Herbert Hoover, the Republican, was a Quaker from Iowa, orphaned at 10, who worked his way through Stanford University. He expounded nationalism and old values of success through individual hard work. Alfred E. Smith, the Democrat, was a Catholic from New York, of immigration stock and advocated social reform programs.
The president of the United States from 1929 to 1932 He was a republican who ran on a campaign of prohibition and prosperity. The early years of his presidency brought about a great deal of prosperity for the United States. Many people blamed him for the stock market crash.
Black Thursday and Black Tuesday
when the great stock market crash occurred. The crash was caused by a number of ailments: the decline of agriculture, the unregulated trade within the process of buying stocks, and the panic which led to bank foreclosures all over the United States.
Sect. of Treasury, Andrew Mellon
He was the Secretary of the Treasury during the 1920s and under Harding that had the theory that high taxes forced the rich to invest in tax-exempt securities rather than in factories that provided prosperous payrolls. He had followers in his theory called Mellonites. He helped engineer a series of tax reductions and reduced national debt by $10 billion. He was accused of indirectly encouraging the bull market and starting the descent into the stock market crash. Some people, however, believed he was the "greatest secretary of treasury since Hamilton." He used "trickle-down" economics.
the central banking system of the United States. It was created in 1913 with the enactment of the ___________ Act, largely in response to a series of financial panics, particularly a severe panic in 1907
Hawley-Smoot Tariff (1930)
Began as a protective measure to assist farmers, but turned out to be the highest protective tariff in the nation's peace time history. It raised the duty on goods from 38.5 percent to 60 percent in 1930. It killed international commerce and was a cause of the Great Depression.
an American sex educator, birth control activist and the founder of the American Birth Control League.
Reconstruction Finance Corporation (RFC)
Created in 1932 to make loans to banks, insurance companies, and railroads, it was intended to provide emergency funds to help businesses overcome the effects of the Depression. It was later used to finance wartime projects during WW II.
"Priming the pump"
Government action taken to stimulate the economy, as spending money in the commercial sector, cutting taxes, or reducing interest rates. Roosevelt believed this was the only way to recover from the Great Depression. Supported by Roosevelt, this theory pumped governmental money to the poor so they could buy products. This would increase sales and cause a demand for that product. This demand in turn will produce jobs for the poor. Now that the poor have jobs they have the necessary income to buy products and this cycle occurs again.
The ideal quality which every American should possess, "_______________" meant people who were self made individuals, who could handle the pressures given by a damaged society, and who would rise above them in order to succeed. These ideas were encompassed in Hoover's book.
Farm Holiday Association
a movement of Midwestern United States farmers who, during the Great Depression, endorsed the withholding of farm products from the market, in essence creating a farmers' strike. The group urged farmers to declare a "holiday" from farming, with a slogan of "Stay at Home-Buy Nothing-Sell Nothing" and "Lets call a Farmer's Holiday, a Holiday let's hold. We'll eat our wheat and ham and eggs, And let them eat their gold."
Farmers went to extreme measures to ensure that their wants were carried through.
A group of almost 20,000 World War I veterans who were hard-hit victims of the depression, who wanted what the government owed them for their services and "saving" democracy. They marched to Washington and set up public camps and erected shacks on vacant lots. They tried to intimidate Congress into paying them, but Hoover had them removed by the army, which shed a negative light on Hoover.
This said that the United States would not recognize any territorial acqusitions that were taken over by force. (This doctrine is related to Japanese aggression in Manchuria in 1931)
Franklin Delano Roosevelt
governor of NY -- 5th cousin to Theodore Roosevelt --- wealthy family -- went to Harvard -- served as secretery of the navy -- was suave and conciliatory -- handicapped --came up with New Deal --- elected as a democrat President in 1932 --elected 4 times (only one to do so) --dealt with Great Depression and WWII
Democrat Franklin D. Roosevelt, beat the Republican, Herbert Hoover, who was running for reelection. FDR promised relief for the unemployed, help for farmers, and a balanced budget.
During the first hundred days of Franklin Roosevelt's first term in office Roosevelt held informal radio conversations every so often that were dubbed "_____________." The topic discussed was the economy that had been plagued by the depression, and the means that were going to be taken in order to revive it.
Franklin Roosevelt in 1932 called for a "___________ which permitted banks that were hurt from the depression to close down for a few days in order to regain stability. Further help to relieve the problem of the foreclosing of banks was the Emergency Banking Act which was passed during the holiday to help open more banks.
the first woman to be appointed to a Cabinet position (1933-1945), ______ was also a social reformer. During her term, _______ strengthened the Department of Labor, pushed for a limit on employment age, and developed the CCC, the Social Security Act, and Fair Labor Standards Act (1938).
refers to the individual people outside the Franklin Roosevelt appointed presidential cabinet that helped in the decision making process of the president. The men most known are: Raymond Moley, Rexford Tugwell, and Adolph A. Berle. Moley was conservative while Tugwell and Berle were interested in reform.
The Hundred Days
Measures taken during Roosevelt's first days in office, from Mar 9 to Jun 16, enabled FDR to pass acts critical to stabilizing the economy. The ___________ symbolized the beginning stages of the New Deal because the measures taken focused on relief, recovery and reform: key phrases from the New Deal itself.
establishes the beginning and ending of the terms of the elected federal offices. It also deals with scenarios in which there is no President-elect. Ratified on January 23, 1933. Dealt with the problem of the lame "lame-duck" president, a large gap between when presidents were elected and when they went into office. Also referred to Congress.
repealed the Eighteenth Amendment to the United States Constitution, which had mandated nationwide Prohibition. It was ratified on December 5, 1933.
Schechter v. United States (sick chicken case)
May, 1935 - The U.S. Supreme Court declared the National Industrial Recovery Act unconstitutional. It held that Condress had improperly delegated legislative authority to the National Industrial Recovery Administration and that the federal government had exceeded its jurisduction because _______ was not engaged in interstate commerce.
developed the ________ Plan in 1933 which embraced 5 million supporters. It called for a pension for citizens over 60 years of age to receive $200 provided by the federal government. Although Congress rejected it, ________'s ideals were an early foundation of the Social Security Act.
Father Charles Coughlin
used his status as a U.S. Roman Catholic "radio priest" to announce his political and economic views. He asserted reactionary views and revolved around anti-New Deal and ant-Semitic views. In addition, he created the magazine Social Justice which attacked Communism, Wall Street, and Jews.