The Great Depression and the New Deal Flashcards
Considered by many to be the most significant act passed during the New Deal
Established a system that would give payments to Americans after they reached retirement age
Included provisions for unemployment and disability insurance
Social Security Act of 1935
Established by Herbert Hoover to offset effects of Great Depression
Authorized to give credit to banks to assist their operations
Banks receiving these loans were expected to extend loans to businesses providing jobs or building low-cost housing
Reconstruction Finance Corporation
“an equitable shared abundance”
government had obligation to establish “democracy of opportunity for all people”
poor men “are not free men”
threat to economic freedom by the “new despotism” of large corporations
Democrat Conception of Liberty
Idea of “freedom for private enterprise”
Republican Conception of Liberty
Led by Upton Sinclair
Called for the state to use idle factories and land for jobs
Advocate for stronger action to help individuals
End Poverty in California Movement
Accumulated fortune as mining engineer
Coordinated overseas food relief
Called “the only man” to emerge from Versailles “with an enhanced reputation”
Wrote a book called American Individualism
Beat Alfred Smith with over 58% of the popular vote
Herbert Hoover
“For the first time in our history, the full weight of the Department will be thrown behind the effort to preserve in this country the blessing of liberty”
Frank Murphy
Civil Liberties Unit of Department of Justice
People lined streets looking for food
100,000 people applied for work in the Soviet Union
Suicide rate was highest in history
Birthrate was lowest in history
Resignation and self-blame by some; protests by others
Upsurge in riot insurance at Lloyds of London
Populations Response to the Great Depression
Organization that worked with groups of business leaders to set up industry codes for standards of output, prices
Eliminated “cutthroat” competition
Exempt from anti-trust laws
Recognized workers rights to form unions (Section 7a)
Headed by Hugh S. Johnson
Ultimately unsuccessful in promoting economic recovery
National Recovery Administration (NRA)
Made it a federal crime to “teach, advocate, or encourage” the overthrow of the government
Smith Act
Term for state of economy in which..
…GNP had fallen by one-third
…prices had fallen by 40%
…25% of workforce could not find work
Great Depression
Referred to the region as the nation’s #1 economic problem
Revealed it lagged behind in industrialization, education
Highlighted per capita income one-half of the rest of the nation
“Report of the Economic Conditions in the South”
Formed in 1934 by anti-New Deal politicians and business leaders to oppose the policies of Franklin Roosevelt
Stated the New Deal policies brought America closer to fascism
American Liberty League
Created in 1934 to contruct public buildings, bridges, roads, airports
Employed both blue and white collar workers
Famously hired artists for murals and local histories
Works Progress Administration (WPA)
Examples include…
…10,000 auto workers strike in Toledo
…7 hour fight between strikers and strikebreakers at Electric Auto-Light factory
…400,000 textile workers demanding recognition of United Textile Workers
Labor Upheaval in 1934
Offered aid to home owners threatened by foreclosure
Federal Home Loan Bank System
Invaluable asset to Frankl Roosevelt while he recovered from polio int he 1920s
Served as FDRs “legs”, visiting mines, schools
Urged FDR to do more to fight the Depression
Eleanor Roosevelt
Broadcasts on the radio by President Franklin Roosevelt addressed directly to the American people
FDR completed 16 in his first 2 terms
Appealed to traditional values in support fo new policies
Fireside Chats
Established to regulate stock and bond markets
Securities and Exchange Commission (SEC)
Created in March 1933 to have unemployed young men work on conservation projects including…
…forest preservation
…flood control
…improvement of national parks
Employed about 3 million people who received government wages of $30 per month
Civilian Conservation Corps
New usage of term that includes a large, active socially conscious state
“Liberalism”
Supreme Court case that ruled the Agricultural Adjustment Administration was unconstituational exercise of congressional power over local economic activities
United States v. Butler
WWI veterans had received $60 severence bonus
Depression led veterans to demand early payment
Patman bill introduced in support of early payment; 17,000 veterans marched on Washington DC to demand passage of bill
Driven from their camp by the U.S. Army
Bonus Army
Result of Democrat members of Congress from Southern states, who led many of the Congressional committees due to their seniority, to control legislation
“Soutern Veto”
Created in May 1933 to provide grants to local agencies that aid impoverished people
Contrary to Roosevelt’s preference for using spending to create temporary jobs
Federal Emergency Relief Administration
Period from March through June 1933 at the beginning of the presidency of Franklin Roosevelt
Unprecedented flurry of legislation that created programs to help famers, banks, unemployed workers, and businessmen
Prohibition was repealed
Rapid expansion of federal power
Hundred Days
FDRs plan to increase the size the Supreme Court
Claimed many of the judges were older and needed help keeping up with work
Really wanted to “pack the court” because it had outlawed New Deal acts
Justice Reorganization Bill
Practice of purchasing either land or stocks with the intent of selling them soon after for a much higher price later
Speculation
The country “was in such a state of confused desperation that it would ahve followed almost any leader anywhere he chose to go.”
Walter Lippman
Referring to Banking Crisis and Great Depresssion at the time of Roosevelt’s first election
Labor tactic where workers refuse to leave their factory until management meets their demands
Famous example was at General Motors plant in Flint, Michigan, beginning in November 1936
Workers won after 44 days
“They made a palace out of what had been their prison”
Sit Down Strikes
Novel that captured the plight of farmers during the Dust Bowl
Written by John Steinbeck
The Grapes of Wrath
Series of policies instituted by Franklin Roosevelt and his advisors from 1933-1941 that attempted to offset the effects of the Great Depression on American society
Attempted to find middle ground between…
…socialism on the left
…Nazism on the right
…inaction of the upholders of unregulated capitalism
New Deal
Launced by Commissioner of Indian Affairs John Collier
Ended policy of forced assimilation
Allowed Indians unprecedented cultural autonomy
Created schools on Indian reservations
Dramatically increased spending on Indian health
“Indian New Deal”
Tax legislation championed by Roosevelt was called a “soak the rich” plan by his opponents
Under the bill, corporate, inheitance, and gift taxes went up dramatically
Income taxes for the upper brackets rose
FDR wanted to diffuse more radical plans
Revenue Act of 1935
Part of the National Industrial Recovery Act
Directed by Harold Ickes
Funded with $3.3 billion used for roads, schools, hospitals, bridges
Employed over 4 million
Roosevelt ordered it dissolved
Public Works Administration