1. History 17C The American People, World War I to the Present

2. The Great Depression and the “First New Deal”

5. Herbert Hoover entered presidency in early 1929 with stellar reputation and high expectations Themes

6. Before year was out, nation had been plunged into economic crisis that would destroy Hoover’s presidency and set stage for major political upheaval Themes

7. The Great Depression was rooted in the maldistribution of wealth in the United States

8. A very small number of people had too much money

9. ... and a very large number had too little

10. The people with too little money did not have sufficient purchasing power to buy all the goods and services that were being produced

11. The wealthy, in effect, lending to the less well-off Credit Buying in the 1920s

12. Wall Street in the 1920s

13. October 1929

14. The Stock Market Crash left private investors unable, or unwilling, to keep investing in the US economy, resulting in massive business failures and job losses

15. Devastating impact of Great Depression

20. Worker and farmer militancy

22. President Herbert Hoover worked tirelessly to address crisis, but was hampered by own preference for limited government and voluntary measures by private sector

23. 1932—Hoover created Reconstruction Finance Corporation (RFC), which extended federal govt loans to private corporations; too little too late

24. “Hooverville”

25. “Hoover Wagon”

26. “Hoover Blanket”

27. The Bonus Army, 1932

29. “Brother, Can You Spare a Dime?” 1932

30. They used to tell me I was building a dream And so I followed the mob When there was earth to plow or guns to bear I was always there right on the job They used to tell me I was building a dream With peace and glory ahead Why should I be standing in line Just waiting for bread?

31. “Brother, Can You Spare a Dime?” 1932 They used to tell me I was building a dream And so I followed the mob When there was earth to plow or guns to bear I was always there right on the job They used to tell me I was building a dream With peace and glory ahead Why should I be standing in line Just waiting for bread?

32. “Brother, Can You Spare a Dime?” 1932 Once I built a railroad, made it run Made it race against time Once I built a railroad, now it’s done Brother, can you spare a dime? Once I built a tower to the sun Brick and rivet and lime Once I built a tower, now it’s done Brother, can you spare a dime?

33. “Brother, Can You Spare a Dime?” 1932 Once I built a railroad, made it run Made it race against time Once I built a railroad, now it’s done Brother, can you spare a dime? Once I built a tower to the sun Brick and rivet and lime Once I built a tower, now it’s done Brother, can you spare a dime?

34. “Brother, Can You Spare a Dime?” 1932 Once in khaki suits, gee we looked swell Full of that Yankee Doodle Dum Half a million boots went slogging through hell And I was the kid with the drum Say, don’t you remember, they called me Al It was Al all the time Say, don’t you remember, I’m your pal Buddy, can you spare a dime?

35. “Brother, Can You Spare a Dime?” 1932 Once in khaki suits, gee we looked swell Full of that Yankee Doodle Dum Half a million boots went slogging through hell And I was the kid with the drum Say, don’t you remember, they called me Al It was Al all the time Say, don’t you remember, I’m your pal Buddy, can you spare a dime?

37. Spring-Summer 1932— groups of WWI veterans began marching to Washington, DC, to demand early payment of military bonus The Bonus Army, 1932

41. <—Anacostia

43. General Douglas MacArthur and his aide, Major Dwight D. Eisenhower

45. Hoover’s mishandling of the Bonus March helped to ensure his defeat to Franklin D. Roosevelt in the 1932 presidential election HooverRoosevelt

46. Franklin D. Roosevelt, 1933-1945

47. FDR Scion of a wealthy Dutch-American family

48. FDR Idolized Theodore Roosevelt, his distant relative

49. New York State Assemblyman, 1881-1884 Assistant Secretary of the Navy, 1997-1898 Governor of New York, 1899-1901 Vice President, 1901 President, 1901-1909 TR

50. New York State Senator, 1911-1913 Assistant Secretary of the Navy, 1913-1920 Democratic Candidate for Vice President, 1920 Governor of New York, 1929-1933 President, 1933-1945 FDR

51. FDR & Polio

52. Eleanor Roosevelt

53. Hoover and FDR riding together to FDR’s inaugural ceremony, March 1933

54. “First New Deal,” 1933 “Second New Deal,” 1935

55. Main Goals of “First New Deal” Dispensing Relief Creating Jobs Stabilizing the Economy

56. Dispensing Relief Federal Emergency Relief Agency (FERA)

57. Public Works Administration (PWA Tennessee Valley Authority (TVA) Civilian Conservation Corps (CCC) Creating Jobs

58. National Recovery Administration (NRA) Stabilizing the Economy

59. NRA administrator Hugh S. Johnson

60. NRA Parade in New York City, 1933

61. Agricultural Adjustment Act (AAA) Stabilizing the Economy

63. In South, sharecroppers and tenant farmers (black and white) saw few AAA benefits, which mostly went to white landlords

65. John Maynard Keynes and “Keynesianism” A road not taken:

68. “That’s All, Folks!”