Lecture Notes from the Week of 3/21/16
Lecture Notes from the Week of 3/21/16 Hy 104
Popular in American history after 1865
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This 3 page Class Notes was uploaded by Jess Snider on Thursday March 24, 2016. The Class Notes belongs to Hy 104 at University of Alabama - Tuscaloosa taught by Kari frederickson in Winter 2016. Since its upload, it has received 47 views. For similar materials see American history after 1865 in Art at University of Alabama - Tuscaloosa.
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Date Created: 03/24/16
Lecture Notes From the Week of 3/21/16 Herbert Hoover, the Great Depression and the Election of 1982 I. The presidency of Herbert Hoover(Republican) a) From a humble background, orphan, Stanford graduateengineer b) During Wilson’s presidency, he’s in charge of food supplies c) Symbolic of 1920’s d) Scapegoat of the 20’s for the Great Depression II. Cause of the Great Depression a) Agricultural overproduction i. Too much producednot selling b) Maldistribution of wealth i. Not adequately disturbed ii. 1929 one tenth of one percent had an income equal to those in the bottom percent Gap continued to increase through the 20’s iii. Families had no savings no fallback c) Income/productivity gap d) Overextension of credit i. Good thing at first ii. No more credit used it all e) Psychology of depression i. Spiraling effect ii. No consumption due to fear shut down Money hoarded demands for goods dropped unemployment grew III. Hoover’s Response Doesn’t believe in handing out aid local problem Welfare will make people dependent Gave money to red cross and other charities a) Reconstruction Finance Corporation i. b) Bonus Expeditionary Force, 1932 i. Group of WWI veterans marched at nationals capital to receive money Felt they were due wages from the time they served(catchup pay) Money set aside until 1945 for them ii. Walter Waters idea to lobby for the bonus Representatives pass it but the Senate does not no money for vets Given money to send them home disheartening IV. Election of 1932 Hoover wanted reelected republican party didn’t want him a) President Franklin Delano Roosevelt(Democrat) Franklin Roosevelt and the New Deal I. Election of 1932 a. Franklin D Roosevelt: Background i. FDR campaigned against Hoover's protectionist policies, which he believed to be the main culprit of the Great Depression. b. Prohibition was a target of Democrats, as many Republicans defended its institution c. Roosevelt won in a landslide with 57% of the popular vote. First New Deal d. Relief: Immediate action taken to halt the economies deterioration. i. Welfare 1. Federal Emergency Relief Act (FERA) a. gave loans to the states to operate relief programs b. established as a result of the Federal Emergency Relief Act ii. Jobs progress 1. Civilian Conservation Corps (CCC) a. established to relieve unemployment by providing national conservation work primarily for young unmarried men iii. Gender bias of New Deal programs 1. Women who sought relief or paid employment risked public scorn or worse for supposedly taking jobs and money away from more deserving men 2. New deal aimed at family wages the husband e. Recovery: "Pump Priming" Temporary programs to restart the flow of consumer demand. i. Agricultural Adjustment Act (AAA) 1. help farmers by reducing production of staple crops, thus raising farm prices and encouraging more diversified farming a. raised value of crop prices ii. National Industrial Recovery Act (NRA) 1. Gains for workers a. ended child labor in the textile industry 2. Shortcomings a. favored employers b. codes were often easily manipulated or avoided II. End of the First New Deal a. Although unemployment remained high, the economy had steadily improved b. In the wake of the elections, Roosevelt did not offer any new domestic programs in his State Roosevelt and the Second New Deal, 19351938 I. Challenges to Roosevelt a. Banking crisis i. Had congress pass the Emergency Banking Act b. High unemployment i. Launched the CCC c. Prohibition II. Second New Deal, 193538: Remembering the “Forgotten Man” a. Works Progress Administration (WPA) i. largest and most ambitious American New Deal agency, employing millions of unemployed people (mostly unskilled men) to carry out public works projects, including the construction of public buildings and roads b. Social Security Act, 1935 i. system of oldage benefits for workers, benefits for victims of industrial accidents, unemployment insurance, aid for dependent mothers and children, the blind, and the physically handicapped c. Wagner Act, 1935 i. established the National Labor Relations Board and addressed relations between unions and employers in the private sector d. Fair Labor Standards Act, 1938 i. establishes minimum wage, overtime pay, recordkeeping, and youth employment standards affecting employees in the private sector and in Federal, State, and local governments
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