exam 3 Flashcards
What did the US do because of the growing powers of Italy, Germany, and Japan?
Formerly recognized the Soviet Union (1933).
What did the Neutrality Acts stipulate? (3 things)
- No Americans could travel on belligerent ships. 2. No Americans to sell munitions to belligerent nations. 3. No making loans to belligerent nations.
What helped establish the FDIC?
The Emergency Banking Relief Act (1933).
This was enacted in 1934 to ensure no further nations could borrow any more money until all debts were repaid, even if they were back in war?
Johnson-Debt Default Act
What is the infamous day that the stock market crashed?
Black Tuesday, Oct 21 1929.
What was established to give U.S. Government direct oversight of relations between big biz and laborers?
National Recovery Administration
What was a measure by the U.S. that gave back independence to the Philipines and was also used to keep Japan kind of happy?
Tydings-McDuffie Act aka Philipines independent act
What were the two measures that Hoover took in response to the market crash?
- TRICKLE DOWN APPROACH- giving money to top big businesses which would allow them to hire back workers. 2. Gave money to agricultural groups to feed livestock…
What is the term for investors who would take out a loan and invest on it, selling it back quickly after a rise by paying back the loan and pocketing the rest?
Investing on margin.
The 3 things FDR has to say upon entering office:
- Fuck the investors. 2. The economic crises must be treated like a war. 3. “The only thing we have to fear is fear itself”.
What did the Banking Relief Act do?
Gave the fed gov the temp direct control over the nations bank, allowed pres to oversee trade, and established the FDIC?
A project funded by government to give older men work?
Works Progress Aministration
The best time for the allies to have crushed Hitlers early beginnings would have been when he did this?
Marched his armies into the Rheinland (the area between France and Germany).
Major components to stock market crash and great depression?
-European allies had not payed back WWI loans. -American public access to easy credit—consumerism. -INFLUX OF SPECULATION (investors inflating a stock hoping to cash out and make a quick buck. -INVESTING ON MARGIN. -The money used by investors was the peoples’ money.
What was created to give retired and unemployed folks money and allowed younger folks oppurtunity for employment?
Social Security Act