Ch. 15 Test Topics
Describe the cycle of the Great Depression?
What was the New Deal(1st and 2nd) and it's goals(3 R's)?
-Roosevelts plan to help us out of the Depression
-Relief-Reform-Recovery
-Dealt with banking,railroads,and farming
-The Brain Trust came up with new deal-Advisors to Roosevelt
-bank holiday to help them recover
-Acts:Wagner Act-WPA-Social Security Act
-1st focused on getting out of depression and economic recovery-helped big business and banks-top down
-2nd-bottom up-help individual people more-people buy products to help businesses
3 R's:
-Relief-immediate action taken tostop the economy crashing-relief to the people-welfare checks,job opportunities.
-Reform-Prgrams to avoid another depression and insure citizens against economic disasters
-reform banks and stock markets
-Recovery-Temporary prgrams to restart the flow of consumer demand
Why did people criticize the New Deal?
-Failed to end the Great Depression
-Deficet spending increased
-too much gov. regulation
-Many disagreed with social welfare prgrams
-socialist economy-gov.controls businesses
-free market-seperation of powers
-huey long and charles coughlin didn't like roosevelt b/c he wasn't doing enough to help people
-Francis Townsend's plan-old age pention and give younger workers jobs
Why was FDR upset with the US Supreme Court and what did he do to try to solve this issue?
-Supreme court thought New Deal was uncostitutional
-Roosevelt proposed adding 6 more judges to expand Supreme Court
-All judges would be in favor of new deal
How did the New Deal help:
unemployed:
-CivilianConservationCorporation:
-gave jobs to men 18-25
-provided unskilled manual labor jobs related to conservation and development of natural resources in rural lands owned by federal, state and local gov.
-supplied a possible of 300 jobs
-strucutural improvements,transportation,erosion control,flood control,forest culture,forest protection,range,wildlife.
-Sucess:
-msot successful prgram in the new deal
-provided financial relief
-provdided conervation projects
-WWII-Depression ended
-ran by U.S army
CIVIL WORKS ADMINISTRATION:
-created under FERA
-built buildings,bridges,and playgrounds
-12 million ft of sewer pipe
255,000 miles of road
-40,000 schools
-3,700 playgrounds
-1,000 airports
-250,000 outhouses
-Ended March 31st
-Spend $200 million per month created over $4 million jobs
WPA:
Works progress administration:
-Biggest and most ambitious New Deal project
-built buildings and roads
-operated arts,drama,media,and literacy projects
-budget $1.4 billion
-provided milions of jobs -spent $13.4 billion
farmers
factory workers/labor
young people:
National Youth Administration:
- Provides work training based on citizenship and financial need for youth 16-25
-Offered courses in reading,writingm and arithmetic
-train unemployed out of school youth
-Successful for a while
-with war approaching jobs were switched to war work
-ceased in 1943
-found useless, unimportant, and expensive
-encouraged youth to train for jobs
banks/business:
RFC:
-estabilished in desire to lend money to banks,railroads,and other key economic institutions to make sure these institutions would remain in business.
-rfc borrowed money from treasury fundes
-Congress provided agency with starting amount of $5OO million
-Emergency relief and construction Act enlarge RFC's power to allow for loans to state gov. and farm agencies.
-RFC never had intended impact
-It gave states loans in emergency relief.
-Many loans were given out to banks
-Publicaton of the loaning from the RFC reduced effectiveness of lending to banks.
-Glass Steagall Act-prohibits commercial banks from engaging in the investment business
-Started b/c of bank failure
-Helped public believe in banks again
-Repealed in 1999
Emergency Banking Relief Act:
-Established in 1933
-First Act passed in FDR's New Deal
-Allows president to take over non finacially stable banks and direct the Federal Reserve to make unsecure loans to them and reopen when he wants.
-Allows banks to stay open and do business as normal
-Loan money to customers who normally would have been denied loans
-Made lower income people happy
-Banks were still running and not shut down
-Temporary Act
-once problems were fixed it was no longer in use
The Federal Securities Act:
-Security- stocks
-purpose was to ensure that buyers of securities receive complete and accurate information before they invest.
-prospectous-company tells truth
Describe the cycle of the Great Depression?
What was the New Deal(1st and 2nd) and it's goals(3 R's)?
-Roosevelts plan to help us out of the Depression
-Relief-Reform-Recovery
-Dealt with banking,railroads,and farming
-The Brain Trust came up with new deal-Advisors to Roosevelt
-bank holiday to help them recover
-Acts:Wagner Act-WPA-Social Security Act
-1st focused on getting out of depression and economic recovery-helped big business and banks-top down
-2nd-bottom up-help individual people more-people buy products to help businesses
3 R's:
-Relief-immediate action taken tostop the economy crashing-relief to the people-welfare checks,job opportunities.
-Reform-Prgrams to avoid another depression and insure citizens against economic disasters
-reform banks and stock markets
-Recovery-Temporary prgrams to restart the flow of consumer demand
Why did people criticize the New Deal?
-Failed to end the Great Depression
-Deficet spending increased
-too much gov. regulation
-Many disagreed with social welfare prgrams
-socialist economy-gov.controls businesses
-free market-seperation of powers
-huey long and charles coughlin didn't like roosevelt b/c he wasn't doing enough to help people
-Francis Townsend's plan-old age pention and give younger workers jobs
Why was FDR upset with the US Supreme Court and what did he do to try to solve this issue?
-Supreme court thought New Deal was uncostitutional
-Roosevelt proposed adding 6 more judges to expand Supreme Court
-All judges would be in favor of new deal
How did the New Deal help:
unemployed:
-CivilianConservationCorporation:
-gave jobs to men 18-25
-provided unskilled manual labor jobs related to conservation and development of natural resources in rural lands owned by federal, state and local gov.
-supplied a possible of 300 jobs
-strucutural improvements,transportation,erosion control,flood control,forest culture,forest protection,range,wildlife.
-Sucess:
-msot successful prgram in the new deal
-provided financial relief
-provdided conervation projects
-WWII-Depression ended
-ran by U.S army
CIVIL WORKS ADMINISTRATION:
-created under FERA
-built buildings,bridges,and playgrounds
-12 million ft of sewer pipe
255,000 miles of road
-40,000 schools
-3,700 playgrounds
-1,000 airports
-250,000 outhouses
-Ended March 31st
-Spend $200 million per month created over $4 million jobs
WPA:
Works progress administration:
-Biggest and most ambitious New Deal project
-built buildings and roads
-operated arts,drama,media,and literacy projects
-budget $1.4 billion
-provided milions of jobs -spent $13.4 billion
farmers
factory workers/labor
young people:
National Youth Administration:
- Provides work training based on citizenship and financial need for youth 16-25
-Offered courses in reading,writingm and arithmetic
-train unemployed out of school youth
-Successful for a while
-with war approaching jobs were switched to war work
-ceased in 1943
-found useless, unimportant, and expensive
-encouraged youth to train for jobs
banks/business:
RFC:
-estabilished in desire to lend money to banks,railroads,and other key economic institutions to make sure these institutions would remain in business.
-rfc borrowed money from treasury fundes
-Congress provided agency with starting amount of $5OO million
-Emergency relief and construction Act enlarge RFC's power to allow for loans to state gov. and farm agencies.
-RFC never had intended impact
-It gave states loans in emergency relief.
-Many loans were given out to banks
-Publicaton of the loaning from the RFC reduced effectiveness of lending to banks.
-Glass Steagall Act-prohibits commercial banks from engaging in the investment business
-Started b/c of bank failure
-Helped public believe in banks again
-Repealed in 1999
Emergency Banking Relief Act:
-Established in 1933
-First Act passed in FDR's New Deal
-Allows president to take over non finacially stable banks and direct the Federal Reserve to make unsecure loans to them and reopen when he wants.
-Allows banks to stay open and do business as normal
-Loan money to customers who normally would have been denied loans
-Made lower income people happy
-Banks were still running and not shut down
-Temporary Act
-once problems were fixed it was no longer in use
The Federal Securities Act:
-Security- stocks
-purpose was to ensure that buyers of securities receive complete and accurate information before they invest.
-prospectous-company tells truth
Federal Deposit Insurance Corporation:
-created by the glass steagal act
-Since 1934 no one has lost funds
National Recovery Administration
-primary New Deal agency
-goal: bring industry,labor and gov togehter to make rules and set prices
-created by NIRA
-Reduce destructive competition
-Set minimum wages and weekly work hours
-40 hour work week
-36 hour for industrial workers
-affected over 22 million workers in U.S
-It abolished child labor
-Trade unions could organize
-excercised the right of collective bargaining
-Didn't help small businesses as much
-helped improve labor conditions
-Declared unconstitutional
Banking Act of 1935:
-Estabilished FDIC as a permanent gov. corporation
-permitted FDIC authority to provide deposit insurance to banks
-Gave FDIC authority to regulate and supervise state non member banks
-Extended federal oversight to all commercial banks for the first time
-seperated commcercial and investment banking
-Prohibited banks from payhing interest on checking accounts
-Allowed national banks to branch statewide if allowed by state law
-FDIC is still around and operating today
home owners
elderly:
-Social Security Administration(SSA)
Native Americans
-Indian reorganization act-secured the new rights of native americans by giving them right to manage their own land
-helped get goo economic foundation
-replaced Dawes Act
-Dawes Act-authorized hte president tribal land and divide i for individual indians
-Americanize Indians
-NA could have separate gov. and not need to have the same laws
Describe the culture of the 1930's.
Music/Movies:
-musical movies were popular
-Wizard of Oz-direcotr Victor Fleming
-horror movies were popular:Dracula, Frankenstien,The mummy
Music:
-hillbilly music was popularized
-swing dancing, jitterbugs-Big Bands
Key terms:
Hundred Days
-Roosevelt made series of social,economic,and job-creating bills
-15 major bills passed in first 100 days
fireside chats:
-Series of radio broadcasts from Roosevelt
-First one in 1929
Defecit Spending:
-Spending money that you don't have
-In order to support relief prgrams we needed to spend more money
Priming the Pump:
-pump money into the economy
home owners
elderly:
-Social Security Administration(SSA)
Native Americans
-Indian reorganization act-secured the new rights of native americans by giving them right to manage their own land
-helped get goo economic foundation
-replaced Dawes Act
-Dawes Act-authorized hte president tribal land and divide i for individual indians
-Americanize Indians
-NA could have separate gov. and not need to have the same laws
Describe the culture of the 1930's.
Music/Movies:
-musical movies were popular
-Wizard of Oz-direcotr Victor Fleming
-horror movies were popular:Dracula, Frankenstien,The mummy
Music:
-hillbilly music was popularized
-swing dancing, jitterbugs-Big Bands
Key terms:
Hundred Days
-Roosevelt made series of social,economic,and job-creating bills
-15 major bills passed in first 100 days
fireside chats:
-Series of radio broadcasts from Roosevelt
-First one in 1929
Defecit Spending:
-Spending money that you don't have
-In order to support relief prgrams we needed to spend more money
Priming the Pump:
-pump money into the economy
FD & C:food drug and cosmetics act
-Gave FDA the athority to oversee the safety of food,drugs,and cosmetics
-Chemicals that weren't natural had to go through testing to make sure they were safe
-food additive requires a premarket approval by FDA
-Act defines cosmetics as cleansing or beautifying
-FD & C is still part of FDA today
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