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Great Depression Part II

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HSPVA Humanities

on 30 April 2015

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Transcript of Great Depression Part II

The Great Depression
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
"rugged individualism"
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.
Hawley-Smoot Tariff
Smoot-Hawley Tariff
Tariff Act of 1930
Republican
Oregon Representative
Republican
Utah Senator
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
.
Reconstruction
Finance Corporation

2 billion to
state
and
local
governments
World War Adjusted Compensation Act of 1924
MacArthur

Patton

Eisenhower

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
Emergency
Banking Act of 1933
Glass-Steagall Act
commercial banking
investment banking
/
Civilian
Conservation
Corps
National Industrial Recovery Act 1933
unemployed
unmarried
18-25
$30 a month
Public Works Administration
hospitals
schools
dams
bridges
$ 6 billion
1931-36
Francis Perkins
Agricultural Adjustment Act 1933/1938
restrict production
provide subsidies
raise crop prices
Tennessee Valley Authority
modernize the region's economy and society
electricity
fertilizer
flood control
F
E
R
A
ederal
mergency
elief
dministration
March 5-9th
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%
"voluntary cooperation"
"Hoovervilles"
shantytowns
"breadline for big business"
only 20% to public works
$1000
radicals!
army chief of staff
3rd cavalry
deputy
Third Cavalry
2 infantry regiments
machine-gun detachment
six tanks
tear gas
bayonets
100+ injured
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!
Economy Act
Balance the budget

=
cutting government salaries
reduce pensions to veterans by up to 15%
OR
$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"
grants
interstate commerce
Harold Ickes
Secretary of the Interior
Secretary of Labor
Relief
Recovery
Reform
21st amendment
April 1933
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
7(a)
1936 Supreme Court chops up AAA
Soil Conservation and Domestic Allotment Act
right to:
join a union
collectively bargain
no enforcement mechanism
Hugh Johnson resigns
Civil Works Administration
temporary projects
4 million people
Mortgage Relief
Farm Credit Administration
Frazie-Lemke Farm Bankruptcy Act
Home Owner's Loan Corporation
25% farms lost
Federal Housing Administration
refinanced mortgages
regain land after foreclosure
construction and home repairs
refinance mortgages
Works Progress Administration
permanent work!
2.1 mill from 1935-1941
public works
arts
airports
bridges
roads
schools
libraries
Federal Arts Project
Federal Music Project
Federal Theatre Project
Social Security Act
elderly
unemployed
$15 a month to the
needy
federal pension program
$10-85 a month
domestic servants
agricultural laborers
excluded
unemployment insurance
paid by employer
handicapped
National Youth Administration
work
scholarship assistance
Wagner Act
National Labor Relations Act
National Labor Relations Board
Labor Schism
AFL
John L. Lewis
Congress of Industrial Organizations
Francis Perkins
Secretary of Labor
Attacks from the Left
Attacks from the Right
DuPont Family
American Liberty League
bipartisan
anti-prohibition
"reckless spending!"
"economic crackpots!"
"Socialist!"
DICTATOR!
"that man in the White House"
Father Charles Coughlin
silverite
nationalization of banks
National Union of Social Justice
RADIO!
ATTACKS!!
Dr. Francis Townsend
$200
pension for the elderly
60+
Huey Long
anti-capitalist
Share Our Wealth!
FDR: soak-the-rich taxes
Gov and Sen of LA
$5000 homestead
annual wage of $2,500
Judge Pavy of LA
son-in-law Dr. Carl Weiss
1935
1936 Election
"the referendum
Republican
Alf Landon
Union Party
William Lemke
36%
900,000
Court Packing
New Deal Coalition!
Full transcript