The Great Depression THE ECONOMY – 01:13 The Stock Market Crash was an obvious end to the era of _______________ _______________, but other problems contributed to the Great Depression including: over _______________ leading to a _______________ of commodities economic _______________ after World War I caused a _______________ depression a sharp _______________ in prices _______________ distribution of the nation’s _______________ (The surplus of American commodities coupled with the reduction of sales in foreign markets pointed the way to a sharp decline in prices.) (There was an uneven distribution of the nation’s wealth: as businessmen got richer they failed to raise wages by an equal percentage and many of the laborers could not buy the products they were producing.) HOOVER AND THE DEPRESSION – 02:20 Hoover feared that if the American people lost _______________ in _______________ the state of the _______________ would continue to _______________. Hoover: _______________ _______________ _______________ (if citizens spent less in _______________ they might be more inclined to invest in the stock market or purchase products – but since income _______________ were already low, the cut gave citizens very little extra spending money and thus little positive effect was demonstrated in the economy); staged a series of meetings with the top _______________ _______________ in the nations requesting that worker’s _______________ stay the same (fearing that businessmen would cut _______________ in an effort to cut costs and this would negatively impact the economy) Henry Ford actually _______________ assembly line worker’s _______________ by “_______________” and in some cases decreasing the wages of employees who earned higher salaries. The declining level of _______________ that was plaguing the American people was caused by a change in the _______________ _______________ During the 1920s the _______________ _______________ had focused on the booming stock market and the achievements of heroes but after the crash an increasing number of _______________ stories focused on the corruption in big business, hardships in every day life, and the allegedly increased suicide rate among those who faced financial ruin. 1 The Great Depression The crash affected _______________ Americans in the months that immediately followed but the level of the anxiety as fueled by the dire stories in _______________ caused many to spend less money and conserve as much as possible. Lower income Americans often bought large items on _______________ plans before the crash but in the aftermath they saved what wages they earned as the threat of layoffs loomed larger. The wealthier class had the most invested and thus had the most to loose when the market crashed: as their extra income evaporated they too stopped _______________ and severely limited the amount of money they _______________. The result was _______________ _______________ owners suffered greatly: as merchandise languished away in store front windows, profits continued to diminish. _______________ were also hard hit by the crash: many _______________ that failed had been speculating in the stock markets with their _______________ money. As an increasing number of _______________ closed their doors more and more Americans saw their life savings vanish. Hoover maintained his view that the federal government _______________ _______________ _______________ with free enterprise. Hoover felt federal regulation would undermine the _______________ _______________ upon which the American economy was _______________. Hoover believed that _______________ industry was an important step toward ending the Depression: if industry grew more _______________ would become available and people would be able to spend more money. Hoover was strictly opposed to any form of _______________ program thinking that giving _______________ directly to the unemployed would strip them of their _______________ and worsen the depression. Hoover sought to protect American businessmen and farmers from _______________ _______________. The Smoot – Hawley Tariff Act passed in 1930 raised _______________ on many (over 20,000) goods by as much as 60%. As a result world trade _______________ as other countries raised their _______________ to counter the exorbitant American rates. The Smoot Hawley Tariff was supposed to _______________ the American economy but instead it helped _______________ the devastation and _______________ the course of the Great Depression. 2 The Great Depression As bad as things were in American cities things were much worse in America’s _______________ _______________. THE DUST BOWL – 07:53 In previous decades many farmers and frontiersmen settled in the Great Plains due to the _______________ _______________ and _______________ _______________ that made growing crops a dependable way of life. The advent of new machinery like the reaper and the tractor made farming _______________ plots of land much easier: but what many of these farmers failed to realize was that by continually tilling and growing on the same plots of land they were actually _______________ the soil of its _______________. In 1931, just as the Great Depression was settling in through out the country, a massive _______________ struck the Plains: the effect of the _______________ was compounded by a record _______________ _______________. Farmers had been struggling with _______________ _______________, _______________ _______________ _______________ and _______________ _______________ _______________ for years but now they were forced to watch their crops wither away before their eyes. Since only _______________ could bring relief and since _______________ did not come the regions became known as The _______________ _______________. To make matters worse plagues of _______________ swarmed over the farmland _______________ the leaves from every plant they passed. As the drought persevered farm prices, already low, steadily decreased and the threat of _______________ _______________ loomed: it became clear to many that moving _______________ was the only option because _______________ was unaffected by the drought and offered farming jobs to _______________ workers who would do _______________ labor for _______________ _______________. Many former land owners from the Great Plains packed everything they owned on their family automobiles and moved to _______________ where they all became known as _______________ which was a derogatory term for people who came from the _______________ area. Even though jobs were plentiful at first, as the drought wore on and as more and more former farmers from the Great Plains arrived, the jobs in _______________ became harder to come by, MINORITIES DURING THE GREAT DEPRESSION – 10:19 3 The Great Depression Minority groups such as _______________ _______________, _______________ immigrants and _______________ were often the hardest hit groups during the Depression. When employers were forced to lay off workers _______________ _______________ were routinely the first to go and they were usually the last too be hired as long as there were _______________ men seeking jobs. _______________ were seen as a threat to the job market. Many immigrants were _______________ and some state governments even forbade immigrants to _______________ their _______________. Since domestic servants were seen as expendable luxuries many _______________ lost the only job for which they were eligible. Some women were hired into _______________ work because they could be _______________ _______________ than _______________ for the _______________ _______________. Women working in this manner came under fire from men who thought they shouldn’t be working in the first place but especially from those men _______________ _______________ _______________. THE “HOOVER DEPRESSION” – 11:18 Many homeless Americans formed groups who built new communities or _______________ _______________ on the outskirts of cities. Since these homeless Americans blamed President Hoover for the Depression the shanty towns came to be called _______________. Hoover’s name became so synonymous with the Great Depression many Americans began to call it the _______________ _______________. In 1932, an election year, Americans were looking for a _______________ _______________. Franklin Delano Roosevelt had been governor of New York where his _______________ politics made him immensely popular with those suffering through the Depression. Roosevelt promised to break with the _______________ of the current (Hoover) administration offering citizens what he called a _______________ _______________. THE NEW DEAL – 12:50 Hoover was frequently – and wrongfully – portrayed as the _______________ of the _______________. 4 The Great Depression Roosevelt defeated Hoover in the 1932 election by one of the largest _______________ in American history carrying all but six of the nation’s forty-eight states. During his inauguration speech in 1933, Franklin Roosevelt (FDR) asserted that _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________ _______________. FDR felt his election was a _______________ by the American people. Not only had the American people elected him president – the first democrat in twelve years – but Democrats were also given a _______________ in Congress. Roosevelt knew he had the public’s _______________ and this was crucial during Roosevelt’s _______________ _______________. The first issue FDR addressed was _______________. FDR declared a _______________ _______________ temporarily closing all banks in the country Government officials _______________ the banks Banks allowed to _______________ were insured by the Federal Deposit Insurance Corporation (FDIC) Since the federal government was insuring their money, many Americans felt secure in _______________ money into banks again. On March 12, 1933, FDR gave the first of what came to be known as his _______________ _______________ _______________: using the new medium of _______________ he spoke to the American people about the banking crisis. In his fire side chat Roosevelt treated the American public with _______________ and did not _______________ them any of the _______________: by being so forthright he gained the trust of many of his listeners. While describing exactly how bad things had gotten FDR in his fire side chats also _______________ Americans that together they would make it through. Roosevelt also pushed for the end of _______________. FDR felt lifting the ban on _______________ would improve _______________: on April 7, 1933 a new, low alcohol beer went on sale. This act did just what was intended and made _______________ for Roosevelt grow even further. FDR sought a way to get the _______________ moving again. While Hoover had thought financially stimulating _______________ _______________ would help the American people since more jobs would become available. Hoover worked from the _______________ of the economic pyramid _______________ to the _______________. FDR differed in this viewpoint feeling instead that financial help given to the American _______________ would in turn help big business. 5 The Great Depression Roosevelt pushed through a host of new legislation that would work from the _______________ of the economic _______________ up to the _______________. These acts and administrations were referred to by initials and many people came to refer to them as _______________ _______________. The first measures were designed to get people _______________ again. The _______________ _______________ _______________ (CWA) gave the unemployed jobs in building and repairing roads and parks among other useful services. The _______________ _______________ _______________ (CCC) was established around the same time and employed over 2,000,000 men who worked to restore forests and build new parks, The _______________ _______________ _______________ _______________ (NIRA) was passed in an attempt to fix the problems in industry. The NIRA created the _______________ _______________ _______________ (NRA) which boosted declining prices and allowed trade organizations to form between competing companies who were allowed to set minimum wages and minimum prices seemingly in violation of the Sherman Anti-Trust Act. (Eventually the Supreme Court ruled much of the NIRA was unconstitutional because it allowed competing businesses to form unions that could be considered monopolies.) The _______________ _______________ _______________ (PWA) – a portion of the NIRA – was left in tact however. The PWA was created to giver more unemployed Americans a chance to earn a living while bettering society by building schools, paving roads and constructing dams. The _______________ _______________ _______________ (FSA) lent money to farmers and sharecroppers to help them buy their own land. The _______________ _______________ _______________ _______________ (FSRC) worked to reduce the surplus in produce helping to raise prices for agricultural products. The _______________ _______________ _______________ (TVA) was created under the provisions of the _______________ _______________ _______________ (REA). The TVA put people to work building dams on the Tennessee River and a hydroelectric plant generated electrical power from the water in the lakes and a large part of rural America received electricity for the first time. Despite the best efforts of FDR many Americans still remained _______________. The _______________ _______________ ______________________________ (FERA) was authorized to give a total of $500,000,000.00 to individual states to help their relief organizations. The money was to be used to help those in dire need of _______________, _______________ or _______________. The monumental reform legislation passed during the first one hundred days of the Roosevelt administration sent a powerful message to the _______________ _______________. The _______________, _______________ and _______________ measures proved to the country that the president was committed to easing their suffering. 6 The Great Depression These measures came with heavy price tags and to cope with the costs the administration operated on a system called _______________ _______________. This meant that the federal government was _______________ more money than it was _______________ in taxes. Roosevelt and his cabinet felt that by keeping taxes _______________ and spending they would give the American people more money to _______________ and _______________. When the economy bounced back the government would recoup its losses by _______________ taxes and _______________ spending. Roosevelt’s Hundred Days did much to boost the _______________ of the American people but in terms of the economy only a _______________ _______________ was achieved. Millions of Americans were still _______________. _______________ still plagued the farmers in the plains. In 1935 Roosevelt began a second wave of New Deal _______________. A SECOND NEW DEAL – 20:34 Many of the wave of second new deal acts were aimed at _______________ and _______________ previous New Deal legislation. The _______________ _______________ _______________ was drastically different: it provided _______________ for elderly workers, _______________ for victims of industrial accidents, _______________ _______________ to the unemployed as well as many other Americans in need of assistance. Conservatives in Congress were _______________ over the Social Security Act feeling it was an inherently _______________ system that would destroy the _______________ of the hard working American people. Extreme _______________ factions felt the act did too little for the farmers, the sick and the elderly. Louisiana Senator Huey P. Long came out strongly against Social Security feeling the government should guarantee every American family an annual income of _______________. Using the slogan “_______________ _______________ _______________ _______________” Long gained a huge following among the people hardest hit by the depression. FDR’s program sought to _______________ _______________ ground between the _______________ _______________ traditionalism of the conservatives and the _______________ yet _______________ goals of those like Long. The American people were very much in favor of the Social Security Act and within two years the Social Security Board was collecting payments from _______________ and their _______________. 7 The Great Depression The Social Security Act marked a bold _______________ from traditional American government. No longer would the government continue its _______________ _______________ policies toward the economy. The new measure would ensure _______________ _______________ of the American people from the cradle to the grave. PROGRESS FOR LABOR – 22:59 _______________ _______________ made huge advancements during the period of the New Deal. FDR wanted the government to _______________ the number of hours in a work day, raise _______________ and _______________ unemployment insurance. As a result of many new pro-labor laws membership in unions _______________ tremendously. Congress also passed the Anti-Strike Breaker Act making it illegal to _______________ or _______________ strike breakers involved in _______________ or _______________ _______________. The Public Contracts Act established _______________ _______________, severely limited _______________ _______________ and provided for _______________ _______________ _______________. The Fair Labor Standards Act solidified a _______________ _______________ and _______________ for _______________ _______________ work. In February, 1937, the United Automobile Workers of America _______________ a _______________ _______________ for laborers everywhere. They forced General Motors, one of the most powerful companies in the country, into _______________ their demands. Instead of walking off the job and forming picket lines, the striking workers remained inside the plants and factories but _______________ to work until their demands were met. This came to be known as the _______________ _______________ _______________ and it proved to be a highly effective tool for labor. Since the striking workers remained inside the work place it was impossible for employers to bring in _______________ _______________. THE WPA – 25:00 In 1935 the _______________ _______________ _______________ (WPA) established another important program. The WPA already employed millions in constructing public buildings such as _______________, _______________ and _______________ _______________. 8 The Great Depression A key aspect of the WPA was that it provided work for _______________, _______________, _______________ and _______________ – professions largely ignored by previous reform. o _______________ painted murals to beautify public buildings. o _______________ provided entertainment to the depression weary people. o _______________ composed state travel guides which combined information on the land, its history and architectural curiosities. o WPA _______________ traveled throughout the country photographing the plight of the American people. ENTERTAINMENT DURING THE DEPRESSION – 26:24 Economic hard time did not stop Americans from seeking _______________ and _______________. _______________ became extremely important to citizens looking to forget their troubles for a few hours. _______________ provided cheap _______________ and often served as sources of _______________. As the depression wore on, people sought less _______________ ways to have fun. Families often stayed home and played _______________ _______________. In a time when many Americans did not have enough to eat, _______________ _______________ became popular. _______________ _______________ were also popular. One form of entertainment reached its golden age during the depression – by 1934 60% of Americans owned at least one _______________. In addition to the fire side chats by FDR _______________ offered a host of _______________ programs. Also popular were _______________, _______________ and _______________ _______________. Those who did not have the money to go to concert halls could tune in to hear _______________, _______________ and _______________ music. One of the most _______________ news programs to be broadcast over the radio came on May 6, 1937. o Radio reporter Herb Morrison was documenting the arrival of the _______________ in Lakehurst, New Jersey when it suddenly burst into flame. o Morrison broadcast what he saw and the story was broadcast later along with _______________ with the survivors. o _______________ the nation stunned Americans listened with rapt attention. Radio audiences also listened with horror as two of the 1920’s greatest heroes experienced _______________ during the Great Depression. o In 1932 the infant son of _______________ _______________ was kidnapped and murdered. 9 The Great Depression The killer was brought to _______________. The media circus around the trial deemed the case the _______________ of the _______________. o In 1932, _______________ _______________ became the first woman to fly solo across the Atlantic: in July, 1937, she attempted a daring around the world flight. Her plane _______________ and was assumed to have crashed somewhere off the coast of a remote island in the _______________. President Roosevelt sent out a massive search team but on July 18 the search was abandoned and the team returned empty handed – her remains have _______________ _______________ _______________. THE DEPRESSION ABROAD – 29:25 In the aftermath of World War I there was an enormous _______________ in Europe. The United States was one of the only countries involved in the war that did not suffer an extreme downturn in their _______________ in the years immediately afterwards. The _______________ in some European nations had gotten so bad they were looking for any means of salvation. During the 1930’s _______________ dictators like Adolph Hitler in _______________ and Benito Musssolini in _______________ came into power. These leaders promised their people new eras of _______________, but the promises came at the price of _______________. Through _______________ of _______________ the Italian, German and Japanese armies _______________ their empires and posed a new threat to _______________ around the world. The American public, still wary of _______________ _______________, made it clear they wanted no part in the new war that loomed. Neutrality legislation enacted between 1935 and 1937 prohibited trade with any warring nations. When Germany’s nazi army invaded _______________ in 1939 World War II erupted in Europe. Roosevelt was worried about _______________ public support and so maintained the government’s _______________. Despite all the New Deal legislation and the many improvements that had been made millions of Americans remained _______________. FDR feared that involvement in another foreign war would cost him the _______________ he needed to _______________ further New Deal _______________. 10 The Great Depression But the pact FDR made with his people was soon to be _______________ as an unprecedented act of aggression on America soil proved that _______________ was not an _______________. THE END OF THE GREAT DEPRESSION – 31:17 As a result of the Japanese attack on Pearle Harbor the United States declared war on the _______________ _______________ of Japan, Germany and Italy. As war production _______________ millions of Americans were put back to work: in addition the federal government _______________ billions of dollars to build up its _______________ and _______________ _______________. This massive increase in _______________ _______________ ended the Great Depression and a period of economic prosperity soon followed. Though it was ultimately _______________ _______________ _______________ that brought about the end of the Great Depression, it is FDR’s New Deal Legislation that has had the most lasting effect on the emergence of modern America. Under FDR’s leadership the American government took an _______________ role in maintaining the welfare of its people. Services like Social Security, Unemployment Insurance, minimum wages and health and safety regulations have _______________ that fewer Americans fall behind. Reforms in banking and stock exchange practices serve as protections for _______________ _______________. Though _______________ _______________ may happen from time to time the financial securities that were establish by the _______________ _______________ legislation help to protect us from ever having to live through another Great Depression. 11