Causes of the Great Depression
♦Uneven distribution of wealth
♦Stock market speculation "buying on the margin"
♦Excessive use of credit
♦Overproduction on consumer goods
♦Weak farm economy
♦Global economic policies
♦Stock market crash (Oct. 29, 1929)
♦Stock market prices fell and there was no way to compensate for all the stocks bought on market
Rose to 25%
♦Hoover believed in
♦The federal gov't was NOT supposed to get involved and people were to take care of themselves
Hawely - Smoot Tariff (1930)
Ranging from 31-49%
Federal Farm Board
Tried to stabalize farm prices
Recontruction Finance Corporation
Emergency loans to banks, railroad's, & insurance companies
Farm Holiday Association
Formed by farmers by stopping the entire crop of gain from going to market - violence resulted
Congress denied U.S. WWI veterans the early acces to their promised early bonus payments
Three R's of the New Deal
♦"Relief" - for people out of work
♦"Recovery" - for businesses & the economy
♦"Reform" - of American economic institutions
"First Hundred Days"
Name given to the first 3 months of FDR's presidency when a record of laws were passed
FDR's evening radio talks explaing the New Deal
Declared by FDR in order to prevent withdrawals
Emergency Banking Relief Act (1933)
Inspect all banks
Glass-Steagall Banking Reform Act
Provided for Federal Deposit Insurance Corporation (FDIC) to insure deposits of up to $5,000
Federal Securities Act
Corporations must inform buyers about their stock
Most active forst lady in U.S. history
Roosevelt's most trusted group of advisers (inculded university professors)
♦FDR's Secretary of Labor
♦First woman to serve in a president's cabinet
FDR's Black Cabinet"
Leaders from African American organizations
♦Federal Emergendy Relief Administration
♦Public Works Administration
♦Civilian Conservation Corps
National Recovery Administation (NRA)
was to guarantee reasonable profits for business and fair wages and hours for labor
Schecter v. US
Supreme Court declared NRA unconstitutional
Agricultural Adjustment Administration (AAA)
was to reduce production & raise prices
Please allow access to your computer’s microphone to use Voice Recording.
We can’t access your microphone!
Click the icon above to update your browser permissions above and try again
Reload the page to try again!
Press Cmd-0 to reset your zoom
Press Ctrl-0 to reset your zoom
It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.
Your microphone is muted
For help fixing this issue, see this FAQ.