Last two presentations today. Then perhaps we'll do something to actually benefit my knowledge. Also assigned our next blog.Describe the cycle of the Great Depression?What was the New Deal(1st and 2nd) and it's goals(3 R's)?-Relief, Recovery, Reform. 1st (1933-35) focused on groups, banking and railroads, gave them money to restore economic prosperity. 2nd (1936-38) included Wagner Act; promoted labor unions, WPA(works progress administration); largest agency, employed 1000's of people to do public services. Social Security Act; provided federal assistance to the elderly, unemployed, widowed, disabled, etc.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?-court wouldn't pass his programs, 2/3 of justices were over 70, FDR proposed law that allowed him to appoint 6 new justices. "Court Packing Issue". Constitution states that you cannot remove justices for disagreements. Court packing opposed by many b/c they saw it as an upset of powers giving the president control over the court. FDR's proposals denied. Coincidentally, deaths and retirements allowed FDR to appoing 8 new justices in only 4 years.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; raised employment rate, spent 6 billion. Constructed bridges, dams, hospitals, schools, houses etc.-Civil Works Administration; created temporary jobs, manual labor, construction. To expensive to maintain, shut down. Lasted 6 months, employed 3% of population.-WPA, Works Projects Administration; made in hopes that it would provide jobs for unemployed. supplied 3 million with jobs such as building libraries, schools, roads, construction projects. funded buildings. Helped people interested in the Arts; writers, actors, painters, musicians.farmers-soil conservation and domestic allotment act- paid farmers to produce less goods; prevents erosion (dust bowl), share payments, planted soil-building crops. AAA named unconstitutional, government taxed food processors and ended up taxing everyone equally. Farm Security Administration.-TVA ; created jobs, reforest, improve navigability of rivers, improve farmland. Built dams; used hydroelectric power for electricity, rural people rarely got the luxury of this electricity. Construction projects. Still around today.factory workers/labor-FLSA, fair labor standard act- minimum wage, time and a half, stopped oppressive child labor. Still around today.-NLRB; encouraged healthy relationship between private-sector workers and their employees. Stop stikes, and labor problems. Still around today. Arbitrator in businesses.young people-CCC, males only.-NYA, national youth administration; helped unemployed youths, exchanged grants with highschool students and college students, unemployed put in federally funded work projects designed to give them marketable skills for the future. Basically job training. Males and females. Local people.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.-EBRA/ emergency banking relief act; law stated that any bank that doesn't have enough funds to support their clients' needs were to be shut down but the banks who were stable enough to support clients could stay open. only federal inspectors can declare if a bank is able to stay open or close. temporary solution to banks' loss of money. Bank holiday, closed all banks temporarily, FDR reassured people that when they re-opened, it would be safe to put your money in once again.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 Administration; provide steady income for workers 65 and up. Depression caused a need for old-age pensions. Funded on payroll taxes. Amended many times, disability insurance, early retirement.stock market-SEC; Securities and Exchange Commission-FSA, federal securities act; first federal regulation of stocks offers and sales. Three goals, 1. eliminate fraud, 2. to provide background informations, and 3. to provide a record of sales. Failure to abide by the new guidelines resulted in prosecution and liabilites. Tried to make stock market more truthful and reliable.Native Americans-IRA, indian reorganization act; federal legislation allowing tribes to return to self-government within their own tribes, let them manage their land and reservations. Tribes were allowed to make their own constitutions as long as they; 1. allow employment of legal counsel on tribe's council. 2. prohibit tribe's council from making any decisions regarding land without a majority vote from the tribe.. and 3. allow the tribe's council to negotiate with the U.S. government on any level. Repealed Dawes act, which broke up Native American land and allotted it to individual members of tribes and unrelated settlers. Returned land to tribes. Secretary of the Interior had to be consulted for decisions regarding Native Americans' land, which limited freedom of tribes. Thought to be unconstitutional.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 businissesdeficit 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.
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