the neal deal dbq

long term causes of the great depression

agricultural overproduction, underconsumption, wealth gap, weak banking system, and stock market speculation

stock market speculation

people were investing with borrowed money

immediate causes of the great depression

stock market crash, bank failures, unemployment, and the dust bowl

the dust bowl

severe drought and poor farming practices in the 1930s

devastated the agricultural economy

black thursday

oct 24, 1929 was the first day the stock market crashed

what happened on black thursday?

13 million shares traded

caused by speculation, buying on margin, and overproduction

black tuesday

oct 29, 1929 was the day the stock market plummeted

result of black tuesday

16 million shares traded, nationwide panic, bank runs, ruined confidence, and massive loss of wealth

impact of the great depression

¼ of the nation is unemployed, homelessness, farmers struggling, decline in birth/marriage rate

election of 1932

FDR was personable and campaigned actively

hoover struggled and was blamed for great depression

result of election of 1932

FDR won with a large margin (42 states and 23 million votes)

the first new deal

FDR’s series of federal programs launched in 1933 aimed at fightingthe great depression through the three R’s

the three r’s

relief, recovery, and reform

relief

direct adi to unemployment and poor

recovery

restart business and industry

reform

prevent another depression from occurring

programs of the new deal

CCC, FERA, FDIC, Glass-Steagall Act, TVA

civilian conservation corps

unemployment relief through jobs for men in areas of conservation of natural resources

federal emergency relief act

directly gave money to state/local governments

used for direct relief, funding jobs, and youth programs

federal deposit insurance corporation

insured bank deposits and prevented bank runs

glass-steagall act

separated commercial and investment banking to reduce risk

tennessee valley authority

built dams and electricity

created jobs and modernized rural areas

the second new deal

second wave of legislation focused on long term reform, economic security, and increased government spending

what was the 2nd new deal in reaction to?

criticism, worries about debt, and congressional issues from first new deal

reforms of the 2nd new deal

PWA, social securities act, and wagner act

public works administration

federal public work jobs and funded large construction projects

social security act

pension for retired people over the age of 65

initially excluded farm laborers, domestic servants, and self employed

wagner act

guaranteed the rights of unions to organize and bargain collectively

protected labor rights

why was the new deal important?

helped pull americans out of the depression

industrial production and employment grew

what did some people argue against the new deal?

said it was unconstitutional or short reaching

many americans felt depression effects until US entered into w

huey long

louisiana senator that proposed the share wealth plan

francis couglin

priest who used radio to share anti government and hatred

american liberty league

wealth conservatives/business leaders who thought FDR was expanding gov. too much

1336 election

FDR beats alf landon by a landslide

shows strong public support despite criticism over first new deal

social impact on african americans

still faced segregation, poor schooling, limited political/civil rights, and limited job opportunities in the south

FDR stance on anti-lynching law

did not push for it because he was scared of congress blocking other programs

black cabinent

informal group of advisors that shaped new deal policies for african americans

william hastie and mary bethune

provided aid, education, and job training through national youth administration

women

gained more prominent roles such as government jobs and being part of new deal agencies

eleanor roosevelt

supported women participation, worked with molly dewson, and advocated for women’s rights

frances perkins

secretary of labor and first female cabinet member

what did FDR prioritize?

job creation through reform programs over direct relief

what caused the end of the new deal?

growing opposition from the supreme court on the programs

FDR and court-packing

proposed reorganizing the court by appointing a new justice for every member older than 70

plan rejected by congress

result of congress rejecting court-packing

sotus still supported new deal laws

FDR purge of congress

tried to remove conservative dems and led to republican and conservative dems gained seats which ended the new deal

long term effectiveness of the new deal

elevated status of farmers/workers, economic development, increased gov economic regulation and public welfare

consequences of the new deal

didn’t directly confront racial injustice, did not remove poll tax, exclusion of women, unemployment

historical context

world war 1 boosts industry/economy between 1914-1918

demand drops post-war leading to prices falling

roaring twenties = rapid economic growth, consumerism, and stock market investing

uneven wealth distribution

overproduction and underconsumption

stock market crash of 1929

bank fails and unemployment rises in the 1920s

great depression begins and hoover responds with limited gov action

FDR elected in 1932