today’s warm up answer in your notes: calise was absent from class yesterday. briefly summarize...
TRANSCRIPT
Today’s Warm UpAnswer in your notes:Calise was absent from class yesterday. Briefly summarize what we covered in two to three sentences.
Hoover RespondsIt is NOT government’s job to help the poorChurches and charities should helpPROBLEM: People too poor to donate to churches, so churches can’t help as much!!!
VolunteerismCalls on business leaders to maintain employment, wages, prices
Hoover Responds- too little, too late
Reconstruction Finance Corporation (RFC)More than a billion $$ to railroads & large
businessesTrickle-down economicsUnfortunately, $$ did not trickle down to
the people who needed it mostBoulder Dam
Benefits of dam include work/labor, water, electricity, protection, pride
Federal Home Loan Bank ActHomes and farms more affordable/made
refinancing available
Hoover FailsBonus Army
WWI veterans seeking the bonus promised to them (~1945)1931 they called for early payment
Marched on Washington, DCHoover would not meet them – instead he sent Gen. Douglas MacArthur & federal troops
Election of 1932Herbert Hoover (Rep.)“Brother Can You Spare a Dime?”
Franklin Delano Roosevelt (Dem.)“Happy Days are Here Again!”
Who would YOU vote for? Why?Song Analysis
President Roosevelt Elected 1932
Brain TrustUsed professors and experts to develop programs to fight the depression
Promised “New Deal” for AmericansHundred Days
A period of intense activityin which Congress passed a lotof New Deal legislation.
Fixing the Depression- the New DealFixing Banks!!!
Declared a banking crisis Closed ALL banks/4 day “Bank Holiday”
Emergency Banking Relief ActPassed by Congress, allowed only sound
banks to reopen, the rest remained closedFireside Chat
told Americans by radio that the good banks were safer than $$ in a mattress
(30 more ‘chats’ that Am. listened to during his presidency)
What was the purpose of New Deal agencies?
NEW DEAL BEGINS- 3 Goals:Relief for UnemployedPlans for RecoveryReforms to Prevent more Depressions
Relief for Unemployed
CCC- Civilian Conservation Corp
PWA- Public Works Administration
TVA- Tennessee Valley Authority
SSA- Social Security Administration
Prevention Reforms
FDIC- Federal Deposit Insurance Corporation
Have you seen this?
SEC- Securities and Exchange Commission