|
Overproduction continues after 1927, even though consumer spending. Dropped Stock investment increased heavily. The Stock
Market crashed in October 1929. Unemployment rises to 25% by 1932. 500,000 Mexicans and Mexican-Americans were deported. Private
charities and local governments spent all they could. Hoover thought handouts would undermine American morality. Some federal
programs were enacted.Federal Farm Board loaned $ and bought surplus crops. Some public program worked Boulder Dam. Banks
closed on March 5 to stop runs and allow for time for reform. Provided for government supervision and federal aid. March
12 FDR told Americans the banks were now safe. Deposits outnumbered withdrawals. Banking crisis had ended. FYI: The three
aims of the New Deal were Relief, Recovery and Reform. Two major New deal programs of the first hundred days were NRA, AAA.
Roosevelt, unlike Hoover, favored direct federal support. The New Deal seemed to help businessmen and skilled workers, but
those at the bottom Weekly relief payments were smaller for blacks than whites. NRA permitted lower wages for black workers
(Negro Robbed Again. AAA led to evictions of tenants and sharecroppers. 65% of African Americans were ineligible for Social
Security or minimum wage due to job classifications. Nevertheless, black voters switched allegiances to the Democrat Party.
of the economy needed more assistance. A large Democrat victory in 1934 congressional elections gave FDR the mandate and
the impetus he needed to make more radical reforms to combat the continuing depression. FDR appointed several black advisers.
82% of Americans and 75% of women disapproved of working wives. % of women working in the 1930s increased. NRA codes allowed
much lower wages for women. FDR declares the Supreme Court in need of change and reform. Proposed a supplemental judge for
each one over 70. An addition of 6 new judges.
|
