1. The Great Depression and the New Deal Pgs. 313-318

2. The Good Times End The 1920s was a period of great economic growth in the United States. President Herbert Hoover hoped these good times would last forever. He said in 1928, “We in America today are nearer to the final triumph over poverty than ever before in the history of any land.”

3. The Stock Market Crash Black Tuesday October 29, 1929 Prices on the stock market fell sharply Many lost everything they owned This was the beginning of the Great Depression.

4. The Great Depression Businesses do not grow; many failed Loss of jobs (1 in 4 lost jobs) Banks failed Poverty and hardship Lost homes Hunger Tramps beg for handouts Bread lines Soup kitchens Public shelters Living on the street Shack towns (Hoovervilles) Many blamed the President for the Depression

5. Life in 1932 By the end of Hoover’s first term, American’s were placing blame for the Depression on the President. President Hoover encouraged local governments to hire more people and asked businesses not to cut wages. He refused at first to use the federal government to help people directly.

6. Franklin Roosevelt Served as New York Governor Assistant Secretary for the Navy Vice President candidate in 1920 In 1932 the American people voted Hoover out of office. Roosevelt won 42 of the 48 states and became President of the U.S.

7. Ending the Depression Roosevelt believed that to end the Depression the federal government had to take bold new action. He gave people hope that everything would be all right – that the government would do something to help.

8. Inauguration Day “The only thing we have to fear is fear itself.” During the first 100 days of his presidency, more laws were passed than at any other time since the founding of the nation.

9. The New Deal The goal of the New Deal was to get people back to work. Hired workers to take care of National Parks – planting trees Build roads, airports, schools, libraries, and post offices

10. New Deal Unemployment stayed high – but it didn’t get worse Minimum wage Social Security Hydroelectric dams – TVA