Depressionx_New_Deal_outlinex

Depressionx_New_Deal_outlinex - Lecture Outline The Great...

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Lecture Outline— The Great Depression and the New Deal Black Thursday—The Crash on Wall Street Causes of the Collapse: o The Consumer Goods Revolution of the 20s o Overproduction, market saturation, and the relative decline of worker’s wages o Buying on credit o Speculation in the Stock market by businesses, banks and individuals Effects of the Crash o Bankrupcy, businesses collapse, home and farm foreclosures o Drop in the Gross National Product o Massive Unemployment—one in four persons Hoover’s Response o Hoover’s initial Resistance to direct relief, emphasis on “Voluntary Cooperation” o The Depression deepens—Hoover initiates cautious government intervention and aid; The Reconstruction Finance Corporation The Home Loan Bank Act The Federal Farm Board The Emergency Relief and Construction Act o The Bonus March o Hoover takes the blame for the Great Depression Franklin Delano Roosevelt and the 1932 Election o Roosevelt’s background—from a wealthy patrician family
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Depressionx_New_Deal_outlinex - Lecture Outline The Great...

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