2/18
The Three R's- What are they and what did they do? -
Relief, Reform, Recovery. - Relief for the people and getting them jobs and relief checks. Reform the banks, agriculture, industries, and the countries economy and get it back on its feet. The country will soon recover.
Describe some of Franklin Roosevelt's accomplishments. - He took us out of the Great Depression, he was elected four times, he took us into WW2. He created the FERA (Federal Emergency Relief Administration)- Helps grant loans to states and operate relief programs and created jobs for people.
FDIC- Protects people's money.
CCC- prevented kids from dropping out of high school to get a job and told them to wait until they graduated and got an education and then they would help them out.
Roosevelts Fireside Chats. I can explain what fireside chats are and their importance/purpose.
Fireside chats were a series of radio broadcasts that Roosevelt used to explain politics and what was happening in the US currently. His first fireside chat was about the banking crises at the beginning of the depression. It was also said that it was comforting to have these fireside chats directly from the president and it made the people feel more cared for and close to the president personally.
FDR vs. US Supreme Court Court Packing Issue.
I can explain what the Court Packing plan is and what happened in the end.
What was the Court Packing Plan? It was aimed to expand the Supreme Court and Neutralize Supreme Court Justices.
The New Deal- aimed to end prosperity and represented an unconstitutional extension of federal authority.
2/19
The Court Packing Plan Continued...
Why did American's not like the idea of the Court Packing Plan? - A lot of people thought he had too much power and saw his take over in the Supreme Court to be an act of a power grab. He was beginning to seem like a dictator with all the power he was getting.
Results of the Court Packing Plan- 2 supreme court justices came over to the liberal side. The Plan didn't pass.
FDR- I can explain FDR's first 100 days. I can explain the housing groups created.
FDR's first 100 days- He tried to save the US banks and succeeded. He rebuilt the US economy. He did fireside chats to keep in touch with the people.
Deficit Spending- Forcing money into the economy to stimulate it. It was like a giant credit card.
Housing Groups- Home Owner's Loan Corporation- Issued bonds, took debt off of peoples back, helped make it easier for people to pay back loans, and worked with other housing groups. Federal Housing Administration- Insured construction/loans of house development (helps make sure you don't lose the money they loaned you). Stabilizes/provides mortgages/mortgage market. It was created to raise standards for housing. United States Housing Administration- Spreads money to certain communities and created homes for around 650,000 people.
2/21
I can explain the business and bank reform.
How did the business and bank reforms affect the US?
New deal legislation- FDR and the Banking reform. Emergency Banking Relief Act (Bank Holiday)- 1933- It was supposed to help save the banking system and re-open banks. It also extended the president's power. Federal Security Act- Began in 1933 and had 2 main goals which were Investors making informed decisions and to establish laws against fraudulent activity. It helped protect peoples stock. The Federals Deposit Insurance Corporation was made so that people would trust banks again. It ensured people 5,000 dollars when they deposited their money into a bank.
Securities and Exchange Commission- An independent agency of the US federal government. It was made to restore the public's confidence in the financial market.
Critics and failings of the New Deal-
Why people opposed the New Deal- It was supposed to be socialistic and an intrusion of business as well as a violation of property rights. Main opposers- Charles E Coughlin- radio police from Detroit who originally supported the deal and then turned on Roosevelt when he refused to nationalize the banking system. He then made the national union for social justice, which challenged the New Deal and fought for social equality and promoted populist ideologies. Francis Townsend pushed Roosevelt to do more for the elderly because they had nothing and were always the last people to be hired. Because of this, Social Security laws were passed and it saved lives. Every person over 60 was given 200$.
2/22
The Great Depression (1929 - 1940)
Causes- Overproduction of goods, Underconsumption of goods by customers, Agricultural slump in 1920's due to overproduction.
The vicious cycle of the great depression- Companies weren't making money and fired more people, these people couldn't make money and couldn't buy products from companies and the companies got worse and the process repeated. People sold apples for about 5 cents per. Dust Bowl- Ground was overtilled and became dust and desert-like. Farmers didn't have good farming methods like crop rotation. This ruined the mineral-less soil and it couldn't be used. The Hoover Dam was created. Deficit Spending and the Priming the pump- Roosevelt put in money to get the economy going.
Reconstruction Finance Corporation (RFC)- Roosevelt believed in giving loans to banks, state and local governments, and businesses to create projects and jobs for people. He didn't want to just give out handouts and make people lazy.
Huey Long (Kingfish) - "Every man is a King". He was very communistic, due to his slogan "Share our Wealth".
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