The Great Depression

Jeremy Hogaboom, William Cairns, Katherine Strumpfer, Tyler Capra

The Great Depression was a bad time in America. It started in 1929 on a day

known as Black Tuesday. On black Tuesday, the market crashed, and everyone

was left broke. In this short book, the Great Depression will be described on the

next twenty pages

Teapot Dome Scandal

Bribery that took place in the US government from

1921­1922. Secretary of the interior Albert Bacon Fall had

sold Navy Petroleum to

private companies, with no

competitive selling. Fall

was eventually convicted of

accepting bribes from the private companies, and was

sentenced to prison.

Presidents 1921­1929

Warren G. Harding

Warren was the 29th president of the United States. During his presidency, the

Teapot Dome Scandal took place. Although he wasn't directly involved, the

reputation of his administration was forever ruined. Although, he never had to

face the ridicule due to the heart attack he had in office that left him dead.

Calvin Coolidge

Calvin Coolidge was the 30th president of the United

States and the Vice President of Warren G. Harding.

At the time of his presidency, Coolidge wanted to cut

taxes, and isolate the United States. Although Coolidge had many political views

on how to run the economy, he was in retirement by the time the Great Depression

began. He was quoted saying, “I feel I no longer fit in with these times.”

Causes of The Great Depression:

On October 29, 1929 aka Black Tuesday, over 16 million shares of the New York

stock exchange were traded, causing the market to completely crash at once. As a

result, The Great Depression began. With the people of the United States left

penniless, people began to panic. This allowed many politicians to step up and

create ideas to solve the nation’s debt.

Herbert Hoover 1929­1933

Within months of his presidency, the stock market

crashed and the market fell. He proposed a plan to cut

taxes, but before this could happen, congress made him the scapegoat, blaming

him for the cause of the Great Depression.

Plans Proposed to Help End The Great Depression:

The Townsend Plan created by a physician named Francis Edward Townsend.

The goal was to have senior citizens pay $200 dollars a month to be funded by a

2% sales tax. However, the plan didn't work because

Franklin Roosevelt opposed it.

The Agricultural Marketing Act of 1929

Established the Federal Farm Board from the Federal

Farm Loan Board established by the Federal Farm

Loan Act of 1916 with a recirculating fund of half a billion dollars.

Franklin and Eleanor Roosevelt

FDR’s New Deal Programs

The Civilian Conservation Corps (1933) One of the first programs under FDR’s

New Deal. It was intended to promote active citizenship through hard, outdoor

labor while the participants were taught environmental conservation.

Federal Emergency Relief Act­ FERA(1933)Passed in 1933 and renamed the

emergency relief administration started by hoover to fight the depression.

The Agricultural Adjustment Act(1933) A federal law created under FDR’s New

Deal. It was created to reduce agricultural production: the government would pay

farmers money to stop planting on their land and to kill off excess livestock. This

was a response to the Great Depression because the government thought wanted to

increase the value of crops and boost the economy.

The Tennessee Valley Authority(1933) A

corporation owned by the federal government that

was to provide navigation, flood control, electricity

generation, fertilizer manufacturing, and economic

development to the Tennessee Valley, an area that was particularly affected during

the time of the Great Depression.

Federal Securities Act(1933) The federal securities act gave investors access to

relevant financial information from corporations securities

offerings.

Homeowners Refinancing Act(1933) Passed by congress as a

part of FDR’s new deal, went into effect in 1933 to try to help

homeowners with their mortgages or to help them refinance

them.

Public Works Administration(1933) A large government construction agency for

public works.

National Recovery Administration(1933) Passed to eliminate cut throat

competition and develop a code of fair prices and practices for businesses.

The Glass­Steagall Banking Act (1933) Created because it was recognized that the

banking system needed reform. It was sponsored by Rep. Henry Steagall and Sen.

Carter Glass. The act was supposed to change the banking system in a way that

made it safer for people to utilize the assets of a bank, and “regulated interbank

control.”

Civil Works Administration(1933) US job creation program

established for the hard winter of 1933­34. These jobs were

temporary and generally low paid unskilled labor.

Securities Exchange Act(1934) Governed the trading of

securities in the secondary market, passed in 1934 in

response to the crash.

Beer and Wine Revenue Act(1934) Passed by FDR in 1934.

Created a tax on alcoholic beverages to try to generate

revenue for the government.

Federal Housing Administration (1934)Passed as part of the national Housing Act

in 1934, it required certain standards for construction and insured loans from banks

for construction.

United States Housing Authority(1934) as part of the new deal. Its goal was to try

to lend money to communities or states for low cost construction.

Schechter v. U.S.(1935)

Invalidated the National Industrial

Recovery Act and made the standards

for minimum wages, schedules for

work maximums and minimums,

gave the Agency for Industrial

Recovery large control to see

over the ensuring of “fair

competition”

The Wagner Act (1935) It established the National Labor Relations Board and

addressed relations between unions and employers

in the private sector.

The Social Security Act (1935) A social welfare

legislative act that was created the Social Security

system in America and provided assistance for

those who couldn’t work.

United States v. Butler (1936) The Agricultural Adjustment Act was seen as

intruding upon the state rights, violated the 10th amendment, and had stretched the

power of the federal government far over what it should have been. The tax overall

seemed oppressive on the farmers, controlling the amount of crops that can be

grown. 1936

U.S. v. Curtiss­Wright (1936) Power was given to the president at the time to make

embargos on arms and

weapons dealing to South

American countries

during the Chago War.

Curtiss­Wright Export

Corp had been selling arms, and had claimed that the U.S. gave unconstitutional

power to the president, as to create such an embargo that heavily restricted the

sales of the company's arms.

The fair labor standard act (1938) Sets a standard minimum wage, overtime pay,

recordkeeping, and youth employment for employees in private businesses and in

Federal, State, and local governments.

Effects of The Great Depression:

Hoovervilles or sometimes called shantytowns were small run down towns built by

people who had been evicted from their homes. Since the government couldn't

provide any assistance to the people, more and more Hoovervilles popped up on

the outskirts of cities throughout the country.

The Bonus Army:

After WWI, veterans were promised payment of $1.25 overseas and $1 per day in

the U.S. However, the government wasn't able to pay due to The Great Depression,

so the veterans protested in Washington D.C.

The Dust Bowl:

The Dust Bowl was a very hard for farmers in the plains of America. There was a

drought and strong winds that made their land unfarmable. Since this started in

1930, it only made conditions in America worse than they already were.

Hope For The Economy:

The Reconstruction Finance Corporation was a government corporation in the US

that started in 1932. It's goal was to provide support whether it be financial or other

types on a state and local government level. It made loans to railroads, banks and

other businesses.

Works Progress Administration:

This was passed as part of the new deal in 1935. It allowed employee millions of

unskilled workers; having them build railroads and other things. As a result, it

helped boost the economy.

Important People of The Great Depression:

­Franklin Delano Roosevelt­32nd President (1933­1945) His

fifth cousin was Teddy Roosevelt and he gave the people hope

when they were scared. During his inaugural address, he said the

famous line, “The only thing we have to fear is fear itself.”

­Herbert Hoover­31st president(1929­1933) Within months of his

presidency, the stock market crashed and the market fell. He

proposed a plan to cut taxes, but before this could happen, congress

made him the scapegoat, blaming him for the cause of the Great

Depression.

­John Maynard Keynes­ Managed the UK’s finances during WWI, but quit

because he didn’t believe in the Treaty of Versailles. Keynes thought the

end of expenditures financed by U.S. international loans for caused the great

depression. Because of this, he made a plan(1933). He thought the UK should hire

the unemployed, and he believed trade barriers needed to be

reduced.

­Charles Dawes­ 30th VP(1925­1929)­ Created the Dawes

Plan(1923)­ Germany would pay back the money from WWI, and

the amount they had to pay back would increase each year.

­Warren Harding­ 29th president (1921­1923) Teapot Dome Scandal(1921­1922)

­Albert Fall­ Secretary of Interior under Warren Harding. In 1924 senate found out

that he was involved/main cause of the teapot dome scandal.

­John W. Davis­ Democrat that ran for president in 1924 but didn't get elected.

Was also an advisor at the Paris Peace Conference(1919). He was an ambassador

to Great Britain (1918­1921)

­Calvin Coolidge­ 30th president 1923­1929 Wanted tax cuts, isolation from other

countries and limited aid to farmers. He was retired by the time of the GD, and felt

that there was nothing he could do to help.

­Alfred E. Smith­ Elected Governor of NY 4x. Ran for president with the support

of Franklin Roosevelt, but never won because he was catholic and irish.

South/West didn’t like that.

­Eleanor Roosevelt­ First lady from (1933­1945) Her

cousin/husband was Franklin Roosevelt. She created the modern

first lady. She pretty much worked politically after she left the white house for the

rest of her life.

­Harry Hopkins­ He was FDR’s closest advisor

­Father Charles Coughlin­ Popular priest who often voiced his opinions of

politics(GD) rather than preaching. Today no one would take him seriously

­Francis Townsend­ Physician who proposed the Townshed Plan. The plan was

for young people together more jobs, and fm or seniors to spend their money.

­Huey P. Long­ nicknamed the kingfish. He was gov of louisiana(1928­1932)and

then was a member of the senate from 1932­1935 assignation.

­Frances Perkins­ Secretary of Labor from 1933­1945

­Mary McLeod Bethune­ Advised FDR on minority affairs. Also,

was the head of Negro Affairs during the Great Depression

­Robert Wagner­ Member of the Senate and drafted many bills

“New Bill” & more

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History.com. (n.d.). Retrieved March 23, 2016, from http://www.history.com/

The White House. (2015). Retrieved March 23, 2016, from

http://www.whitehouse.gov/

United States Department of Labor. (n.d.). Retrieved March 23, 2016, from

http://www.dol.gov/