- Describe the cycle of the Great Depression?
Businesses don't make money---> People loose jobs ----> No one buys goods
What was the New Deal(1st and 2nd) and it's goals(3 R's)?
-Relief, Recovery, Reform.
- First and Second New Deal
1st New Deal focused on groups and businesses, like banking, railroads etc.
2nd New Deal included Wagner Act, APA, Social Security Act (helping poor people) and provided thousand of people with jobs to do public service.. helped elderly, widowed, disabled etc. (helped individuals)
- Why did people criticize the New Deal?
-Republicans. spending way too much money. bringing communism into our country. wanted laissez faire. some acts unconstitutional.
Why was FDR upset with the US Supreme Court and what did he do to try to solve this issue?
They didn't support him, and ruled some of his policies unconstituional. He tried to get support to add 6 more judges to come to 15, or revoke the placement of the 9. But congress said NO. But later, a lot of them died (assassination??) so he got to appoint them anyways.
How did the New Deal help:
- unemployed
-Civilian Conservation Corps. Federal Emergency Relief Administration;loans given to states to operate relief pumps. Created factories with this money, supplied jobs. Relieved unemployment. Unemployment still existed, public welfare not good, FERA terminated and replaced by WPA and SSA.
-PWA, public works administration, hired people to do public services, such as construction projects or even environmental work.
- WPA(works progress administration); largest agency, employed 1000's of people to do public services.
-TVA, Tennesee Valley Administration build hundreds of dams to increase river trade and provide electricity to the urban areas of Tennesee. Still in business, largest electric company in the country.
- farmers
-soil conservation and domestic allotment act- paid farmers to produce less goods; prevents erosion (dust bowl), share payments, planted soil-building crops.
-AAA, paid farmers to plant less, so the surplus of crops would go down, and the crops would then have a greater value.
-Farm Securites Administration, The FSA stressed "rural rehabilitation" efforts to improve the lifestyle of sharecroppers, tenants, and very poor landowning farmers, and a program to purchase submarginal land owned by poor farmers and resettle them in group farms on land more suitable for efficient farming
- factory workers/labor
-Wagner Act; promoted labor unions
NRA/NIRA-being fair and good to workers and consumersFDC-gave more power to inspect goods such as food and cosmetics etc.
FLSA-led to child labor laws, time and a half, and minimum wage
NLRB-encouraged healthly relationship between private-sector workers and their employuers.. tried to eliminate strikes, work stoppages, and general labor problems (arbitrator)
Fair Labor Standards Acts (min. wage, time&1/2, stopped oppressive child labor),
- young people
-CCC, gave jobs to unemoployed young men.. planted 3 million trees.
-NYA-exchanged grants with high school and college kids and for people who weren't in school.. they were put in federally funded work projects designed to give the youth marketable skills for the future.. helped many youth to get jobs, learn helpful skills and trades, and put focus on defense-related industries.. employed females as well as males.. didn't go far.. stayed in local area
National Youth Administration (grants for hs/college kids, federally funded work projects to get skills for unemployed youth)
- banks/business
-Food, Drug, and Cosmetic Act; gave more power to federal government to inspect goods. FDA- inspects food. Banking Act; made Federal Reserve Board of governors stronger. Tightened restrictions on banks. Strenghtened banks, made FDIC permanent.
- home owners
-HOLC sold bonds and lengthened loans so people could keep their homes. Prevent foreclosure. Ended when bankroll stopped rolling.
-USHA united states housing authority; lend money to states and communities for construction, for poor and non-wealthy citizens, was thought to bring social order and peace. Built shelters and homes, affordable for everyday people. Helped poor or middle class people get loans to pay for homes.
-Federal Housing Administration. Still around, department of housing and urban development. Part of National Housing Act, improve standards of housing to make the mortgage market more stable. Banks failed, loans decreased, no money to pay for house, houses foreclosed, banks had houses. FHA provided insurance in case banks closed so people wouldn't be stuck with no form of money. Gave loans to poor people.
- elderly
-Social Security
- Native Americans
The IRA, Indian Reorganization Act, allowed Native Americans to return to their lands and govern themselves. The Dawes act was repealed and is still around today.
Describe the culture of the 1930's.
Key terms:
Hundred Days:
-FDR's first 100 days as president. March 9-June 16 1933. People wanted action fast, passed several programs to help rebuild the economy. His 'New Deal'. He met with Congress every day and 15 new pieces of legislature added. Emergency Banking Relief Act allowed government to inspect banks and close banks if they were too weak or in debt. Glass-Steagall Act insured bank customer's money up to 5,000. Allowed a bill to produce some alcohol for the first time since Prohibition.
fireside chats:
-radios, families listened together. FDR spoke on the radio and reassured families of all the new things he was doing to help out the economy.
priming the pump:
-providing help to public by spending money and helping start back up businisses
deficit spending:
-spending money we dont have, digging us further and further into debt in an effort to start up businesses. Positives; stimulate economy, benefit public investment, increase ability to supply output in the long run. Negatives; need to be paid back by future generations, take money away from later needs, increase interest rates
Chapter 14
1. Causes of the Stock Market Crash
Buying on margin, fraud, overloading the market
2. Causes of the Great Depression
3. Describe the problems that people had in the cities and the rural area.
Cities---people starved, couldn't find jobs. Rural---tough argricultural conditions, no market for crops.
4. Describe what Hoover did to help with the Great Depression.
Hoover Dam
5. What made Hoover so unpopular during his presidency
Thought of as uncaring, didn't do much for the people---didn't beleive in handouts.
Chapter 15
1.Describe the cycle of the Great Depression?
2.What was the New Deal(1st and 2nd) and it's goals(3 R's)?
1st focused on spending and stabalizing GROUPS, the 2nd focused on the individual.
3.Why did people criticize the New Deal?
FDR spent a lot of money, on many programs that didn't work or would not last long. The people wanted laissez-faire. Created a very powerful president (violatation of checks and balances). Some acts appeared unconstitutional (NIRA, AAA) and interfered too much
4.Why was FDR upset with the US Supreme Court and what did he do to try to solve this issue?
They ruled many of his parts of the second new deal unconstitutional. He wanted to appoint 6 younger justices, but under the constitution he couldn't remove them.
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