The surprise
attack on
Pearl Harbor
by Japan on
December 7,
1941
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This was the
beginning of
World War II
for the U.S.
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Recession
unemployment
depression
law of supply and demand
securities
over-speculation
foreclosures
NYSE
Wall Street
bond
on the margin
overproduction
brokers
stock
insider trading
interest
Business Cycle
bank runs
A bull market is up—it’s a
seller’s market
A bear market is down—it’s a
buyer’s market
1920S
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Economic prosperity
Optimism
Fads and slang
Prohibition
Organized crime/bootleg
Heroes
Movies
Silent Cal
Laissez-faire
New jobs
Bull market
Ideals of rural America
Migration to cities
Fundamentalism
Republicans in power
1930S
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Economic depression
Pessimism
Traditional values
Repeal of prohibition
Public enemies/theft
Political demagogues
More movies/escapism
FDR’s fireside chats
New Deal regulation
25% unemployment
Bear Market
Dust Bowl
Migration to California
Rugged individualism
Democrats in power
1. Business Cycle
2. Great Crash
3. Black Tuesday
4. Rugged Individualism-idea of a person standing on
his own without help from
others
5. Breadlines/Soup Kitchens
6. Depression
7. Bonus Army
8. Hoovervilles
9. Dust Bowl
10. Dorothea Lange
11. Hobo Signs
12. “Riding the Rails”
13. The New Deal
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—Hoover Blanket
—Hoover Flag
—Shanty
1929-1941
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http://www.youtube.com/watch?v=Q0zEXdD
O5JU
(Video: “The Crisis of Credit”)
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A. Overproduction (led to lay-offs)
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B. Under-consumption (led to more lay-offs)
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C. Unsound financial practices led to “bank
runs” (bad loans, buying on the margin)
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D. Stock Market Crash—Oct. 29, 1929
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Hoover’s Secretary of
Treasury
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Blamed for policies
leading to the
Depression
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A. Ideas of rugged individualism
B. Agricultural Marketing Act
C. Reconstruction Finance Corporation
D. Limited program of federal works
E. Encouraged local projects
F. Extended WWI European Loans
G. Hawley-Smoot Tariff—failure—depression
got worse!
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http://www.youtube.co
m/watch?v=eih67rlGNh
U
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Recorded by Bing
Crosby in 1931
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http://www.youtube.com
/watch?v=_r3KdTL6mjk
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Film: Gold Diggers of
1933
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Song still used to
indicate a bull market
over a bear market
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A. 13 million unemployed
B. Foreclosures on homes and farms
C. Breadlines and soup kitchens
D. Banks failing
E. Hoover ran for re-election—people
blamed him for the depression
F. Gov. Franklin D. Roosevelt of NY won in a
landslide
G. Both houses of Congress became
Democratic majorities
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http://www.youtube.
com/watch_popup?f
eature=player_embe
dded&v=sNOsIB5V
MSQ
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A. Early years of wealth and privilege—
related to TR—married to Eleanor—lawyer
B. NY politician
C. Assistant sec. of navy
D. VP candidate in 1920
E. 1921—polio led to paralysis of his legs—
used exercise, steel braces, cane
F. 1928-33—governor of NY
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A. Greatest peacetime crisis in history
B. Inauguration—March 1933—later the 20th
amendment changed inauguration to
January (shorter “Lame Duck”)
C. “The only thing we have to fear is fear
itself”
D. Promised “relief, recovery and reform”
E. Promised a “New Deal” for people
F. Fireside chats (on radio) reassured people
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President Roosevelt presented an “alphabet
soup” of programs
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All presidents are now judged by their first
100 days in office
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“Brain Trust”—FDR’s advisors were
university professors and experts
Based on ideas of
John Maynard Keynes
(Keynesian Economics)
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‘‘pump priming’’
or ‘‘priming the pump’’
(government spending
to stimulate the economy)
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A. National Banking Holiday—halted bank
runs and provided safe banks—he closed the
banks
B. Gold standard ended
C. FDIC—Federal Deposit Insurance
Corporation—protected bank deposits!
D. Federal Securities Act
E. SEC—Securities and Exchange
Commission (headed by Joe Kennedy!)
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A. FERA—Federal Emergency Relief
Administration (gave “relief” $)
B. PWA—Public Works Administration
(roads, buildings etc.)
C. WPA—Works Progress Administration
(added art projects)
D. CCC—Civilian Conservation Corps (built
campsites)
E. NYA—National Youth Administration
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http://livingnewdeal.org/us/tx/denton-tx/
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A. NRA—National Recovery Administration
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B. Sec. of State Cordell Hull lowered tariffs
for better international trade
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C. AAA—Agricultural Adjustment Act
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A. NLRA (Wagner Act)—National Labor
Relations Act—made unions legal
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B. Social Security Act—retirement funds
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C. Fair Labor Standards Act—protected
women in the workplace—established
minimum wage and maximum hours
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Secretary
of Labor
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First Woman
Cabinet
Member
(Note: Dept. of Labor
started by Wilson-1913)
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A. HOLC--Home Owners Loan Corporation
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B. FHA—Federal Housing Administration
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C. USHA—U.S. Housing Authority
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A. TVA—Tennessee Valley Authority
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B. Hoover Dam (Boulder Dam), Grand Coulee
Dam, and others
C. Rural Electrification Act
(all provided electricity in rural areas)
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A. 21st Amendment Passed—repealed 18th
(ended prohibition)—1933
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B. FCC—Federal Communications Commission
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C. Motor Carrier Act
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D. Civil Aeronautics Act
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E. U.S. Maritime Commission
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F. Food, Drug, Cosmetics Act
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G. Good Neighbor Policy (friendly to Latin
America)
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H. Became friendly to U.S.S.R. (Soviet
Union/Russia)
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I. FDR re-elected in 1936 (against Al Landon)
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A. Too much power of the federal
government?
B. Is it the job of the government to provide
for the poor?
C. Supreme Court ruled against some
programs (NRA, AAA)
D. Court Packing Scheme—FDR tried to
increase the number of liberal justices—
DISASTER!
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E. FDR defied the two-term tradition and ran
four times
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F. Money wasted and not enough help—8
million still unemployed in 1939
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G. Record deficits ($49 billion in 1941)
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A. Programs were not a cure for the depression but
gave people relief during the depression
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B. It broadened the power of what government can
do
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C. Some believe that the New Deal saved the U.S.
from disaster and restored the confidence of the
people
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D. By “priming the pump” (putting money into the
economy), FDR helped people—used ideas of
economist, Keynes
Eleanor was
‘‘the president’s
legs’’—travelled
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Civil Rights
advisor to FDR
(Black Cabinet)
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Had a news column
called ‘‘My Day’’
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Later named
U.S. ambassador
to the United Nations
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Social Security
SEC
FDIC
FHA
HOLC
USHA
FCC
FDA
TVA
Unemployment insurance
Minimum wage
forty-hour week
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FDR’s New Deal did not end The Great
Depression
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It provided temporary relief (like cold
medicine)
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WWII ended The Depression for the U.S.
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Texas: 6.5%
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Denton County: 5.2%
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Growth of 257,000 new
jobs in the last year
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Denton ISD is number
4 in the state in new
home growth
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http://www.youtube.com/w
atch?v=Z_Ovo1arA-o
See FDR’s First Inaugural
Address
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http://www.youtube.com/w
atch?v=amNpxQANk0M
“The only thing we have to
fear is fear itself.”
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Hoover
FDR
Eleanor Roosevelt
New Deal
Hundred Days
Brain Trust
Social Security
Pump Priming
Alphabet Soup
Bank Holiday
Frances Perkins
PWA
REA
Fireside Chats
FDIC
20th Amendment
21st Amendment
Court Packing Scheme
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The details of the New Deal
created a big bureaucratic
government
a system of
government in
which most of
the important
decisions are
made by state
officials rather
than by elected
representatives
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Bonnie and
Clyde
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John Dillinger
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Arrest of Al
Capone
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Huey Long of
Louisiana (“The
Kingfish”)
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John Lewis, labor
leader
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Father Coughlin, radio
personality
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Dr. Townsend
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http://www.neabigread.org/books/
grapesofwrath/
Novel by John Steinbeck,
published in 1939
Film made in 1940—Directed by
John Ford
Inspired by Dorothea Lange’s
photography
Main Character: Tom Joad
(parolee, sharecropper, migrant
worker)
Setting: 1930s Oklahoma Dust
Bowl to California (Route 66)
Biblical Themes: journey,
wandering in the desert, trials of
Job, “love thy neighbor”
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Read the memoir
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Cesar Chavez was a
real “Tom Joad” in the
1960s.
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His childhood
experiences as a
migrant worker during
the 1930s influenced
his work in the 1960s.
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American entertainer,
journalist, folk hero
Beloved humorist
Known for his comments on
politics and everyday life
“I am not a member of any
organized political party. I
am a Democrat.”
“I never met a man I didn’t
like.”
Died in a plane crash with
aviator, Wiley Post, in Alaska
in 1935
Marian Anderson
Jesse Owens
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‘‘Today I
consider
myself the
luckiest man
on the face
of the earth.’’
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Lou Gehrig,
NY Yankees
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Mr. Ruth, why do you
make more money than
President Hoover?
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“I had a better year
than he did.”
This land is my land
This land is your land
From California
To the New York island
From the redwood forest.
To the Gulf Stream waters
This land was made
for you and me.
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Sung by Kate Smith,
Armistice Day of 1938
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Inspired the country on
the eve of WWII
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Made more money than
any other song before
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All money was donated
to Boy Scouts and Girl
Scouts of America
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World’s
tallest
building
in 1931
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New York
City
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German
Airship
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Lakehurst,
NJ
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May, 1937
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‘‘Oh, the
humanity
of it all!’’
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Sit down strike by
automobile
manufacturers union
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Ford Motor Plant in
Detroit
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Known for “corporate
welfare”
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Al Capone? Arrested for
tax evasion and died at
Alcatraz
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Calvin Coolidge? Died
and there was a state
funeral
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Charles Lindbergh? His
baby was kidnapped and
killed—the family moved
to England
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Totalitarian states
were using
oppressive ways to
fight the Great
Depression
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1. Business Cycle—series of economic events covering prosperity
to depression through the years
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2. Great Crash—major dip in the stock market in October 1929
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3. Black Tuesday—October 29, 1929—day of stock market crash
and beginning of Great Depression
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4. “Rugged Individualism”—idea of a person standing on his own
without help from others
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5. breadlines/soup kitchens—free food in cities during the
depression
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6. depression—severe economic downturn (low business activity,
low prices and wages, high unemployment)
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7. Bonus Army—a protest march of veterans in Washington who wanted
their WWI benefits—Hoover sent the army to control them
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8. Hoovervilles—series of shacks and shelters for homeless during
Depression
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9. Dust Bowl—result of drought on the Great Plains
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10. Dorothea Lange—photographer of the depression, especially migrant
workers
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11. Hobo Signs—marks by the homeless outside a home indicating help or
no help
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12. riding the rails—teens left home and jumped on trains to find work
and adventure
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13. New Deal—FDR’s relief, recovery and reform programs designed to
battle the Great Depression
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Emergency Banking Relief Act
Banking Act of 1933 (Glass Steagall Act) established FDIC
Truth in Securities Act --SEC
HOLC, FHA
Gold taken out of circulation—abandoned gold standard
FERA led by Harry Hopkins
CCC—for 18-24 aged men whose parents were on relief
PWA (led by Harold Ickes)
Civil Works Administration—extended PWA
AAA
Federal Farm Loan Act, Farm Credit Admin., Frazier-Lemke Farm
Bankruptcy Act
 NIRA and NRA (declared unconstitutional—Schechter v. U.S.)
 TVA
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Conservatives said that FDR was a ‘‘traitor to his
class’’
Some thought NRA favored big business by setting
prices too high
AAA did not benefit sharecroppers
American Liberty League promoted conservative
candidates
Dr. Francis E. Townsend proposed The Old Age
Revolving Pension Fund
Sen. Huey Long proposed a ‘‘Share the Wealth’’
program
National Union for Social Justice—Father Coughlin
(sounded fascist!)
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WPA
NYA
REA
Resettlement Administration (RA)
Wagner Act
NLRB
Social Security Act
Banking Act of 1935
Public Utility Holding Co/Wheeler-Rayburn Act
Revenue Act—increased income tax
Motor Carrier Act
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Governor Alfred Landon of Kansas, the
Republican candidate
Union Party—Congressman Lemke of ND
(Father Coughlin was denounced by Catholic
leaders and Dr. Townsend’s following
decreased)
Socialist candidate, Norman Thomas
FDR won all states except Maine and
Vermont
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Indian Reorganization
Act of 1934
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partially reversed the
Dawes Act
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restored the tribal
basis of Indian life
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John Nance Garner
of Texas 1933-41
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Henry Wallace of
Iowa 1941-45
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Harry S Truman
of Missouri 1945