APUSH Chapter 26 and 27 Part 2 Flashcards
Immediate effects of GD
6000 banks fail GND drops from 104-59 billion 85000 businesses Unemployment rises from 3% to 25% Others have pay/hours cut Americans are struggling to feed families
Bank Failures
“Runs of the banks”
Become popular
Depositors attempt to withdraw all of their money before back fails
Many lose life savings upon failure.
Strains on families
Many men desert families, some become homeless
Women struggle to provide for children
Children
Nutritional health problems
Schools close
Breadlines, soup kitchens
.
Hoovervilles
Shacks made out of any material they can find
Hoover basket
Newspaper
Decline in the birth rate
Deferments of marriage, college
Suicide rates rise 30%
.
The Dust Bowl
Prolonged drought hits the Great Plains (1933)
Followed by high winds
Fertile Topsoil blown away in “dust storms
Crops vanish
Oklahoma hardest hit
Natural or an effect
350,000 “Okies” forced to migrate to CA in search of service
Rugged Individualism
Hoover opposed to direct relief
Believes that govt should not “dole out” aid
Feared it would weaken national integrity
-supports railroads, banks, etc.
hopes that aid would “trickle down”
Hawley Smoot Tariff (1930)
Hoover approves productive tariff proposed by congress
Raises rate from 38% to 60%
Angers foreign nations
Worsens economic conditions
Public Works
Hoover encourages congress to support Public Works Project Funding Hoover Dam (1930-6) in Nevada -->provides irrigation, electricity, etc Hoover continues to refuse direct loans to individuals Reconstruction Finance Corporation
The Bonus Army/Summer 1932
20,000 veterans migrate to Washington Demand early payment of buses Bonus not due until 1945 Veterans live in shacks in giant Hooverville Goal is to use presence to influence aid
When does FDR advocate preparedness
1915
When was FDR nominated by democrats for VP
1920
When does he get Polio
1921
When was he the gov of NY
1929-1933
Election 1932
President
Bank Holiday
March 6-10 1933
FDR orders all banks in US closed
Inspected then reopened if sound
Relief
The hundred days
First hundred days of FDR’s administration
FDR calls congress into special asssion
Hastily past huge amounts of legislation
The New Deal
FDR’s domestic economic plan
3 R’s, relief, recovery, reform
Creates lasting reforms and immediate direct relief
Numerous programs
Glass Steagall Baking Reform Act (FDIC)
Creates Federal Composite Insurance Corporation
Insures bank deposits up to $5000
Bank failures drop sharply in the aftermath
Reform
CCC
Civilian Conservation Corps
Goal is to attack unemployment
Provides employment for 3 million young men
Paramilitary, avoid criminal behavior, reforestation, fire fighters, flood control, swamp damage
NIRA
National Industry Recovery Administration (1933)
Industries agree to a “fair competition”
Limits workplace hours –>spreads work around
Guarantees right to collective bargaining
Recovery
AAA
Agricultural Adjustment Act Govt pays farmers to reduce acreage (subsidized farming) Planted crops, plowed under Reduced oversupply-->raised prices Recovery
FERA
Federal Emergency Relief Administration
$500 mil in direct aid to poor
Soup kitchens, blankets, employment agencies
Relief
TVA
The Tennessee Valley Authority 1933 Example of "planned economy" Development of hydroelectric dams Control flooding, rural electrification Effects: cheap electricity, jobs, construction of soil, reforestation Recovery
Other New Deal Programs
Civil Works Administration
4 mil pubic works jobs
Securities and Exchange Commission (SEC)
Regulates stock market, outlaws buying on margin –>reform
Critics of the New Deal
Fr. Coughlin (didn't do enough w banking) Huey Long (Share Our Wealth) --> socialist policies Dr. Francis Townsend (not enough w pension)
