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20th c.- The Great Depression

Added Mar 03, 2013 •

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skin on the campaign show me one prosperity and a chicken in every pot Herbert Hoover accepted the Republican party's nomination to run for president when did the United States go to the final plan overpoch than ever before addicted soon with the help of God the inside of the day when poverty will be banished from this land yet shortly after his election economy banks closed millions of people became jobless homeless and hopeless during Great Depression The Roaring Twenties ruins the construction of U housing had to create businesses had too much inventory and too few buyers nevertheless just wanted to believe that the good times would last forever Fortune people with little money to spare I wanted it on the extra stockbrokers readily agreed to sell shares how much were they would win citizens money these investors figured the Stock's price was bound to go up and up allowing them to pay back the stocks original price penfold Rising price of stocks even distinguished Yale University Economist Irving Fisher culation is marching along of permanently High what's the simple fact was that the price paid for many stocks was in Dewey out of proportion to the actual profitability of the companies creating the illusion increase value on October 29th 1929 teen million shares and symbols a mini for just pennies to share millions of others. he just a matter of hours the stock prices took such a nosedive did any games made over the previous year the market collapse was the most distressing downturn in the history of the New York Stock Exchange instead of stressing in fact a number of investors committed Brandon facial ruin  Black Tuesday May have signaled the start of the Great Depression but the collapse of the stock market wasn't only cause of the nation's Financial woes the federal government of the 1920s governmental regulation especially over the stock market many businesses borrowed more money to expand high terrorists that accept American business owners happy because they products please  for instance Germany was barely able to pay the World War 1 reparation she owed at high Terrace like the Hawley Smoot Tariff Act passed by Congress in 1930 only made matters worse the church goal was to protect American farmers manufacturers but it backfired America found itself unable to sell her Farm goods and menu World Trade intern faltered as foreign country wishing industries were struggling even before Black Tuesday throughout the boom times of the Roaring Twenties agriculture do you Automotive in railroad industry beginning to feel the unemployment rate the gap between the handful of wealthy Americans and the rest of the population got even wider even though most Atkins have not profited from the economic boom of the 1920s well beyond their means the banking industry to with hardhead some banks it invested heavily in the stock market As Americans began to realize the state of economy daughter taken from Bankie banx simply couldn't instantly produced leaving depositors with thanks so wiped out nearly 9 million individual savings accounts 659 Banks Road what did 1929 and by 1933 one quarter of America's Banks had failed person lost their jobs one out of every four workers was Joplin  only a handful of wealthy investors property stock market link President John F Kennedy's Father Joseph P Kennedy or brilliant investor and presidential adviser Bernard Baruch legendary as The Man Who Sold out before the crash performer and humorist Will Rogers probably put it best men in our country could buy the whole world in 10 million can't buy enough to eat so the millions of Americans grim and uncertain future  soup kitchens and bread lines became as commonplace as the flappers and speakeasies in the Roaring Twenties Herbert Hoover's campaign promise of a chicken in every pot couldn't have been farther from the truth American towns and cities anything to help the sound  the jobless became the homeless shantytowns makeshift communities of shacks protein from wooden crates tar paper and cardboard sprang up disillusion citizen slipped under blankets turn lights on cars hoping they wouldn't be hoping they find a job approximately 2 million men oboz wandering the countryside looking for work  between 1929 and 1932 roughly 400,000 Farms were foreclosed when Farmers couldn't pay their mortgages and Banks repossess the property thousand Farm going to eat then to make matters even worse drought coupled with the production of crops in the Great Plains turn the area from Texas to Oklahoma in the wood dust bowl  1934 strong winds blew tons of dust from the planes all the way to the east coast dust even coded New York City and settled on 500 miles out to sea in the Atlantic Ocean unemployment and poverty heard everyone especially children menu school to work and help their family survive diet related illnesses like rickets and scoliosis 1802, once again President Hoover tried to reassure the nation by saying recovery is just around the corner it was not to be and more Americans grew disenchanted with his policies and administration Secretary of the Treasury Andrew ankle the beliefs of most of Hoover's advisers that the economy would recover on its own  Hoover thought the government must take some action mysterious making government too strong and so he chose a conservative approach calling together business banking and labor leaders urging them to avoid laying off workers or calling strikes  then he'll authorize the expenditure of federal funds for large Public Works projects like Boulder Dam later renamed Hoover Dam to create jobs and wages for thousands of workers over don't give in two needy Americans would send remind there's some respect and look to private Charities to help the hungry instead he proved more than billion dollars an emergency financing to businesses hoping there we need success would trickle down to the people who needed assistance rather unemployment Americans already tired of where is pessimistic and cautious approach then became outraged by his treatment of a group of World War 1 vessels in 1932 Congress issued Veteran's bonus certificates for their military service $1,000 to be redeemed in 1945 it's made by the economic Outlook of the times demanded the immediate payment of their bonuses involved in an attempt to satisfy their Texas Congressman Wright Patman proposed a bill in which the government would immediately give veterans $500 in cash instead to show Chapman's plan between 10 and 20000 veterans and their families peacefully month to Washington DC this so-called bonus is dambly's to Shanty Town inside of the Capitol building over provided food and supplies for them but when Congress vetoed the bill on June yes the Bonus Army to leave much left but approximately stayed behind Uber ordered general Douglas MacArthur Stockton soccer shoes the courses at story in Lake more than 1,000 people would an 8 year old boy The Shanty Town burned to the ground  public support for Hoover founder and with a Chance change direction Americans overwhelmingly embrace the new president and Franklin Delano Roosevelt known as FDR Roosevelt won a landslide election to become the 32nd president FDR two-term Governor New York energy and optimism to the Oval Office Christian positive and the Democratic majority in both houses of Congress he was able to make reforms that became known as the New Deal in just his first 100 days in office FDR proposed and Congress approved more than 15 New pieces of legislation Angel providing relief for the needy recovery for the faltering economy and reform of the American Financial system one day after becoming president FDR to clear the bank holiday closing all banks in preventing any further withdrawals of money by depositors safe in the banking system then he persuaded Congress to pass the Emergency Banking Relief act authorizing the US Treasury Department stack the countries banks that allow only those that were financially solvent to reopen  the ACT offered loans to those Banks which needed us stand with the creation of the Federal Deposit Insurance Corporation for FDIC which provided federal insurance for Bank depositors let's begin to cautiously trust the banks once more  the federal Securities Act help to restore public confidence in the stock market as did the establishment of the Securities and Exchange Commission which prevented the manipulation of stock prices  Branson Wisconsin searching by the new pregnant only eight days after his inauguration Roosevelt took to the airwaves as Millions gathered around there you're his first fireside chat explained in simple terms the steps taken to reform the American economy Roosevelt direct personal approach to the American people was reassuring and help him Garner the support of Americans to enact Civil War policies in push toward recovery the Civilian Conservation Corps the CCC was formed to put young men to work the CCC planted 100 million trees on the Great Plains but almost three million men got much-needed one meanwhile the federal emergency relief Administration play million dollars in direct Aid to the homeless unemployed until the New Deal also created the day the public works which provided funds to the states so they could build schools libraries and other community building and create jobs for citizens when did TWA sing to the finish on Roosevelt created more than 4 million jobs at workers built 1933 FDR's Administration was able to pass the national industrial Recovery Act and Ira various Industries and set prices the ACT also recommended minimum wage and maximum meanwhile the Tennessee Valley Authority was organized to build dams to provide electricity flood control and of course I'm reason several Southern States that same here Roosevelt also submitted the agricultural adjustment act which limited production in cruise prices and help me do Surplus fight launching a new pieces of legislation don't the administration still hadn't gone far enough and helping the poor and reforming the economy  some fear the New Deal was mostly sitting already wealthy business owners and gave too much power to the government  even express where is New Deal policy foster home was unconstitutional saying that it's enforcement women cozy on the government's powers controls and regulations should be decided by individual states dismayed and fearing conservatives and the Supreme Court the New Deal FDR proposed an intriguing Bill to Congress Roosevelt's so-called Court Reform Bill would have added six more justices to the Supreme Court Justices he has president would nominate it was obvious that FDR would choose those sympathetic who is new deal policies the bill failed in Roosevelt image regardless because of Court resignations the president was able to appoint seven new justices in the next 4 years who did support his but after having seen the last of his critics Roman Catholic priest and radio broadcaster Father Charles Coughlin silver 40 million listeners each week as he challenged the New Deal Coughlin wanted a guaranteed annual income for Americans and National is snow banks in time however his anti-semitic comments cost him most of his supporters dr. Francis Townsend another route an opponent to FDR's policies clean Roosevelt wasn't doing enough to help the elderly Townsen one widespread support with his demand for an ash next session plan this money collected by the government and return directly to the people from whom it was collected in the palm of Pensions Everett Louisiana governor and senator Huey Long cold share our wealth  are we talked to promises from the president been a minute time now we wanting a fulfillment don't have to work no answer I just mean anything to what I know kind of low except one that gives informa home and comfort education to our people will satisfy stop in the Americans agree with the King Fish and more than club spring up across the country in 1935 at the height of his popularity long was assassinated Puerto Rico bounce fix FDR knew the economy had improved but not as much as he hoped for and so he launched with the help of his Humanity sing in Whitestone or the second new deal  mrs. Roosevelt traveled the country from coast to coast in the property urging her husband to provide even more help to the needy personal friend  thousands of children wrote to her asking for help  SD are convinced Congress to pass more legislation to spur the economy including a second agricultural adjustment act farmers servation so they could buy their own land and established camps for migrant workers  the Second New Deal most ambitious program when's the WPA the works progress administration WPA created more than 1843 statistics libraries schools and hospitals who does Vontaze and musicians found work in the WPA2 painting murals on public buildings writings performing and composing the National Youth Administration was also created to provide Aid and part-time employment for stew I need the Second New Deal also help reform labor laws with the passage of the Wagner Act which supported workers rights to form unions establishment of the National Labor Relations Board to prevent unfair labor practices from 1933 to 1941 what is workers Rose from Congress also passed the fair labor standards act requiring minimum wages and 1 hours for workers despite the administration's prove labor policies strikes with prevalence and often led to violence lost their lives perhaps the most important Legacy of the second new deal was the Social Security Act of 1935 for the first time Americans over 65 years of age and their spouses and Insurance jobless workers unemployment children and the disabled received Aid in 1935 only about 30% of American Farms at electricity so congress with Roosevelt surgeon ministration 10 years later 45% of Rural America have electric power who is widespread support organized large FDR elected as president in 1936 voted for a Democratic Party candidate Frances Perkins became the first female Secretary of Labor and Mary McLeod Bethune was appointed head of the office of minority affairs ministration becoming the first African American woman to head of federal agency meanwhile Mrs Roosevelt American Revolution publicly resigning her membership when the DAR refuse to let Marian Anderson Washington DC's Constitution Hall Clipper color instead Eleanor Roosevelt in the midst of Labor unrest conversation  American still manage to find fun at the movies they could forget their troubles and one of more than 50 radio to Interchange a weary America practically every home had a radio and family why are the Burns and Allen and thrilled to the drama of Orson Welles Mercury Theatre on the air by 99 should be on the road do I get a Mac recovery unemployment the economy started to improve but the Republican Party Block any further relief efforts to Meanwhile and America two more massive investment in manufacturing guns airplanes change the country out of the Great Depression

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20th c.- The Great Depression

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