FDR and First New Deal Flashcards
what were the four aspects of FDR’s first new deal
Agriculture
Banking
Industry Reform
Relief
why was agriculture a priority for FDR
30% of labour force worked in agriculture
what were the two main acts/ authority in FDR’s agriculture new deal
Agriculture Adjustment Act 1933
Tennessee Valley Authority 1933
what did the AAA do and when was it passed
-gov subsidised farmers to reduce average and production so cost of food and farmers wages would increase
-AAAdministration paid farmers to reduce staple production eg corn cotton and tobacco
-killed 6miklion piglets
give 3 stats that show the agricultural first new deals success
-cotton prices rose from 6.5 cents a pound 1932 to 10 cents in 1933
-total farm income rose from $4.5 billion 1932 to $6 billion 1935
- 95% tobacco farmers signed up for AAA agreements
when was the TVA set up and what did it do
1933; dealt with poverty and underdevelopment in TV by modernising and improving living standards
constructed 20 dams to cotton floods from River Tennessee
produced hydro electric power in an area where electricity supply was limited to 2/100 farmers
give a stat that proves the success of the TVA in the first new deal
residents avg income inc by 200% between 1929-1949
give every act used to help Banking and Finance in the first new deal
Glass Steagull Act 1933
Truth in Securities Act 1934
Securities Act 1934
1934 Gold Reserve Act
what did the Glass Steagull Act do
1933; small banks banned from investing banking
authority over open market operations transferred from Fed Reserve Banks to Fed Reserve Board in Washington
what did the truth in securities act do
1933; required brokers to offer clients realistic information about the securities they were selling
what did the securities act do
1934; set up the Securities Exchange Commission to oversee stock market activities and prevent fraudulent activities eg insider dealing
what was FDR’s main change to finance
USA taken off gold standard to bring down value of dollars in international markets WHICH WORKED IT FELL TI $0.85 in gold
give 3 issues with FDR’s changes to baking and finance in the first new deal
-didn’t majorly affect economy
-prices did not rise significantly
-EU was badly effected by unstable dollar value
what were FDR’s main aims for industry
get ppl back to work and increase consumer demand
what were the main acts for FDR’s industrial reform in the first new deal
National Industry Recovery Act 1933
(NRA AND PWA)
Civil Works Administration
what was the two main parts of the National Industry Recovery Act
National Recovery Administration and the Public Works Administration
what did the NRA do
-oversaw industrial recovery
-powerful businessmen benefited from suspension of anti trust legislation of 2 years to promote industrial expansion
-firms encouraged to regulate unfair competition eg price cutting and agreed minimum wages for each industry
what happened to the NRA IN 1935
ruled unconstitutional and was unsuccessful as it may have helped businesses become more exploitative
what did the PWA do
-pump priming funded with $3.3billioj
-expenditure in public works eg 50,000 miles of roads 13,000!schools
-put ppl back to work
what did the Civil Works Administration do
1933 ; made and funded with $400 million grant from PWA to provide emergency relief for unemployed during 1933/4 winter
-4million to work on public works projects
failed and had to turn to relief measures
what was the relief act under the first new deal
Federal Emergency Relief Act 1933
when was the Federal Emergency Relief Act and what did it do
1933; gave $500million divided between states for unemployed (half spent on outright relief and the rest was paid $1 for every $3 spent in relief)
-each state had to set up relief programmes and when states refused they were denied public monies
give a reason and an example why the relief in the first new deal was not effective
states were unwilling to provide relief eg workers for relief programme were refused office space
give a stat from 1935 which showed the ineffectiveness of the relief
1925 $25 was given to families per month but minimum survival wage was $100
what alphabet agency was set up for relief in 1933
Civilian Conservation Corps
what did the CCC aim to do
Department of Labour would recruit men age 17-24 in national forests/parks/public lands
what extension showed the success of the CCC
CCC originally set up for 2 years but extended for a further 7 years in 1935
give some figures about the CCC’s work
installed 65,100 miles of telephone lines in inaccessible areas
planted 1.3 billion trees
what act provided relief for native americans
Indian Reorganisation Act 1934
what did the Indian Reorganisation Act do and when was it
1934; did away with Dawes Severalty Act 1887 and encouraged NA culture and tribes reorganised into self governing bodies with their own constitutions/ policies/ legal systems
give two reasons why the Indian Reorganisation Act 1934 was not effective
-75/245 tribes voted against these measures since democracy was a ‘white concept’
-still did not provide relief for poverty, just a token gesture and did not understand NA wants
