Great Depression Notes

Republicans in Power

Republicans controlled the White House from 1921 to 1933 and Congress from 1918 to 1930.

Warren G

Harding and Coolidge shared power; Harding set an agenda for Congress before his death in 1923.

Bad Appointments

Harry Daugherty and Albert Fall were poor choices for attorney general and interior secretary, respectively; Fall was convicted of bribery.

Calvin Coolidge

Coolidge restored public confidence and believed in minimalist government and small-town democracy.

Andrew Mellon

Mellon believed prosperity trickled down from the rich to the poor through investment, leading to tax cuts during his tenure.

Herbert Hoover's Associationism

Hoover promoted cooperation between businesses and government through trade associations, aiming to eliminate waste and promote welfare capitalism.

Agricultural Decline

Farmers faced economic struggles as wartime price supports were withdrawn, leading to a decrease in their national income share.

The Great Flood of 1927

A devastating flood caused significant property damage and loss of life, leading to federal legislation to prevent future disasters.

Dawes Plan

In 1924, the Dawes Plan aimed to stabilize the German economy by reducing war debts and providing loans.

Kellogg-Briand Pact

The 1921 pact aimed to outlaw war, but nations still built smaller warships in response to limitations.

Election of 1928

Herbert Hoover won the election, signaling a political realignment as the Democratic Party fractured.

The Great Bull Market

The 1920s stock market saw unprecedented growth, but concerns about overproduction and underconsumption emerged.

The Great Crash

The stock market crash on October 29, 1929, marked the beginning of the Great Depression, causing massive financial losses.

Global Impact of the Crash

The US economic collapse led to widespread failures in Europe, with many nations abandoning the gold standard.

Causes of the Great Depression

Economic instabilities, overproduction, and consumer debt contributed to the onset of the Great Depression.

Human Impact

The Great Depression resulted in widespread unemployment, with millions losing their jobs and homes.

Psychological Effects

The Depression caused shame, self-doubt, and fear among Americans, leading to a search for past practices to cope.

Dust Bowl

Intensive farming practices led to ecological disaster, forcing millions to abandon their farms and migrate.

Repatriation

The Great Depression prompted the repatriation of Mexicans and Mexican Americans, reducing their population in the US.

African American Unemployment

The Depression disproportionately affected African Americans, with nearly 50% unemployment by 1932.

The Bonus Army

WWI veterans protested in Washington for their bonuses, leading to a violent eviction by the US Army.

FDR's Election

Franklin D. Roosevelt's election in 1932 marked the end of 30 years of Republican rule and a shift towards the New Deal.

New Deal Programs

FDR's early New Deal included numerous bills aimed at economic recovery, relief, and reform.

Social Security Act

Established in 1935, it provided economic stability for the elderly but excluded certain workers.

National Labor Relations Act

The Wagner Act created a board to supervise union elections, significantly increasing union membership.

The Second New Deal

The 1935-1936 period saw a shift towards greater regulation and support for the needy.

Rise of Organized Labor

The New Deal era saw a powerful union movement emerge, with significant gains for unskilled workers.

Federal One

The Federal One program employed thousands in the arts, providing cultural enrichment during the Depression.

John Collier's Indian Reorganization Act

This act aimed to restore tribal culture and control over Indian lands.

New Deal for Women

The New Deal offered unprecedented opportunities for women in social work and politics, though gender equality remained limited.