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Great Depression Part II
Transcript of Great Depression Part II
and the New Deal
During the war we necessarily turned to the Government to solve every difficult economic problem the Government having absorbed every energy of our people to war there was no other solution. For the preservation of the State the Government became a centralized despotism which undertook responsibilities, assumed powers, exercised rights, and took over the business of citizens. To large degree we regimented our whole people temporarily into a socialistic state. However justified it was in time of war if continued in peace time it would destroy not only our system but progress and freedom in our own country and throughout the world. When the war closed the most vital of all issues was whether Governments should continue war ownership and operation of many instrumentalities of production and distribution. We were challenged with the choice of the American system
or the choice of a European system of diametrically opposed doctrines -- doctrines of paternalism and state socialism. The acceptance of these ideas meant the destruction of self-government through centralization of government; it meant the undermining of initiative and enterprise upon which our people have grown to unparalleled greatness.
Tariff Act of 1930
This year marks the 150th anniversary of the Constitutional Convention which made us a nation. At that Convention our forefathers found the way out of the chaos which followed the Revolutionary War; they created a strong government with powers of united action suf icient then and now to solve problems utterly beyond individual or local solution. A century and a half ago they established the federal government in order to promote the general welfare and secure the blessings of liberty to the American people.
Today we invoke those same powers of government to achieve the same objectives. . . .
. . . The essential democracy of our nation, and the safety of our people depend not upon the absence of power, but upon lodging it with those whom the people can change or continue at stated intervals through an honest and free system of elections. The Constitution of 1787 did not make our democracy impotent.
In fact, . . . we have made the exercise of all power more democratic; for we have begun to bring private autocratic powers into their proper subordination to the public’s government. The legend that they were invincible—above and beyond the processes of a democracy—has been shattered. They have been challenged and beaten. . . .
But here is the challenge to our democracy: in this nation I see tens of millions of its citizens—a substantial
part of its whole population—who at this very moment are denied the greater part of what the very lowest standards of today call the necessities of life. . . .
I see one-third of a nation ill-housed, ill-clad, ill-nourished.
. . . We are determined to make every American citizen thesubject of his country’s interest and concern; and we will never regard any faithful, law-abiding group within our borders as superfluous.
The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little
2 billion to
World War Adjusted Compensation Act of 1924
Bank Holiday 1933
Federal Deposit Insurance Corporation
1934 - $2,500
1935 - $5,000
1950 - $10,000
1966 - $15,000
1969 - $20,000
1974 - $40,000
1980 - $100,000
2008 - $250,000
Banking Act of 1933
National Industrial Recovery Act 1933
$30 a month
Public Works Administration
$ 6 billion
Agricultural Adjustment Act 1933/1938
raise crop prices
Tennessee Valley Authority
modernize the region's economy and society
3 days: closed
4th day: Congress votes on
Emergency Banking Act 1933
Reciprocity Trade Agreement Act 1934
president can negotiate tariff by up to 50%
"breadline for big business"
only 20% to public works
army chief of staff
2 infantry regiments
1 baby died
"I pledge you, I pledge myself, to a new deal for the American people!"
Chicago, Democratic National Convention, 1932
Associationalisn + progressive ideas
"the only thing we have to fear is fear itself"
in four hours!
Balance the budget
cutting government salaries
reduce pensions to veterans by up to 15%
$1 billion in deficit!
give business confidence
Tocqueville's "Democracy in America"
end child labor
minimum wage ($0.30-0.40 an hour)
35-40 maximum hours
set floor prices
Security and Exchange Commission 1934
Schechter v. US 1935
"sick chicken case"
Secretary of the Interior
Secretary of Labor
sharecroppers and tenant farmers!
Resettlement Administration 1935
Farm Security Administration 1937
provided loans to farmers
"Dust Bowl" victims
plight of the famer
Rural Electrification Administration
Recovery Review Board 1934
1936 Supreme Court chops up AAA
Soil Conservation and Domestic Allotment Act
join a union
no enforcement mechanism
Hugh Johnson resigns
Civil Works Administration
4 million people
Farm Credit Administration
Frazie-Lemke Farm Bankruptcy Act
Home Owner's Loan Corporation
25% farms lost
Federal Housing Administration
regain land after foreclosure
construction and home repairs
Works Progress Administration
2.1 mill from 1935-1941
Federal Arts Project
Federal Music Project
Federal Theatre Project
Social Security Act
$15 a month to the
federal pension program
$10-85 a month
paid by employer
National Youth Administration
National Labor Relations Act
National Labor Relations Board
John L. Lewis
Congress of Industrial Organizations
Secretary of Labor
Attacks from the Left
Attacks from the Right
American Liberty League
"that man in the White House"
Father Charles Coughlin
nationalization of banks
National Union of Social Justice
Dr. Francis Townsend
pension for the elderly
Share Our Wealth!
FDR: soak-the-rich taxes
Gov and Sen of LA
annual wage of $2,500
Judge Pavy of LA
son-in-law Dr. Carl Weiss
New Deal Coalition!