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History- USA > 1) Economic Downturn And Recovery > Flashcards

1) Economic Downturn And Recovery Flashcards

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1
Q

What were the impacts of the depression on the USA?

A
  • Overproduction of foreign trade
  • Unequal distribution of wealth
  • Speculation on the stock market
  • Panic selling of shares
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2
Q

Who were the bonus marchers?

A

WW1 veterans who wanted their bonuses paid early.

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3
Q

What did the Bonus Marchers want?

A

Wanted a bill which would allow early payment of their bonuses.

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4
Q

What did the bonus marchers do?

A

May and June 1932, Bonus Expeditionary Force made you of 12000 unemployed and homeless veterans from over the USA marched to Washington to voice their support for a bill.

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5
Q

How did the government react to the bonus marchers?

A

They labelled them as a rabble, to pay for the bonuses would have cost them $2.3 million and Hoover felt that was too much.

Congress provided money for transport home for marchers but 5000 refused.

Government labelled them as communists and sent police to clear them from building in which they lived. Army sent to disperse crowd.

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6
Q

How did the depression affect unemployment?

A
  • 2.5 million unemployed end of 1929
  • 13 million by 1932
  • Drop in demand for US good and therefore jobs
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7
Q

What was depression in cities like?

A
  • Factories began to close
  • People stopped spending and production stopped and slowed
  • 1933 almost 1/3 of workforce unemployed
  • People lost homes and some built alternative ‘Hoovervilles’
  • Some people drifted across country as hobos
  • 1932- 2 million hobos
  • black unemployment 50%
  • White unemployment 20%
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8
Q

What was depression in the country side like?

A
  • Farmers were unable to sell their produce so food was left to rot
  • 1931 ‘dust bowl’ drought which affected 20 million hectares of land- Oklahoma, Kansas, New Mexico, Colorado
  • More than 1 million people left their homes to seek work
  • Oklahoma ‘Okies’ Arkansas ‘Arkies’
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9
Q

How did the depression affect family life?

A
  • Marriage rate fell 1.23 million in 1929 to 982,000 in 1932, young people unwilling to take on commitment.
  • Child birth rate fell
  • Suicide rage 12.6 per 1000 people in 1926 to 17.4 in 1932
  • Schools in Arkansas closed for 10 months
  • By 1932 25% of population not receiving income.
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10
Q

What were Hoovervilles?

A

Sarcastic name for dwellings of the depression which caught on as a result of Hoover’s lack of support and relief.

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11
Q

What was life in Hoovervilles like?

A

No running water of sewage systems, existed until 1941.

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12
Q

What were other things like Hoovervilles that existed during depression?

A

Hoover blankets- Layers of newspapers
Hoover flags- Men’s trouser pickets inside out
Hoover wagons - Horses tied to cars

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13
Q

How long was Herbert Hoover in office for and how was he politically?

A

In office 1929-1933

Republican

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14
Q

What was Hoover determined to do?

A

Balance the budget and refused to borrow money.

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15
Q

Which ideas did Hoover support?

A

Laissez-faire (government should stay out of economic matters)

Rugged individualism (Americans are best when allowed to strive for their own success- hard work will pay off)

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16
Q

What did Hoover meet business leaders to do?

A

He asked them not to cut wages or production levels.

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17
Q

What was the Hawley-Smoot Tariff Act of 1930?

A

This protected US farmers by increasing import duties in foreign goods. As a result in retaliation other countries refused to trade with the USA.

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18
Q

What was the Agricultural Marketing Act of 1930?

A

Enabled government to lend money to farmers through special marketing groups called co-operatives, which ensured that goods were sold at a profit by farmers.

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19
Q

What did Hoover set up to tackle the depression?

A

Relief agencies e.g. the President’s organisation for unemployment relief which aimed to promote local relief efforts.

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20
Q

How much did Hoover cut taxes by?

A

$130 million

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21
Q

What did Hoover win approval from Congress for?

A

$1.8 billion for new construction and repairs to roads across USA.

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22
Q

What were Hoover’s policies in 1932?

A
  • Reconstruction Finance Corporation (Feb)
  • Emergency Relief Act (ERA) (July)
  • Home Loan Bank Act (July)
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23
Q

Reconstruction Finance Corporation:

A
  • Designed to last 2 years, strengthen confidence in society and stimulate industry and create jobs.
  • Largest federal aid given - $2 billion in loans to failing banks, insurance companies and rail roads.
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24
Q

Emergency Relief Act:

A
  • Provided $300 million to state governments to help the unemployment.
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25
Q

Home Loan Bank Act:

A
  • Designed to stimulate house building and home ownership.

- 12 regional banks set up with a collective fund of $125 million.

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26
Q

What were some of Hoover’s successes?

A
  • Had persuaded state and local governments to extend their public work programmes by spending $1.5 billion
  • Began to implement policies that would be followed by FDR e.g. helping banks
  • Spending on public works exceeded that of the previous 30 years.
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27
Q

Who was FDR ?

A

Franklin Delano Roosevelt
Democrat
Won 1932 presidential election

28
Q

How much did FDR win the 1932 election by?

A

A landslide, only 6/48 states voted for Hoover.

29
Q

How did Hoover’s unpopularity help Roosevelt win the election?

A
  • Blamed for depression
  • Election only few months after bonus marchers
  • Had nothing new to promise voters
  • Relief and government schemes too small in scope
  • Banks and businesses continued to fail
30
Q

How did Roosevelt’s appeal help him win the election?

A
  • Many impressed that he had overcome the effects of polio
  • Had mood of optimism
  • Simple, bold message
  • New deal would include job creation, government help for both agriculture and industry
31
Q

What was Roosevelt’s new deal based on?

A

The three ‘Rs’
Relief
Reform
Recovery

32
Q

What was relief in the new deal?

A

Assist in removal of poverty, provide food for the starving, intervene to prevent people losing homes/farms.

33
Q

What was recovery in the new deal?

A

Boost the economy so that people could get jobs.

34
Q

What was reform in the new deal?

A

Ensure that there were welfare provisions in the future to help the unemployed, old, sick, disabled and destitute.

35
Q

What was the first thing that Roosevelt did of meaningful consequence?

A

‘The Emergency Banking Act’ - bad banks did not reopen so people trusted banks more and put their money in them.

36
Q

What were fire side chats?

A

FDR spoke on the radio to reassure people about the Emergency Banking Act and to keep people using banks.

37
Q

What were the alphabet agencies that came under relief?

A

AAA
CCC
FCA
TVA

38
Q

What was the AAA?

A

Agricultural Adjustment Administration (1933)

Provided farmers with federal subsidies to compensate them for cutting back the overproduction of basic commodities e.g. pork, wheat, cotton and dairy products.

39
Q

What was the CCC?

A

Civilian Conservation Corps (1933)

Provided work for young men working on conservation projects e.g. planting trees for windbreaks and improving national parks.

40
Q

What was the FCA?

A

Farm Credit Administration (1933)

Helped farmers manage their debts by loans from federal funds to pay for seed, machinery and marketing.

41
Q

What was the TVA?

A

Tennessee Valley Authority (1934)

Coordinated schemes for conservation and regeneration in southern and western states.

42
Q

What were the alphabet agencies for recovery?

A

NRA

43
Q

What was the NRA?

A

National Recovery agency (1933)

Brought government industry and labour unions together to promote ‘fair practice’ stopping price cutting, wage cuts and job losses.

44
Q

What were the alphabet agencies for Reform?

A

PWA
ERTA
FCC
SEC

45
Q

What was the PWA?

A

Public works administration (1933)

Provided more than $3 billion for work creation projects such as roads.

46
Q

What was the ERTA?

A

Emergency Railroad Transportation Act (1934)

Set up federal regulation of radio and telegraph services.

47
Q

What was the FCC?

A

Federal Communications Commission (1934)

Set up federal regulation of radio and telegraph services.

48
Q

What was the SEC?

A

Securities and exchange commission (1934)

Extended the Banking Act to set up federal regulation of trading in stocks and shares, and strengthen the federal reserve in Washington. It was now legal to buy stocks on credit.

49
Q

What did Roosevelt introduce in January 1935?

A

His second new deal, a broad programme of reform to help farmers, workers, the poor and the unemployed.

50
Q

How was the second new deal different to the first?

A

It had a more radical House of Representatives from 1934, who were more willing to support action- FDR wanted to lead action rather than be pushed by congress.

51
Q

What were some of the Acts of the second new deal?

A
  • Work Progress Administration (WPA)
  • Fair Labour Standards Act
  • Labour Relations Act (Wanger Act)
  • Social Security Act
52
Q

What was the Works Progress Administration (WPA)?

A

Funding and building projects, including hospitals, schools, airports and harbours, thus creating employment.

53
Q

What did the WPA do?

A
  • Organised a $4.8 billion relief programme
  • Put unemployed teachers back to work
  • Created community service schemes to employ artists, writers and actors
54
Q

How did FDR describe the work of the WPA?

A

‘Priming the pump’

55
Q

What did the Fair Labour Standards Act do?

A
  • Minimum wages and maximum hours
  • 300,000 workers secured higher wages
  • Child labour not permitted apart from on farms
56
Q

What did the Labour Relations Act do (Wanger Act)?

A
  • Gave more rights for workers, allowed to enter into collective bargaining
  • Number of Labour Union members increased from 3 million in 1933 to 9 million in 1939
  • Set up the National Relations Board, which was given the power to act against employers who used unfair practices
57
Q

What did the social security act mean the government had accepted?

A

The government at last accepted full responsibility for meeting the basic needs of its citizens.

58
Q

What did the social security act establish?

A
  • Pension benefits for the elderly, the orphaned, those injured in industrial accidents.
  • Unemployment benefits funded by a tax in the payrolls of employers.
59
Q

How did politicians/businessmen oppose the New Deal?

A
  • Republicans were strong critics of the new deal- they represented America’s wealthy families and large businesses.
  • The American liberty league of 1934 set up to preserve individual freedom and backed by wealthy businessmen.
  • Even members of Roosevelt’s party opposed him- known as conservative democrats.
60
Q

How did Father Coughlin oppose the New Deal?

A
  • Criticised new deal for not doing enough
  • Labelled Roosevelt anti-God
  • Had a weekly radio broadcast with 40 million listeners
61
Q

How did the Supreme Court oppose the New Deal?

A
  • Court dominated by Republican judges
  • 11 cases in which Roosevelt has acted unconstitutionally
  • He used central and federal powers which the constitution had not given him power to use
62
Q

How did Dr Francis Townsend oppose the New Deal?

A
  • Set up an organisation called ‘old age pension plan’

- Gained support from elderly who benefited from the New Deal

63
Q

How did Heuy Long oppose the New Deal?

A
  • Announced his own plans to share the nation’s wealth fairly but was the destroyed by the slogan ‘shad our wealth’
64
Q

How did Roosevelt react to criticism of his new deal?

A

Feb 1937 he threatened to fire those over 70 in the Supreme Court and replace them with younger people.

65
Q

What was the ‘sick chickens’ case of 1935?

A
  • Involved 4 brothers, the Schechters who rain a poultry business.
  • 1933, signed the rules of NRA set up by the NIRA, these rules governed fair prices, wages and competition.
  • 1935- government took brothers to court for selling a batch of diseased chicken.
  • Schechters appealed to Supreme Court which declared the NIRA illegal.
66
Q

Why was the ‘Sick Chickens’ case significant?

A

It gave the federal government powers that it should not have to interfere in state affairs.

67
Q

What did the US vs Butler case in 1936 do?

A

Declared the AAA illegal and help to farmers was a matter for each state government, not the federal government.

History- USA (5 decks)

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