roosevelt: new deal 1933-1941 Flashcards
john m keynes
economist, theories are basis for more NON communist economies ( gov during depression need to pump economy by increasing spending & creating easy money) AFTER depression gov needs to decrease spending
pump priming
refers to heavy government spending to stimulate expenditures by private businesses
direct spending
deficit spending when gov spends more than they make thus borrowing against the future, gov hopes to increase nation productivity & consumption to push out of depression
bank holiday 1933
FDR declared all banks to be closed 3/6/1933 allowed economically sound banks to reopen later
100 days 1933
FDR asked congress to stay in session from 3/9 to 6/16 after his inauguration ( during many new deal
programs forced by congress )
relief, recovery, reform
FDRs outline for new deal program (relief for workers & unemployed) (recovery for nations economy) (perm reforms to prevent economic maladjustments)
brain trust
group of elite, reform minded intellectuals who advised roosevelt how to deal with struggling economy
emergency banking relief act 1933
president received the power to regulate banking & foreign exchange rate
banking act 1933
created federal deposit insurance corporation insured individual deposits of up to 5k and helped end the epidemic of bank failures
national industrial recovery act
granted workers the right to organize and bargain collectively ( later declared unconstitutional )
public works administration
carries out many heavy construction projects by working through private construction firms (helped relieve unemployment)
agricultural adjustment act
paid subsidies to farmers to reduce acreage of basic crops (reduction in basic crops, severe droughts increased prices, inc in farm income, act was deemed unconstitutional bc it was invasion of states’ rights
unemployment relief act
created civilian conservation crops employed 3 mill men to replace trees in forest, fight fires. prevent floors & drain swamps ( required to give part of their income to their families )
federal emergency relief act
has $3 billion to give to states that needed money for welfare payments or for wages on work projects
home owners loan corporation
authorized to loan money to mortgage holders faced with loss of their property
civil works administration
created to provide millions of jobs during winter of 1933 nov 1933 - may 1934
muscle shoals act
created tennessee valley authority which had power to buy land in tennessee valley for construction of hydroelectric plants provided cheap electricity and full employment for the area
national youth administration
created part time jobs for 2 million high school and college students helped 400,000 students continue their education
wheeler-howard indian reorganization act
attempted to undo the damage done by dawes act by restoring tribal ownership of reservation lands and giving indians credit for land purchases
federal housing administration
provided small loans to homeowners who wanted to remodel homes or construct new homes
securities exchange act
required stock exchanges to obtain licenses form the securities and exchange commission, has power to register securities
rural electrification act
authorized to build power plants and high tension lines in rural areas
works progress administration
created to build schools, line and cultural centers ( employed musicians, painters & writers as part of federal arts project )
national labor relations act
created national labor relations board to replace NRA reasserted laborers right to organize and bargain collectively and pushed for the organization of unskilled workers
