HIST 4061 Lecture 3: Hist4061 notes week 3

• School: York University
• Department: History
• Course: HIST 4061
• Professor: Jerry Ginsburg

Document Summary

Great depression stock market crash october 1929 causes financial panic. 1930: 4 million jobless, by november same year, 6 million jobless. Blacks and other minorities sank deeper into destitution: economic issues aggravated old tensions of labor vs capital, black vs white, male vs female. President hoover opposed relief payments for the unemployed voters turned him out of office in 1932. Roosevelt was elected president following, and helped to restore public confidence in government and economy. Roosevelts new deal was a succession of laws to aid the poor and unemployed by using deficit financing to stimulate consumer buying power: this led up to americas welfare system. Unions were established in areas like automobile, steel and meat packing: blacks also took advantage of the new deal, less than whites though. Women went back to work but took less pay than men. One goal the new deal did no accomplish was putting back to work all the people who wanted jobs.