2.  Great Depression begins in 1929  At first, Hoover ignores or underestimates depression: ◦ "While the crash only took place six months ago, I am convinced we have now passed the worst and with continued unity of effort we shall rapidly recover. " - President Hoover, May 1, 1930 ◦ “Gentleman, you have come sixty days too late. The depression is over." - Herbert Hoover, responding to a delegation requesting a public works program to help speed the recovery, June 1930

3.  Hoover also tries to keep government out of the economy ◦ says market will naturally rebound ◦ Relies on private volunteerism and charity  Later he gets government involved ◦ Hawley-Smoot Tariff ◦ Programs to increase government loans to people and businesses ◦ Raises income taxes (largest peacetime raise in history) ◦ Mostly, however, these programs are too little, too late ◦ Unemployment rate is 25 percent by 1932

4.  Herbert Hoover v. Franklin Delano Roosevelt  Who will win?  So… FDR wins easily (57-40 percent)…  This is actually first election in 56 years where Democrat wins majority of the popular vote.

6.  Teddy Roosevelt was his 5 th cousin  Married Eleanor Roosevelt, who was Teddy’s niece (they were 5 th cousins, once removed)  Contracted polio in 1921, which resulted in him being paralyzed from the waist down… but he tried to hide it

7.  Started March of Dimes in 1938… originally to fight polio, but now with vaccine invented by Jonas Salk, charity focuses on improving health of babies  Would be elected president a total of 4 times, and died in office in 1945  22 nd amendment ratified in 1951, which set two- term limit for U.S. Presidents

8.  Roosevelt needed a way to fix the nation. He came up with the following things…  The New Deal = Roosevelt’s policies/plan for ending the Great Depression  The First Hundred Days = Just over three months after FDR took office; lots and lots of new government programs put into place ◦ Like one big trial and error session!

9.  Relief, Recovery and Reform  1. Relief ◦ Short-term fixes to stop the “bleeding” of the economy ◦ Examples = creating jobs, giving money directly to people The economy, dead Relief, help me up

10.  2. Recovery ◦ Pumping money into economy to get it up and running again ◦ Examples = Loans to businesses, tax credits which allow people to spend more Recovery, get back at it

11.  3. Reform ◦ Long-term changes to prevent economy from collapsing again ◦ Examples = New laws, new regulations for businesses Reform, can’t happen again

12. Relief, help me up Relief, Recovery, Reform The economy, dead Recovery, get back at it Reform, can’t happen again