Chapter 15 Flashcards
FDIC-federal deposit insurance corporation
Protected bank deposits up to $5,000, reassuring millions of bank customers that their money was safe
Securities and exchange commission
Supervised the stock market and eliminated dishonest practices
Federal securities act
Provided complete info on all stock and made companies liable for any misinterpretations
21st amendment
Had repealed the prohibition act all together
Agricultural adjustment act (AAA)
This raised crop prices by lowering production, it paid farmers to not plant in certain areas
Tennessee valley authority
Developed the resources of the Tennessee valley renovated dams, built new ones, created thousand of jobs, provided flood control and hydroelectric power
Civilian conservation corps (CCC)
Provided jobs, relief and cash to single males through conservation projects
PWA, public works administration
Created jobs on government projects
Helped unemployment
CWA, civil works administration
Provided work in federal jobs
Helped unemployment
FERA
Provide direct relief for the needy
WPA
Quickly created as many jobs as possible
Special efforts for women, minorities, and young people
NYA
Provided job training for unemployed young. Schools, and job training
Social security administration
Provided support for elderly, unemployed and disabled and dependent children
What two programs were later declared unconstitutional
NIRA, AAA
How did FDR react to the Supreme Court decision
Tried to get bill passed to reappoint more people for the court so he’d always be right- court packing
What was a group against new deal
American liberty league conservative opponent of new deal
What did American liberty league believe
Opposed new deal and believed the new deal measures violate respect for rights of individuals and property
Three toughest people and members of ALL
Charles coughlin, Dr. franciatownsend, Huey long
Charles coughlin
Favored animal income and nationalized banks, had the radio station against new deal.
Dr. F
Thought Roosevelt was not doing enough for poor and elderly
Huey long
Wanted presidency for himself, proposed the share our wealth program
Two types of people who opposed new deal
Thought it didn’t go far enough helping people
Felt it went too far and didn’t like how much the government was involved
What was not a cause of the Great Depression
Growing number of homeless people
Tariffs on forgein goods WAS a cause
What for farmers increased before the depression
Debt
Why did the stock market crash
People panicked when stock prices fell and pulled out all of their stocks
What is deficit
Created when you spend more than taking in
What time span was new deal
1930’s
What causes giant spike in deficit
World War Two
What is the major reason for unemployment decrease
World War Two
How did the new deal affect deficit and unemployment
Deficit stayed steady
Unemployment decreased but not as major as in WW2
How did conservatives feel about new deal
FDR policies too large and powerful, government stifled free enterprises and individual initiative
How did liberal critics feel about FDR
Felt he didn’t do enough to socialize economy and eliminate social and economic inequalities. Didn’t like governments involvement
How did supporters for FDR feel
Felt he had a valence between unregulated capitalism and over regulated socialism and helped country recover from economic difficulties , created jobs
Why was the new deal a turning point
In which us government assumed a greater responsibility for economic welfare of citizens
How did the new deal expand power of the government
Infusing nations economy with millions of dollars, created federal jobs, attempts to regulate supply and demand; and increase in government participation in settling labor and management disputes
New deal effects
Social security
Rural scene- get quotas on production of crops
Environment- planted trees, CCC, TVA
Parity price
Price intended to help farmers income steady
Speculation
Buying stocks and bonds on the chance of a quick profit while ignoring the risks
Buying on margin
Paying a small percentage of a stocks price as a down payment and borrowing the rest
Black Tuesday
Bottom fell out of the market and the nations confidence, shareholders frantically tried to sell stock before prices fell even lower
Dust bowl
Drought, exhausted land through overproduction, grasslands unsuitable for farming, dust blown all over. Region hit hardest- Kansas, Oklahoma, Texas, New Mexico, Colorado
Direct relief
Cash payments of food provided by the government to the poor
Bonus army
Bonus to war time veterans wanted it immediately, ended up getting tear gassed
Hooverville
Shanty town built in Central Park
Credit
An arrangement in which consumers agreed to buy now and pay later for purchases
Fireside chat
When FDR went on the radio and talked to the public for them to understand what was going on
Long term effects of new deal programs
Social security
FDIC
SCC
FDR first 100 days
Bank reforms Fireside chat Glass seagull act Federal securities act Just bunch of first acts
FDR second 100 days
Fix some of his programs
Farmers focus
Work
