The Great Depression & The New Deal
Causes & Effects of the Depression, 1929-1933
- The Wall-Street crash affected not just millions in America but also millions of families globally.
- An unknown amount of selling on Wall-Street occured & the stock went DOWN!
- This crash caused people to panic, kids to go hungry, suicides, and THE GREAT DEPRESSION!
- Hoover signed a law to put very high taxes on foreign goods, so that Americans would buy more American goods and have a better domestic economy.
- Hoover FINALLY tried signing laws that would help farmers and give "emergency" loans to big businesses.
- Farmers desperate to keep their homes & farming land decided to hold their crops so the demand could go up and they could make a lot of money to pay back loans.
- During the Election of 1932 The Great Depression was at its climax.
- Almost 60% of voters concluded that it was time for a change.
Franklin D. Roosevelt's New Deal
- FDR became disabled due to polio, but decided to continue in politics.
- He promised to help ALL, especially the poor. And he appointed a highly diverse crew of advisers.
- Congress passed every law that Roosevelt proposed. WPA, AAA, CCC, NRA.
- Roosevelt Also proposed other laws as well like: CWA, SEC, FHA.
The 2nd New Deal
- The 2nd New Deal consisted mostly of relief programs to assist the unemployed by having them be assigned to mostly construction work.
- Roosevelt also focused on helping industrial workers and farmers more with gov't assistance rather than sending business people, or wealthy people.
- On eof the most revolutionary laws that was passed and that Hoover brought to the front was SSA and what this did was secure the future elders or disabled Americans by using taxes that were taken out of their checks.
- The Election of 1936 wasn't really competitive and FDR won every state with the exception of Maine and beat Alf Landon.