We will start watching movie makers this week.
Herbert Hoovers Background- Born in West-branch, Iowa. His parents died when he was a young kid, he went to Stanford college. First job was mining.
Hoover Fight Against the Great Depression- Encouraged people to be patient. Federal Farm Board- promote the sale of agricultural products.
Civilian Conservation Corps- Passed in 1933 during the "One Hundred Days' CCC members worked 40 hours a week and were paid $30 a month, with the requirement that $25 of that be sent home to family. Members lived in camps, wore uniforms, and lived under military discipline. The U.S. Army operated the camps.
NYA-Established in 1935, and was apart of the WPA. Allowed kids to stay in school.
PWA- Created many jobs as possible in many different varieties.
NIRA-Established codes of fair competition aimed at supporting prices and wages and stimulating economic recovery from the Great Depression.
AAA- Established in 1933. Restricted production the New Deal by paying farmers to reduce the amount of crops planted. It's purpose was to reduce crop surplus so prices would go up.
HOLC- Home Owner's Loan Corporation- The typical home loan in 1930 required a 50% down payment and had to be paid off within 5-7 years at an interest rate of 6 to 9 percent. Buyers paid the entire interest charge at the end of the payback period in a single balloon payment. Often they had to take out a second mortgage, at rates of up to 18% just to cover this final payment.
FHA- Federal Housing Administration- Was created in 1934. Insured loans made by banks and other private lenders for home building and home buying.
USHA-Created in 1937. To lend money to the states or communities for low-cost home construction. Homes were designed for low-income and homeless people.
Social Security- Created in 1935. Provides retirement, disability, and survivors benefits.
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