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
- 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
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- 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
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- 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
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- 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
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- 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:
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- 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
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- 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
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- trying to REFORM the financial system in order to prevent any oncoming depressions
- 1st New Deal
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- 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?
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- top three critics
- Charles Coughlin
- Charles Coughlin
-
- roman preist
- supported the new deal and soon turned against FDR
- Charles Coughlin
- 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
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- 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?
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- the US Supreme Court wasn't agreeing with his New Deal plan. he was upset by it
- why was he upset?
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- 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.
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- 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
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- thought he was trying to have more power then he should have
- Describe the culture of the 1930's(not in test)
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- folk music, musical music, pop, jazz, country and western music
- Fashion(men)
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- suits to create large torso
- shoulder pads
- matching top hates
- over coats
Key terms:
- Hundred Days
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- 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
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- 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
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- 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
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- 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) -
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- 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
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- was 44th governor of NY from 1929 - 1932
- ran for vice president in 1920
- was 32nd president. Democratic. Won 57% of the vote
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- 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
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