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US History II - The student will demonstrate knowledge of the social, economic, and technological changes of the early twentieth century by d) identifying the causes of the Great Depression, its impact on Americans, and the major features of Franklin D. Roosevelt’s New Deal. VA USH II-ESS Page 153-154 What were the causes of the Great Depression? How were the lives of Americans affected by the Great Depression? What were the major features of the New Deal? VA USH II-ESS Page 153-154 Make connections between the past and the present. (USII.1b) Sequence events in United States history. (USII.1c) Interpret ideas and events from different historical perspectives. (USII.1d) VA USH II-ESS Page 153-154 The optimism of the 1920s concealed problems in the American economic system and attitudes about the role of government in controlling the economy. VA USH II-ESS Page 153-154 The Great Depression had a widespread and severe impact on American life. VA USH II-ESS Page 153-154 Franklin Roosevelt’s New Deal used government programs to help the nation recover from the Depression. VA USH II-ESS Page 153-154 People overspeculated on stocks, using borrowed money that they could not repay when stock prices crashed. The Federal Reserve failed to prevent the collapse of the banking system. The Federal Reserve failed to monitor banks VA USH II-ESS Page 153-154 VA USH II-ESS Page 153-154 Overborrowing overproduction in factories and farms uneven distribution of wealth VA USH II-ESS Page 153-154 High protective tariffs that produced retaliatory tariffs in other countries, strangling world trade Tariff Act of 1930, popularly called the Hawley-Smoot Act VA USH II-ESS Page 153-154 Business was booming, but investments were made with borrowed money (overspeculation). There was excessive expansion of credit. Business failures led to bankruptcies. VA USH II-ESS Page 153-154 Bank deposits were invested in the market. When the market collapsed, the banks ran out of money. VA USH II-ESS Page 153-154 Clients panicked Tried to withdraw their money, but there was nothing to give them. There were no new investments So banks had no way to give money back to people. The Great Depression caused widespread hardships across the entire planet! VA USH II-ESS Page 153-154 A large number of banks and other businesses failed. One-fourth of workers were without jobs. Large numbers of people were hungry and homeless. Farmers’ incomes fell to VERY low levels VA USH II-ESS Page 153-154 Unemployment and homelessness Collapse of the financial system (bank closings) Decline in demand for goods Political unrest (growing anger of labor unions) Farm foreclosures and migration VA USH II-ESS Page 153-154 Social Security Federal work programs Environmental improvement programs Farm assistance programs Increased rights for labor VA USH II-ESS Page 153-154 The New Deal permanently altered the role of American government in the economy. It changes in people’s attitudes toward government’s responsibilities. Organized labor acquired new rights, as the New Deal set in place legislation that reshaped modern American capitalism. VA USH II-ESS Page 153-154 This program changed the role of the government to a more active participant in solving problems. Roosevelt rallied a frightened nation in which one in four workers was unemployed. (“We have nothing to fear, but fear itself.”) VA USH II-ESS Page 153-154 Relief measures provided direct payment to people for immediate help (Works Progress Administration—WPA). Recovery programs were designed to bring the nation out of the depression over time (Agricultural Adjustment Administration—AAA). VA USH II-ESS Page 153-154 Influenced the public’s belief in the responsibility of government to deliver public services The government should intervene: In the economy Act in ways that promote the general welfare. VA USH II-ESS Page 153-154 You are creating a new 1930’s program that will help the USA get out of the Great Depression. Here are the parts you must have: 1. Title of the program 2. What the program will do (example: make new roads) 3. Who the program will help 4. How many people the program will help.
