Thursday 2.2 Part 1

Ch. 15 Test Topics:

Describe the cycle of the Great Depression?

How did the New Deal help:

unemployed
farmers
factory workers/labor
young people
banks/business
home owners
elderly
Native Americans- the Indian Reorganization Act(IDA) allowed them to use their culture and tradition

Fair Labor Standards Act (factory workers)
- enacted in 1938
- gave workers good conditions and more respect
- set limits for minimum wage and hours to work
- has been adjusted now for current working conditions in the work place
- workers now have the right to be treated equally when applying for a promotion
- employees can get fired for whatever reason back in the depression
- - mostly for race, religion, and sex
Social Security Administration (elderly)
- signed by president on August 14, 1935
- consisted of retirement, disability, and survivors benefits
- to qualify you must pay social security
- everyone gets a social security #
- - some work money goes into social security account
  - - have to do that
- gives money to the elderly
- saved the elderly's lives
The United States Housing
- created in 1937 to give money to the states and to give the less fortunate the opportunity to be able to buy or rent a house or apartment
- one successful project so they believe that they could do it once again
- - first operation was so successful that they had helped over 650,000 people of low income
- they constructed houses specifically for low income families
NLRB(factories)
- a federal corporation that was designed to conduct elections for labor union representation and also finding an answer to the unfair labor practices
- it has only a 5 person board of directors who are all appointed by the president along with the approval of the senate
- governed by General Counsel
- - there are only 5 because it limits any type of scandals and allows the finger to be pointed at someone
Home Owner's Loan Corporation
- was to refinance homes to prevent foreclosure(bank takes over home because family can't pay for home)
- refinanced people's mortgages to long term and fully amortized loans
- the typical length of the new loans were between 20 and 25 years
- the HOLC helped over 1 million people keep their homes and not have to foreclose.
- was successful
- - it helped people not have to foreclose their homes
- not around today. sold its last assets in 1952
- the reason it isn't still around today is because they weren't turning a profit.
Federal Housing Administration (helps people get loans)
- passed in 1934 by Congress
- creates insurance on mortgage loans created by FHA approved lenders
- provides insurance on mortgage loans on single family homes and multiple family homes in the US
- was successful
- was around until 1965. then it joined the Department of Housing and Urban Development
- the FHA and the HUD have insured over 34 million home mortgages
- the reason it ended was because they wanted to make a better Department of Housing
National Youth Association (young people)
- provided work for American men 16-25
- started in 1935 started by Aubrey Williams
- very successful
- payed for schooling for the boys and in return they had to work part time
- types of jobs:
- - construction, teaching classes (boxing, auto mechanics)
- still kind of around today. It's called the Youth Of Today
- they still lived at home with families
Work Progress Administration
- 3.4 million people had jobs because of WPA
- 2 million got jobs every year for 8 years
- the men thought it was unfair for women to get jobs because women should stay at home. so only 12% of women had jobs
- bridges and buildings were made that are still used today
- main job was construction projects
Rural Electrification Administration
- created under Roosevelt
- created to promote rural electrification
- was created on the belief of creating cheap electricity for the people
- some people opposed it because they didn't wanted gov't involvement in rural electrification
- some thought it hurt private businesses
- thought it was going to hurt the economy
- 288,000 households were provided with electricity through the REA in 1939
- it provided farmers electricity this cause them to buy electric goods which helped local merchants
- created cheap electrification
- not around today, changed to some other organization. so kind of around
Farm Security Administration
- Gave loans to farmers who could not get them anywhere else
- provided a healthcare plan for those who participated with them
- also promoted educational courses for the farmers to get better crops and educate them
- took pictures of poor farmers and farms so they could document it
- provided educational info (the pictures)
- started in 1935
- ended in 1944
- the average loan amount was $5,000
- $473 million dollars in loans were given out nationwide in 1937 to mid 1941 and 122,375,000 dollars in grants were given out
- educated 455,000 farm families
- tried to decrease production to raise price of crops and goods
- helped poor farmers buy land(then known as gov't land, not their own land)
- - Resettlement Plan-they would actually be working on gov't land, they became workers for the gov't
  - - people thought it was communist
    - didn't last long, and people wanted to own their own farms
Soil Conservation and Domestic Allotment Act
- is a US federal law that allowed the gov't to pay farmers to reduce production to prevent soil erosion
- the point of it was to conserve soil so land doesn't erode
- this act made it so farmers are forced to recommend the repercussions of using their land without care
- before this act the farmers would allow their soil to be vulnerable to wind causing "black storms" (they didn't do crop rotation, they didn't plant trees)
Tennessee Valley Authority
- is a federally owned corporation in the US created by congressional charter in May 1933 to provide navigation, flood control, electricity generation, fertilizer manufacturing, and economic development in the Tennessee Valley.
- Tennessee Valley is a region particularly affected by the Great Depression
- today the TVA is the largest public power company, providing electric power to over nine million customers in the Tennessee Valley
Agricultural Adjustment Act
- Lower crops surplus and the value of crops to rise
- Passed in 1933 and enacted in 1938
- The gov’t paid a sum of money to not plant part of their farmland
- Agricultural Adjustment Administration
- In 1945, it because the Production and Marketing Administration
Food, Drug and Cosmetic Act (FDC) and Agricultural Adjustment Act
- Passed in 1938
- It gave the authority to overlook the production of good, drugs and cosmetics
- Outlines a suggested lax enforcement (was not enforced very helpfully)
- Started because someone made Elixit Sulfanilamide killed at elast 10 patients
Securities and Exchange Commission (SEC) (stock market/banks)
- It’s a gov’t commission created in 1934, by Congress to regulate and watch over the securities markets (the stock market) and protect investors
- The SEC is composed of five commissioners appointed by the US President and approved by the Senate
- Includes the power to register, regulate, and oversee brokerage firms, transfer agents, and clearing agencies
- They “protected” the New York Stock Exchange, and American Stock Exchange
- The act identifies and prohibits certain types of conduct in the markets and provides the Commission with disciplinary powers over regulated entities and persons associated with them.
- Companies with more than $10 million in assets whose securities are held by more than 500 owners must file annual and other periodic reports
- The securities laws broadly prohibit fraudulent activities of any kind in connection with the offer, purchase, or sale of securities
- The securities and exchange commission today charged Daniel Ruettiger and 23 other participants in a scheme to deceive investors into buying stock in his sports drink company
Banking Act of 1935
- Was created in August 23, 1935
- It strengthened the Federal Reserve Board
- Tightened existing restrictions on banks engaging in certain activities, and enlarged the supervisory powers of the FDIC
- In 1933, the Federal Deposit Insurance Corporation (FDIC) was initially established by the Banking Act

NIRA (national industrial recovery act) and NRA
- Made codes of fair competition for industry
- Gave $3.3 billion to public works projects
- Amended the Emergency Relief and Construction Act
- NRA –let people that had businesses get together and set their prices
- Set shorter hours so more people could work
- About 23,000,000 workers worked under the fair code in 1934.
- NRA was said to be unconstitutional
- Supposed to be a state thing
- Ended in 1935
FDIC
- Adopted in 1933
- The banks that failed right before 1933 were supposed to strengthen the banking system.
- Is an independent agency insure most of your money that is in a DDIC insure banks.
- If a bank failed the corporation would pay all the people that had money in that up to a certain amount
- Today you would get $250 thousand back I think
Public Works Administration
- Passed 1933
- Constructed projects paid for by public funds and they were constructed by the gov’t for the use of the public.
- Spent 7$7 billion on constructing more hobs, maintaining purchasing powers, and improving public welfare
- Helped construct more than 34,000 projects
- - Airports, electricity generating dams, air craft carriers, 1/3 new hospital
  - Gave the gov’t the first network of distributing funds to local districts
  - Later became unrelated to what was going on and was abolished in June 1941.
  - Civil Works Administration
  - Made construction projects
  - Built 12 million feet of sewer pipes
  - Built or made things better (40,00 school, over 255,000 roads, 3700 playgrounds, almost 1,000 airports
  - Paid people a lot of money to do construction
  - Kind of successful, but not really. cost a lot of money though
  - Ended march 1934

Civilian Conservation Corps
- the CCC was also known as the Emergency Conservation Work Act
- operated from 1933 to 1942
- provided jobs for men in relief families (age 18-25)
- 2.5 million men enrolled in just 9 years
- pay for working was $30 a month
- led greater public awareness and greater appreciation for the outdoors
- planted about 300,000 trees
- made other programs for veterans and Native Americans
- by 1942 with the draft in operation it was voted to close the program because things were back on their feet
- Reconstruction Finance Corporation
- - was establish during the Hoover administration
  - during the first 13 months only worked on giving loans to banks
  - expanded Roosevelt's New Deal
  - was an independent agency
  - modeled after the war finance corporation
  - gave $2 billion to state and local gov'ts
  - played a really big role in the Great Depression
  - Federal Emergency Relief Act
  - - enacted in 1933
    - main function was to create the Federal Emergency Relief Administration
    - FERA distributed more than 20 million dollars in direct aid to the unemployed (wellfare)
    - this in turn would help the unemployed to find new jobs.
    - FERA had 3 primary objectives:
    - - direct relief measure
      - provide work for employable people
      - provide many different types of relief programs
was the start of the welfare system
direct relief for people

What was the New Deal(1st and 2nd) and it's goals(3 R's)?

goals of the 3 R's
- Relief
- - they were trying to RELIEVE the unemployed, poor, homeless, and all in all vulnerable people.
Recovery
- attempting to RECOVER our economy in order to get it back to normal. Went from breadlines to fast food places
Reform
- trying to REFORM the financial system in order to prevent any oncoming depressions
- 1st New Deal
- - passed in 1933
  - lasted until 1934
  - worked at fixing the economy from top to bottom(help businesses first)
  - mostly based off the trickle down theory. this is where the gov't pours money into businesses in order to stabilize buying and selling, and go forward to help our economy
  - it helped from banks to farms and many more
  - 2nd New Deal
  - - in effect from 1934-1936
    - focused on restoring our economy from bottom to top(help individual people. give em SS)
    - this meant that they tried to turn non-consumer to consumer again- in order to help the businesses and when the businesses succeed, so does the gov't
    - Why did people criticize the New Deal?
    - - top three critics
      - Charles Coughlin
        Charles Coughlin
        
        roman preist
        supported the new deal and soon turned against FDR
- Dr. Francis Townsend
- - Physician and health officer in long Beach cali.
  - Believed FDR was not doing enough to help the poor and elderly
  - made a plan to benitit the elderly
- Huey Long
- - senator of louisiana
  - supported of the new deal
  - alos turned against FDR
  - was eager to win presidency for himself
- They cared about things that mattered to the poo
- Why was FDR upset with the US Supreme Court and what did he do to try to solve this issue?
- - the US Supreme Court wasn't agreeing with his New Deal plan. he was upset by it
  - why was he upset?
  - - he felt like it was keeping the economy back and not helping it become better
congress wouldn't allow the number of justices to be increased.
- he thought they should hire one new justice for every justice person that was over 70. would've went from 9 to 15
FDR was criticized for trying to undermine the independence of the court
- thought he was trying to have more power then he should have

Describe the culture of the 1930's(not in test)
- folk music, musical music, pop, jazz, country and western music
- Fashion(men)
- - suits to create large torso
  - shoulder pads
  - matching top hates
  - over coats

Key terms:

Hundred Days
- the time where the president's seem to be the most efficient. FDR blew the roof on this.
- hundred days of the new deal
- fireside chats
- - FDR broadcasting on the radio telling people to have faith and believe in the new deal and that banks would do better
  - became popular-people started listening to the radio more. so radio stations did better
  - continued til 1940's until their attention turned to WWII
  - priming the pump
  - - pump from a well, nothing would come out
    - great depression related.
    - try to help things move along and see if it would help or not...
    - jump start the economy
    - deficit spending
    - - gov't spending more and owing more than they collected in taxes
      - they kept spending more money, and then they'd owe another country money
      - they thought deficit spending would get us out of the depression (kinda like priming the pump)
      - Indian Reorganization Act (IRA) -
      - gave land back to the tribes so they could run their own land again
        allowed Native Americans to use their tribes
        it allowed Indians to use their culture and tradition.
        replaced the Dawes Act (tried to Americanize the Native Americans)
        was established in 1934
        another name for this act is the Wheeler-Howard Act
        established June 18, 1934
        leader was John Collier
        the act was doing more harm that good to the natives(it was too little too late)
        in 1936 was when Alaska tribes were added to the act
        FDR's Background
        FDR before presidency
        
        born Jan 30, 1882.
        went to high school at Groton Boarding School
        Went to Harvard College
        Was married to his wife ELeanor on March 17, 1905, had 6 kids
        other professions
        
        was 44th governor of NY from 1929 - 1932
        ran for vice president in 1920
        was 32nd president. Democratic. Won 57% of the vote
        
        was in office from March 14, 1933 to April 12, 1945
        was in office during the Great Depression
        our only president to have polio and to be in a wheelchair

Blogs

Thursday 2.2 Part 1

Comments