HST 110 Lecture Notes March 17th What should you know? FDR?s liberalism, fireside chats, Tennessee valley authority, national recovery act, agricultural adjustment act, dust bowl What caused the Great Depression? How did Hoover combat the great depression How did the New Deal seek to control prices? (NRA, AAA, TVA) The Great Depression Stock market speculation Misdistribution of wealth Rural depression Stagnating demand for consumer goods Stock market crash of 1929 The Great Depression: Hoover?s Response Initial effort 1930 Hawley?Smoot Tariff Act 1932: more vigorous action Mistakes by the Federal Reserve The Great Depression Repercussions of crash Scope of devastation Persistence of downward slide Americans and the Depression Material hardship Patterns of popular response Reversal of urbanization Collapse of faith in big business Personal resignation, self blame, suicide Stirrings of protest (Bonus Army) The Great Depression: A New Response Franklin Delano Roosevelt (FDR): 1932 Inaugural Address FDR gravitation toward new reform movement of ?liberalism? Gov should regulate 1920s: divided Democratic Party Agrarians favored regulation in social and economy Urbanites opposed intervention in social issues (undecided on intervention in economy) First New Deal Initial approach Fireside chats Financial program Initiatves 1933 bank holiday (emergency banking act) 1933 Economy Act 1933 2nd Glass Steagall Act 1933 Securities Act 1934 Security Exchange Act Relief and jobs programs Initial Initiatives: Federal emergency relief administration Civilian conservation corps Civil works administration Public Works Admin. Tennessee valley authority Aims First New Deal Continued? National Recovery Administration (NRA) Dust Bowl Housing Program Further Initiatives Agricultural Program: Agricultural Adjustment Act (AAA) Soil conservation Service (SCS) ? 1935
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