New Deal - Early Flashcards
What were Hoover’s problems conversely with Roosevelts?
- Hoover - do nothing President. Blamed Europe’s economy on depression, blocked Garner-Wagner Relief Bill providing $2.1b for jobs.
- June 1932 - General Douglas MacArthur asked to deal with servicemen camping outside White House for war bonuses, uses tear gas, Hoover glad mob dealth with.
- Roosevelt, believed in active government as Governor of NY, would spend public money, asked experts about issues, travelled 20,800km + 16 major speeches, won by 7 mil votes.
Outline Roosevelt’s upbringing.
August 1932 Franklin Delano Roosevelt, governor of NY, accepted the Democratic Party’s nomination as candidate in the November elections against Herbert Hoover. He offered a new deal. Was raised in New York, married Eleanor in 1905 and had 6 children, one of whom died, contracted polio 1921, showed self determination and inspired others. Roosevelt seemed to many indecisive and lacking in conviction but he had an infectious smile and this contrasted with Hoover’s defeat.
What was Roosevelt’s Brain Trust?
Brain Trust set, advisors such as Raymond Moley drafted speeches and developed principles; government/business cooperation; extreme socialist/laissez fair solutions bad; distrust of financies; balanced budget; reform business/regulation. Inspired by Jane Addams and Woodrow Wilson.
When was Roosevelt’s Inaugural Address and why was it a good time?
1932 Campaign speech in San Francisco.
Inaugural Address on 4 March 1933. Reassuring as banks were collapsing in February 1933 and Michigan and Maryland extended bank holidays to curb depositor demand. By 4 March 38 states had closed banks.
How were banks stabilised during 100 Days? (1933)
9 Mar - 16 June, progressives pass 15 bills. New Deal direction. 8 March first press conference, Roosevelt agrees two weekly, 9 March Emergency Banking Act to re-open banks, Beef-Wine Revenue Act ends prohibition and emergency economy of $500 mil, 13 March - banks re-open with more invested.
In 1934 how was the Gold Reserve Act established?
On 19 April Roosevelt abandoned his gold standard and forced a decline in the value of the dollar and an increase in the price of goods and stocks. People didn’t spend, investors were too afraid to take risks and so the government had to create more money and ensure unions didn’t reduce wages. On 20 June 1934 the Gold Reserve Act required all gold to be impounded in banks of the Federal Reserve.
What was the AAA- Agricultural Adjustment Act 1933?
AAA -
Farm subsidies, quantity of food reduced to rise prices, 6 million pigs slaughtered and focus in tobacco, wheat, and cotton. Acres of crops ploughed under - spring planting too late to stop. Farm income rose 58%, unconstitutional 1936. Promoted commercial enterprises over family and sharecropper contracts ended.
What was the 1933 Farm Credit Act?
Farm Credit Act – Short and medium term loans to enable farmers struggling with low incomes to keep their homes and land by mortgage refinancing, removing fear and giving security to farmers to raise production.
Who were the CCC, 1933?
Civilian Conservation Corps – Work for men 18-25 paying $30 a month, with $25 to families. Stayed in camps and organised on military lines working on regional environmental projects such as national parks, disbanded 1942.
What was the TVA 1933?
Tennessee Valley Authority had hydro-electricity production, flood control, education/health projects, environment conservation. 9 dams by 1936 across Virginia, North Carolina, Tennessee, Georgia etc. Utility companies tried to block dams, Rivers open for navigation, and new industries were attracted to these deprived states with provision of jobs.
What was the PWA, 1933?
Public Works Administration ran by Harold Ickes finances 34,000 projects federal to local, cost $6b. Established employment in housing, energy etc and included CWA, run by Harry Hopkins. Didn’t impact reduced unemployment, but gave 4 mil paid work on local projects, federal threatre projects inspired creativity, and Farm Security Administration commissioned photography free of censorship. $3.5 bil budget to create work.
What was the FSA and the CWA? 1933
Farm Security Administration commissioned photography free of censorship, but was accused propaganda. $3.5 bil budget to create work. Permanent road building such as Skyline Drive in Shenandoah National Park. 1933 winter, Harry Hopkins set CWA to rush people into work on projects at 40-60 cents an hour. Lasted 5 months, end of relief.
1933 - What were the National Industrial Recovery Act and the National Recovery Administration?
NIRA and NRA set codes for industry to control production, price, relations etc, ran by General Hugh Johnson. NRA ruled unconstitutional 1935, provided more jobs, 40 hour weeks, min weekly wage of $12-13 and none under 16 in work. We Do Our Part showed compliance but codes too restrictive with companies needing to produce more goods. Showed government value of stability.
What was the Glass-Seagall Banking Act, 1933?
Glass-Seagall Banking Act – Prohibited commercial banks from selling stocks or financing corporations, created Federal Deposit Insurance Corporation which guaranteed savings deposits up to $2500. Protected ordinary depositor from loss of savings, separating investment and commercial banks so investors’ money couldn’t be applied to stock market.
What was FERA, 1933?
Federal Emergency Relief Agency, FERA – Families paid relief benefits for taking work organised by government with $500mil to state and local governments. Suspended in 1935 due to WPA projects starting and financial aid given due to Social Security Act 1937.
