Ch 23-25 Exam Review Flashcards
By 1933
25% of the labor force was unemployed
Hoover adhered very strongly to
American traditions
What traditions did Hoover adhere to
- Economic outcomes or just a product of individual character 2. For voluntary action businesses could regulate themselves (laizze faire)
The great depression was where
Worldwide
Reconstruction finance Corporation
Lent little money to troubled railroads and banks but not enough to keep them from closing
Hoovers failures include
His strict adherence to the GOLD STANDARD,the SMOOT-HAWLEY TARIFF (raised rates of incoming products so now other countries won’t import), PRIVATE CHARITY should meet the needs of people, Americans should “TIGHTEN their BELTS and WORK HARDER” (make do with less)
What cause to route to rapidly become the most hated man in America
His failures
What were shantytowns also known as
Hooverville’s
What were shantytowns
Areas developed by the homeless where they would use whatever they could find for shelter
Farmers were meeting bankers with
Armed resistance
Farmers formed the
Farmers holiday association
The farmers holiday association
Stated that farmers would not ship any more products into cities until prices went up
Violent labor confrontation
Kentucky coal mines didn’t have money or work so they retaliated
When did the bonus army march
Summer 1932
What cause Hoovers popularity to plunge
The way he handled the bonus army march
How many unemployed world war one veterans participated in the bonus army march
15000
When were the world war one veterans supposed to receive their soldiers pension
1945
What did the bonus army marchers ask for
To receive their soldiers pension early(1932)
Where did the bonus army marchers camp
Outside of the capital building in Washington
How did Hoover deal with the bonus army march
He sent the army to affect the marchers. He burned the encampment, dispersed them, and many were injured
Who led the army to evict the world war one veterans during the bonus army march
Douglas MacArthur
Franklin Delano Roosevelt was the governor of where
New York
What was FDR during world war one
The assistant secretary of the Navy
What left FDR paralyzed
Polio
Many historians believe FDR wouldn’t have won if
The TV was around to show his crippled legs
What did FDR promise
Bold, extensive, and persistent experimentation to get the nation out of the depression(didn’t know what would work)
FDR won hands down because of his
Personal charisma
FDR one in November but was not inaugurated until
March
FDR was elected in the year
1932 (inaugurated 1933)
During the time between FDR was elected and the time when he was inaugurated
The great depression situation got worse
Which state took the worst hit during the depression
Ohio (severe unemployment but they trusted him)
When did FDR issue the banking reform
The day after his inauguration
What did FDR’s banking reform state
He declared a banking holiday and closed every bank to re-organize the system with three components
What were the three components of of re-organizing the banking system
- EMERGENCY BANKING ACT 2.GLASS-STEGAL ACT
3. TOOK US OFF OF THE GOLD STANDARD
What did the emergency banking act do
Stated that in order for banks to re-open they would have to prove that they have sufficient reserves and funds. FDR assured the American people in his first fireside chat that banks would reopen
What was the Glass-Steagall act
Created the Federal deposit insurance Corporation
What was the Federal Deposit Insurance Corporation
If a bank could re-open the federal government would ensure peoples money up to $25,000. This encouraged people to put their money back into banks
What was the agricultural adjustment act
Provided subsidies to farmers who agreed to cut farm production. It kept price is high so farmers could make money (supply and demand)
What was the national industrial recovery act
It would regulate industries and give freedom but also regulate
Unemployment relief
Founded the federal emergency relief administration
What is today’s equivalent of the federal emergency relief administration
FEMA
Who led the federal emergency relief administration
Harry Hopkins
What did the federal emergency relief administration do
They didn’t believe that they should give people direct payments (the dole) but believed that they should give federally funded jobs over cash
People were put to work through
The Public Works administration
The CCC
Loaded up unemployed men on buses to build community parks, monuments, etc.
The federal emergency relief administration believe that cash should be given to
Single mothers with children
FDR wanted to give jobs to
Everyone – blacks and other minorities
What did the homeowners loan Corporation do
Refinance mortgage so people wouldn’t lose their jobs
By the time Congress recessed in June 1933
The downward spiral had been halted – people still criticized FDR
Who didn’t like FDRs reforms
Republicans, business leaders, and Conservative Democrats