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The Depression Begins

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The Depression Begins. Farmers had suffered throughout the 1920s and were the ... Hoover and the Great Depression ... Americans and relief from the depression ' ... – PowerPoint PPT presentation

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Title: The Depression Begins


1
The Depression Begins
  • Farmers had suffered throughout the 1920s and
    were the first group to plunge into depression
  • Businesses increased profits while holding down
    material costs and wages, thus suppressing
    consumer spending power
  • Global economic problems created by World War I
    were the main factors

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3
Hoover and the Great Depression
  • President Hoover took aggressive action to stem
    the depression by using the power of the federal
    government
  • He created a wide variety of agencies and boards
    that contained the best minds in American
    business to suggest solutions
  • He also sponsored a tax cut hoping to stimulate
    the economy

4
The Election of 1932
  • Hoovers unpopularity denied him his second term
    and ushered Franklin Roosevelt into the White
    House
  • Roosevelt promised a New Deal for Americans and
    relief from the depression
  • The only thing we have to fear is fear itself.

5
The First New Deal Relief Measures
  • The Federal Emergency Relief Administration
    (FERA)
  • The Civil Works Administration (CWA)
  • The Public Works Administration (PWA)
  • The Agricultural Adjustment Act stabilized
    prices on farm produce through paying farmers to
    reduce their acreage under cultivation

6
The Banking Crisis
  • Many American banks had closed immediately after
    the stock market crash and the public no longer
    trusted them
  • Roosevelt tabled an emergency Banking Relief Act
    that gave the executive broad powers of financial
    reform
  • Additional legislation followed strengthening the
    Federal Reserve and establishing the FDIC to
    insure deposits

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8
Industrial Recovery
  • The National Industrial Recovery Act (NIRC)
  • The National Recovery Administration (NRA)
  • National Labor Board

9
The Second New Deal Work Relief and Social
Security
  • The Works Progress Administration (WPA)
  • The National Youth Administration (NYA)
  • The Social Security Act of 1935

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12
The Battle of the Supreme Court
  • As the first act of his second term, Roosevelt
    announced a plan to reform the judicial system
  • Angry with the Supreme Court for foiling several
    New Deal measures, the president was determined
    to create a more willing court
  • His scheme was complex and produced a public
    outcry of dictatorship Roosevelt quickly pulled
    back his plan
  • Ironically, the Court began passing practically
    every new initiative after this event

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