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Notes for october 19-21

by: Elizabeth Ronecker

Notes for october 19-21 HIST 1200 (History, Steven Watts, Survey of American History Since 1865)

Elizabeth Ronecker
GPA 3.5
Survey of American History Since 1865
Steven Watts

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notes over the great depression
Survey of American History Since 1865
Steven Watts
Class Notes
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This 6 page Class Notes was uploaded by Elizabeth Ronecker on Sunday October 25, 2015. The Class Notes belongs to HIST 1200 (History, Steven Watts, Survey of American History Since 1865) at University of Missouri - Columbia taught by Steven Watts in Fall 2015. Since its upload, it has received 13 views. For similar materials see Survey of American History Since 1865 in History at University of Missouri - Columbia.

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Date Created: 10/25/15
Notes for the week of Oct 1921 2015 History 1200 Professor Watts The Great Depression I challenging the American way of life Terms Samuel Insull Herbert Hover Franklin Delano Roosevelt New deal CCC PWA TVA SEC WPA NRA John Maynard Keynes blue eaglequot the folkquot Aaron Copeland Thomas Hart Benton Woody Guthrie I The crash of consummerism Followed by the worst depression in American history and lasted a a b d decade Great deal of debate on the causes of the great depression broad agreement on broad problems 3 big problems i Great weakness in business structure volatile despite the prosperity of the 1920s 1 1926 height of prosperityextraordinary number of bankruptcies 2 1927 23000 business failures 3 2 main industries affectedautomotive and construction 4 Samuel Insull ceo of electric company operated in 39 states provided most electricity that Americans use a b His company was a holding company for smaller companies All companies bought stock in each other so the values raised Since each company was linked and when the stock market started to decline so did the companies ii Distribution of wealth was uneven stayed at the top of the classes and didn t penetrate down a 10 of population controlled 50 of wealth iii Nature of international market a b f After WWI economy recovery of Europe was big and they relied heavily on American goods Raised the question of how they afforded the American goods Europe got money from Germany as one of the clauses of the Treaty of Versailles But where did Germany get the money gt Big American banks Banks loaned money which was given to the rest of Europe to pay for American goods big cycle of America paying America American prosperity in a bubble In matter of weeks stock market completely derails e Economy goes into a downward spiral f 19301931 enormous depressiongt long unemployment lines men desperate to find work people trying to get food businesses going under factories boarded up 1 Settling into American was an atmosphere of failure and dread emotional depression 11 The Corporate Welfare State a Background i Herbert Hooverelected in 1928 golden boy of the republican party Midwesterner technocrat 1 Appointed to help with sending food to Europe during the war praised for his efforts with this 2 Creates a want for business and government together 3 Fairly traditional of corporate liberalismgt big business as friends and allies of government 4 Tries to promote big business to fix great depression Loses credibility thus becoming the scapegoat for the problems of the great depression a Villages of shacks shanties called hoovervilles sarcastic remarks ii Americans come to conclusion that the government would provide and protect for them something that hoover never understood b Election of 1932 i Dread and fear ii Unemployment is 30 iii Widespread poverty iv Republicans nominate Hoover v Democrats nominate Franklin Delano Roosevelt FDR vi FDR unknown at the time ran a low kept campaign 1 Understood he would win just on the fact that he was not Hoover c FDR takes office in 1933 d Immediately launches ourish of activity outside of DC i 1St 100 days of New Deal ii New Deal lots of legislation to get up and running e Goals of the New Deal i Restore consumer abilities 1 Emergency banking relief fraud was a psychological ploy to create a sense of confidence about the government ii Rebuild the finance of the governmentgt end prohibition 1 Tax alcohol despite depression people still figured out how to get money for alcohol a Trickle of tax money financial power iii Provide relief to Americans 5 1 Bills created to help 2 Agriculture bills to help farmers buy materials and plant crops 3 Agencies to help people find jobs like Civilian Conservation Corps CCC a Pay people to build public works like bridges iv Relying in theories of John Mayar Keynes 1 Intellectual godfather of the new deal 2 To make things like a modern economy was the idea of deficient spending by the government which in turn would create jobs 3 Get money back later from the taxes of wages 4 Priming the pumpquot f TVA Tennessee Valley Authority make hydroelectric dam in a very poor part of TN i Bring poverty stricken homes into modern times g WPA Work Progress Administrationdeficit spending to build schools libraries h Bring federal government into a manager of economy expanding role of big government i NRA National Recovery Act most sweeping of them all i Graft codes of competition ii Limited or expanded production in certain areas iii Blue Eaglequot shown everywhere represented the government involvement j SEC Security of Exchange and Commissionregulations and by laws that govern what people of wall street can do k FDR linked consumerism as a way of life Greatly strengthen government management over economy senior partner III Ironies of the Depression a Things really awful and Americans act weirdly b They blame themselvesgt sense of American tradition of individualism is gone c Americans look to the past for substance and survival i The folkquot ordinary people will get America out of this crisis ii Thomas Hart Bentonromanticized farmers and factory workers iii Woody Guthrie wrote folk music d The Great Depression 11 Demagogues Radicals and the New Deal Terms Dr Francis Townsend Father Charles Coughlin Huey Long Mike Gold New Masses partisan review popular front WPA Social Security Act Wagner Act NLRA FDR starts to push New Deal Gets a lot of support because 0 O Genius that he was able to instill confidence in everyday traumatized Americans that things were getting better only thing that is fear is fear itselfquot Personality was a positive person gave a sense that there were problems but that he was fixing them Volume of activities that were pushed through congress creates allusion that problems were being attacked 1935 unsettling fact that the depression was not lifting being attacked but no effect 0 O O O Unemployment was between 2030 Net income is 50 of what it had been in 1929 West of the country had a shortage of food Business failures bankruptcies GNP was half of what it had been before the crash Various voices of dissent and criticism started to challenge FDR New Deal and Corporate Liberalism They were from demagogues and radicals Demagogues a d Support from the upper working class and lower middle class people that had decent jobs before the crash sort of doing ok 1St to really see the depressionstruggling Great deal of discontent in society and they wanted change Dr Francis Townsendphysician late 60s i Deeply concerned about the decreasing of the elderly ii Many speeches about the elderly iii Argues everyone over 60 should get 200 pension from government each month iv Townsend clubs start to pop up with petitions and letters to representativesgt 10000 people signed petition v Problem was it was never clear on where the money should come from vi If put into action it would take 12 of American wealth in the great depression and give it to 10 of the population Father Charles Coughlinradio priest local celebrity in Detroit Charismatic radio personality i Originally big supporter of FDR and new deal ii Coughlin begins to change as he sees no change with the new deal iii Appeals to the desperate and discontented iv Claims wall street and bankers are the causes of the great depression and did this on purpose v Antisematic blames problems on the Jewish bankers vi Insist that banking industry should become public thus the people in control of it e Huey Long king fishquot Louisiana governor and senator theatrical charismatic politician i Old fashion populist radical ii Political machine long dynasty in Louisiana politics till 1970s iii Ruthless iv Corrupt V Very amboyant vi Threat to FDR while senator vii 1934 share our wealth plangt every man a kingquot 1 American government would guarantee house worth 5000 and a wage of 2000 2 Pay for this by seizing any property of people that made 500000 or more 3 Put large taxes on any one that make 1 million or more viii Tries to run for president but ends abruptly by being assassinated on the state steps by an opponent f Demagogues are suggesting fear anger and desperation g Appeals to evoke emotion h Suggesting that all is not well 11 Radical Dissent a Growing chorus of discontent from the west and socialists b Radicals suggest that capitalist system is almost over c Socialists arguing that capitalist system needs to be shoved and socialism put in its place d Mike Goldradical irting with communism and socialism i Working class eastern city ii Had been associated with IWW iii 1925 associated with New Massesgt communist magazine that criticizes capitalism iv Believed that capitalism was on its last leg v Needed to destroy corporatism and redistribute wealth vi Creation of workers democracy e Partisan review people that wrote for it were new Yorkers who were on the left called PR crowd i Venue to criticize capitalism ii Argued socialism and a revolution iii Believed should be a democratic way nonviolent iv Intellectuals invested in art believed that modern art was part of a social revolution v Pathway to reform f Popular front program of the American communist party 1936 i Response to the rise of fascism all over the world ii Says that fascism is the true enemy iii The only way to end fascism is to create a grand alliance iv Alliance of communism left right moderates all parties to band against fascism g All of the radicals see great depression as problem but opportunity to create variant of socialism III The Second New Deal a b j k l FDR s response to demagogues radicals and socialism FDR elected four ties because he had a finger in the pulse of American life Radicals and demagogues were creating real problem 19351936 attempting reelection so tries to move new deal ideas to the left Tries to get more government involvement More of a tempt to collective well being of Americans Work Progress Administration WPA enormous government agency has a government budget of 5 million i Projects of road mainitence building buildings ii Directly employs 2 million people and even more indirectly iii Suggest a move to the left Social Security Act great legislative act and still in place today i Attempted to provide safety net for the elderly ii Funded by tax on existing workers iii Owners have to pay as well iv Problem that more workers at front end then at the back end v Built in expanded equation 1970 about every American was covered Wagner Act NLRA national labor recovery act i Bring federal government to the rescue of labor unions ii Government embraced labor union saw it as a junior partner iii FDR fully being labor unions iv Legal rights to organize in any union and illegal for owners to stop the v Illegal to for companies to create their own unions because when created by company then backed by company vi Illegal to discriminate against any attempts to unionize vii NRLA board any problems with unions they would decide monitored the election of unions FDR was very successful with 2rld new deal Wins massiveelection in 1936 Great depression still lingered till WWII which ended it


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