![[audio]](../pics/audio.gif) The following information was presented
in this chapter:
In 1929, economy was becoming weak. Some farmers lost their farms.
Factories failed because people couldn't buy all their products. Many
people and businesses were in debt.
International trade had lessened
because tariffs were high. As
the economy worsened, people wanted to sell their stock. The Great
Depression occurred after the stock market crashed. People didn't
have enough money to buy products, so businesses began to fail. Many
people lost their jobs and lived in poverty.
- President Hoover established
some relief efforts, but he did not think that the government should
get too involved in the economy. Roosevelt thought that the government
should give lots of help and create many jobs.
- By the election of 1932, people didn't trust the Republican Party
any more. Roosevelt was elected, and he started the New Deal, which
marked the first time that the government took a central role in
solving major economic problems.
- The New Deal established relief, recovery and reform. By 1936,
unemployment dropped from 13 to 9 million.
- The Supreme Court decided that many of the New Deal's reforms
were unconstitutional.
Roosevelt introduced the Second New Deal.
- African Americans, Mexican Americans, Native Americans, and non-union
workers did not benefit much from the New Deal.
- After the New Deal, the government started to take responsibility
for the poor and had more control over the economy. It became accepted
that the government could have deficits during difficult times.
Important dates to remember:
1929 Stock Market
crashed.
1932 The Bonus Army gathered in Washington, D. C. Roosevelt was
elected president.
1933 Roosevelt started the New Deal.
1935 Huey Long assassinated.
The second New Deal starts.
1936 Roosevelt reelected.
1938 No more New Deal legislation passed.
Who's who in this chapter:
President Hoover started some reform,
but didn't want to get too involved in economy.
Franklin Delanor Roosevelt is elected and reelected and starts
the New Deal.
Huey Long wants more support to be given to the poor. He is assassinated.
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