Write down and fill in this outline. Then, go back and create an introduction and conclusion. You will get 5 points (max) for each roman numeral. You will receive a max of 35 for the outline. We will have class time (2 days, but not the full class). Then it will be due.
Here is the question you are answering with this outline: Thoroughly Discuss the Causes and Effects of the Depression? What were the various solutions? What were criticisms leveled at the New Deal? How effective was the New Deal? What were it’s lasting effects? I have included some 'prompting' lines around the way to help you understand the process.
I Intro
The great depression was a result of the carelessness and over speculation of millions of Americans. This in addition with the long and difficult war the Americans had just gone through had set us up for economic troubles, but no one predicted what would come. The depression was the worste America’s economy ever got and as a result millions suffered, it was a dark time for us, but as we always do we pushed out and marched toward better days.
II Causes (The causes of the great depression were; Over Speculation, Overproduction and uneven prosperity )
A overspeculation -
It was investing without the company being able to support investments
It eventually caused the stock market to crash
B Govt Policy
Hoover had no government policy he just stayed impartial to doing anything
There was nothing in place to buffer the drop in stock and because of this people suffered
C Unstable Econ
The stock market was constantly rising and caused a giant increase in investment
It caused over speculation and the drastic drop in price
1 uneven prosperity
The distribution of wealth was very top sided.
This made it so necessities were expensive and the middle class struggled to afford every day needs.
2 overproduction
When the economy was good, people were buying luxury items on credit that they really
couldn’t afford. Because of this production increased to adhere to the demands of the
people.
3 worker issues / farm issues
Workers were not being paid enough for their work. Farmers had to make a lot of food
during the war, then after they had the resources to make too much. Neither of them
made enough to support themselves and distribution of wealth only added to the problem.
III Effects
A Poverty
Caused the poor to become “more poor” because they lost all of their money.
The poverty only added to the effects of the depression because money wasn’t being
spent. The distribution of wealth became more significant as well.
B Society
No one could afford anything anymore in a time where innovations were immense.
The fear of communism became more prevalent and people felt scared and unwilling to
take risk.
C World
Trade decreased and America raised tariffs trying to increase production to raise money.
Other countries then tried to do the same in order to keep up.
IV Solutions
A Hoover
He had no solution and wasn’t prepared.
Did little to help end the depression at first.
1 Volunteerism
Hoover didn’t want the federal government involved so he asked companies to volunteer to bail/help out banks so that the govt. wasn’t involved. He felt if they were people’s morals would lessen.
2 Public Works
Government projects set in place to create jobs for the unemployed workforce.
Projects include Hoover Dam and thousands of other projects including parks.
3 Hawley Smoot Act
Raised tariffs on over 20,000 imported goods.
Affected the U.S economy but destroyed overseas trade.
4.RFC
Reconstruction finance corporation.
Set in place by Hoover; gave money to help bail out local governments.
B Roosevelt
Succeeded Hoover as President.
Started the new deal.
Considered a much better president than Hoover and ultimately helped America arise
from the depression.
1 new deal
Roosevelt’s plan to try anything.
He had an advisor to represent each portion of the workforce to accumulate ideas
and make a stable and fair economy.
a alphabet soup
example - AAA
Agricultural Adjustment Administration
Tried regulating what was planted on farms
example - FDIC
Federal Deposit Insurance Corporation
gave bank members the assurance that the money they put in will be able to be returned
example - SEC
Securities and Exchange Commission
Regulated the stock market and prevented fraud
example - CCC
Civilian Conservation Corps
Young unemployed men would be employed by wildlife conservationists to maintain trails
b Criticism?
The right sided conservatives believed that the new deal was doing too much
The left side believed he was not doing enough
2 2nd new deal
a - WPA
Works Progress Administration
created new jobs throughout the economy
b - SSA
Social Security Act
Created unemployment system that offered releif and retirement plans
c - BA
Banking Act
Strengthened the federal reserve
V Criticicism
B Political Criticism (ex. Came from both the Right and Left)
A Conservatives - Still believed he was taking too much power away from the big business companies
B Liberals (ex: criticised the new deal also. They....)
Ex - The critics of the new deal include Huey Long And Father Coughlin
ex - They both argued that the new deal did not do enough to help the people
VI Effectiveness
A Changes in US - IT taught Americans to be more cautious with money, It also brought about many new acts that created job opportunities
B Unions - Unions brought about many new job opportunities that helped the unemployed
C Culture - It brought families closer together and eventually a greater sense of national pride
VII Conclusion
The depression was primarily negative. The hardships millions of Americans faced will never be forgotten. But as a result of this time, we were able to set up corporations and special insitutions to be better prepared for recessions in the future. In addition the people learned to be smarter with their money and to not over speculate when their wallets dont allow it. We learned a lot and although the lasting legacy is bad, what doesn’t kill you makes you stronger and we are much stronger as a result.
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