- Ch. 15 Test Topics
Describe the cycle of the Great Depression?
What was the New Deal(1st and 2nd) and it's goals(3 R's)? - 1st- 3R's, dealt with banking, railroads and farming, Brain Trust thought of it, there was a bank holiday to help the banks recover. 1933-1934, helped the banks and big businesses- trickle down theory.
- 2nd- Wagner Act- promoted labor unions, WPA relief program, SSA, fair labor unions. 1935-1936, helped the poor, get money and buy products- trickle up.
- Differences- 1st economic recovery, get out of the depression.
2nd- social justice, stay out of the depression.
3R's- - Relief- immediate action taken to stop the economy crashing, Rcovery- temporary programs to restart the flow of consumer demand, Reform- programs to avoid another depression and insure citezens against economic disasters.
Why did people criticize the New Deal? - Too much gov. regulations, FDR removed the gold standard, people disagreed with the social welfare programs.
- Huey Long- thought New Deal was too generous to the corporate instrests.
- Charles Coughlin- FDR failed to use additional radical reforms.
- Francis Townsend- his plan was to open up postitions to younger workers so elders would retire, he thought FDR wasn't helping the poor or the elders.
Why was FDR upset with the US Supreme Court and what did he do to try to solve this issue? - The supreme Court thought many of the large organizations of the New Deal were unconstitutional.
It upsetted FDR because the New Deal might not be passed and it was his program to make the economy better.
How did the New Deal help:
Unemployed- - RFC- created jobs.
- CCC- created jobs.
- CWA- Civil Works Administration-built buildings, bridges, playgrounds, created over 4 million jobs, ended on March 31, 1934.
- WPA- Works Progress Administration- biggest and most ambitions New Deal project, started in 1935, built public buildings and roads, closed on June 30, 1943.
- FERA- Federal Emergency Relief Act- wellfare check, created jobs, clothes.
- PWA- Public Works Administration- created construction jobs, put money in economy.
Farmers- - AAA- Argicultural Adjustment Act- 1933, restricted ag. production by paying farmers subsidies not to plant part of their land and kill off excess livestock, raised value of crops.
- AAA- Agricultural Adjustment Act- 1938, replaced the earlier one, made prices support mandatory for corn, cotton, and wheat.
- Soil Conservation and Domestic Allotment Act- 1936, allowed gov. to pay farmers to decrease production so as to conserve soil, prevent erosion, and achieve other minor goals, took immediate action to contain the dust bowl's effects, still around.
- FSA- Farm Security Administration- helped poor rural Americans become more self sufficient during the depression, created farm loans- buy land, equipment, seed and livestock, created rural rehabilitation- participate in health plams, take adv. of education training, use loan money for home, and sanitary improvments, created homestead programs- gov. buyout of unproductive land, 1946- became Farmer's Home Administration,
- REA- 90 percent in urban people had elecrically by 1930 but only 10 percent of rulal people did
Factory Workers/Labor- - NRA- National Recovery Administration
- NLRA- National Labor Relations Act- Wagner Act, limits how emplyees can react to labor unions, engage in collective barganing and participate in strikes, allowed the gov. to intervene in more labor relations, didn't apply to- ag. employees, encourages and promotes collective bargaining, protects groups of employees, gives employees the rights to bargain withe their employers, prohibits discriminating employees who file charges or support a labor union, it's still around,
- FLSA- Fair Labor Standards Act- establisghed a national min. wage, it's still around.
Young people- - CCC- Civilian Conservation Corporation- A public work releif program for unemployed men who were 18-25 years old, provided unskilled manual labor jobs relatedt to the conservation and development of natural resources in rural lands owned by federal, state, and local gov., working on bridges, irrigation, truck trails, planting trees amd shrubs, fire fighting, public camp ground development, elimination of predatory animals, food stocking, surveys. Most successful program of New Deal, ended in July 1942.
- NYA- National Youth Administration- 1935, provided work training on citizenship and financial need for youth between ages 16-25, offered courses in reading writing and arithmetic, ended in 1943.
Banks/Business- - Glass-Steagall Act.
- RFC-Reconstrution Finance Corporation- lend money to banks, railroads, and other key economic institutions to make sure they would stay in business, borrowed money from treasury fund. Banks didn't want to take loans because they didn't want people thinking that they were going out of business. Ended in 1957.
- EBRA- Emergency Banking Relief Act- 1933, first act passed in the New Deal, allowed the president to take over non financially stable banks and direct the FR to make unsecure loans to them and reopen when he wants, allow banks to stay open and do buisness as normal, could loan money to costomers who normally would have been denied loans, it was succesful, temporary act.
- FDIC- Federal Deposit Insurance Coorporation- insures saftey of deposit.
- NRA- National Recovery Administration- started in 1933, created by the NIRA, bring industry, labor, and gov. together to make rules and set prices, reduce destructive competition, set min. wage and weekly work hours, 40 hour work week, helped abolish child labor, didn't help small businesses or consumers, ended in 1935.
- Banking Act of 1935- established FDIC as permanent gov. corporation, separated commercial and investment banking through the Glass-Steagall Act.
Home Owners-
- HOLC- Home Owners' Loan Corporations- 1933, helped people by buying up morgages from banks, refinanced them up to 80% of assessed value at a lower intrest rate, extended loans from shorter to longer terms so homeowners would be able to make payments, stop giving loan in 1935, completely ended in 1951.
Elderly-
- SSA- Social Security Administration
Native Americans- - IRA- Indian Reorganization Act-Wheeler-Howard Act- It secured the new rights of Native Americans by giving them the right ot manage their land and resources, helped them get a good economic foundation. Indians could have their own separate government and not need to have the same laws.
- It replaced the Dawes Act- it authorized the president of the U.S. to sirvey tribal land and divide it up for individual indians.
Stock Market- - The Federal Securities Act- ensure that buyers of securities recieve complete and accurate info before they invest, companies had to send out a prospectus- company tells thier plans fot the future and discuss their financial statemetns, still around.
- SEC- Securities and Exchange Commision- 1934, regulated stock exchange, it was successful, made the stock market safer, it's still around today.
Consumers-
- FD&C- Food drug and cosmetics Act- gave FDA the authority to oversee the safety of food, drugs, and cosmetics, keeps things that we buy safe, still around today.
Describe the culture of the 1930's.
Sports
- Football, baseball, basketball, boxing were big sports.
- Baseball- Negro league and Major league.
- Soccer- first World Cup was held in Uruguay in 1934.
- Olymipcs were in Germany in 1936. America had it's biggest team ever, Jesse Owens, African-American track runner, won and Hitler turned his back to him.
Fashion - Guys- business suit, old clothes, trenchcoats.
- Girls-vintage hats with matching purses, fur, take money and bought clothes instead of food.
Movies - Wizard of Oz, many horror movies- Dracula, King Kong, Frankenstein.
Music
- "hillbilly"- country, western swing, beginings of blue grass. Jitterbug and swing dancing. Over the Rainbow, Silent Night Holy Night, God Bless America.
Key terms: - Hundred Days- FDR's concept, 1st hundred days in office, called congress to special session for 3 months, made series of social, economic, and job-creating bills, 15 major bills passed in 100 days.
- Fireside chats- series of radio broadcasts from Roosevelt, first one in 1929, people sent letter of what they wanted hinm to talk about.
- Priming the pump-got more people jobs, they had to spend a lot of money, lead to more debt-3.3 billion through the public work administration.
- Deficit spending- spending money you don't have, FDR wanted us to get out of the depression, to support relief programs we needed to spend more money
Comments