chapters 31 + 32 Flashcards
Teapot Dome Scandal
Secretary of the Interior Albert Fall leased oil-rich public lands in Wyoming to private investors w/o competitive bidding. He received a bribe of $100,000
Republican laissez-faire economics
Lack of govt. regulation (laissez-faire economics) led to corporations expanding & antitrust laws being ignored
attack on Progressive legislation
The Supreme Court reversed previous rulings on progressive legislation
isolationism
Isolationism set in after the Great War (foreign policy approach where a country seeks to minimize its involvement in international affairs and conflicts)
Washington Naval Conference (Five-power Four-power, and Nine-
power treaties)
Disarmament between the major powers was the major focus of the conference (1921-22)
The Five-Power Naval Treaty limited the amount of ship tonnage available to the U.S., G.B., France, Italy, & Japan
The Four-Power Treaty bound the U.S., G.B., Japan, & France to respect the status quo in the Pacific
The Nine-Power Treaty aimed at keeping the Open Door commitment in China
Kellogg-Briand Pact
62 nations agreed not to engage in offensive wars (defensive wars were still permitted). The naval treaties & this pact lulled the U.S. into a false sense of security. Other nations continued to militarize, leaving the U.S. behind
Fordney-McCumber Tariff
Tariffs rose as high as 38.5%
Hawley-Smoot Tariff
The highest tariff in the nation’s peacetime history: 60%
McNary-Haugen Bill
Aimed to keep agricultural prices high by allowing the gov’t to buy up surplus goods & sell them abroad. Coolidge vetoed this bill twice
Dawes Plan
In 1924, the Dawes Plan rescheduled German reparations payments by allowing U.S. bankers to loan money to the Germans, who would then pay reparations to G.B. & France, who would then pay their debt to the U.S.
“rugged individualism”
The belief that anyone could be successful (Hoover)
Oct. 29, 1929
The stock market crashed on Oct. 29, 1929: “Black Tuesday”
Hoovervilles
Shanty towns that the unemployed built in the cities during the early years of the Depression; the name given to them shows that the people blamed Hoover directly for the Depression.
causes of the Depression
Overproduction by both farm & factory, unequal wealth distribution, overexpansion of consumer credit, buying stocks “on the margin,” financial problems in the U.S. & Europe (stemming from WWI)
Reconstruction Finance Corp.
Provided loans to insurance companies, banks, agricultural organizations, railroads, etc.
Norris-LaGuardia Anti-Injunction Act
Outlawed yellow-dog contracts, forbade federal courts from issuing injunctions for nonviolent strike behavior, & protected collective bargaining
Bonus Army
Veterans, organized through the American Legion, wanted “adjusted compensation” to replace lost wages due to the war
Stimson Doctrine
Stated that the U.S. would not recognize territorial gains made by force
“Good Neighbor” policy
Hoover sought to be a “Good Neighbor” to Latin American nations by abandoning the interventionism of TR’s time
Election of 1932
FDR vs. Hoover
The Brain Trust
Wrote FDR’s speeches
FDR’s “Three R’s”
Relief, Reform, Recovery
The First Hundred Days
More legislation passed than normal; first 100 days of FDR’s 1st term. Immediate goals = relief & recovery.
New Dealers’ Progressive Ideas
Unemployment, old-age insurance, conservation, development of natural resources, restrictions on child labor.
Emergency Banking Relief Act of 1933
Invested the President with power to regulate banking transactions and foreign exchange and to reopen solvent banks.
Fireside chats
FDR’s weekly radio reassurance to the public.
Glass-Steagall Banking Reform Act
Established the FDIC, insuring deposits up to $5,000 (now $100,000).
Civilian Conservation Corps
Provided employment for about 3 million young men in a variety of projects: reforestation, fire-fighting, flood control, etc. Pay was sent home to their families.
Federal Emergency Relief Act
$3 billion granted to the states for direct relief payments or for wages on public works projects.
Agricultural Adjustment Act
Paid farmers to plow under crops and kill livestock to eliminate price-depressing surpluses.
Home Owner’s Loan Corporation
Assisted ~1 million households in distress by paying mortgages to prevent foreclosures.
Father Charles Coughlin
Catholic priest who attacked FDR’s programs on his weekly radio program.
Senator Huey Long
“The Kingfish” from Louisiana who promoted a “share the wealth” program to give $5,000 to every family at the expense of the wealthy.
Dr. Francis Townsend
Proposed a pension program for the elderly.
Works Progress Administration
Spent over $11 billion on diverse public works projects. Jobs were found for people of all talents.
National Industrial Recovery Act
An attempt to regulate industry and raise prices.
National Recovery Administration
Designed to assist industry, labor, and the unemployed. It set up codes of fair competition, reduced hours, and granted labor more rights.
(Blue Eagle symbol)
Schechter Poultry Corporation vs. U.S. (1935)
Case that found NIRA unconstitutional (“sick chicken” case): Congress can’t use the commerce clause to regulate conditions in the poultry industry.
Public Works Administration (Harold Ickes)
Spent over $4 billion on 34,000 projects.
21st Amendment
Repeal of prohibition.
The Dust Bowl
Eastern Colorado to Western Missouri: topsoil taken up by high winds.
The Grapes of Wrath (Steinbeck)
Novel about the Dust Bowl and its effect on “Oakies” (1939).
Frazier-Lemke Farm Bankruptcy Act
Suspended farm mortgage foreclosures for 5 years.
Voided 1 yr. after passage by the Supreme Court.
Indian Reorganization Act (Indian “New Deal”)
Encouraged tribes to establish local self-government and preserve their traditions.
Federal Securities Act
Required promoters of stocks to transmit to the investor sworn info regarding the soundness of the stocks and bonds.
Securities and Exchange Commission
A watchdog administration designed to oversee stock transactions.
Public Utility Holding Company Act
Blocked the creation of supercorporations (holding companies), except where needed.
Tennessee Valley Authority
Reformed the corrupt power authority in the TN Valley. Federally-guided resource management example that was a lasting success of the New Deal.
Federal Housing Administration
Provided loans to individuals for new or improved housing.
United States Housing Authority
Lent money to states for low-cost housing projects.
Social Security Act
State and federal unemployment insurance & pensions for retired workers; also provisions for people with disabilities.
Wagner (National Labor Relations) Act
The NLR Board reasserted the right of labor to engage in self-organization and collective bargaining.
Fair Labor Standards Act (Wages and Hours Bill)
Established the 40 cent/hr. minimum wage and 40 hr. work week. Labor by children was forbidden.
Committee for Industrial Organization (CIO)
Broke from the AF of L in 1938, but regrouped in 1955.
20th Amendment
Shortened the “lame-duck” period between election and inauguration by 6 weeks.
Election of 1936
FDR vs. Alfred Landon.
John Maynard Keynes
British economist who believed planned deficit spending can turn the economy around; gov’t doesn’t need to maintain a balanced budget.
Roosevelt Recession (1937)
Showed that FDR had not fixed the economy with his New Deal policies.
The Black Cabinet
Informal group of advisors to FDR (20 members). Federal Council of Negro Affairs.
Frances Perkins
U.S. Secretary of Labor from 1933-45; first woman appointed to the cabinet.
FDR’s “court packing” plan
For every justice over age 70, another could be appointed. Good plan for FDR to override the conservative vote!
(Not successful)
Eleanor Roosevelt’s contribution
Great influence on FDR; she toured around the country and reported back to him. Advocate for women: gave press conferences only to female reporters! Advocate for civil rights: pushed for diverse hires for key positions. Delegate to the UN.
