New Deal 1933-45

Question 1

When was the First New Deal

Answer 1

1933-35

Question 2

Hundred Days

Answer 2

The time of relief and legislation under the first ND aimed to tackle immediate problems

Question 3

Banking Finance Relief Act year

Answer 3

1933

Question 4

Consequence of Banking Relief Act 1933

Answer 4

Provided relief to smaller banks and prevented further collapse, restored some confidence in banks

Question 5

Consequences of Glass Steagall Act 1933

Answer 5

Reduced power of banks and placed measures federally to prevent previous speculative mistakes, made banking more secure

Question 6

Why was Agriculture prioritised over industrial relief

Answer 6

30% of labour force worked in agriculture

Question 7

What does AAA stand for

Answer 7

Agricultural Adjustment Act 1933

Question 8

AAA role

Answer 8

Agricultural Adjustment Administration would subsidise farmers to reduce their acreage and production to tackle overproduction,

Question 9

AAA funded

Answer 9

Self funded through a tax on companies that processed food

Question 10

What was the produce of over production

Answer 10

Cotton: By 1933 unsold cotton in USA exceeded annual world consumption

Question 11

How did the AAA help with overproduction of cotton

Answer 11

10.5 million acres were ploughed which meant by 1933 price of cotton rose from 6.5 to 10 cents per pound

Question 12

What was the negative aspect of AAA

Answer 12

Caused public outcry at slaughter and destruction of food considering many were starving (some dead carcass was used to feed the unemployed)

Question 13

How popular was the AAA

Answer 13

95% of farmers signed up in its first year

Question 14

What did the AAA achieve

Answer 14

1932-35 total farm income rose from 4.5 to 6.9 billion

Question 15

What corporation managed under the Banking Relief Act

Answer 15

RFC- Reconstruction Finance Corporation

Question 16

Banking relief act detail

Answer 16

RFC authorised to buy stocks and take on debts of collapsing banks

Question 17

What bank became the largest in the world

Answer 17

RFC- Reconstruction finance corporation

Question 18

What were the main aims for industrial recovery

Answer 18

To get people back to work as unemployment was at 25% by 1933, to increase consumer demand

Question 19

What does NIRA stand for

Answer 19

National Industry Recovery Act 1933

Question 20

What administrations did NIRA include

Answer 20

National Recovery Administration (NRA) and Public Works Administration (PWA)

Question 21

What was the aim of the NRA

Answer 21

To promote fair practices in businesses to compromise between gov, industry and unions such as suspending anti trust legislation for two years

Question 22

What did the NRA promote businesses to do

Answer 22

Do not use methods such as price cutting, maintain the minimum wage and working conditions

Question 23

What was the ‘Buy Now’ campaign a response to

Answer 23

Used by Roosevelt to encourage people to spend to stimulate production due to ineffectiveness of NRA

Question 24

When was the NRA ruled unconstitutional

Answer 24

1935 by SC

Question 25

Why did the NRA fail, three reasons

Answer 25

Implemented rapidly without clear planning, many large firms such as Henry Ford did not participate, small firms could not afford to comply with codes such as the minimum wage

Question 26

What did the PWA do

Answer 26

Through pump priming federal gove invested 3.3 billion dollars into public works projects such as hospital, school or road building

Question 27

What was the aim of PWA

Answer 27

Aimed to stimulate areas of economy which would catalyse other industries and increase demand throughout economy

Question 28

Successes of the PWA

Answer 28

Put many to work, helped development of public works such as 50,000 miles of roadwork, pumped money and stimulated economy