bethune
  • Unions Fair Labor Standards Act 1938 40 hr
    week, min.wage

27
In the end
  • FDR never understood economics
  • Hoover had spent Govt.s
  • FDR wanted balanced budget
  • 1937 Roosevelt Recession
  • 1938 Keynesian economics
  • WAR Arsenal of Democracy

28
The Importance
  • Forced a change in the relationship between
    workers and employers
  • Welfare State
  • power of Federal Government
  • Feds presence in citizens lives

29
  • Power of state/local govts.
  • American citizens freedom and privacy
  • Presidential power
  • Deficit spending acceptable idea
  • balancing of the human budget
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