Chapter 26 Flashcards
What were the causes of the Great Crash?
Each year after 1924, the rate of increase in the sale of cars and refrigerators and ranges slowed, a natural consequences as more and more people already owned these durable goods
Fireside Chats
Presidents started radio broadcasts
FDIC
Federal Deposit Insurance Corporation
Harold Ickies
Secretary of Interior
What were the causes of the Great Depression?
The US factories produced more goods than the American people could consume
What were the social effects of the Great Depression on the population?
Americans suffered through poverty, unemployment was high, and farmers weren’t doing well
Who was the most prominent victim of the Great Depression?
Herbert Hoover
What was Franklin Roosevelts background?
He was born into the old Dutch colonial aristocracy of New York. He was extremely wealthy
What was Franklin Roosevelt’s first New Deal legislation?
He saved the nations banks
What was the New Deal program designed to use public funds to develop mechanisms for flood control and electricity creation in the South?
The Tennessee Valley Authority
National Recovery Act
This New Deal agency was created in 1933 to promote economic recovery and revive industry during the Great Depression
Agricultural Adjustment Administration
Created by Congress in 1933 as part of the New Deal, this agency attempted to restrict agricultural production by paying farmers subsidies to take land out of production
New Deal
President Franklin D Roosevelts program to combat the Great Depression
Bonus Army
In June 1932, a group of 20000 WW1 veterans marched on Washington DC to demand immediate payment of their “adjusted compensation” bonuses voted by congress in 1924
Civilian Conservation Corps
One of the most popular New Deal Programs, the CCC provided 300000 young men between the ages of 18 and 25 with government jobs in reforestation and other conservation projects
Works Progress Administration
New Deal agency to provide work relief for the unemployed
Social Security Act
The 1935 Social Security Act established a system of old age, unemployment, and survivors’ insurance funded by wage and payroll taxes
Wagner Act
Established the National Labor Relations Board and addressed relations between unions and employers in the private sector
Industrial Recovery Act
Key measure in 1933 to set wages and prices in industry via the NRA
Who were the 3 demagogues?
- Father Charles Caughlin
- Francis Townsend
- Senator Huey Long “The King Fish”
Court Packing
Roosevelt wanted to remove the conservative justices from the court
How many times did FDR get elected to office?
4
Keynes vs Hayek
Often pitted against each other because they differed in views on how the economy should run
Dirty Thirties
Brought drought and misery
How did the Democrats suffer in the 1938 elections?
The New Deal came to a halt
Why did FDRs court-packing scheme fail?
It was controversial to the New Deal
Why did black leaders call the NRA the “Negro Run Around”?
NRA codes permitted lower wage scales for blacks, while the AAA led to the eviction of thousands of Negro tenants and sharecroppers
John Lewis
Head of the United Mine Workers
CIO
Committee on Industrial Organization
What was the Townsend Act?
Proposed giving everyone over the age of 60 monthly pension of $200 with the proviso that it mist be spent within thirty days
