Cornell Note QuestionsDate:

Cornell Notes: The Government Response to the Great Depression

Herbert Hoover and

Franklin Roosevelt & the New Deal

Introduction:

The two presidents during the Great Depression, ______and ______had varying attitudes about the economy and what could be done.

I. Herbert Hoover’s Response to the Great Depression:

A. Hoover’s Philosophy – Herbert Hoover was president when the Great Depression begins with the ______in ______. Hoover does little, especially initially, to help those hurt by the Great Depression. His philosophy is that government should not be part of people’s lives – that people would be limited if the government did too much for them.

B. Hoover’s Actions:

1. Called for a series of conferences to talk about the problem.

2. Increased public works programs. ______are government financed building projects. The main point of public works are to give people jobs, but the public works provided by Hoover were not on a large enough scale to really help.

3. Creates agencies to provide assistance:

a. ______–money for banks to continue to operate, but too little was done

b. ______– loans to railroads, agriculture and banks, but not enough were given out

c. Relief – money that went directly to impoverished families, but by 1932 the economy was too deep into the Depression for this to help.

C. Hoover is viewed as uncaring:

1. ______– in the winter of 1931-1932, groups of people marched to government buildings to ask for help. They were largely ignored.

2. ______–

  • Veterans of WWI had been promised a $1000 bonus to be paid in 1945. Due to economic problems, they asked for the bonus to be paid early.
  • To support being paid early, 15,000 men marched on Washington, D.C.
  • After this request is denied, many stay in Washington, D.C., living in abandoned buildings.
  • President Hoover ordered that the buildings be clear of the veterans and violence erupted.
  • Hoover was seen as being unfeeling to the suffering of the American people.

**Hoover initially did not grasp the extent of the Great Depression, and once he did move to help, his actions can be summarized as “too little, too late.” **

II. The Presidency of Franklin D. Roosevelt:

During the election of 1932, Democrat ______easily defeated Republican Herbert Hoover. Roosevelt’s campaign had expressed the idea to “Try Something” and Americans wanted a leader who would do precisely that.

A. The ______Days

a. Although elected in 1932, Roosevelt does not take office untilMarch 1933. On the day of his ______(the day he took the oath of office) he said “…the only thing we have to fear is fear itself ….”

b. On his first night in office, Roosevelt declares a national ______holiday so no more banks would close. He requires that the government inspect each bank to make sure the banks are safe. People’s faith and confidence in banks are restored and the banking crisis ends.

c. ______- Radio talks where Roosevelt addressed that nation, telling American what he is doing. The fireside chats begin to restore American confidence in the government; they feel as though someone is actually doing something to help them.

d. Creates theNew Deal – Roosevelt’s plan for ending the Great Depression.

B. The ______

Roosevelt’s plan (1933) for ending the Great Depression. It creates many agencies and programs to address specific needs in the economy. In 1935, Roosevelt will create what is called the Second New Deal in order to make the economy grow faster.

a. It focuses on the three Rs:

1. ______– ease the suffering of the needy

2. ______– lay the foundation for economic growth

3. ______– prevent a future economic crisis

b. Is often called the “______” because many agencies created were known by their initials. Some examples:

Problem / New Deal Solution
Stock market crashed because of over speculation and risky investments. / SEC – ______Commission
Regulates the stock market and prevents fraud **
Banks failed and people lost all of their money in the process / ______ – Federal Deposit Insurance Corporation
Government protects money in bank accounts up to $100,000 **
People were losing their homes / HOLC –
Refinanced mortgages on homes
Farmers were suffering from decreased prices; they could not make a profit / AAA – Agricultural Adjustment Administration
Decrease farm surplus and gradually raise food prices. Farmers and livestock producers were paid NOT to grow crops or raise animals.
People, especially young men, needed jobs
/ Created Public Works Projects:
CCC – ______
Provided jobs for 3 million young men ages 18-25. They were paid $30.00 a month, food and housing
PWA – ______
Construction jobs: highways, dams, sewers, schools
TVA – ______
Build dams and hydroelectric plants in the Tennessee River Valley.
*Still provides power to nearly 8 million people in a 7-state region
WPA – ______
Construct highways, roads, streets, public buildings, parks
There was also a division that provided work for artists, musicians and writers
Lack of unemployment and retirement benefits / ______ –
Creates unemployment benefits, old age pensions, and child welfare benefits **

C. In addition to programs on the national level, most ______also created a series of programs and benefits to help the people of the state.

D. The ______did not create a “cure” for the ______, however it did help ease the worse of the problems Americans were facing and began to restore people’s faith in the government and give them hope for the future.

Cornell Note Summary:

______