Test #3 Flashcards
causes of the great depression:
- transition from WWI: wartime to peacetime economy
- unemployment- 25%
- overproduction
- inflation
- overextension of credit
- loack of diversification
- maldistribution of wealth- working class was broke
- world trade collapsed
- stock market crash in 1929
progressivism retreats- 3 republicans:
Harding, Coolidge, Hoover
-Hoover was in office when depression started, wes against the govt. helping civilians, thought of as “heartless”
hoover’s philosophy:
Trickle Down Theory
-weathy or successful people are the prime movers in the economy; govt. aid should go through
Reconstruction Finance Corporation
-one of Hoover’s organizations
-reorganizes business loans
what years does Franklin D. Roosevelt win
1932, 36, 40, & 44
who was the only U.S president to serve more than two terms?
Franklin D. Roosevelt
-didn’t finish the last 4 years b/c he passed away
Prime the Pump Theory
-put money into working class programss, they will spend that money and it will spread
New Deal
relief, recovery, reform
Workers’ Rights:
-AAA: provision for reducing crop production to end agricultural surpluses & halt the downward spiral of farm prices
-govt. would tell individual farmers how to produce & pay farmers subsides for leaving some of their land idle
-Fair Labor Standards Act: minimum wage= $.40/hr., overtime of 40 hrs, child labor
-Social Security Act: over *65 (now 70) recieved stipends from current workers (6.25%)
-Financial Reform:
Securities & Exchange Commission: regulates the stock market, audits books in quartery reports
-Glass Steagall Act: seperate banks, stock brokers, & insurance companies
-FDIC: Federal Deposit Insurance
Corporation: insured accounts up to $100k (now $250k)
work relief- govt. jobs:
-WPA (Works Progress Admin): 11 million jobs, $9b, infrastructure
-CCC (Civilian Conservation Corps): 3 million jobs
-recreational areas
-unmarried young men
-CCC was sexist, if women tried to apply, they would send them to the WPA
-PWA (Public Works Admin): courthouses, libraries, schools
-AAA (Agricultural Adjustment Act): farm loans, resettlement program, subsidies
-Rural Electrification Act: govt. owned electric companies, esp. in the south & west
-Tennessee Valley Authority: power to 6 southern states
Benefits:
-jobs x3 -flood control
-hydroelectric power -recreational areas
-reforestation -soul erosion control
-navigable river -reservoirs
-rates reimburse govt.
Legacy of the New Deal
-6 yrs
-does not end Depression
-alleviates suffering
-political realignment
-AAs, hispanics, women
-building project (still used to this day)
-national debt
-size of govt. increases
-workers’ rights
Court Packet Scheme
-created by FDR
-fill in later
global crisi
shift from isolationism to more international cooperation
what cooperations failed?
-League of Nations failed
-United Nations created in place
-Atlantic Conference failed to streamline currency
important in international trade
International Monetary Fund
Kellog-Briand Pact
60+ nations attempt to outlaw war
Good Neighbor Policy
historic shift in US-Latin American relations, our neighbors must be treated as equality
-Roosevelt was trying to establish peace w/ the neighboring countries, no threats nor wars w/ any Latin American countries
Neutrality Acts
US will remain neutral
Cash and Carry Policy
If other countries contries want American goods, they need to send their own ships and go back home w/o the help of the US to avoid our ships getting bombed again
Lend-Lease Act
50 ships loaned to Britain
Spanish Civil War 1936-1939
featured fascists vs. communist
-fascists won
Adolf Hitler
-Japan takes Manchuria from China in 1933
-Italy takes Ethiopia
-Hitler increases the size of the military
-Germany occupies Rhineland
-Germany annexes Austria & Sudentenland
-Western powers arrange Munich Conferences
what countries does germany conquer in the 6 months of fighting
-poland
-denmark
-norway
-netherlands
-belgium
-france
free france and vichy france
free france: govt. in exile
vichy france: nazi controlled regime
