Dust Bowl 1930
In October 1929, the stock market's over-inflated values collapsed and the Great Depression began. Its causes were complex and its consequences were enormous. In a few short years, the 2 percent unemployment rate of the 1920s had become the 25 percent rate of 1932. The nation's political institutions were not equipped to respond. The task overwhelmed local and private relief efforts. President Herbert Hoover's tentative program of voluntary cooperation, big-business loans, and limited public works was activist by old standards but inadequate to the challenge. American tariffs and war-debt policy aggravated international economic problems and thereby added to domestic woes. Although the suffering of Americans, especially African Americans and Hispanics, was great, most citizens clung to traditional values and resisted radical solutions. With veterans marching, farmers protesting, and millions not working, Franklin Delano Roosevelt won the presidency.
Brinkley, Alan (2007). American history: A survey. New York, New York: McGraw Hill.
The Great Depression and the New Deal: 1929-1940
1929 Stock market crash.
1929?32 Herbert Hoover's presidency.
1930 Smoot-Hawley tariff enacted.
1932 Bonus Army clashes with federal troops. FDR defeats Hoover for president.
1932?45 Franklin Delano Roosevelt's presidency.
1932?39 Dust storms.
1933 Unemployment nearly reaches 25 percent. Agricultural Adjustment Act (AAA) passed. Tennessee Valley Authority (TVA) created. National Industrial Recovery Act (NIRA) passed. United States abandons gold standard.
1934 American Liberty League founded. Upton Sinclair campaigns for governor of California. Widespread labor unrest. Father Coughlin founds the National Union for Social Justice. Huey Long launches the Share Our Wealth movement.
1935 Huey Long assassinated. Schechter Poultry v. the U.S. Creation of the WPA. Passage of the Wagner Act. Passage of the Social Security Act.
Rural Electrification Administration created. CIO founded. Appearance of Charlie Chaplin?s Modern Times.
1936 FDR wins reelection in a landslide. CIO launches sit-down strike at GM.
1937 FDR proposes Court-packing scheme. Supreme Court upholds the Wagner Act. Renewed economic slump.
1938 John Steinbeck publishes The Grapes of Wrath. Antilynching bill fails in Congress. Fair Labor Standards Act passed. Republicans sweep midterm elections.
Economic Transformation: Following the prosperity of the 1922-1929 period, the economic downturn that followed the stock market crash of 1929 shocked many Americans. The prolonged depression that followed what might have been a normal cyclical downturn exposed a series of structural weaknesses in the American economy, including the precarious banking structure, the unequal distribution of wealth, and the weakness of the farm sector and other declining industries. The depth of the Great Depression would eventually force the federal government to take on new regulatory functions and greater responsibility for maintaining prosperity, although these would take a number of years to emerge.
Politics and Citizenship: While President Hoover is often criticized for his response to the Depression, his efforts to combat the deep economic downturn represented the most ambitious peacetime expansion of the powers of the federal government to that point. Hoover created a program of public works-federal aid and loans to states, localities, and businesses-and other efforts to stimulate the economy. Hoover, however, refused to extend federal power and influence beyond certain strictly defined limits, fearing that too heavy of an extension of federal power would sap individual initiative and lead to the regimentation and bureaucratization of American life. He ended his term in office largely discredited by the American people, although later historians would come to admire his restraint and moderation.
Culture: The Great Depression had a profound effect on many aspects of American culture. Surprisingly, it initially did relatively little to erode the "success ethic" of the 1920s, which held that Americans could prosper on the basis of their own efforts provided they simply worked hard enough. The deep-rooted American belief in individual responsibility made many Americans ashamed to accept relief. Artists and intellectuals responded to the Depression by offering critiques of American society that found a more willing audience than they likely would have during times of greater prosperity. The American left enjoyed unprecedented popularity, although never enough to seriously challenge the nation's fundamental commitment to capitalism and democracy.
Globalization: The Great Depression also had an important impact on America's relationship with the rest of the world. Hoover believed that the Depression was less the result of structural weaknesses in the American economy than the result of international factors. By protecting American markets through high tariffs and restoring public confidence in the economy, Hoover believed that he could best promote economic recovery. By cutting America off from global trade, however, Hoover's policies contributed to the growth of tariff barriers and economic nationalism that would have powerful political ramifications during the 1930s.
George, J. & Brown, J. (2007). AP achiever: Advanced placement american history preparation. McGraw Hill.
The stock market crash of October 1929 brought the economic prosperity of the 1920s to a symbolic end. For the next ten years, the United States was mired in a deep economic depression. By 1933, unemployment had soared to 25 percent, up from 3.2 percent in 1929. Industrial production declined by 50 percent, international trade plunged 30 percent, and investment fell 98 percent.Causes of the Great Depression included: insufficient purchasing power among the middle class and the working class to sustain high levels of production; falling crop and commodity prices prior to the Depression; the stock market's dependence on borrowed money; and wrongheaded government policies, including high tariffs that reduced international trade and contracted the money supply. This section examines why the seemingly boundless prosperity of the 1920s ended so suddenly and why the Depression lasted as long as it did. It assesses the human toll and the policies adopted to combat the crisis of the Great Depression. It devotes particular attention to the impact on African Americans, the elderly, Mexican Americans, labor, and women. I
The Great Depression and American Culture
The Great Depression challenged certain basic precepts of American culture, especially the faith in individual self-help, business, the inevitability of progress, and limited government. The Depression encouraged a search for the real America. There was a new interest in ?the people,? in regional cultures, and in folk traditions. The movies played a crucial role in sustaining American ideals in a time of social upheaval across Europe. Films projected images of a world in which financial success was possible and of a society in which class barriers could be overcome.