New Deal Timeline Q's Flashcards
1
Q
FDR’s % of the vote;
- November 1932
- November 1936
A
- 1932 : 57%
- 1936 : 61%
2
Q
Quote of FDR’s in 1933 on what the New Deal would be;
A
“well thought out blueprint for radical change”
3
Q
Dates of Congress’ 100days of cooperation
A
19th March - 16th June
4
Q
How many significant measures passed in 100 days?
A
16
5
Q
What was the 100days initially to deal with?
What did Roosevelt do?
A
banking
used it to take advantage of other problems
e.g farming
6
Q
Between what days was the Emergency Banking Act composed?
A
5th-9th March
7
Q
Moley “brains trust” quote on Emergency Banking Act
A
“American capitalism was saved in 8 days”
8
Q
When was the Trading With the Enemy Act passed? What did it allow government?
A
5th March 1933
Increased powers to govern banking
9
Q
What did the government do under the Trading with the Enemy Act?
What was the aim?
Why was this limited?
A
Establish 4 day Bank holiday
aimed to stop run on the banks
X32 states had already closed their banks
10
Q
When was the Emergency Banking Act passed? What body did it use?
A
9th March 1933
Reconstruction Finance Corporation
11
Q
What was the job of the reconstruction finance corporation?
What was the aim of this?
A
- legacy of Hoover’s
- buy bank stock and assume bank debt
to increase banks capital and soundness
12
Q
How did the RFC under FDR differ to Hoovers?
A
Hoover had LOANED money to banks
FDR was INCREASING their CAPITAL
13
Q
When did FDR announce banks would reopen?
How far was this successful?
By when had $1billion been deposited?
A
12th March 1933
3/4 open by end of March
Beginning of April - $1billion deposited
14
Q
Was the Emergency Banking Act and Bank Holiday successful? What evidence is there?
A
Yes - increased public confidence
$1billion registered in bank deposits
15
Q
What did FDR do in March 1933 to show he was cutting the budget?
Why did he do this?
What did this show about his economic spending?
A
Cut civil service salaries
and veteran benefits
Previously criticised Hoover for spending too much
Never abandoned fiscal conservatism
16
Q
When was the Securities Act for Regulating Wall Street?
What did it mandate?
A
May 1933
- those who issued misleading prospectuses liable as criminals
- full info whenever new securities were to be issued
- regular financial disclosures
17
Q
What did the Securities Act for Regulating Wall Street set up in 1934? What was its role?
What did it create?
A
Securities and Exchange Commission
Role:
- oversee stock exchange and punish wrongdoers
- prohibit buying stock on the margin
Created more equitable conditions for investors
18
Q
When was the Civilian Conservation Corps set up? When was it shut down?
Within 2 years how many did it employ?
During its duration how many men did it employ?
A
March 1933 - 1941
0.5million men in 2,500 camps within 2 yrs
3million men during its duration
19
Q
What was the minimum wage in the CCC? Why did FDR favour this approach?
A
$50 monthly
80% had to be sent back to family
Favoured jobs over creation of dependency
20
Q
Type of people employed within the CCC and numbers;
A
- no women
- 250,000 black
- 12,000 N.Americans
=strict segregation
21
Q
When was the TVA set up?
Where did it run through?
What did the standard of living in the 30s and 40s for those involved increase by?
A
May 1933
Tennessee and 7 of the poorest states
200% increase in standard of living
22
Q
TVA rate of electricity
National rate of electricity
A
$2.5kwH = TVA
$5.5kwH = national
23
Q
Why was the TVA unusual for its time?
A
- unusual entrance of gov into business
- 1st publicly owned electricity organisation
- gov in direct competition with utility companies
24
Q
When did the USA leave the gold standard?
When did Britain do this?
A
USA - June 1933
Britain - Sept 1931
25
When was the Glass-Steagall act? What was its main objective?
June 1933
Prohibit commercial banks participating in investment banking business
26
What was the aim of the Glass-Steagall Act?
decrease banks participating in speculative activity
restore public confidence
stop run on banks
27
What body did the Glass-Steagall Act introduce that can be seen as a reform? How long did it last until?
Federal Deposit Insurance Corporation
1999
28
Why was the Federal Deposit Insurance Corporation criticised in hindsight?
kept open many small banks which should have been nationalised
which was a key problem of the 1920s
29
When was the gold buying act?
What type of tactic was this? What was its aim?
october - december 1933
Warren-Pearson tactic
method of devaluing currency
30
What was the real damage of the gold buying act?
What did it show Roosevelt was doing?
critical time lost in a solution economists had foretold would not be successful
Roosevelt was experimenting
31
When was the CWA introduced?
How long did it last until?
November 1933
lasted until April 1934
32
How many people did the CWA provide temporary employment?
What was their average weekly wage?
4million
$15 weekly
33
Why was the CWA established?
What was it spending monthly and what does this show?
PWA was too slow to mobilise
established as form of immediate relief
spending $200monthly
= shows PWAs limitations
34
When was 21st amendment repealed? what did this lead to?
- wine production of Pacific coast
- grain demand
= tackles underconsumption
- gov now earning tax revenue again
35
When was the London Economic Conference?
July 1933
36
What X2 bodies did the National Industrial Recovery Act set up? when was it established?
November 1933
- PWA
- NRA
37
NRA caused production costs to increase by what? What did this do?
It was also responsible for what % of wage increases?
production costs = 40% increase
disincentivised hiring
26% of wage increases
38
Number of codes and % of industries the NRA went across
541 codes
| 90% of industries
39
NRA was an example of relief / reform / recovery?
relief - no direct / immediate relief
reform - in part due to increasing conditions / labor recognition
recovery - did not stimulate employment / production increases
40
How much was appropriated for the PWA?
How much did it spend in the first 6months?
What did Roosevelt do to mitigate this?
$3.3billion
only $110million in first 6 months
created CWA
41
Was the PWA successful with housing?
How many other construction projects did they complete in its lifespan?
limited with housing - only 25,000 units
34,000 projects
42
Building projects, opinion by Kirkendall
building projects didn't end the depression
but enabled people to survive who would have had an impossible time surviving without them
43
Who was the PWA run by?
What was his ideology clearly due to slow mobilisation of PWA?
Ickes
reluctance to deviate from self-help / limited government intervention
44
What was FERA?
When was it set up and how much was it appropriated?
Federal Emergency Relief Act
1933
appropriated $500million
45
Who would distribute the money provided by FERA?
What was its main limitation? Who acknowledged this?
states would distribute
= not direct government aid
- not enough to survive / stimulate consumerism / pay mortgages on
Hopkins himself acknowledged this
46
How much did the AAA pay in benefits payments?
Who funded this?
$1.5billion by 1936
paid for by food processors
47
How many Okies moved away due to dust bowl / being tenant farmers during 1930s?
300,000
48
What did the Butler vs USA decision cause in terms of farming?
- decline in farm prices
| - decline in amount government was expecting from tax receipts
49
Value of farm products;
- 1936
- 1932
- 1914
1936 - $7billion
1932 - $4billion
1914 - 1936 prices only 80% of this
50
What was the plan of the AAA?
What did this plan tackle in terms of the farming chain?
to increase crop prices by paying gamers a subsidy to compensate for voluntary cutbacks in production
tackeld overproduction - ignored underconsumption
51
What board was set up to review the NRA?
When?
What did it find?
What does this suggest about the NRA and big business?
National Recovery Review Board
1934
reported the NRA favoured big business > small
suggests NRA reinforced big businesses
higher production costs were disadvantage to smaller businesses
NRA was not as large a disadvantage to businesses as conservatives suggest
52
What was the role of the Securities and Exchange Commission?
What type of conditions did it create?
prohibit buying stock on the margin
oversaw stock exchange and punished wrong-doers
created better conditions for US businesses as was more equitable market for investors
53
How many workers went on strike in 1934?
What did this do in relation to the threat from the left?
1.5million workers
hyperbolised the threat
54
What did FDR do in relation to the tariffs set by Hoover?
Why was this actually beneficial?
did not modify them
allowing cheap foreign goods onto market would have destroyed any hope of increasing prices
55
What was the Trade Agreements Act? When was it signed?
What did it show about the New Deal?
1934
recognition that rejection of international cooperation had gone too far
gave FDR power to revise tariffs up to 50%
Never developed coherent trade policy
56
What X2 legislations in relation to housing were passed in 1934?
Federal Housing Administration
Home Owners Loan Corporation
57
Role of federal housing administration?
What did this stimulate and how?
gave federal insurance on special mortgages for those buying new homes
stimulation of construction industry via assisting provision of purchasing power
58
Role of home owners loan corporation?
When was it set up?
Was it successful?
protect individuals from home repossession via refinancing mortgages at more easily repayable rates
1934
no relief to unemployed - could not afford mortgage even at low rates
250,000 homes repossessed by 1937
59
What X2 pieces of farm legislation were introduced in 1934?
- Farm Mortgage Refinancing Act
| - Franzier-Lemke Federal Farm Bankruptcy Act
60
Role of Franzier-Lemke
Who did it aid?
When was it ruled unconstitutional?
restricts banks ability to repossess farms
aided farmers at risk of foreclosure
unconditional in 9:0 verdict May 1935 Black Monday
61
What Act was passed in 1934 in relation to Native Americans?
What did this do?
Indian Reorganisation Act
reversed Dawes Act
allows collective land ownership
advancement of cultural industry
62
Who ran the Indian Reorganisation Act?
What body / individual?
Bureau of Indian Affairs
John Collier
63
Farm foreclosures;
- 1931
- 1933
- 1937
- 1931 : 19
- 1933 : 39
- 1937 : 18
64
1934 Midterm elections information;
- democrats gain largest majority to date
69/96 seats in Congress
- increase in radicals
e. g farm labour party
65
What was the role of the Farm Mortgage Refinancing Act?
reschedule farmers debts
| to avoid foreclosures
66
What X2 bodies were involved in the Emergency Relief and Appropriation Act? When was this act passed?
1935
- WPA
- Resettlement Agency
67
How many people did the WPA employ in its existence? What % of these were women at its peak year?
How long was its existence?
8yr existence
8.5million people during duration
at peak year only 15% of workforce were women
68
What were the wages like provided by the WPA?
- more than relief
- less than private employment
- averaged $52 weekly
69
Who led the WPA?
What was he quoted as saying?
What was his position remembered as?
What had he previously led?
Hopkins
"give a man dole and you sink his body and destroy his spirit"
most powerful man in the administration after FDR
previously led FERA
70
What type of projects did the WPA engage in?
mass of variety and volume
_ 1.2billion school lunches
- 150 new airports
- Federal Theatre Project
71
How many did the Federal Writers Project employ at its peak?
6,000 journalists
72
What was the expenditure of the WPA between 1936-39?
$7billion
73
What was a limitation of employment by the WAP?
- wages less than private business
| - employment only for one year
74
What shows the extent to which the WPA supported a large proportion of the population?
What does this show?
20% of the male workforce at one point had worked for the WPA
Shows the New Deal was a temporary holding measure, not a solution
75
What was the WPA not allowed to do, a clause which appeased big business?
not allowed to do large scale projects
76
What was the situation with the arts subsidies and the WPA?
stability and want to decrease expenditure meant arts subsidies scrapped in 1939
however popularity meant all states found local sponsors to continue to fund the programmes
77
Resettlement Administration led by who?
What was his aim?
Tugwell
move 500,000 to Greenbelt sites
78
How successful was the Resettlement Administration?
only 4,440 families moved
Only X3 greenbelt sites created
79
What do historians see Roosevelt's wealth tax act as being an attempt to?
steal Huey's thunder
80
What was notable about the right's influence on the Wealth Tax Act?
- abolished inheritance tax
- reduced corporation tax
- successfully voted out corporation tax in 1938
81
What was the legacy of the Wagner Act in terms of government and labour?
What did the Wagner Act set up?
committed government to long-term role in labour relations
National Labour Relations Boards
82
% belonging to Unions;
- 1933
- 1945
- 1933 : under 10%
| - 1945 : 35%
83
What strikes in the 1930s suggested Wagner act was disadvantage of the right / corporations?
1936 US Steel and GM sit in strikes
= loss of productivity
= government refuses army support for corporations
84
Following the Wagner Act what happened to the demographic of Roosevelt's supporters?
increased political support for the Democratic party
85
What corporation tackled the Wagner Act?
Were they successful?
When was the verdict?
US Steel
Unsuccessful (5:4 constitutional)
April 1937
86
When did the Bonus Marchers approach FDR for the 2nd time?
What was his repose?
1935
vetoed their bonus payments
argued government should be careful w/ money
87
What did the Wagner Act provide unions?
- employers could no longer fire based on union membership
- right to join unions
- right to collectively bargain
- energisation of union formation
88
Who did the Wagner Act not apply to?
What was notable about African Americans?
Wagner didn't apply to domestic / agricultural workers (anyone involved in intrastate commerce)
65% of African Americans worked in these occupations
89
Who was a mass supporter of the Wealth Tax Act?
La Follett of the left's progressive party
90
When did Townsend's OAPI peak?
following the social security act
1935
2.2million
91
What was notable about the introduced of the SSA?
What happened to prices due to the SSA, why?
- first measure of direct help
| - prices rose as employers funded their contributions via increasing their profits
92
How were pensions funded?
What did they range from?
employer funded
employee contributions
$10-$85
93
how was unemployment insurance funded?
payroll taxes
94
Due to the social security act how much was taken from wage earners, since the scheme was self-financing?
What is it consequently arguable?
$2billion
arguably that attempts to increase purchasing power were undermined
95
Unemployment benefit;
- payment
- duration
- $18weekly
| - max of 16weeks
96
Who was exempted from the SSA?
- domestic / agricultural workers
97
What was the legacy of the SSA?
breakthrough in government tradition
Showed people they had socio-economic rights which should be protected by the government
Never before was there a direct relief system
Sent message government cared
98
When was the Schechter Poultry Corp case?
What was the verdict?
Why was this the verdict?
May 1935 - black monday
9:0 unconstitutional against the NRA
Argued that the NRA was involving itself too much in intra-state commerce
99
PUHCA was popular where?
Was not popular where?
popular in public-power conscious Pacific North West - saw FDR as with them against big business
voted down, even by Democrats, in the East
100
Who did companies have to register with under the PUHCA?
Securities and Exchange Commission
101
What did the PUHCA achieve?
rid the capitalist system of some of its worst excesses
strengthened system + public confidence in it
102
Who was governor of federal reserve at time of banking act?
What did he believe was the situation?
Eccles
Thought wall street had too much power
103
Conditions on the Banking Act of 1935
- banks can elect their own heads
- rediscount change decisions made by federal government
- banks had to register with and accept Fed's authority
104
Examples of New Deal posing a hinderance to private businesses;
- NRA 1933
(although National Recovery Review Board suggested gave big business an advantage)
- WAGNER 1935
energised union formation
e.g GM / US Steel Sit In Strikes 1936-37
- WEALTH TAX ACT 1935
although successfully reduced to only symbolic significance
- FAIR LABOUR STANDARDS ACT 1938
increased wages for 300,000
decreased hours for 1.3million
105
Union membership for women increased from what to what during the New Deal?
from 250,000 in 1933
to 500,000 in 1945
106
In 1945 how many in unions;
- men
- women
Name reasons for this;
- men : 14million
- women : 500,000
Fewer women in the workforce in general
Male hostility towards female union membership
107
Budgets and deficits;
- 1936 Budget & Deficit
- 1937 Budget & Deficit
- 1936 :
spending $8.4billion
deficit $4.4billion
- 1937
spending $7.7billion
deficit $2.7billion
108
Number of rural farms with electricity;
- 1936 : 12.5%
- 1939 : 25%
What was the increase in the number of famers which gained electricity due to the REA?
- 1936 : 12.5%
- 1939 : 25%
1. 5million farms benefit
109
What is the REA credited for doing?
- bringing 1.5million more farms electricity
- modernisation of farming
- increasing demand for electrical goods
110
When was the soil conservation act passed?
What was its action?
What was a criticism of it?
6 weeks following Butler vs USA case
payments for crop reduction via soil conservation practices
like AAA - large scale farmers had the most to gain
111
Butler vs USA decision
verdict / votes
when?
6:3 unconstitutional
January 1936
112
1936 Presidential election details;
- FDR : 61% (27.7million) had increased majority
- LANDON : 36.5% (16.7million )
- LEMKE (NUOSJ) : 880,000
H.L assassinated in Sept 1935
- BROWDER : 79,000
Election participation : 62% (had increased)
113
Value of farm products;
- 1932
- 1936
Why was this still limited?
- 1932 : $4billion
- 1936 : $7billion
Still only 80% of their 1914 level
114
What was cancelled in 1937 in relation to federal relief?
What effect did this have?
no more aid to be given to alines
reduced costs
effectively closed the Mexican border
115
What did not pass in 1937?
Why can it be suggested that this was not simply a result of the Judiciary Reform Bill?
- Anti-lynching Bill
- FDR always required support of Southern Democrats
- it did not pass in 1934 - even when FDR had support of SC and Congress
116
What type of opposition was formed following FDR's JRB?
How can their influence be seen?
conservation coalition opposition
made up of southern democrats and conservatives
made gains in 1938 mid-terms
117
Following the Roosevelt recession what stimulus package did Roosevelt ask Congress for?
Where did this money go to?
What was a limitation of this money?
$3.75billion
went to funding WPA / PWA
no where near the amount spent during the war
118
During war what was the increase in spending?
- 1939
- 1941
- 1944
- 1945
1939 : 40% of GDP
1941 : $41billion
1944 : 80% of GDP
1945 : $260billion
119
When was FDR's special congressional session?
What was issued?
What was achieved?
How many senators were rural?
November 1937
Conservative manifesto
None of FDR's legislation passed
54/96 senators rural
120
Evidence for increased stability of financial system in 1936
no bank closures for first time in 50years
121
African American voter realignment, number of wards where FDR gains majority;
- 1932
- 1936
- 1940
What happened to FDR's % of the VOTE 1932-36?
- 1932 = 4/15
- 1936 = 9/15
- 1940 = 15/15
1932-36 : FDR's A-A vote X2
122
African Representation in 1936 in politics
- 30 A-A delegates at democrat convention
| - 1st African-American Congressman (Mitchell)
123
Number of sit down strikes;
1936 -
1937 -
Arguably caused by what?
1936 : 48
1937 : 477
Wagner Act gave unions right to collectively bargain and energised their formation
More people were union members
124
Wagner-Steagall housing act : started when?
How many homes did it build?
What was its key success?
What did it establish?
1937
only built 160,000
key success was created vermin free areas, regeneration and so building confidence
established United States Housing Authority
125
What did the Untied States Housing Authority provide?
Why was a housing authority needed?
Was it successful?
$500million in loans for low cost housing projects
public-works projects had not dealt much with housing
small gesture toward housing - but nowhere near enough
126
In What year did production surpass 1929 levels, albeit only briefly?
1937
127
When did FDR request the $3.75billion relief budget?
April 1938
128
When were the post-dust bowl rains?
How many did it make homeless?
What was the effect of this?
1937
150,000 homeless
removed surplus workforce
= left remaining large, more efficient farms
129
When was the Farm Security Administration set up?
What did it provide farmers?
How much had been spent by 1941? How many families availed of these loans?
Why couldn't it accomplish anything large scale?
1937
rehabilitation loans to purchase family sized farms on low interest
$1billion by 1941
900,000 families
didn't have representation in congress so couldn't accomplish on mass scale
130
What X2 New Deal legislations contrasted each other in their agendas?
- Farm Security Administration
| - Resettlement Agency
131
The Federal Farm Mortgage Corporation had refinanced what % of farms by 1940?
How many farms was it still saving daily?
20% of farms remortgaged
Still saving 300 farms daily
132
Evidence that government spending was in fact working and that there was some recovery in the economic climate under the New Deal?
When Roosevelt reduced the budget by $0.7billion in 1937 unemployment increased from 6million to 10million
which was 20%
133
Impacts of Roosevelt abandoning deficit spending in 1937
- farm prices drop 20%
- unemployment increases (6mil ---> 10mil)
- car production down 50%
- stock market down 30%
- 68% of new deal gains wiped out
134
What does Roosevelt abandoning deficit financing in 1937 show?
- inherently an economic conservative
- that his spending prior to 1937 was 'timid'
- shows New Deal was a 'holding exercise' not a solution
135
Why were most loans, given by the Farm Security Administration, repaid successfully?
How many farming families had borrowed?
What was the value of these loans in total?
repaid successfully due to increasing farm prices - especially during WWII (250% increase)
900,000 families
$1billion in value
136
When was housing tackled as a priority?
What evidence is there of not being tackled successfully in the New Deal?
In FDR's Second Bill of Rights
= families have right to a decent home
Wagner-Steagall act only provided $500million
only built 160,000 homes
Public Works Administration only produced 25,000 homes
Resettlement administration only formed X3 Greenbelt sites
137
What was evidence that the Securities and Exchange Commission was working and that reform had been implemented in insider dealing?
R. Whitney was imprisoned for embezzlement in 1937
Whitney was President of the New York Stock Exchange
138
What was the significance of Fannie Mae's set up?
Who did it mainly benefit?
What was its other name
supposed to ease trade in mortgages
largely only benefitted white Americans
Federal National Mortgage Association
139
What were acts like the Resettlement Administration, Federal Housing Administration, Wagner-Steagall Housing Act and Fannie Mae's set up meant to encourage?
Increase in home ownership
idea of a property owning democracy would be an antidote to the 'red revolution'
140
What happened in 1938 which demonstrated the continued influence of the right?
What type of significant election did this follow?
What did this suggest the mood for government was?
What did this reduce the effectiveness of?
- Congress vote out CORPORATION TAX
- followed 1938 mid-term congressionals
the right had made gains : increased X2 representation in the house and 8 senate seats
mood for less government intervention
reduced wealth tax act's effectiveness
141
What were the clauses in the Fair Labour Standards Act?
- minimum wage $0.25 cents per hour
- prohibits child labour
- 40hr week
142
What was the significance of the Wagner Act and other labour related acts?
recognised providing wages was a way to stimulate consumption
which was vital for recovery of economy
143
What was the Gueffey-Snyder Act?
When was it passed?
What was it catalysed by?
fairer labour standards for coal industry
1937
catalysed by Wagner Act
144
When did USA begin rearmament?
With what capacity did they rearm?
What does this suggest about the recovery of the New dEal?
December 1938
mass industry capacity present
2/3 of steel factories still idle
unemployment still 9.5million in 1939
suggests New Deal was more a provision of relief rather than recovery
145
In 1939 how many people still required relief?
What was relief expenditure in;
- 1925
- 1930
- 1940
- 1925 : $0
- 1930 : $9million
- 1940 : $479million + $480 on unemployment relief
146
How many African americans had held WPA jobs?
How many had held CCC jobs?
What was the increase in African Americans with civil service jobs?
How many African Americans in 1939 were receiving relief? What fraction of housing weren't to African-Americans>
- 1million WPA jobs
- 250,000 CCC jobs
- X3 increase in civil service
- 35% of African-Americans receiving relief
- 1/3 of housing
147
Net personal income;
1929 -
1939 -
What had population increased by?
Why was this not necessarily as bad as it seemed?
1929 - $86billion
1939 - $73billion
population increase - 9million
prices had decreased
148
what did the % of married women in the workplace increase by? from what to what
What was their income like?
increase from 11.5% to 15.5% of married women working
women's average wage still have of man
%525per annum
some legislation that married women could not work for federal government if their partner did
149
Why did the Fair Labour Standards Act omit certain types of professions?
What professions were these?
Name another act these professions were also limited from
to pass through Southern Congressmen
farming / domestic service
also restricted from Wagner act
150
Unemployment;
- 1932
- 1933
- 1936
- 1937
- 1939
- 1932 : 24%
- 1933 : 18millin
- 1936 : 6million
- 1937 : Roosevelt recession
10million
- 1939 : 9.5million (17%0
151
Average wages;
- 1929
- 1939
Net total personal income
- 1929
- 1939
Wages;
- 1929 : $25.03
- 1939 : $23.86
Net total personal income;
- 1929 : $86billion
- 1939 : $73billion
152
Executive Offices of the President passed via what means?
Why was this method of passing notable?
When?
via executive order - in defiance of Congress
Shows the extent to which FDR had lost control of Congress
September 1939
153
What did the Executive Offices of the President creation see FDR recognising?
- that government involvement would be increased and permanent
154
What did the creation of the Executive Offices of the President do?
- expansion of staff
- promotion via merit
- increased development of government departments
155
What can the Executive Offices of the President be seen as a response to?
- natural progression of New Deal
| - response to increasing militarisation and WWII on horizon
156
What does Schlesinger see the 3rd New Deal as?
government response to Roosevelt recession
permanent government spending to solve economy problems
157
What was the role of the 2nd AAAA?
When was it set up?
replace the first AAA which was ruled unconstitutional
- provided FOOD STAMP PLAN to those on relief
= $0.50 centre worth of surplus for every $1 spent on groceries
- of increasing benefit to smaller farms
= used quota system rather than paying land owners
158
What were the loans like provided by the Wagner-Seteagall housing Act?
What could homes built under the W-S Housing Act be rented out for?
could be up to 100% - at low interest to stimulate consumption
could rent as low as $15 weekly
159
What was the amount of unemployment benefit paid out weekly?
How many weeks could it be paid out for?
$18weekly
16weeks
160
Limitations of the New Deal;
- unequal distribution of wealth still
= roughly constant in 1920s as in 1930s
- housing shortages / displacement
- not too much done to close UNIT banks
- big business power still present
161
Corporation Profits;
1932 -
1936 -
1932 - -$2billion (in the negative)
1936: $5billion (in the positive)
162
How many workers in different industries went on strike during 1934?
1.5million workers
163
The Public Utility Holding Company Act faced most opposition from whom?
What was the role of the Supreme Court in the PUHCA?
- big businesses and the East (even democrats)
SC mandated that all companies had to register in accordance with the PUHCA
164
What body attacked the Wealth Tax Act in 1935?
US Chamber of Commerce
165
What was clear about FDR's win and big cities?
won all cities of over 100,000 people
| apart form X2
166
What type of Democrat was increasingly drawn to Liberty Leaguers during the 1930s?
Why?
Give an example
Wilsonian
believed FDR had abandoned principles of equality of opportunity
Al Smith
167
What was the 2nd New Deal more an example of in terms of its direction?
The administration addressing the public's concerns
involving itself increasingly in the lives of the public
Schlesinger: reintroduction of competition with regulations on fair play
168
What did Schlesinger see the first new deal as?
reducing competition to favour cooperation
e.g AAA / NRA
169
How would the 2nd AAA be funded?
How was this different to the 1st?
What was this an example of?
Entirely federally funded
Included no processors tax
Example of FDR accepting increasing deficit finance as means to recovery
170
What did Keynes describe Roosevelt as?
an "economic illiterate"
171
How much stock did the RFC hold in US banks?
held stock in 50% of US banks by 1935
172
Which states mainly suffered from the Dust Bowl?
- Kansas
- Texas
- Oklahoma
173
What did the coal code not include?
Why was this?
- hours / wage conditions
- large part of the workforce were African-Americans
= so required the code to be lax to pass the through
174
What did Ford do in relation to striking workers?
When did he finally accept them?
hired strike breakers to beat up / replace strikers
only accepted strikers in 1941
175
Kirkendall's view on building programs
Didn't bring the depression to an end...but enabled people to survive who would have had an impossible time surviving without them
176
What was the fundamental failure of the Glass-Steagall Act?
What R does this suggest was not successfully tackled?
Did not reverse the McFadden act and prohibit UNIT banking
Suggests banking REFORMS were not adequately tackled
177
% of women employed in peak year;
CCC :
CWA :
WPA :
CCC : 0%
CWA : 7%
WPA : 15%
178
Which Act was actually a Republican measure which was too slow to pass?
What was a fundamental limitation of this act?
Glass-Steagall Act June 1933
Limited in that it did not address 1927's McFadden Act which prohibited branch banking in many states
179
Ways in which the TVA helped consumers;
- lower electricity prices (more people could access / more disposable income)
- massive employer
- standard of living increased 200% for those involved
- tempted industrialists into Tennessee and the 7 states it ran through
180
How could the TVA be considered discriminatory;
TVA's fertiliser program did not provide for traditionally African-American agricultural colleges
181
How could the Fair Labour Standards Act of 1938 be considered to fuel discrimination
Why did this not massively fuel discrimination
set a minimum wage of $0.25 hourly
which incentivised businesses to hire predominantly white workers
did not massively fuel discrimination since 1937 legislation which refused federal aid to 'aliens' already saw decrease in number of immigrants
182
Who was in charge of the National Youth Administration
How many students involved
How many non-students
How did it differ from the type of people employed in the CCC?
When was its African-American division set up?
Aubrey Williams
2. 1million students involved
2. 6million non-students
Women were permitted
Negro Division from 1937
183
Quote of Roosevelts about how the New Deal must be passed;
What was he referring to?
"I did not choose the tools with which I must work"
New Deal required many groups to support it and pass its legislation in order to be implemented - FDR required the support of Southern Democrats who were often segregationist
184
Argument for why the Wagner Act was not disastrous for businesses?
some businesses regard unions as more controllable than wildcat strikes
185
How was the National Youth Administration enforced?
Under what existing branch did it form under?
via executive order
formed under WPA
186
What did the 2nd CCC include?
X3
- commodity credit corporation
- food stamp plan
- quota system
187
Major criticism of the Federal Deposit Insurance Corporation
kept open many small banks which should have been nationalised
DECREASED THE URGENCY of calls to allow BRANCH BANKING
questionable how far reform was achieved if fundamental weaknesses were the basis of such
188
Why was the Gold Purchasing Plan a failure? X2
- it did devalue the dollar - but failed to impact commodity crisis by increasing prices
- wasted time on a solution economists foretold would not work
189
What was the aim of the Gold Purchasing Plan?
to devalue the dollar
which was hoped to be a REFLATIONARY TACTIC to increase COMMODITY PRICES
190
How many home mortgages did the Home Owners Loan Corporation Purchase?
1million
191
Who wrote the NRA codes?
What does this explain?
Who predicted this?
NRA codes written by the heavyweights of the industries who they were for
Explains why National Recovery Review Board found they favoured big business
Huey Long predicted this
192
Who made the largest contribution to democratic party funds by 1940?
What does this exemplify?
Unions
shows how the Wagner Act energised their formation
shows how blue-collar voters were becoming increasingly loyal to FDR
193
How can the Farm Security Administration be seen as providing some form of relief?
When were the post-dustbowl rains?
How many were left homeless?
set up X30 temporary camps to house displaced farmers
Post-dustbowl rains : 1937
150,000 left homeless
194
Who wanted to stick to balancing the budget who was in a prominent position within the New Deal?
Morgenthaul
Secretary of the Treasury
195
What did Perkins describe the motivation behind the New Deal as?
helping the 'forgotten man'
