Week 9 the Great Depression

Rudy Vallee's Song "Brother, Can You Spare a Dime?"

• Themes of disillusionment after contributing to building America.

• Key Lyrics:

  • Reflect on working hard for dreams and facing hunger.

  • Imagery of building a railroad and tower, symbolizing American progress.

  • Nostalgia for service (e.g., in military) and friendship, asking for help in hard times.

The Great Depression

• Overview: Week 9

Historical Context

• Last Week On:

  • Examined post-World War America’s prosperity and Republican dominance.

  • Mentioned social activism movements including the 19th Amendment and prohibition.

  • Discussed the Roaring 20s, characterized by a sense of newness and subsequent pushback.

The Great Depression

• Duration: Lasted over a decade, triggered by the Stock Market Crash in 1929.

• Impacts:

  • High unemployment and widespread poverty.

  • Transformation in government policies and altered public expectations, challenging capitalism.

Causes of the Great Depression

1. Stock Market Crash of 1929

   • "Black Thursday": mass sell-offs and significant financial losses.

   • High levels of speculation: over 40% of stocks were bought with borrowed money.

2. Overproduction and Underconsumption

   • An oversupply of goods led to decreased consumer purchasing power due to wage stagnation.

   • Resulted in layoffs and increased unemployment.

3. Agricultural Decline

   • Farmers faced falling crop prices and overproduction.

   • International competition contributed to difficulties, leading to farm foreclosures.

4. Global Economic Factors

   • High tariffs enacted, including the Smoot-Hawley Tariff Act of 1930, led to retaliation and reduced international trade.

   • Overall global economic downturn impacted nations worldwide.

Herbert Hoover

• Presidency: Served from 1929-1933; believed in limited government intervention.

• Emphasized voluntary cooperation and charity.

• Created the Reconstruction Finance Corporation in 1932 to provide emergency loans to corporations.

Lived Experiences during the Depression

• Unemployment Rates: By 1933, 25% unemployment.

• Other impacts included homelessness and poverty, affecting the societal psyche and shaking the American Dream.

Migrations during the Depression

• Internal migration across the U.S. coincided with the Great Depression.

• The Dust Bowl (1930-1940) exacerbated hardships, leading many to seek jobs in urban areas.

The Bonus Army

• In 1932, 20,000 WWI veterans marched on Washington, D.C., demanding early payments.

• Hoover’s administration forcibly removed them, leading to public outrage and a perception of government failure.

Folk Heroes & Lawlessness

• Rise of figures like Bonnie and Clyde, known for gang robberies and violent shootouts.

Democrat Governance under FDR

• Franklin Delano Roosevelt elected in 1932.

• Proposed the "New Deal" to reshape American government’s role in citizens' daily lives.

Roosevelt's 3 R's

• Relief: Support for the poor.

• Recovery: Focus on recovering the economy.

• Reform: Reforms of the financial system.

The New Deal

• Key initiatives included:

  • Banking reforms: Bank holiday and Emergency Banking Act.

  • Agricultural Adjustment Act (AAA): Intended to raise crop prices.

  • Civilian Conservation Corps (CCC): Jobs for young men in environmental protection.

  • Public Works Administration (PWA): Construction of infrastructure like roads and schools.

The New Deal in the South

• Tennessee Valley Authority (TVA): Aimed at modernization and providing electricity.

• AAA benefited Southern farmers yet excluded African Americans.

• Rural Electrification Administration (REA): Improved rural living conditions.

Second New Deal

• Social Security Act (1935): Instituted a pension system for retirees.

• Wagner Act (1935): Protected workers’ rights to unionize.

• Works Progress Administration (WPA): Focused on construction and cultural projects.

Opposition to the New Deal

• Criticism from:

  • Right Wing: Concerns over expanded political power.

  • Left Wing: Figures like Huey Long claimed it didn't go far enough.

  • Questions on nationalization and pension plans emerged.

Controlling Opposition

• FDR’s use of the Fireside Chats humanized government and presented a stark contrast to Hoover’s approach.

Legal Challenges

• Supreme Court overturned the National Industrial Recovery Act (NIRA) and AAA, questioning federal authority.

• FDR's response involved proposing the Judicial Reorganization Bill of 1937 to "pack the courts."

Everyday Impacts of the Great Depression

• Disproportionate effects on marginalized groups, including African Americans.

• Eleanor Roosevelt championed women’s rights, focusing on social issues.

• Frances Perkins became the first female Secretary of Labor.

• Mexican Americans faced mass deportations.

The “Indian New Deal”

• Indian Reorganization Act: Aimed to restore tribal self-government and reversed allotment policies.

• Ended the allotment of tribal lands and recognized tribal governments.

• The Navajo nation opposed elements of this legislation.

Legacies of the Great Depression and the New Deal

• World War II ultimately ended the Great Depression.

• Resulted in expanded federal power, economic regulations, and social welfare expectations.

• Political realignments occurred, particularly among African American and working-class citizens shifting support to the Democratic Party.