Chapters 14 and 15 U.S. History Study Guide
Terms in this set (18)
Causes of the Great Depression
lack of economic diversity, farming sector failing, buying stocks on the margin (speculation), stock market crash, uneven distribution of wealth, international issues
Emergency Banking Relief Act
(FDR) 1933 , gave the President power over the banking system and set up a system by which banks would be reorganized or reopened., HUNDRED DAYS STARTS
1932 - Facing the financial crisis of the Depression, WW I veterans tried to pressure Congress to pay them their retirement bonuses early. Congress considered a bill authorizing immediate assurance of $2.4 billion, but it was not approved. Angry veterans marched on Washington, D.C., and Hoover called in the army to get the veterans out of there.
Congress created the Works Progress Administration in 1935 and President Roosevelt placed Harry Hopkins in charge of it. It eventually spent $11 billion on federal works projects and provided employment for 8.5 million persons. They built roads, bridges, schools, etc., but the also funded projects for thespians, artists, writers, and young people.
Agricultural Adjustment Administration: attempted to regulate agricultural production through farm subsidies; ruled unconstitutional in 1936; disbanded after World War II
Workers barricade themselves inside the factories. The objective is to shut down the factory by not allowing employers to continue production with strikebreakers. They were popular with industrial unions in the 1930s, but not with employers or the public.
depression is natural (business cycle), can be fixed at local/ state levels, not federal; volunteerism= people give to charity, rugged individualism= people can solve their own problems
Shanty towns that the unemployed built in the cities during the early years of the Depression; the name given to them shows that the people blamed Hoover directly for the Depression.
Packing the Court
FDR wanted to expand the number of judges from 9 to 15 with democrats who favor his "new deal"
(Federal Deposit Insurance Corporation)-A federally sponsored corporation that insures accounts in national banks and other qualified institutions. It allowed people to trust the banks again after their failure during the Great Depression.
Conservatives who did not agree with Roosevelt, they wanted government to let business alone and play a less active role in the economy
Dr. Francis Townsend
American physician and social reformer who advanced the Old Age Revolving Pension Plan, which proposed that every retired person over 60 receive a pension of $200 a month (about twice the average week's salary). It required that the money be spent within the month
32nd President of the United States, Roosevelt, the President of the United States during the Depression and WWII. He instituted the New Deal. Served from 1933 to 1945, he was the only president in U.S. history to be elected to four terms
(FDR) , , President Franklin Roosevelt's precursor of the modern welfare state (1933-1939); programs to combat economic depression enacted a number of social insureance measures and used government spending to stimulate the economy; increased power of the state and the state's intervention in U.S. social and economic life. RELIEF, RECOVERY, AND REFORM
Civilian Conservation Corps. It was Relief that provided work for young men 18-25 years old in food control, planting, flood work, etc.
..., Region of the Great Plains that experienced a drought in 1930 lasting for a decade, leaving many farmers without work or substantial wages.
"Kingfish" who practically owned Louisiana, A Senator from Louisiana who proposed a "Share Our Wealth" program that promised a minimum annual income of $5,000 for every American family which would be paid for by taxing the wealthy. (100% tax on 1 million dollars). Announced his run for president in 1935, but was killed by an assassin.
Impact of the New Deal
Historians generally regard the New Deal as a programs of of reform rather that of revolution because the New Deal sought to restructure American capitalism rather than replace it. The New Deal did mark a new direction for the federal government. For example, the New deal programs all demonstrated a willingness t use government to enhance social welfare. The New Deal programs were partially successful in reducing unemployment and reviving the economy. The New Deal led to the emergence of the Democratic Party as the majority party. The New Deal helped African Americans survive the Great Depression. (Note: New Deal programs did not directly confront racial injustice.) It is important to remember that the United States did not fully emerge from the Great Depression until the massive military expenditures promoted by World War II. The new deal did not integrate the armed forces, sponsor the Equal Rights Amendment, include programs specifically designed to protect the civil rights of African Americans, establish the Bureau of Indian affairs, nationalize basic industries, or provide legal recognition of unions for migrant workers.
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