FDR's New Deal Flashcards
1
Q
The Banking Act of 1933
A
-Placed restrictions on ‘speculative’ bank activities
-Stopped banks taking undue risk that could possible sink the US economy
-Central cause for unprecedented period of stability for the US in the 5 decades following 1933
2
Q
Federal Emergency Relief Administration 1933
A
-To give loans to the States to operate relief programs
-Main goal was to reduce unemployment by creating new unskilled jobs in local and state governments
3
Q
Social security Act 1935
A
-Offer ‘social insurance’ to senior citizens after poverty rates exceeded 50%
-Attempt to limit unforeseen and unprepared for dangers in life
-Many viewed it as a socialist and corrupting individualist American way of life
