the historic period (1933-1940) in the U.S. during which President Franklin Roosevelt's economic policies were implemented
All the banks were ordered to close until new laws could be passed. An emergency banking law was rushed through Congress. The law set up new ways for the federal government to funnel money to troubled banks It also required the Treasury Department to inspect banks before they could re-open, many banks killed
Federal Deposit Insurance Corporation (FDIC)
to insure personal bank deposits up to $5000; required commercial banks to separate themselves from investment brokerages, the government agency that insures customer deposits if a bank fails; , a federally sponsored corporation that insures accounts in national banks and other qualified institutions
Securities and Exchange Commission (SEC)
The agency of the U.S. government that oversees U.S. financial markets and accounting standard-setting bodies; , An agency of the U.S. Government that has authority over the accounting and financial disclosures for companies whose shares of ownership (stock) are traded and sold to the public.
public works programs (PWA)
government hired workers to construct schools and courthouses, build dams, and pave highways
Civilian Conservation Corps (CCC)
employed about 3 million men to work on projects that benefited the public, planting trees to reforest areas, building levees for flood control, and improving national parks. This program gave jobs to men but it also benefited the public.
National Recovery Act (NRA)
Part of "First" New Deal Program (1933-1935), prevented extreme competition, labor management disputes, and over-production; federally coordinated consensus of business leaders (Hugh Johnson) to regulate businesses (wages, limits, working conditions), opted for a government-sponsored form of industrial self-government through the National Recovery Administration. The NRA encouraged industrialists in every part of the economy to agree on rules, known as codes, to define fair working conditions to set prices, and to minimize competition.
Agricultural Adjustment Administration (AAA)
Created in 1933 as part of FDR's New Deal. The AAA controlled the production and prices of crops by offering subsidies to farmers who stayed under set quotas. The Supreme Court declared the AAA unconstitutional in 1936; , paid farmers not to grow certain crops
Tennessee Valley Authority
A relief, recovery, and reform effort that gave 2.5 million poor citizens jobs and land. It brought cheap electric power, low-cost housing, cheap nitrates, and the restoration of eroded soil;, Built dams to provide cheap electric power to seven southern states, set up schools and health centers
Second New Deal, starting 1935
a new set of programs in the spring of 1935 including additional banking reforms, new tax laws, new relief programs; also known as the Second Hundred Days; Some thought the first New Deal (legislation passed in 1933) did too much and created a big deficit, while others, mostly the elderly, thought it did not do enough. Most of the 1933 legislation was ineffective in stopping the Depression, which led F. D. R. to propose a second series of initiatives in 1935, referred to the Second New Deal.
National Labor Relations Act (Wagner Act)
Defined unfair labor practices and established the National Labor Relations Board (NLRB) to settle disputes between employers and employees; protects the rights of most workers in the private sector to organize labor unions, to engage in collective bargaining, and to take part in strikes and other forms of concerted activity in support of their demands.
an organization of workers in a particular industry or trade, created to defend the interests of members through strikes or negotiations with employers.
an act passed in 1935 gave government-payed pensions to American citizens over the age 65 as well as provided help for the unemployed, the disabled, and the needy; social welfare program in the U.S.
payments by the government for a limited period of time to people who have lost their jobs
aid to dependent children
1935-96, federal funds, administered by the states, for children living with people who fall below state standards of need; Federal funds, administered by the states, for children living with persons or relatives who fall below state standards of need; abolished in 1996
Election of 1936
In this election, FDR received 61% of the popular vote, the biggest landslide in an American presidential election to that time. His support came from progressives and liberals, the poor and unemployed, urban workers, and A-As.
if an African American did not follow racial ettiquete that person was lynched, burned, hung, or shot without trial in the South (To Kill a Mockingbird)
due to FDR's plan; led to Recession
spending more than is being taken in; due to FDR's plan; led to Recession
Recession of 1937
A second period of economic decline during the Great Depression that resulted because FDR had largely stopped spending money and attempted to create a balanced budget, which lessened the effects of the New Deal on the people by laying off many more workers and giving less and less to the people; , caused by the New Deal; August 1937, economy collapsed again; nation entered recession (period of slow buisness activity); after the initial economic improvement stemming from the new deal, the economy collapsed again because of government spending.
attempt by Roosevelt to appoint one new Supreme Court justice for every sitting justice over the age of 70 who had been there for at least 10 years. Wanted to prevent justices from dismantling the new deal. Plan died in congress and made opponents of New Deal inflamed; , Roosevelt tried to tip the system of checks and balances set up by the Constitution when his New Deal was in danger from the Court
The informal radio conversations Roosevelt had with the people to keep spirits up. It was a means of communicating with the people on how he would take on the depression.
Grapes of Wrath, John Steinbeck
John Steinbeck's novel about a struggling farm family during the Great Depression. Gave a face to the violence and exploitation that migrant farm workers faced in America
The Wizard of Oz
Book by L. Frank Baum that used symbolism to satire the politics of the day every character in the book represented some form of people in society discussed the gold standard became a best seller; Judy Garland