Chapter 26: The Great Depression and the New Deal Section 1: Hoover and the Crash Section 2: Roosevelt and the New Deal

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Chapter 26 The Great Depression and the New
DealSection 1 Hoover and the CrashSection 2
Roosevelt and the New Deal
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Herbert Hoover became president in 1828

• But. he became president at a time where America
  was just starting to have some money issues.
• Businesses had made so much stuff that they
  couldnt sell it all and they even had to lay
  off some workers.
• Some people were buying so much stuff on credit
  that theyd never be able to pay off their bills.
• Stock market prices were rising and people rushed
  to buy stocks (stocks dont always keep going up
  and if theyve gone up they might be coming back
  down some).

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A little 1920s stock market crash timeline

• September 3rd, 1929 Stock values reached a high
  point.
• Prices then went downward.
• On October 23rd prices dropped a lot and people
  started to try and sell.
• The falling prices scared buyers who thought they
  might drop even more.
• October 24th a record number of shares was
  traded.
• By October 29th, Black Tuesday, investors sold
  even more stocks at low prices. This was called
  the Crash of 1929.
• Banks began to demand that people pay back the
  money they had borrowed to buy the stocks.
• Banks ran short of money to give people to repay
  their loans.
• Many banks did not have enough cash on hand to
  pay back their customers and closed.
• Businesses sold less and less because people just
  didnt have any money.
• Many businesses laid off workers.
• Thousands of people lost their jobs and millions
  went hungry

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The Dow Jones in 1929
The Dow-Jones is an index that shows how 30 large
publicly owned companies based in the United
States have traded during a standard trading
session in the stock market.
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America had other depressions, but none had this
much suffering and lasted this long, so its
called

• The Great Depression
• It also affected millions of people around the
  world

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More pictures of this time
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Now you would think President Hoover would do
everything he could to help out, but

• He believed in rugged individualism
• He didnt support the idea of government support
  for the poor what we call social welfare.
• He wanted volunteers to help other people.
• One thing Hoover tried to balance the federal
  budget by cutting government spending and raising
  taxes, but that pulled more money out of the
  economy and actually made things worse.
• People blamed him for everything that went bad.

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Hoover Hog / Hoover Blanket / Hooverville /
Hoover Flag
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By 1932, millions of people lacked food and
shelter and it was time for a presidential
election

• You dont really know him, but does Herbert
  Hoover seem like the guy youd want running
  things 4 more years?
• The country felt the same way and elected
  Franklin Delano Roosevelt (FDR)

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Right away he did some things to help out

• He told the country the only thing we have to
  fear. is fear itself.
• He declared a bank holiday and closed all the
  banks.
• He promised only safe and secure banks would be
  allowed to re-open.
• He kept letting the country know things would be
  okay he even had fireside chats

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One way a lot of presidents get judges is by what
they do in their first 100 days in office

• That goes back to FDR and all the things he tried
  to do right away.

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Roosevelt also promised a New Deal for
Americans

• Relief for the hungry and jobless.
• Recovery for agriculture and industry.
• Reform to change the way the economy worked.

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Some FDR personal information

• He was a distant cousin of Teddy Roosevelt (4th).
• He was married to his cousin.
• (5th cousin).
• When he was 39 he caught polio .
• For the rest of his life he walked with canes, or
  rode in a wheelchair.
• Most people didnt even know.

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Anna Eleanor Roosevelt

• One of the more active wives of a president
• A symbol of strength in women of the time

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FDR started many new programs to help out (some
still affect us today)
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Programs Accomplishments
PWA (Public Works Administration) Created jobs by having people build highways, bridges and public works
TVA (Tennessee Valley Authority) Planned development of the Tennessee Valley Region (including a dam)
CCC (Civilian Conservation Corps) Hired young men to plant trees, build dams, and work on other conservation projects
FDIC (Federal Deposit Insurance Corporation) Protected the money of depositors in insured banks
WPA (Works Progress Administration) Established large scale national works programs to create jobs
NYA National Youth Administration) Set up programs for young people people and helped them continue their education
Social Security Act Provided workers with unemployment insurance and retirement benefits.
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Roosevelt wasnt perfect in everything he did.

• There were some people that didnt like that he
  used deficit spending.
• Spending money they didnt have yet.

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People escaped through entertainment
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This entertainment was often not realistic
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Movies
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Radio
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Swing
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