Chapter 17
Words
Crashed into the Great Depression Transformed by the New Deal |
Gestures
Fall over, sound sad Rise and deal cards, FDR smile |
|
Notes
Time Frame 1929-1941
In 1920s, speculators bought stock on margin (easy credit)
Stock market boomed then crashed
Black Tuesday, October 1929
Economy slowed down, businesses closed, unemployment rose (worldwide!), farm income fell, poverty spread.
President Hoover blamed, easily defeated by F.D.R.
Banks failed, FDR’s banking act restored confidence
FDR and Congress passed acts to: revive business, stimulate the economy, help the poor
Reforms, Recovery, Relief: the “New Deal”
Alphabet Administration:
NRA- National Recovery Act (Blue Eagle)
AAA- Agricultural Adjustment Act
SEC- Securities and Exchange Commission
FDIC- Federal Deposit Insurance Corporation
Some opposed the New Deal
Fr. Coughlin/Huey Long/Dr. Townsend/ “The Rich”
One response: Social Security
Frances Perkins- 1st woman in cabinet; Secretary of Labor
Labor reforms happened
Supreme Court struck down parts of NRA
Blacks moved to Democratic party and Northern cities
Unions grew, some relief for migrants, economy slowly recovered…? But not fully until WWII
See “Grapes of Wrath” by John Steinbeck (book and movie)
Time Frame 1929-1941
In 1920s, speculators bought stock on margin (easy credit)
Stock market boomed then crashed
Black Tuesday, October 1929
Economy slowed down, businesses closed, unemployment rose (worldwide!), farm income fell, poverty spread.
President Hoover blamed, easily defeated by F.D.R.
Banks failed, FDR’s banking act restored confidence
FDR and Congress passed acts to: revive business, stimulate the economy, help the poor
Reforms, Recovery, Relief: the “New Deal”
Alphabet Administration:
NRA- National Recovery Act (Blue Eagle)
AAA- Agricultural Adjustment Act
SEC- Securities and Exchange Commission
FDIC- Federal Deposit Insurance Corporation
Some opposed the New Deal
Fr. Coughlin/Huey Long/Dr. Townsend/ “The Rich”
One response: Social Security
Frances Perkins- 1st woman in cabinet; Secretary of Labor
Labor reforms happened
Supreme Court struck down parts of NRA
Blacks moved to Democratic party and Northern cities
Unions grew, some relief for migrants, economy slowly recovered…? But not fully until WWII
See “Grapes of Wrath” by John Steinbeck (book and movie)