Alphabet Agencies Flashcards

1
Q

Banking and Finance - EBRA

A

1933 - Emergency Banking Relief Act

  • US taken off gold standard
  • required those who had gold to return it to Fed. Reserve Banks for $20.6 and ounce and made the dollar no longer redeemable by gold
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Banking and Finance - Emergency Banking Act

A

1933

  • to strengthen banks capital position
  • authorised Reconstruction Finance Corporation to buy up stock and bank debts in order to make institutions financially sound
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Banking and Finance - The Glass Steagall Act

A

1933

  • Commercial banks banned from banking that had fuelled speculation
  • bank officials not allowed to take personal loans from own banks
  • Federal Deposit Insurance Corporation est. to provide system of Fed. guarantees for bank deposits
  • shares purchased ‘on the margin’ banned
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Regulation of the Stock Market - The Truth in Securities Act

A

1933

- required brokers to offer clients realistic information about the securities they were selling

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Regulation of the Stock Market - The Securities Act

A

1934

  • est. new agency - Securities Exchange Commission
  • regulated stock market and tried to prevent fraudulent activity such as insider dealing
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Economies in Government - The Economy Act

A

1933

  • slashed government salary
  • cut ex-soldier pensions
  • refused to give veterans their bonus
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Agriculture - AAA

A

1933 - Agricultural Adjustment Administration

  • set up to apply terms of Agricultural Adjustment Act
  • deemed unconstitutional in 1935
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Agriculture - Under AAA - Farm Credit Act

A
  • gov. agencies arranged for $100 million to be available to re-finance mortgages
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Agriculture - Under AAA - The Frazier-Lemke Act

A
  • lent money to farmers who had already had their farms and houses re-possessed so they could recover them - interest only set at 1%
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Agriculture - Commodity Credit Agency

A
  • made loans to farmers to store products
  • loans would only have to be repaid when the farmer could get a certain price
  • targeted: corn, cotton, milk etc
  • payment to be financed by tax on food processing
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Industrial Recovery - NIRA

A

1933

  • est. 2 crucial organisations:
    1. NRA
    2. Public Works Administration
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Industrial Recovery - NRA

A

1933 - National Recovery Administration

  • created 514 legally binding codes regulating wages, prices and competition
  • key obj. was to restore purchasing power and avoid excess competition
  • larger businesses benefited as anti-rust measures were abandoned
  • workers benefited from the right to collective bargaining
  • Section 7a made management engage with talks with employers, assisting trade unions
  • rarely enforced e.g. Ford never subscribed
  • minimum wages agreed made it very difficult to smaller firms to abide by
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Industrial Recovery - PWA

A

1922 - Public Works Administration

  • $3.3 billion made available
  • est. to provide funding for Public Works schemes
  • road building, hospitals. schools, etc
  • cautious start, only spending $110 million in the first 6 months
  • funded building of 34,000 constructions and employed thousands
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Industrial Recovery - TVA

A

1933 - Tennessee Valley Authority

  • regional planning of a deprived area with hydro-electricity production, environmental conservation, flood control and educational and health projects
  • 20 dams constructed
  • agriculture transformed
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Relief - FERA

A

1933 - Federal Emergency Relief Act

  • allocated budget of $500 million to provide help for the unemployed
  • half spent directly; other half spent with ratio of $1:$3 (1 fed dollar for every 3 state dollars)
  • many states felt uncomfortable giving money to the poor
  • those who claimed relief shunned adn treated abnormally
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Relief - CCC

A

1933 - Civilian Conservation Corps

  • young men (17-24) recruited to work in national forests and parks
  • projects included
    1. cutting breaks to prevent fires
    2. building roads
  • by 1935 over half a million men involved in 2000 camps
  • paid $30 a month; of which $25 was sent back to their families
  • had a health military style life style
  • included black people
17
Q

Relief - CWA

A

1933 - Civil Works Administration

  • short lived job creation programme
  • for winter of 1933-34
  • created under FERA
  • created construction jobs
  • boondoggle - jobs that have no purpose
  • went over budget
  • $200 million a month
  • jobs to 4 million
18
Q

Relief - WPA

A

1933 - Works Progress Administration

  • jobs for fed. projects
  • some money went to state grants
  • strengthened Democratic states
  • 8 million employed
  • 6,000 schools built
  • 2,000 hospitals
19
Q

Housing - HORC

A

Home Owners Refinancing Corp

  • lower rates of interest
  • borrow over extended period of time
  • 1934 - Federal Housing Administration
  • gov. backed insurance on long term mortgages
    1. people didn’t loose their mortgages
    2. allowed builders to continue construction
20
Q

Native Americans - Indian Re-organistaion Act

A

1934

  • encouraged NA culture
  • let individual tribes have self governance
  • allowed them to govern themselves
  • NA encouraged to take advantage of CCC and PWA
21
Q

Agriculture - Under AAA - Agricultural Adjustment Act

A
  • est. main issue was over-production
  • subsidies given to farmers to cut production in order to increase prices and raise income
  • farmers owning land paid to take land out of production in certain crops