presentations:
Farm Security Administration:
goal was to encourage farmers to farm less in order to raise crop prices
helped women learn how to cook and raise children
helped tenant farmers purchase farms by giving out loans
relocated some farmers to the cities and sometimes the opposite
SEC (securities and exchange commision):
protects investors and maintains fair, orderly, and well-established markets
got rid of pooling and all of the fraud that was taking place
meant to restore investors confidence to put their money back into the stock market
they analyze securities laws
make new rules and fix existing ones
watch over the stock market and make sure that they got rid of fraud and made people feel safe about their money
5 divisions
division of corporation finance-
carry the responsibility to look over important disclosure info and relay it to the investing public
still around today
rural electrification administration:
process of bringing electricity into rural ares
1930s 90% of urban ppl had power and only 10% of rural ppl did
ppl claimed that it would cost too much to bring power out to the country
gov't stepped in thinking it was their job
companies did not like this
TVA helped ppl get electricity
president at first wanted to have state gov'ts to help
the REA helped low populated areas
was a big job to set up all of the lines in the country
in 1950s almost all farmers were supported by the REA
the Rural Utility Service took over
critics and failings of the New Deal:
Huey long turned against the new deal, claiming that it was too obligated to business
at first he supported roosevelt
in1932 he wasn't offered a federal ppost and turned against roosevelt
he wanted a "share our wealth plan"
plan was going to take all of the money from the wealthiest and redistribute it to the poor
he was assasinated
Father Charles Couglin supported roosevelt at first
thought that roosevelt wasn't doing enough to help ppl
spoke against roosevelt as a liar
thought that the new deal was a communist conspiracy
talked a lot on the radio
Francis Townsend thought that older people should get more rights
proposed that the gov't give 150 dollars to old ppl over 60 yrs old evry month
ppl would spend the money and help the depression
social security act attempted to decrease old age, poverty, and unemployment issues
he thought it wasn't good enough
coughlin, long, townsend, and others all got together to make sure that roosevelt wouldn't go back into office again, but that failed
were socialist guys
new deals' failings-
unemployment didn't drop as fast as ppl thought it would
court packing issues:
attempt to make sure that his acts would not get declared unconstitutional
roosevelt saw a chance to confront the supreme court
was afraid that the supreme court would declare other acts unconstitutional like they did with the aaa
he feared that we would keep losing money
he said that for every justice over 70 years old he wanted to be able to add one new justice
would have taken supreme court from 9 to 15
which made sure that it would not be declared unconstituional
it did not happen though; ppl thought he was becoming a dictator
the difference between the first new deal and the second new deal:
1st:
1933
based on the 3 rs
relief, recovery, reform
consisted of many programs that would get america back on its feet after the great depression
FDR knew we needed help
2nd:
1934-1936
more of a second stage
called for different objectives then the first new deal
the first dealt more with bankers, railroads, business, and farmers
the second helped more people who needed money and made the economy safer
just had different focus
roosevelt:
named after his uncle
DID NOT WANT TO BE GERMAN
liked to golf
only handicaped president we've ever had
went to harvard
FDIC:
created by the glass-steagall act
federal deposit insurance corporation
insured people's bank accounts incase the bank closes down
up to 250,000
still around and it is used a lot
Describe the cycle of the Great Depression?
What was the New Deal(1st and 2nd) and it's goals(3 R's)?
relief, recovery, reform
plan to bring recovery to US
relief- unemployment and the poor
recovery- the economy
reform- fincial systems
Why did people criticize the New Deal?
Why was FDR upset with the US Supreme Court and what did he do to try to solve this issue?
How did the New Deal help:
New Deal- FDR's program to get us out of the great depression
unemployed:
tennese valley authority:
made to develop the tennessee river system
for proper use of water resources
conservation and preservation of land resources of the region
*flood control
generate electricity to avert the waste of water power
the tenessee river valley was drained by the tennessee river
is 41,000 square miles
produced several dams
created electric power
distributed power to retail consumers
tennessee valley authority act- 1933
provided electricity to homes and businesses
tried to stop floods by building dams
replanted forests
still around today; largest public power company in the US
provide recreation
protected water quality
helped farmes and provided many jobs for people who were building dams
the civilian conservation corps:
CCC- provided meals, housing, uniforms and small wages working in forests and gov't properties to 250,000 men 18- 25 yrs old
300 possible lines of works
most of them were forest related
separate division for indians
most popular but did not last
paid roughly 30 dollars a month a lot of it was sent back to their families
ran by the military
farmers:
soil conservation and domestic allotment act of 1936:
gov't paid farmers to reduce overproduction of crops
made to prevent soil erosion and conserve american soil
when you overproduce crops it causes them to lost value and damages the economy
the dust bowl was one of the reasons this act took place
decreased soil erosion by 65% in 3 years
factory workers/labor
young people
banks/business:
national recovery administration- june 16, 1933
controls industrial pricing, production, trade practices, and labor relations
make sure they didn't over produce
industries created codes of fair competition set minimum wages and maximum working hours
set floor prices- people who set limits on prices of goods and stuff
if you had a blue eagle sticker in your window you were doing your part in the codes of fair competition
Food Drug and Cosmetic act:
1938- gv't had athority to oversee food, drugs, and cosmetics by the FDA
inspired by an accident in which many people died bc of a solvent put in medicine
The banking act of 1935:
orginally created in 1933
FDIC was created during this act
the FDIC at first only insured 5,000
now it insures up to 250,000
home owners
elderly
Native Americans
Describe the culture of the 1930's.
Key terms:
Hundred Days- first 100 days of FDR being president
in those 100 days he passed 15 bills
ex:
emergency banking act
national industrial recovery act
civilian conservation corps
agricultural adjustment act
fireside chats:
roosevelt used the radio to communicate with people as if he were there with him
called this bc most ppl had a radio so they sat around it as if you were sitting around a fire
he wanted to gain support for the new deal
ppl spent hours listening to roosevelt
he liked talking to kids too
bad thing was that you couldn't ask questions and get immidiate answers
people enjoyed listening to what he had to say
first was on march 12, 1933
explained why the banks failed
priming the pump:
having to spend a lot of money to prime the economy
term used for the process of the gov't spending deficits during recessions to boost the economy up to a better state
hoover was the fist to use this but FDR made it popular
the term came from priming old fashioned pumps to fix them
the gov't kept taking things into their own hands until everything was made better
is still used today when the economy goes into a recession
deficit spending
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