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Stock Market Crash of 1929-
Though the U.S. economy had gone into depression six months earlier, the Great Depression was said to have begun with a catastrophic collapse of the stock market prices on the New York Stock exchange in October 1929. During the next three years stock prices in the United States continued to fall, until by late 1932 they had dropped to only about 20% of their value in 1929.
Though the U.S. economy had gone into depression six months earlier, the Great Depression was said to have begun with a catastrophic collapse of the stock market prices on the New York Stock exchange in October 1929. During the next three years stock prices in the United States continued to fall, until by late 1932 they had dropped to only about 20% of their value in 1929.
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Politics-
President Herbert Hoover resisted calls for government intervention on behalf of individuals. He constantly discussed his belief that if left alone the economy would correct itself. He also argued that direct government assistance to individuals would weaken the American people. Hoover also believed that during hard times the government should adopt stern measures, meaning that the government should cut spending even further. Forced by Congress to step in, Hoover did so reluctantly, concerned about both the federal budget, and violating his own moral principles. Hoover's efforts consisted of spending to stabilize the business community, believing that returning prosperity would eventually influence the poor majority, yet the poor majority proved unwilling to wait. Hoover was easily defeated in the presidential election of 1932 by Democrat Franklin D. Roosevelt. Under Roosevelt’s presidency he promised that the government would act determinedly to end the Depression. Once in office, FDR said yes to almost every plan that his advisers suggested. Then the Congress said yes to almost every program proposed by FDR. In the first few months of his presidency, Congress passed tons of new plans at the president's request. Historians say these efforts as either measures for "relief”, “recovery" or, "reform." FDR also started the New Deal.
http://www.fdrheritage.org/new_deal.htm
President Herbert Hoover resisted calls for government intervention on behalf of individuals. He constantly discussed his belief that if left alone the economy would correct itself. He also argued that direct government assistance to individuals would weaken the American people. Hoover also believed that during hard times the government should adopt stern measures, meaning that the government should cut spending even further. Forced by Congress to step in, Hoover did so reluctantly, concerned about both the federal budget, and violating his own moral principles. Hoover's efforts consisted of spending to stabilize the business community, believing that returning prosperity would eventually influence the poor majority, yet the poor majority proved unwilling to wait. Hoover was easily defeated in the presidential election of 1932 by Democrat Franklin D. Roosevelt. Under Roosevelt’s presidency he promised that the government would act determinedly to end the Depression. Once in office, FDR said yes to almost every plan that his advisers suggested. Then the Congress said yes to almost every program proposed by FDR. In the first few months of his presidency, Congress passed tons of new plans at the president's request. Historians say these efforts as either measures for "relief”, “recovery" or, "reform." FDR also started the New Deal.
http://www.fdrheritage.org/new_deal.htm
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New Deal's Recovery Programs-
The main objectives of the New deal were the 3 R's: Relief, Recovery, and Reform. Relief for the unemployed and poor; Recovery of the economy to normal levels; and Reform of the financial system to prevent another depression from happening. It was said that Federal relief programs provided massive amounts of aide to all. That the WPA would develop a nondiscriminatory policy. However, even with the New Deal African American workers were still being pushed out of the way for jobs because many Americans were in favor of White workers. The New Deal actually ended up hurting many African Americans.
Federal Housing Agency stopped blacks from moving into white neighborhoods. The AAA pushed many African Americans off their farms because it help the White landowners. Social Security left out blacks because it was only those who worked and paid into the tax system would benefit from it.
The main objectives of the New deal were the 3 R's: Relief, Recovery, and Reform. Relief for the unemployed and poor; Recovery of the economy to normal levels; and Reform of the financial system to prevent another depression from happening. It was said that Federal relief programs provided massive amounts of aide to all. That the WPA would develop a nondiscriminatory policy. However, even with the New Deal African American workers were still being pushed out of the way for jobs because many Americans were in favor of White workers. The New Deal actually ended up hurting many African Americans.
Federal Housing Agency stopped blacks from moving into white neighborhoods. The AAA pushed many African Americans off their farms because it help the White landowners. Social Security left out blacks because it was only those who worked and paid into the tax system would benefit from it.
Additional information can be found:
http://www.loc.gov/exhibits/african/afam012.html
http://memory.loc.gov/ammem/aaohtml/exhibit/aopart8.html
http://lcweb2.loc.gov/ammem/aaohtml/aopart8.html
http://www.loc.gov/teachers/classroommaterials/presentationsandactivities/presentations/timeline/depwwii/race/
http://americanhistory.si.edu/brown/history/3-organized/naacp.html
http://www.loc.gov/exhibits/african/afam012.html
http://memory.loc.gov/ammem/aaohtml/exhibit/aopart8.html
http://lcweb2.loc.gov/ammem/aaohtml/aopart8.html
http://www.loc.gov/teachers/classroommaterials/presentationsandactivities/presentations/timeline/depwwii/race/
http://americanhistory.si.edu/brown/history/3-organized/naacp.html