-Lucas finished his today and her talked about the Banking Act of 1933. The Banking Act established the FDIC. It was passed in 1935. The FDIC insures peoples money and makes them feel safer putting money in a bank.
-Alex went next and his two topics were the Agricultural Adjustment Act(AAA) and Huey Long(Why people criticized the new deal). Farmers lifes were going down hill they couldn't pay their bills and went into debt. The AAA was established in 1933. It paid farmers to reduce farm ares around 30%. They farmers did reduce their crops and their prices rose so they were doing better financially. The second AAA replaced the first one because they thought the first one was unconstitutional. They payed farmers to plant less, farmers killed animals, burned crops just to have less to make the prices go up. Some people and farmers saw this as cruel.
Huey Long was a senator of Louisiana. He didn't like the new deal because they weren't distributing the wealth very well. He wanted heavy tax on wealth and large handouts to the poor. He didn't want anyone to earn more than $1 million a year and no less than $4,000. He was going to run for president but he was assassinated. He wanted to take money from the wealthy and give it to the poor basically.
-Bri went next and her two topics were movies of the 30's and the Farm Securities Administration. Rexford Tugwell helped start the FSA. This was started because of the failing of the Agricultural Adjustment Act. The administration bought out farms that were not financially stable. The FSA would take unemployed people from big cities and take them and settle them in California or Nebraska or places to be farmers. Some people didn't have backgrounds in farming and didn't want to be farmers. The FSA helped 455,000 farm families. The FSA took a lot of pictures so they could document all the problems farmers were facing. The 30's was known as the "Golden Age." It was also known as the decade of color and sound.
What was the New Deal(1st and 2nd) and it's goals(3 R's)?The first new deal aimed at the businesses on top and the second new deal aimed at the people that didn't have jobs. They both helped get America out of the depression.
Why did people criticize the New Deal?
Townsend didn't think the New Deal was going far enough. He thought it should involve the old people more. He wanted a pension of $200 for each person over the age of 60. Huey Long thought the New Deal needed to distibute wealth more. He wanted a heavy tax on the wealthy and handouts to the poor.
Why was FDR upset with the US Supreme Court and what did he do to try to solve this issue?
The Supreme court wasn't going to pass FDR's New Deal because they thought it was unconstitutional. The court had mostly old people who were old school. The Court-Packing Plan was FDR's idea to stack the Supreme Court in his favor so his plan would be passed.
How did the New Deal help:
unemployed-The RFC, gave money to small businesses, state governments, and banks to give loans to places to give jobs. farmers
factory workers/labor- labor unions. The NLRB, prohibited unfair labor practices, long hours at work, unsafe envirnment, ect. The FLSA banned children from 14 and under from working in factories. Set wages her hour and set hours for a weekly worker.
young people
banks/business- FDIC put peoples faith back into banks and insured people money. The SEC watched over and regulated the stock market.
home owners
elderly
Native Americans Describe the culture of the 1930's. Key terms: Hundred Days fireside chats priming the pump deficit spending
Key terms:
Hundred Days- FDR's first hundred days of presidency. He passed fifteen major bills.
fireside chats- FDR's chats on the radio.
priming the pump-Stimulated the economy and put money into circulation.
deficit spending-
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