HIS 3728 Lecture 18: New Deal
18 Nov 2016
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Crash of 1929- symptom, not cause, of the depression. 29% unemployment, over 50% for african americans. 5,280 farms in nash county decreased to 3,500. 200,000 less people got married in 1930 then 1929. 1932- fdr elected over incumbent hoover who believed in laissez-faire, caused realignment and formed democratic and republican parties with the main difference being economics. Dem- south, working class, minorities, ethnic urban, african americans. Trickle down economics- cut ta(cid:454)es for (cid:449)ealth(cid:455), a(cid:374)d the(cid:455)"ll i(cid:374)(cid:448)est (cid:449)hich (cid:449)ill increase jobs. Fdr- trickle up economics- create jobs so people pay debts and spend which creates jobs. Ccc (civilian conservation corps) aimed at young men to build trails, be at camp, got to keep 25% of money earned and 75% was sent back to their family. Nra (national recovery agency) created codes for every industry (failed) Aaa (agricultural nra) successful but out of control now. Glass steagle banking act- 2 kinds of banks, investment and saving/loan, divided them,
