Thesis : The Roosevelt Administration looked to bring about the recovery of the US economy by creating a number of big government programs aimed at improving the economic and social welfare of the US, and to an extent this was successful, but did not fix the major underlying issues that faced the nation and did not end the Depression.
Problems-
- Industries fail
o Causes mass layoffs
Causes high unemployment
- unemployment, along with irresponsible lending by banks, led to the inability of many to pay back loans
o causes many banks to run out of money, not able to give people their money
people stop depositing in banks and lose all faith in the system
- after WWI farmers began overproducing crops
o large supply and lower demand causes price of farm goods to drop significantly
o many farmers go out of business
- Speculation on the stock market causes market to crash
o Many lose huge sums of money due to stock market crash
Measures Taken-
- major legislation passed aimed at fixing problems causing the depression
- emergency banking act-
o passed 1st day in office
o closed down all banks so they could be examined by federal government for economic stability
o banks deemed able to survive economically (sometimes with help by the federal government by the means of loans) were allowed to reopen, those deemed unstable closed
- Securities exchange commission-
o Aimed to fix problems on wall street
o Placed many government regulations on the stock market, such as not allowing speculation
- Agricultural Adjustment Administration-
o Aimed at fixing the problems in the agricultural sector of the economy
o Gave incentives to farmers who killed off extra live stock and crops in order to even out supply and demand
- National Recovery Act-
o Aimed at regulating socio-economic trends
o Regulated prices for many products and limited the freedom of the market in order to ensure fair trade
- Federal Deposit Insurance Cooperation-
o Aimed at further restoring US confidence in the banking system
o Guaranteed those who deposited into banks $X if the bank failed
Effects-
- Emergency banking act
o Restored faith in the banking system
o Saved many banks that were on the brink of failure
o Caused those who deposited into the banks deemed unable to survive to lose their money, with no refund
- Securities Exchange Commission
o Prevented people from taking advantage of the stock market, which caused the ’29 crash
- Agricultural Adjustment Administration
o Stabilized the market for goods from the farms
o Wasted food that could be used to help those suffering from hunger
o Widely considered immoral
- National recovery act
o Highly criticized because of limitations on free market
o Hurt business
o Eventually deemed unconstitutional
- Federal deposit insurance cooperation
o Provided an insurance policy to those who deposited in banks
o Restored faith in banks
Judgment
- Successful in…
o Restoring confidence in banks
o Stabilizing farming sector
o Highly improving stock marker fairness
o Creating jobs
o Somewhat lowering unemployment
- Failed in…
o Ending recession
o Bringing country together
o Being uncontroversial (many said was unconstitutional, communism, took advantage of tax payers, too confusing)
o Simplicity (accused of having too many rules and regulations)
o Fairness (stocking the supreme court)
- overall judgment
o successful in fixing minor problems and restoring confidence in banking system… but did not accomplish final goal of ending great depression because of radicalness and copiousness of rules, regulations, and government programs
Sunday, February 7, 2010
Sunday, January 31, 2010
FDR & the New Deal
1. Describe how people struggled to survive during the depression.
The many who became unemployed during this time could no longer afford to pay for houseing or food. They battled with poor conditions (cold, poor sanatation) and extream hunger every day and battled to survive.
2. How was what happened to men during the Great Depression different from what happened to women? Children?
Men struggled with unemployment especially because up untill this point men ahd always been expected to work in order to provide for their families, and the fact that they could no longer do this was a concept many men could not face, and they became hobos, wandering about aimlessly. Women did more than ever attempting to keep their families afloat. They canned food and made clothing that could not be bought anymore. Some even went out nd got jobs, though they were payed less than the men were for equal pay. Children suffered because their parents could not provide for them. The poor living conditions and lack of nutrition caused serious health problems for the youts.
3. Describe the causes and effects (on people) because of the Dust Bowl.
Over farming and plowing of farm land in the midwest led to a geography of mostly sand and dust. This, combined with a period of drout and rough sand storms, led to viloent sand storms that forced familys living in this area to abandon their homes and move westward to California.
4. What was the New Deal and its three general goals? (The 3 Rs)
The new deal was a nickname for the FDR administration, based on a quote from a champaign speech in which a "new deal" was promised to the American people. Its goals were economic recovery, relief for the needy, and finincial reform.
5. What did Roosevelt do during the Hundred Days?
He passed fifteen major pieces of legislation into law createing a greater government involvement in the nations economy.
6. Why were Roosevelt's fireside chats significant?
They restored the American people's faith in government and the banks. Many people allowed their saveings to go back to the banks after these "chats".
7. Describe four significant agencies and/or bills that tightened regulation of banking and finance.
Glass-Steagall Act- established the Federal Deposet Insurence Coorperation to protect people's money in the banks.
Federal Secruities Act- Forced all major coorperations to release accurate stock information.
Securities and Exchange Commission- Provided frderal regulation for the stock market.
The 21st amendment- repealed the prohibition
The many who became unemployed during this time could no longer afford to pay for houseing or food. They battled with poor conditions (cold, poor sanatation) and extream hunger every day and battled to survive.
2. How was what happened to men during the Great Depression different from what happened to women? Children?
Men struggled with unemployment especially because up untill this point men ahd always been expected to work in order to provide for their families, and the fact that they could no longer do this was a concept many men could not face, and they became hobos, wandering about aimlessly. Women did more than ever attempting to keep their families afloat. They canned food and made clothing that could not be bought anymore. Some even went out nd got jobs, though they were payed less than the men were for equal pay. Children suffered because their parents could not provide for them. The poor living conditions and lack of nutrition caused serious health problems for the youts.
3. Describe the causes and effects (on people) because of the Dust Bowl.
Over farming and plowing of farm land in the midwest led to a geography of mostly sand and dust. This, combined with a period of drout and rough sand storms, led to viloent sand storms that forced familys living in this area to abandon their homes and move westward to California.
4. What was the New Deal and its three general goals? (The 3 Rs)
The new deal was a nickname for the FDR administration, based on a quote from a champaign speech in which a "new deal" was promised to the American people. Its goals were economic recovery, relief for the needy, and finincial reform.
5. What did Roosevelt do during the Hundred Days?
He passed fifteen major pieces of legislation into law createing a greater government involvement in the nations economy.
6. Why were Roosevelt's fireside chats significant?
They restored the American people's faith in government and the banks. Many people allowed their saveings to go back to the banks after these "chats".
7. Describe four significant agencies and/or bills that tightened regulation of banking and finance.
Glass-Steagall Act- established the Federal Deposet Insurence Coorperation to protect people's money in the banks.
Federal Secruities Act- Forced all major coorperations to release accurate stock information.
Securities and Exchange Commission- Provided frderal regulation for the stock market.
The 21st amendment- repealed the prohibition
Thursday, January 28, 2010
Causes of the Great Depression Outline
To what extent was the Wall Street Crash a cause of the Great Depression of 1929? Support your argument with specific examples.
The Wall Street Crash was the most important cause of the Great Depression of 1929, because of the chain effect it had on other sectors of the economy which all together combined to cause the economic depression.
main point one- Crash caused major domino effect which led to major problems with unemploiment, poverty, and failed banking systems.
- investors lose money
- causes buisnesses to lose profit; lay off workers
- laied off workers spend less money; buisnesses have to cut production
- lack of money among thosealready effected by economic problems cannot pay back lones; banks run out of money
- cannot give people back their money
main point two- boom of investors during this time means wall street crash effects large amount of people directly
- amount of stock owners grew from 4million in 1920 to 20million (1/6 of the American population at the time)in 1929
- 600,000 "speculators" buy stocks on money borrowed from a loan; cannot pay back lone when stocks don't rise as much as expected.
- banks loan $9million to "speculators" without regard to their ability to pay such a loan back
- once market shows sighs of decline 20 million investors all try to sell their stocks at the same time buy only the uber-rich can afford to buy.
main point three- there were other causes, but they were isolated and did not have a similar chain reaction to that of the stock market crash
- overfarming leads to the forclosure of many farms, but this mainly only effected the farming community, which was not as big a portion of the country at this time than it had been in previous generations
- new technologies made some older goods unnecessary, which hurt these industries, once again no chain reaction
- Tarrifs created on forgin goods hurt international trade (ex: 1930 Hawley-Smoot Tarrif
The Wall Street Crash was the most important cause of the Great Depression of 1929, because of the chain effect it had on other sectors of the economy which all together combined to cause the economic depression.
main point one- Crash caused major domino effect which led to major problems with unemploiment, poverty, and failed banking systems.
- investors lose money
- causes buisnesses to lose profit; lay off workers
- laied off workers spend less money; buisnesses have to cut production
- lack of money among thosealready effected by economic problems cannot pay back lones; banks run out of money
- cannot give people back their money
main point two- boom of investors during this time means wall street crash effects large amount of people directly
- amount of stock owners grew from 4million in 1920 to 20million (1/6 of the American population at the time)in 1929
- 600,000 "speculators" buy stocks on money borrowed from a loan; cannot pay back lone when stocks don't rise as much as expected.
- banks loan $9million to "speculators" without regard to their ability to pay such a loan back
- once market shows sighs of decline 20 million investors all try to sell their stocks at the same time buy only the uber-rich can afford to buy.
main point three- there were other causes, but they were isolated and did not have a similar chain reaction to that of the stock market crash
- overfarming leads to the forclosure of many farms, but this mainly only effected the farming community, which was not as big a portion of the country at this time than it had been in previous generations
- new technologies made some older goods unnecessary, which hurt these industries, once again no chain reaction
- Tarrifs created on forgin goods hurt international trade (ex: 1930 Hawley-Smoot Tarrif
Monday, January 25, 2010
Causes & Early Effects of the Great Depression
1. What happened on "Black Tuesday"?
"Stockbrokers were ordered to sell at whatever the price, and the stock market crashed."
2. How did the economic trends of the 1920s in industry, agriculture, and with consumers help cause the Great Depression? (Make sure you include significant details about each area in your answer. It should be at least a paragraph)
Many industrys that had previously been important and booming became no longer important due to the development of new technolegies. These industries could no longer make a profit. During WWI the demand for crops grew tremendously and with this being true many farmers began to grow a supless of crops. The demans dropped after the war, however, and farmers grey more that they could pay for and went into debt. As unemployment rose, inflation grew as well, and people stopped buying goods because of the raise in price.
3. According to your reading, what are the major causes of the Great Depression?
a. dependency on credit
b. uneven distribution of income
c. failure of industries
d. failure of farmers
e. dangerous consumer habits
4. What was Hoover’s philosophy of government?
He believed the government's chief purpose was to settle disputer between competeing partys, but was also a strong supporter of individualism.
5. What was Hoover’s initial reaction to the stock market crash of 1929?
He said it was part of the natural economic cycle and that everybody should stay calm.
6. What was the nation’s economic situation in 1930?
The depression was at an all time low.
7. How did voters in 1930 respond to this situation?
Many incumbant republicans were voted out of office.
8. What did Hoover do about the economic situation?
At first he reflected his beliefs in small governmet intervention by only takeing minor measures , such as establishing the National Credit Corperation, which loaned money to smaller banks. Eventually, however, the public demanded a more activest approach by the federal government, and he the economy into the government's hands by signing into law the federal home loan bank act and establishing the reconstruction finance committie.
9. How did the economy respond to his efforts?
Buisness failures continued.
"Stockbrokers were ordered to sell at whatever the price, and the stock market crashed."
2. How did the economic trends of the 1920s in industry, agriculture, and with consumers help cause the Great Depression? (Make sure you include significant details about each area in your answer. It should be at least a paragraph)
Many industrys that had previously been important and booming became no longer important due to the development of new technolegies. These industries could no longer make a profit. During WWI the demand for crops grew tremendously and with this being true many farmers began to grow a supless of crops. The demans dropped after the war, however, and farmers grey more that they could pay for and went into debt. As unemployment rose, inflation grew as well, and people stopped buying goods because of the raise in price.
3. According to your reading, what are the major causes of the Great Depression?
a. dependency on credit
b. uneven distribution of income
c. failure of industries
d. failure of farmers
e. dangerous consumer habits
4. What was Hoover’s philosophy of government?
He believed the government's chief purpose was to settle disputer between competeing partys, but was also a strong supporter of individualism.
5. What was Hoover’s initial reaction to the stock market crash of 1929?
He said it was part of the natural economic cycle and that everybody should stay calm.
6. What was the nation’s economic situation in 1930?
The depression was at an all time low.
7. How did voters in 1930 respond to this situation?
Many incumbant republicans were voted out of office.
8. What did Hoover do about the economic situation?
At first he reflected his beliefs in small governmet intervention by only takeing minor measures , such as establishing the National Credit Corperation, which loaned money to smaller banks. Eventually, however, the public demanded a more activest approach by the federal government, and he the economy into the government's hands by signing into law the federal home loan bank act and establishing the reconstruction finance committie.
9. How did the economy respond to his efforts?
Buisness failures continued.
Thursday, January 7, 2010
The Twenties Woman
1. Note two ways women's fashions changed.
Women liked to ware more revealing clothes during this time than had been generally accepted up to that point. They also went for more boyish looking hair styles.
2. Note two ways women's social behavior changed.
Women began to act in ways that had only been accepted for men to act like up untill that point. Two examples of pratcices that were pratciced by women with these new values were smokeing/drinking and casual dateing.
3. Note two words that describe the attitude reflected by these changes.
Flapper; Double Standard
4. Note one way women's work opportunities improved.
The booming industrial economy opened up new jobs that woman could preform.
5. Note two ways women's home and family life improved.
Marriges were now considered equal partnerships and were based on love.
6. Note three negative effects that accompanied women's changing roles in the 1920s.
1)Women struggled to balence their family and work lives.
2)Women were never payed as much as men and were not given equal opprunity to rise in status in their jobs.
3) Women were held to a social double-standard under which they were not expected to express themselfs as much as men could.
Women liked to ware more revealing clothes during this time than had been generally accepted up to that point. They also went for more boyish looking hair styles.
2. Note two ways women's social behavior changed.
Women began to act in ways that had only been accepted for men to act like up untill that point. Two examples of pratcices that were pratciced by women with these new values were smokeing/drinking and casual dateing.
3. Note two words that describe the attitude reflected by these changes.
Flapper; Double Standard
4. Note one way women's work opportunities improved.
The booming industrial economy opened up new jobs that woman could preform.
5. Note two ways women's home and family life improved.
Marriges were now considered equal partnerships and were based on love.
6. Note three negative effects that accompanied women's changing roles in the 1920s.
1)Women struggled to balence their family and work lives.
2)Women were never payed as much as men and were not given equal opprunity to rise in status in their jobs.
3) Women were held to a social double-standard under which they were not expected to express themselfs as much as men could.
Wednesday, January 6, 2010
Prohibition and the Scopes Trial
Do you think the passage of the Volstead Act and the ruling in the Scopes trial represented genuine triumphs for traditional values?
The Scopes Trial and the Volstead act were both attempts to reform the American way of life to a more traditional style. The Scopes trial was successful in accomplishing this taks, however, the Volstead act was not, and, in fact had results of quite the oppisite.
The Scopes trial, which ensured the fact that it was illegal to teach evolution in a classroom, indeed brought back more traditional values to the schooling system. It increased upon the importance of the Bible and religion in the daily lives of the American citizen. Religion's importance was not being stressed as much as it had been in past times, such as the two Great Awakenings. This ruling, however, insured that at least in the classroom the Bible's importance would be maintained. This ruleing was likely considered a victory for Americans with more traditional values, and for the time being, proved to be so.
The Volstead act, which made alchohol illegal, was extreamily unsuccessful in bringing back traditional values to the daily life of the American citizen, and actually created more moral problems than there were when such beverages were legal. Before the illegalization of alchohol pro-prohibitionists argues that such beverages caused problems in society such as: domestic abuse, poverty, and crime. Once the act was passed, however, those who still wanted to drink badly enough found ways to do so, but they were just behind the collective backs of law enforcement, and much more dangerous. Many created their own alchohol and distributed it illegalily, createing a general lack of respect for the law in the country at the time. Also, people often didn't know what they were doing when they created such beverages, and accidently hurt themselfs in the process. Another problem that the prihibition caused is a major rise in organized crime. "Gansters," as they were called, found that selling alchohol was a very successful way to make money for their gangs, which enabled them to become more powerful, and more viloent. The failure of the prohibition led to it being the first Constitutional Amendment in United States history to be repealed, and it still is the only such case today.
The Scopes Trial and the Volstead act were both attempts to reform the American way of life to a more traditional style. The Scopes trial was successful in accomplishing this taks, however, the Volstead act was not, and, in fact had results of quite the oppisite.
The Scopes trial, which ensured the fact that it was illegal to teach evolution in a classroom, indeed brought back more traditional values to the schooling system. It increased upon the importance of the Bible and religion in the daily lives of the American citizen. Religion's importance was not being stressed as much as it had been in past times, such as the two Great Awakenings. This ruling, however, insured that at least in the classroom the Bible's importance would be maintained. This ruleing was likely considered a victory for Americans with more traditional values, and for the time being, proved to be so.
The Volstead act, which made alchohol illegal, was extreamily unsuccessful in bringing back traditional values to the daily life of the American citizen, and actually created more moral problems than there were when such beverages were legal. Before the illegalization of alchohol pro-prohibitionists argues that such beverages caused problems in society such as: domestic abuse, poverty, and crime. Once the act was passed, however, those who still wanted to drink badly enough found ways to do so, but they were just behind the collective backs of law enforcement, and much more dangerous. Many created their own alchohol and distributed it illegalily, createing a general lack of respect for the law in the country at the time. Also, people often didn't know what they were doing when they created such beverages, and accidently hurt themselfs in the process. Another problem that the prihibition caused is a major rise in organized crime. "Gansters," as they were called, found that selling alchohol was a very successful way to make money for their gangs, which enabled them to become more powerful, and more viloent. The failure of the prohibition led to it being the first Constitutional Amendment in United States history to be repealed, and it still is the only such case today.
Tuesday, January 5, 2010
Americans Struggle with Postwar Issues
After World War I, many Americans feared that Communists would take over the country.
1. How did the Justice Department under A. Mitchell Palmer respond to this fear?
Palmer led a series of raids in an attempt to capture all communists, socialists, and anarchists in the United States.
2. Why did Palmer eventually lose his standing with the American public?
The public saw his actions as pointless and aimed at increasing his popularity with voters and soon lost faith and intrest in him.
3. How did the Ku Klux Klan respond to this fear?
They responded by setting goals of driveing Jews, Cathloics, and forgin born people out of the country and keeping black people in their place. They said that this would help preserve American values.
4. Why did the Klan eventually lose popularity and membership?
They were a viloent group, which was a turn off to many who were not as radical as them.
5. Briefly describe how Sacco and Vanzetti became victims of the Red Scare.
They were tried and convicted of murders they did not commit because of unfair assumptions of them because of their Italian heritages and anarchist values.
1. How did the Justice Department under A. Mitchell Palmer respond to this fear?
Palmer led a series of raids in an attempt to capture all communists, socialists, and anarchists in the United States.
2. Why did Palmer eventually lose his standing with the American public?
The public saw his actions as pointless and aimed at increasing his popularity with voters and soon lost faith and intrest in him.
3. How did the Ku Klux Klan respond to this fear?
They responded by setting goals of driveing Jews, Cathloics, and forgin born people out of the country and keeping black people in their place. They said that this would help preserve American values.
4. Why did the Klan eventually lose popularity and membership?
They were a viloent group, which was a turn off to many who were not as radical as them.
5. Briefly describe how Sacco and Vanzetti became victims of the Red Scare.
They were tried and convicted of murders they did not commit because of unfair assumptions of them because of their Italian heritages and anarchist values.
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