Describe the cycle of the Great Depression?
What was the New Deal(1st and 2nd) and it's goals(3 R's)?
-Roosevelts plan to help us out of the Depression
-Relief-Reform-Recovery
-Dealt with banking,railroads,and farming
-The Brain Trust came up with new deal-Advisors to Roosevelt
-bank holiday to help them recover
-Acts:Wagner Act-WPA-Social Security Act
-1st focused on getting out of depression and economic recovery-helped big business and banks-top down
-2nd-bottom up-help individual people more-people buy products to help businesses
3 R's:
-Relief-immediate action taken tostop the economy crashing-relief to the people-welfare checks,job opportunities.
-Reform-Prgrams to avoid another depression and insure citizens against economic disasters
-reform banks and stock markets
-Recovery-Temporary prgrams to restart the flow of consumer demand
Why did people criticize the New Deal?
-Failed to end the Great Depression
-Deficet spending increased
-too much gov. regulation
-Many disagreed with social welfare prgrams
-socialist economy-gov.controls businesses
-free market-seperation of powers
-huey long and charles coughlin didn't like roosevelt b/c he wasn't doing enough to help people
-Francis Townsend's plan-old age pention and give younger workers jobs
Why was FDR upset with the US Supreme Court and what did he do to try to solve this issue?
-Supreme court thought New Deal was uncostitutional
-Roosevelt proposed adding 6 more judges to expand Supreme Court
-All judges would be in favor of new deal
How did the New Deal help:
unemployed:
-CivilianConservationCorporation:
-gave jobs to men 18-25
-provided unskilled manual labor jobs related to conservation and development of natural resources in rural lands owned by federal, state and local gov.
-supplied a possible of 300 jobs
-strucutural improvements,transportation,erosion control,flood control,forest culture,forest protection,range,wildlife.
-Sucess:
-msot successful prgram in the new deal
-provided financial relief
-provdided conervation projects
-WWII-Depression ended
-ran by U.S army
CIVIL WORKS ADMINISTRATION:
-built buildings,bridges,and playgrounds
-12 million ft of sewer pipe
255,000 miles of road
-40,000 schools
-3,700 playgrounds
-1,000 airports
-250,000 outhouses
-Ended March 31st
-Spend $200 million per month created over $4 million jobs
WPA:
Works progress administration:
-Biggest and most ambitious New Deal project
-built buildings and roads
-operated arts,drama,media,and literacy projects
-budget $1.4 billion
-provided milions of jobs -spent $13.4 billion
farmers:
factory workers/labor
young people:
National Youth Administration:
- Provides work training based on citizenship and financial need for youth 16-25
-Offered courses in reading,writingm and arithmetic
-train unemployed out of school youth
-Successful for a while
-with war approaching jobs were switched to war work
-ceased in 1943
-found useless, unimportant, and expensive
-encouraged youth to train for jobs
banks/business:
RFC:
-estabilished in desire to lend money to banks,railroads,and other key economic institutions to make sure these institutions would remain in business.
-rfc borrowed money from treasury fundes
-Congress provided agency with starting amount of $5OO million
-Emergency relief and construction Act enlarge RFC's power to allow for loans to state gov. and farm agencies.
-RFC never had intended impact
-It gave states loans in emergency relief.
-Many loans were given out to banks
-Publicaton of the loaning from the RFC reduced effectiveness of lending to banks.
-Glass Steagall Act-prohibits commercial banks from engaging in the investment business
-Started b/c of bank failure
-Helped public believe in banks again
-Repealed in 1999
Emergency Banking Relief Act:
-Established in 1933
-First Act passed in FDR's New Deal
-Allows president to take over non finacially stable banks and direct the Federal Reserve to make unsecure loans to them and reopen when he wants.
-Allows banks to stay open and do business as normal
-Loan money to customers who normally would have been denied loans
-Made lower income people happy
-Banks were still running and not shut down
-Temporary Act
-once problems were fixed it was no longer in use
The Federal Securities Act:
-Security- stocks
-purpose was to ensure that buyers of securities receive complete and accurate information before they invest.
-prospectous-company tells truth
home owners
elderly:
-Social Security Administration(SSA)
Native Americans
-Indian reorganization act-secured the new rights of native americans by giving them right to manage their own land
-helped get goo economic foundation
-replaced Dawes Act
-Dawes Act-authorized hte president tribal land and divide i for individual indians
-Americanize Indians
-NA could have separate gov. and not need to have the same laws
Describe the culture of the 1930's.
Music/Movies:
-musical movies were popular
-Wizard of Oz-direcotr Victor Fleming
-horror movies were popular:Dracula, Frankenstien,The mummy
Music:
-hillbilly music was popularized
-swing dancing, jitterbugs-Big Bands
Key terms:
Hundred Days
-Roosevelt made series of social,economic,and job-creating bills
-15 major bills passed in first 100 days
fireside chats:
-Series of radio broadcasts from Roosevelt
-First one in 1929
Defecit Spending:
-Spending money that you don't have
-In order to support relief prgrams we needed to spend more money
Priming the Pump:
-pump money into the economy
National Labor Relations Act:
-fall undr railway labor act
-agriculture employees
-domestic eomplees
-It encourages and promotes collective bargaining
-protects groups of employees
-gives employees the rights to bargain with their employeers
-prohibits discriminating employees who files charges or support a labor union
-The National Labor Relations Board conducts elections for labor union representatives
-investigates unfair labor practices
-At first people thought it would not work out
-Some viewed it as a threat to democracy
-It's still around today
Fair Labor Standards Act:
-established a national minimmum wage,time and ahlf for overtime,and prohibited a lot of minor working
-minimum wage started at $0.25
-when working overtime,a worker would get paid their regular rate plus half of it
-Limits the hours in a day or week for anyone under 16 years
-It was sucessful
-parts were conterversial
-Still around
-minimum wage is now $7.25
-FLSA was amended in 1963 so pay couldn't be based on gender.
Unemployed:
Tennessee Valley Authority: TVA
-People thought pribatley owned power companies charged too much for power
-Most of hte private companies in the Tennessee Valley were bought by Federal Gov.
-Government regulations passed to prevent competition
-Was created to provide navigation,flood contorl,electricity generation,fertilizer manufacdturing and economic development in Tennessee Valley
-includes most of tennessee, portions of Alabama, Mississippi, Kentucky, and some of Georgia, North Carolina and Virginia
-Provides electric powe to over nine million customers in the Tennessee Valley
-It acts primarily as an electric power wholesaler
-the power comes from dams, fossil fuel plants,nuclear power plants,combustion turbines, wind turbines, and solar panels
REA: Rural Electrictrification Adminstration
-90% of urban people had electricity by the 1930's
-only 10% of rural people had electricity
-Private utility companies claimed it was too expensive to stretch electric lines to rural areas
-Believed most farmers were too poor to afford electricity
-1935 REA was created to bring electricity to rural areas
-1939 the REA had established 417 rural electric cooperative
-seved 288,000 households
-REA stretched lines all the way out to the country side
-REA was abolished in 1994
-Rural Utilities Services took over
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