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Final: The Great Depression
Terms in this set (21)
Federal Home Loan Bank Act
Lowered mortgage rates for homeowners and allowed farmers to refinance their farm loans and avoid foreclosure; avoided eviction by reducing mortgage and loan rates as well as providing loans.
Reconstruction Finance Corporation
An independent agency of the United States government, approved in 1932 by congress. The RFC loaned money to banks, railroads and other financial institutions. It granted over 2 billion dollars to the local and state governments. It was created under the Herbert Hoover administration.
Group of WWI veterans that marched to D.C. in 1932 to demand the immediate payment of their government war bonuses in cash. Congress denied their requests but many stayed and camped out in protest. They were physically and violently removed by US soldiers on Hoovers Request.
The farmers, who in the Great Depression, were forced to move away due to the Dust Bowl. Many moved to Oklahoma.
New Deal Inequalities
Workers- Through the growth of labor unions, the numbers grew and became politically powerful. New Deal acts were put in place to help workers such as the WPA. It's purpose was to put millions of unemployed Americans to work through governmental projects, many of which involved rebuilding American infrastructure such as highways, bridges, parks, etc.
Farmers- economic and political, numerous and a dominant economic member. New deal acts were also put into place for farmers such as
AAA, the Agricultural Adjustment Administration
FSA, the Farm Security Administration
CCC, the Civilian Conservation Corps
NRA, the National Recovery Act
NYA, the National Youth Administration
WPA, the Works Progress (later Projects) Administration
PWA, the Public Works Administration
SSA, the Social Security Administration
REA, the Rural Electrification Administration
African Americans - Democrats unwilling to lose support of Solid South and unwilling to change codes of racism in the US, maintained segregation.
Native Americans- People were suppose to treat Native Americans by accepting them and use cultural relativism (no superior or inferior races) John Collier passed the The Indian Reorganization Act ended the Dawes Act but everything was basically ineffective for the most part because many Native Americans did not agree with Collier. Poor quality land was given back and Native Americans remained very poor yet tribes united again.
Women- 1930s female's fought to protect women in the private home and their abilities to work in that home. Women were basically treated the same as they were before the New Deal.
The New Deal
The Program put into place to ease the depression through relief, reform and recovery under the FDR administration. It separated into the first New Deal (programs initiated from 1933-1935) and the second New Deal (wave of programs beginning in 1935, FDR term 2).
Franklin D. Roosevelt
Referred to by his initials FDR, was the thirty-second President of the United States. Elected to four terms in office, he served from 1933 to 1945, and is the only U.S. president to have served more than two terms of office. He was a central figure of the 20th century during a time of worldwide economic crisis (depression) and world war.
Government spending that exceeds its income. It supported New Deal programs. Government intervention was supported by John Maynard Keynes in order to ease the effects of the depression.
New Deal Programs
FDR's plan to help the US during the Great Depression. Government programs that provided relief, recovery, and reform. They helped lift the country out of depression by creating jobs, stimulating economy, and providing the basic needs of people. New government ideal.
The special session of Congress that Roosevelt called to launch his New Deal programs. The special session lasted about three months: 100 days.
FDR closed all the banks for 8 days, and secure, good banks reopened and unsecure bad banks did not. Restored confidence in banking system.
Election of 1932
The Republican nominee was Herbert Hoover and the Democratic nominee was Franklin D. Roosevelt. The Republican platform included higher tariffs, keeping the gold standard, and continuation of Hoover's policies. The Democratic platform included the repeal of prohibition, a 25% cut in government spending, unemployment aid, and a "new deal" for America. Roosevelt won with 472 electoral votes and all but 6 states. His victory paved the way for his "New Deal' policies and optimism in the country "nothing to fear but fear itself"
FDR supporters were immigrants, urban folk, Catholics, rural farmers, union workers and solid south African Americans. Was known as the the New Deal Coalition.
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.
Father Charles Coughlin
A Catholic priest and popular radio broadcaster praised Hitler and criticized FDR for his New Deal program.
Louisiana Senator who opposed FDR's New Deal and came up with a, "Share the Wealth" plan. Wanted to give $5K to all families, then was later assassinated.
Dr. Francis Townsend
A retired physician who developed a plan in which the government would give monetary resources to senior citizens ages sixty and over. He and other demagogues pushed FDR to move the New Deal to help people directly and laid the foundations of the creation of Social Security.
FDR's Wife and New Deal supporter. Was a great supporter of civil rights and opposed the Jim Crow laws. She also worked for birth control and better conditions for working women.
Established in 1935, also established National Labor Relations Board. It protected 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 arranged and planned activity in support of their demands. It created a system to arbitrate disputes between unions and employers and it
prohibited employers from interfering with union activities. The Wagner Act was part of the New Deal by FDR, it improved the system. The President was siding with labor and this act gave a significant change to the workers.
Mary McLeod Bethune
Member of black cabinet and also was a leader in the struggle for women and black equality. She founded a school for black students that eventually became Bethune-Cookman University. She also served as an adviser to President Franklin D. Roosevelt.
New Deal Coalition
Coalition formed by the Democrats who dominated American politics from the 1930's to the 1960's. Its basic elements were the urban working class, ethnic groups, Catholics and Jews, the poor, Southerners, African Americans, and intellectuals. Elected FDR.
Federal Deposit Insurance
A federal government guarantee of certain types of bank deposits for account balances of up to $100,000.
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