Section 3 Flashcards
What were two other reforms?
Home owners loan corporation and the farm credit administration
What is the glass-steagall act?
Reformed the financial industry and created the Securities Exchange Commission
What does FDIC stand for and what does it guarantee?
Federal Deposit Insurance Corporation
Guarantees bank deposits
What does SEC stand for and what does it do?
Securities and exchange commission and it regulates trading practices in stocks and bonds
What subsidies farmers not to plant crops?
The agricultural adjustment administration
How much did gross farm income grow in 1935?
It rose by half
What did conservatives claim?
They claimed that the new deal had expanded government activity and increased regulation weakened the autonomy of American business
What did the “left” claim
They claimed the new deal had not reached the poor, including racial minorities.
-increase of strikes
What did the Wagner act do?
Guaranteed workers the right to organize Union and banned employers from using unfair labor practices
What did Social security act do?
Provided unemployment compensation, old age pensions and aid for dependent mothers
What did the banking act of 1935 do?
Increased the authority of federal reserve board
What did resettlement administration do?
Focused on land reform and help for farmers, many suffering from the dust bowl.
