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Notes

Do Now:
Complete the
Do Now, turn
in your
homework,
and set up
your notes

2/22/2016

Depression & the New Deal (1920s and 30s)

Vocabulary:
public works government building projects, like
dams, bridges, parks
bank run when a large number of depositors
attempt to withdraw their funds simultaneously
because theyre worried the bank will collapse

Announcements

Fireside Chat
https://www.youtube.com/watch?v=iipnhLT
dh-0

Scandalous 1920s
Hardings cabinet filled with scandal
Teapot Dome: Harry Sinclair used bribes &
friends in government to get oil from federal
land; caught in 1924

Scandalous 1920s
1923, Harding dies, Calvin Coolidge becomes
president continues laissez faire policies
Prohibition era: illegal production of alcohol;
government poisons alcohol

Causes of Depression

Agricultural overproduction during 1920s


Speculation Stock market crash (1929)
Falling demand
Overproduction
Bank runs & failures

Hoovers response
Election of 1928 Herbert Hoover (Republican)
wins
After 1929 crash, Hoovers dilemma: should the
government give Americans relief or require
them to help themselves?

Hoovers response
Reconstruction Finance Corporation (1932):
made government loans to businesses, banks
Hoover mocked for lack of success homeless
built shantytowns called Hoovervilles

Check for Understanding


Think, then jot down an answer on the back
of your Do Now
Why was Hoover elected in 1928?
Why was Hoover unpopular by 1932?

FDRs Response
1932, Franklin Delano Roosevelt (Democrat)
elected
Bank runs in 1933 FDR declares a bank holiday
FDR inspired confidence through fireside chats,
working quickly (first 100 days)
Presided over largest reform in American history

First New Deal


Saved capitalism through socialistic reforms
New government programs to create jobs, help
unemployed & farmers, & fix banking system

Dust Bowl
Late 1933, drought struck Great Plains, followed
by winds
Misuse & overuse of soil huge dust storms,
thousands of acres destroyed
Thousands of Okies moved West to California

Chronology
A. _____ Stock Market Crash
B. _____ Hoovers Election
C. _____ Roosevelts Election
D. _____ Dust Bowl
E. _____ Hoovervilles constructed
F. _____ Teapot Dome Scandal
G. _____ Creation of Reconstruction
Finance Corporation
H. _____ Bank runs