Describe the cycle of the Great Depression?
What was the New Deal(1st and 2nd) and it's goals(3 R's)?
3 R's
1)Relief - relief of the people that done have jobs or money
2)Reform - banking system and econonimal system needed to be reformed
3)Recovery - recover from the Great Depression
New deal: FDR's plan to get us out of the Great Depression
1st New Deal: focus: they wanted to focus on helping top down. (trickle down theory) they'd help businesses and banks and it would trickle down to help everyone
2nd New Deal: focus: bottom up. if they could get people jobs they would get money and start spending it which would help businesses.
Why did people criticize the New Deal?
Reasons the New Deal was challenged:
1)created a very powerful president that led congress, this was a violation of checks & balances.
2)it was a radical departure from Lassez Faire ideals. Created "big government"
3)Some acts appeared interfearing and at worst unconstitutional
4)Heavy debt burden - the US was engaged in deficit spending and this was unhealthy for the economy in the long run
Father Charles Caughlin - sensored and forced off the radio because he was against jews. He was against Roosevelt for doing too much.
Francis Townshend - felt like roosevelt wasn't doing anything to help the elderly. helped get the social security thing passed eventually
Senator Huey Long - wanted to run for president but was assinated. He was a communist. Would have taken from the rich and given to the poor. Tryed to bring about equality.
Why was FDR upset with the US Supreme Court and what did he do to try to solve this issue?
SUPREME COURT PACKING BILL-
-Roosevelt announced a plan which would introduce legislation that was meant to reform the federal judiciary
-Roosevelt was targeting six out of nine Supreme Court justice that had challenged his domestic programs
-Roosevelt thought that here should be a point an additional Supreme Court justice appointed for every justice over 70 years, that way the newly made court would vote in his favor
-Nobody thought it was right but Roosevelt got this way
-(supreme court was saying some of his bills were unconstitutional)
-Congress didn't pass it.
-Congress thought roosevelt was getting too powerful
-ddint want to pass it because they thought he would throw out balance of checks and balances.
Indian Reorganization Act 1934
-Treatment of the first native americans? -how were they treated? -what was the main item that was taken from the natives. -what happened to the tatives when they got captured?
-Also known as Wheeler-Howard Act or Indian New Deal
What the act did:
-Returning Native Americans their assets back; which was mostly land
-to prevent the decrease in reservation resources
-to build one economy between all the self-government tribal basis
-When white men caught the Natives they sent them to reservations with little food or water
What the act did for them:
-in the end the Natives lost a great deal and were placed in reservations in selected areas of the Us the indians also got to lead their own type of government.
Indian Reorganixation Act terminate the Dawes Act's allotment system. This means the Natives now had the rights to acredit system educational oppertunities and limiteed sovereignty.
Works progress Administration Definition
-it was a new deal agency that provided almost 8 million jobs at cost of almost 11million dollars
-set up by Roosevelt
-Employed Millions of unskilled workers.
-workers constructed roads and buildings.
-they also operated large arts, drama, and literary projects.
-fed childern
-employed 3 million men
-WPA provided almost 8 M jobs.
SUCCESSFULNESS
-the WPA was very successful.
-provided jobs which gave them money
-gave nearly 250,000 African Americans jobs
-gave people a chance to start over.
ENDED IN 1943
-ended when Roosevelt signed an order to end the WPA because WW11 came around in ’41 and people found jobs making war machines.
NATIONAL YOUTH ADMINISTRATION DEFINITION
-the NYA was set up by President Roosevelt as part of the WPA.
-provided part time jobs for high school students and college kids
-headed by Aubrey Willis Williams.
WHAT IT DID
-Orovided almost 370,000 high school and college students with jobs related to school projects.
-paid $6-$40 dollars per month
-155,000 students frrom relief families were paid between ten and twenty-fice dollars a month for the job training
-annual budget of the NYA was $58 million
SUCCESSFUL?
-very
-it proveded many poor high school students with jobs and money
-the jobs also related to the school projects so the student learned also
ENDED IN 1943
-since the NYA was part of the WPA it also ended in ’43.
-cause: congress stopped funding the organization
National Reconvery Administration (NRA)
-Definition-was an american statue which gave the president the authority to regulate industry.
National Industrial Recovery Act (NIRA)
-was the primary New Deal agency established by the US President (FDR)
-the goal was to eliminate “cut-throught competition” by bringing industry
Federal Deposit Insurance Corporation (FDIC)
-FDIC – preserves and promotes public confidence in the US financial system by insuring deposits in banks.
-was created in 1933 in response to the thousands of bank faulures that occurred in the 1920’s and raly 1930’s.
Banking Act of 1935
Definition-establishes the FDIC as a permenant agency of the government
-FDIC-perserves public confidence in the banking system
-HOW IT WORKS
-makes the FDIC permanent
-provides insurance for depositors incase a bank goes out of business
-gaurentees a depositor will get their money back
-if you loose your money, the FDIC has your back.
SUCCESSFUL?
-yes, it is still around
-great depression caused lots of banks to close down depositors lost all their money, FDIC gaurentees this wont happen
-it was successful because it was still around because it is obviously still around. It helped people have confidence in the banks.
Security Exchange Comission (Stock Market/Banks)
-SEC
-Definition: a government commission created by congress to regulate the stock market
and protect investors
WHAT IT DOES
-protects people from dishonest people or business.
-so it basically makes sure that people are not being cheated (investing money wisely)
HOW IT WORKS
-it is made up of 5 commisioners that are appointed by the president and the senate
-makes companies say the truth about the stocks they are selling
-makes businesses to tell the invesors about the risk they are taking
-makes businesses treat people fairly and honestly.
-investors come first
-was created to promote public confindence in the stock market, due to the Great Depression.
EXAMPLE – if someone purchases 5% of a company they must report to the SEC within ten days because of the take over threats it may cause
SUCCESSFUL?
-yes, it is still around.
-people are more confident in investing their money in the stock market which helps out our economy.
Public Works Administration
-Frances Perkins was the person that thought of having a public works administration
-Franklin delano Roosevelt agreed to the PWA in his New Deal proposal in 1933 During the “hundred days”
REASONS
-build things such as dams and bridges, warships, hospitals, and schools.
-goal was to provide employment stabilize purchasing power and help revided the economy
-planned on spending $3.3 million in the first year spend $6 million.
PROJECTS
-July 1933 – March 1939 made more then 34,000 jrojects. Such as airports, dams, warships, bridges, and 70% of the schools and hospitals made during 1933-39
-11,428 road projects, mostly streets and highways made up to 33% of all the projects the PWA did and 15% of its total budget.
TERMINATION OF THE PWA
-in June 1943 President FDR moved industry from the PWA towards war production starting the Federal Works administration
ORIGIN OF THE CIVIL WORKS ADMINISTRATION
-on November 8 1933 President FDR revealed the WVA part of the New Deal during the Great depression
-was made under the Federal Emergency Felief Administration (FERA)
REASON
-The CWA gave manual labor jobs to million of unemployed vitizens in America
-most of the jobs were constructional jobs to improve or construct buildings and bridges
-the jobs were short-term only lasting the winter
ACCOMPLISHMENTS
-during the VWA its workers did some tremendous feats; laid 12 million feet of swere pipe & build or improved 255,000 miles of roads, 40,000 schools, 3,700 playgrounds and nearly 1,000 airports
-cities were improved greatly due to the VWA labor was towards roads and community schools.
TERMINATION OF CWA
-got vriticism from taxpayers untimatly lead to president roosevelt ending the CWA and replacing it with the WPA.
-on March 31, 1934 the VWA that had spend $200,000 million a month and gave 4 million people jobs was ended
-Also called the Wagner Act
-came into play July 5,1935
-stressed collective bargaining(power in numbers, bargaining with others)
-protected workers
-section 9-provents wildcat strikes from the workers. (outbursts and strikes)
-National Labor Relations Board (fought the workers rights, supported and enforced labor unions.)
(act doesn't apply to agricultural employees, domestic employees, supervisors, federal, state, or local government workers, independent contractors and some close relatives of individual employers.)
Fair Labor Standards Act (FLSA)
-passed October 24, 1938
WHAT IS IT?
-formal bill passed by Roosevelt to ban oppressive child labor lawa
-also to set the minimun hourly wage at 25 cents and max. work week or 44 hrs.
Todays law:
-min. wage today is 7.25 and work no min hours
social security act (SSA) (elderly)
-passed in 1935 by FDR
What is it?
-law got its title from Social Insurance designed to pay the retired over 65 with a steady income
What did it do?
-after the GD there were a lot of young orphan children with widowed husbands and wifes who had worked in the past but no longer could so they gave them checks to live on that came from tax payers
Successful?
-yes
-the act was very successful because of the number of elderly and disabled people that were getting the checks and the amount of people that it helped
Has it changed?
-not a lot
-changed from 65 yrs to 62 yrs then changed back.
Emergency Banking Relief Act - passed in 1933 EBRA
-passed on March 3rd
WHAT IT DID
-allowed for the reopening of the banks as soon as examiners had found them to be financially secure
-within three days, 5,000 banks had been given permission to be reopened
-gave Roosevelt the power to: seize banks, direct the Federal Reserve Banks to make loans for closed banks, reopen them when he decided.
-EBRA - in 2 weeks, Americans had returned more then 1/2 of their money that they had taken out before the banks collapsed
-also helped with the stock market
-on March 15th, the stock market had the biggest increase since before the crash.
Federal Securities Act passed in 1933
2 Main Goals:
1) required that investors get to see financial and otehr significant info concerning securities being offered for public sale
2)to establish laws against misrepresentation and fraud with securities.
-the Federal Government was in charge of security versus having the "blue sky laws" from the states
-before securities could be offered for sale they had to be accompanied by full and true information
-Regulated holdings and transactions of stocks from employees of that business (didn't let you buy stocks from that company if you worked for the company)
-let shareholders to vote for or against policy proposals
-set up a Federal Trade Commission
-it was replaced by the Securities and Exchange Commission Act in 1934
-the Federal Securities Act was set up several basic concept which most were then modified down the road.
-still around but things have been added
COMPANIES NEEDED TO BE FAIR AND HONEST TO STOCK HOLDERS.
How did the New Deal help:
CCC:
-Work Relief Program
-New Deal Program - FDR
-provided men with jobs
-conservation program in all states and territories
-men were between 18-25.
-sent money back to their families.
-employed at max; 300,000 men/year
-most popular new deal program
-planted 3 billion trees.
-over 9.5 years - 2.5 million men
what they did: 300 tasks into 10 classifications
-structural improvement
-transportation
-erosion/flood control
-forest culture
-landscaping
-range and wildlife.
(conservation/outdoors/wildlife)
Requirements for CCC:
-werent married
-unemployed
-40 hrs/week
-$30/month...22/25 sent to their families
-After Bonus-Army vets
-143 segregated camps
it was successful
-employed men
-helped America look good
-help forests
-best ND program
it ended eventually.
FERA
-Federal Emergency Releif Act
What is it?
-one of the first relief operations
-gave loans to states - Hoover
-Employed people to work for the government (state and local)
-gave men breadwinner
what kind of jobs?
-gonstruction & production of goods
-surveys, clean up parks, museums, renovations
successful?
yes.
-gave people jobs
-gave women jobs
unemployed
WPA
NYA
PWA
CWA
-RFC: gave loans to banks, state, and local govt's and businesses to create jobs for people. gave states loans for emergency relief. started under Hoover. Not as successful as Hoover had hoped. Dissolved in 1946 after WW11
farmers
factory workers/labor
-NIRA
-NRA
young people
banks/business
-FDIC
-RFC
-Banking Act
-Security Exchange Comission
home owners
elderly
Native Americans
Describe the culture of the 1930's.
Key terms:
Hundred Days-Roosevelt promised he'd get a lot done in his first 100 days
fireside chats-Roosevelt used the radio to talk over the radio to communicate to everyone.
priming the pump-priming the pump lead to defecit spending. (water wells). priming the pump meant that the government was going to put money out in the economy to get it to start "flowing"
deficit spending-spending more money then you take in
Blog Discussion
Cesar: Gothic Art work
Dirk: President Roosevelt. (same as mine)
James: John Colier: guy dealt with the Native Americans and wanted to get back at the people being mean to the Natives and since it was the Great Depression he did go to help the Natives.
Derek: Teddy Roosevelt. His 1st wife died of kidney failure. Had like 5 kids. became president after the Assasination o fpres. mckinley. Finished his term and decided not to rerun. he had asthma as a kid. slogan: speak softley, and cary a big stick
Morgan: one of the New Deal progams. the ones that took pics
Nick:cycle of the GD. started with the crash, then people lost jobs, so they spent less money, so businesses failed, more people layed off, cycled.
Hannah: movies during the GD. it was their outlet during GD. Walt Disney: Gone with the wind, snow white. Helped the economy.
Alex: orsen wells, television and radio actor. Created War of the Worlds radio act. He was in Hamlet and Romeo and Juliet.
Zach: Great Depression
Ashley: African Americans
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