APUSH Chapter 22 Flashcards
1
Q
Hoover’s response to the Great Depression
A
- encouraged businesses to keep factories running and not cut wages (didn’t happen)
- refused to increase gov’t spending
- created the Reconstruction Finance Corporation (provided loans to banks and other businesses in attempt to stimulate the economy)
- gave aid to businesses and industry instead of direct aid to people who needed it
2
Q
Hawley-Smoot Tariff
A
- 1930
- a high tariff on imports
- designed to stimulate American manufacturing
- triggered retaliatory tariffs in other countries
- led to a decline in foreign trade at the worst time
3
Q
Reconstruction Finance Corporation
A
- in 1932
- created by Hoover
- provided loans to banks and other businesses in attempt to stimulate the economy
- break from laissez-faire policy
- focused on large institutions rather than struggling individuals
4
Q
The Bonus Army fiasco
A
- WWI vets come to D.C. to lobby for an early payment of their bonus, due in 1945
- 15,000 WWI vets
- Hoover and the Senate opposed and voted it down
- most vets left D.C. but some stayed and Hoover ordered the army to forcibly remove them
- widely criticized for this, damaged his public image
4
Q
21st amendment
A
- repealed the 18th amendment
- ended nationwide prohibition
- returned control over alcohol regulation to individual states
4
Q
20th amendment
A
- “lame duck amendment”
- moved the beginning and ending of presidential and congressional terms to Jan. 20th and Jan. 3rd
- shortened the period between elections and the start of new terms
5
Q
FDR in the 1932 presidential campaign
A
- offers American people a “new deal”
- redefining liberalism
- three “R”’s (relief, recovery, reform)
6
Q
Roosevelt v. Hoover
A
- Roosevelt : active gov’t intervention, direct relief programs, gov’t regulation
- Hoover : individualism, limited gov’t intervention, laissez-faire economics, opposed to direct relief
7
Q
Roosevelt’s bank holiday
A
- March 6
- banks are closed and will remain closed until they pass inspections
- addressed bank failures and restored confidence in the financial system
8
Q
The Homeowners Loan Corporation
A
- passed by Congress to refinance mortgages
- helped more than a million Americans retain their homes
- lower monthly payments and longer loan terms (30 year mortgage)
9
Q
The Agricultural Adjustment Act
A
- initiated the direct gov’t regulation of the farm economy
- provided cash subsidies to farmers who cut production of 7 major commodities
- acts benefits were not evenly distributed as subsidies went to owners of large and medium sized farms (who cut production by reducing the land they rented to tenants and sharecroppers)
10
Q
The Civilian Conservation Corps
A
- established and hired 250,000 young men to do reforestation and conservation work around the country
11
Q
Securities and Exchange Commission
A
- established in 1934 to regulate the stock market
12
Q
The American Liberty League
A
- formed in 1934 by business leaders and conservatives
- lobbied against the “reckless spending” and “socialist” reforms
12
Q
Schechter v U.S.
A
- the Supreme Court struck down the NIRA as unconstitutional
- NIRA delegated legislative power to the executive branch and extended federal authority to intrastate trade
- “the sick chicken case”
13
Q
Left wing criticism of the New Deal
A
- Francis Townsend : called for an elderly pension plan, which would give ages 60+ $200/month
- Huey Long : increased taxes on corporations, lowered utility bills, built new hospitals, schools, and roads; “share our wealth” called attention to income inequality
- Charles Coughlin : dismissed the New Deal as a communist conspiracy and revived the old Populist scheme of free coining of silver to increase the money supply
14
Q
John Maynard Keynes
A
- British economist
- Keynesian economics
- gov’t deficit spending and manipulation of interest rates could prevent depressions and limit inflation
15
Q
The Works Progress Administration
A
- employed 8.5 million people between 1935-1943
- built bridges, public buildings, roads, parks and airports
- reached about 1/3 of the nation’s unemployed
16
Q
The Wagner Act
A
- passed in 1935
- also known as the National Labor Relations Act
- guaranteed workers the right to organize without interference from employers and right to collective bargain
- spurred a burst of labor activity
17
Q
Eleanor Roosevelt
A
- wife of FDR; first lady
- worked to increase women’s power in political parties, labor unions, and education
- pushed the president and the New Deal to do more and served as the conscience of the New Deal
