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The Great Depression and the New Deal
Transcript of The Great Depression and the New Deal
The upward trend in stock prices.
The downward trend in stock prices.
-Pruchasing stocks with borrowed money
-The use of the shares themselves as payment.
Playing the market to make a quick profit.
October 24,1929; an increase of stock sold back to the market.
October 29, 1929; prices sunk to an all time low when 16 million stock were sold back to the market.
Protected American industries from inexpensive imports.
No more foreign market
Franklin Delano Roosevelt
Success that comes come individual effort and human independence.
Reconstruction Finance Corporation:
Responsible for lending up to $2 billion taxpayer money to stabilize toubled institutions.
Federal Emergency Relief Board
$375 million for direct aid to unemployed
Rejected by Hoover
President Committee for Unemployment Relief
-assist state and local relief efforts
-Americans should contribute to charity
Federal Farm Board
help farmers help themselves
Home Loan Bank Act
provided money to savings
hoped to decrease foreclosures on homes and farms
"In Hoover we trusted and now were busted."
Dr. Francis Townsend
-Government should grant pension of $200 a month for Americans over 60.
-Use within 30 to fuel the economy.
Charles E. Coughlin
-the government to should nationalize banks and return to the silver standard
*take from the rich and give to the poor.
sieze wealth from the rich through taxes and provide a minimum income and home to American families.
Second New Deal
New series of programs
continued support to promote social relief and economic recovery
long term reform
Works Progress Administration
Gave people work
8.5 million people found work
What did these projects include?
National Youth Administration
Let youth find jobs and also stay in school
Social Security Act
1. Provided unemployment insurance to workers who lost their jobs
2. Pension to retired workers over 65
3. Payments to peoples with diabilities, elderly and widowed
According to Guthrie, how did the Dust Bowl affect life in the U.S.?
Why might this kind of music be popular?
Allowed for income while students were still in school
Sense of self worth
Spending more money then making
Better health through water and sanitation
Too much government involvement?