Today we continued with the presentation. FDR's backround FDIC was his other project. It insures 7,723 banks. Insures people's money in banks up to 250,000. Part of the New Deal. Federal Deposit Insurence Coorperation. Brandon went next.Federal Food,Drug and Cosmetic act-inspired by an accident in which 100 patients died because they mixed a solvent with antibiotics and it killed alot of people
Fire Side Chat- FDR started these chats durign first term as governer of new york. Used radio to communicate with people started them to restore confidence in the country and to gain support for the New Deal great way to gey your message out to the whole country first chat was on March 12, 1933 explained why the banks were failing people started to put their money into the banks the next day
Deficit Spending-when a government spends more money then they make for a certain period FDR thought that they had to do this to help people in the long run They had to spend money for the NEw Deal poeple thought it was unnecessary
Soil Converation and Domestic Allotment Act- paued farmers in the us to reduce overpopulation of crops.
Priming the Pumb-term used for the process of the govern. spending deficits during recessions to boost the economy up to a better state, which carried with it businesses. and industry. Hoover used it first then FDR used it. Government took theings into their own hands to improve the economy. Used today when the economy goes down.
Court Packing Issues- when Roosevelt was elected president he sawe a chance to confront the Surpreme Court. The reason for doing that is because they invalidated the NIRA(National Industrial Recovery Act) and in 1936 the AAA(Agricultural Adjustment Administraion) Declared Unconstitutional Roosevelt was afraid of the Surpreme Court would do that to the Social Security Act. He said that for every justice over 70 i want to be able to add a new justice. If he added 6 new guys then his laws wouldnt be declared unconstitutional. He didnt get the people added. It back fired on him made people think that he was trying to be a dictator.
Securities and Exchanges Commission-The SEC protects investots and well established markets SEC helps regulate the markek so people have higher chance at their investments paying off. Restored the imvestors confidence to put thier money back into the stock market. Analyze federal securities laws, make new rules and fix existing rules. Broken into 5 divisions.
Civilian Conservation Core-
Describe the cycle of the Great Depression?
What was the New Deal(1st and 2nd) and it's goals(3 R's)?
Differences betweens the 1st and 2nd New Deal-1st New deal passed in 1933 based and the 3 R relief recovery reform. 1st new deal consisted of several economic program s that would help Amerioca get baxck on its feet. 2nd New Deal was more of a second stage of the new deal it called for different abjectives tjhan the first new deal The two new deals called for different abojectives based on the needs of the country at the time the first mew deal dealt with bankers the railroad and businesses indusrty and farmers 2nd created acts and admionistrations like the Social Secuirty Act and the works Progress Administratiion the Acts helped make economy better and safer by makeing laws such as labor laws
Three R's-Relief recovery reform. Relief is for unemployment and the poor. Recovery for the economy to normal levels. Reform the financial system to prevent another stock market crash
New Deal is FDR's programs to get us out of depression.
Why did people criticize the New Deal?
Critics and Failing of the New Deal- Huey long was one of the early supporters of Roosevelt but turned against him claiming the New Deal was to much for larger businesses. Share our Wealth Plan this plan was going to take all the money from the wealthiest and redistribute to the poor. He was assassinated a month before he announced he was going to run against Roosevelt in the 1936 election. Father Charles Coughlin was a supporter of FDR and he didnt think that he was helping the people enought. He spoke against FDR saying that he was a liar clained the FDR was a dictator and the New deal was a communist act. Francis Townsend Townsend proposed that the Government gave 150 to people ober 60 every month they would spend the money which would help the economy.The social Security Act attempted to decrease old age poverty and unemployment issues. Unemployment didnt drop as fast as they thoyught it would. It put us in big debt states powers became weaker. Some Alphabet agencies didnt pass they thought they were unconstitutional.
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:
unemployed
Civilian Conservation Corps- FDR promised that the CCC would provide meals housing uniforms and small wages working in forests and government properties to 250,000 young men. 300 possiple lines of work. Sunctructions imporvements transportation erosion control flood control forest culture forest protectuion landscape range wildlife and miscellanoues
Tennesse Valley Authority-The TVA is an independent Government corporation. created ny congress. Made teneesse river system proper use of water conservation and preservation o fland resources if the region.Generates and sell surplus electricity to evert the watse of water power and flood control. The tennesse river valley was drained by the tenesse river and its tributes. 41,000 square miles. 3 interelated programs.
Tennesse Valley Authority Act- provides electricity to homes and businesses tried to stop floods by buliding dams replanting forests Largest public power incompany in the US. Provided recreation and protect water quality. Runs the nations 5th largest river system in order to control flodding. Makes rivers easier to travel.
farmers
Agricultural Adjustment Act-act that the government passed that paid farmeers to not to plant some of their crops and kill off extra livestock. Passed first May 12 1933 Passed 2nd in 1938 Intent to restore purchasing power of farmers like it was before WW1 Farmers got money by tax on companies that processed farm goods lead to unemployment because they didnt need them to help them plant declared unconstitutional in 1936 because the food processors were being taxed to pay the farmers to not plant. Now there is general taxation so everyone is taxed not just the businesses.
Soil Converation and Domestic Allotment Act- paued farmers in the us to reduce overpopulation of crops.
this made to prevent erosion and conserve American soil. Because of Dust Bowl. led to 65% of soil erosion in 3 years ended the dust bowl.
Rural Electrification Administration- Is the process of bringing electricity into rural areas. Companies didnt want to give farmers electricity because it cost to much. Government got involved and gave farms electricity and companies got mad. TVA tried to help people got elcetricity.
Farm Security Administration - help tenant farmers purchase farmer by providing loans teached women to cook and raise children eastablished a health insurance organization. Believe that tenate farmers were the cause of rural poverty tried to relocated farmers to the city.
factory workers/labor-codes of fair competition blue eagle
young people
Civilian Conservation Corps- FDR promised that the CCC would provide meals housing uniforms and small wages working in forests and government properties to 250,000 young men. 300 possiple lines of work. Sunctructions imporvements transportation erosion control flood control forest culture forest protectuion landscape range wildlife and miscellanoues. Payed $30 per month most was sent back to families. Run by military
banks/business-national recovery administration June 16 1933. NRA developed an industrial code system that would exert contraols over industrial pricing, production, trade practices, and labor relations.Codes of fair competitions allowed industry heads to set price floors. Blue eagle means that they are treating their employees fairly and they price fairly and they do their part.
100 days-first 100 days of FDR's presidency. He passed 15 bills. Emerency banking act he could colse banks and reopen them so they are strong. National Industrial Recoveryh Act. Civilan Conservattuon Corps Agricultural Adjustment Act- pay farmers not to plant crops.
Federal Food,Drug and Cosmetic act-inspired by an accident in which 100 patients died because they mixed a solvent with antibiotics and it killed alot of people 1938 when it started.
Banking Act of 1935-Ferderal Deposit INsurance Corporation along with the Banking Act of 1935 the government decided to make the FDIC a perment organization. 26 banks failed under the FDIC in 1935 you can insure up to $250,000 in a bank insured by FDIC
home owners
elderly
Native Americans
Describe the culture of the 1930's.
Key terms:
Hundred Days
fireside chats
priming the pump
deficit spending
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