Unit 2 Lecture 5 Flashcards
What was Hoover campaign for the election in 1928?
“Food would win the war” during WW1
How was the economy like in the 1920s?
The economy was prospering & booming
Buying on credit
Lead people to spend more money than they had & they ran out of credit (They had a hard time paying back debts which made them stoping spending money)
Buying stock on margin
People borrowing money to pay for stocks & when the stock market crashed they owed more than the stocks was worth
Since people werent buying/ spending money too much there was ________ & _______ where companines having too much products & people are not spending much money
Decrease in consumption & production stockpiles
The decreased in consumption & production stockpiles led to what?
Resulted in people being fired & people stopped spending money even more which was bad for the economy since it was a consumer nation
October 24
Black thursday
October 29
Black tuesday, the stock market crashed because too many people were buying & selling shares in stocks
There was an ___________ where if there was better distribution of wealth people would have more money & be able to live better lives to support the economy
Undistrubtion of wealth
Business-government parternship
Republicans party didnt stop bad things happening & didnt help the working class during the depression & farmers got hit very hard during the great depression
Progressive tax system
The more wealth you have the more will be taxed & it was used to help disturbed wealth in america
When the stock market crashed (The great Depression) what happened?
People lost their life savings since banks failed & when the banks closed their money dissapeard with it, unemploymenet jumped by 25%, people living in horrible conditions, etc
Hobo Army
Men leaving & roaming in towns trying to find places to stay
Hooverville & Hoover blankets
Towns with houses made out of straps & hoover blankets were newspapers people sleeping on benches used to cover themsleves
Civil disorder
Unemployed people demanded jobs, food, went on strikes, etc & the year 1932 was the rock bottom of the great depression
Native whites began to attack ________ saying that they are taking their jobs
immigrants
American Individualism (Herbert Hoover)
Belief that if you work hard & given opporutnies would work harder
Hoover vilfied
Believed that the government had to get people to come together & decided living wage, etc to keep one group from hurting another
Who was Franklin Delano Roosevelt?
Was a democratic, Governor of New york, created the New Deal program & came from progressive era roots where he belived in helping others & that the rich should help the poor
What was the New Deal program ?
It was a relief program to help american people
What was the public’s view on FDR?
The public loved him but the rich did not & people sent him many letters showing their love for him & his wife, where his wife cared for all american whether african american, women, etc
Firechats
Radio chats FDR had on the radio where he talked to america about issues which made americans feel closer to him
Brain trust
Groups of professors that served as FDR advisors for certain issues (Gave their lives for public services)
What were Bank Holidays?
Shut down all banks for a certain time
Emergency Banking Act
Allow banks to be shut down for awhile to help stabilze banks
Glass-Stegall Act of 1913
FDIC (Federal deposit insurance) insured people deposits which helped people trust banks again
Civil Conservation Corps
Put 250,000 men to do work in parks, in communities, etc
Tennesse Valley Authority
Government owned corporation & produced cheat eletric power
Argicultural Adjustment Act
Brought governemnt more involved in farmers lives & help control over production
What were the 4 problems FDR wanted to take care of in his frist 100 days?
- Bank Failure
- Agricultural over prodcution
- Business slump
- Unemployment
During this time period what was also happening with alcohol?
The repeal of prohibtion (Alcohol was brought back)
National Recovery Act (NRA)
Helped businesses recover & it strengthened governemnt -business parternship
Section 7 A
Gave workers rights & ability to join unions again
Federal emergency relief Act (FERA)
Gave funds to states so they can fund their relief programs
Public works adminstration (PWA)
Put people into jobs
FDR didnt belived in _______ which is government welfare payment, he believed if the government gave free people money it would ruin people independence & character
Dole
Civil Works Adminstration (CWA)
Helped rebuild communties, built highways, got people into jobs, etc
Criticism from the right
Conservatives seen FDR getting to involved in businesses
NRA
Dealt with business conflicts, resovled business problems with one another in an industry
Businesses hate ______ becuase they feared working class defiance & becuse it gave worker collective bargins where they could demand better wages, etc
Section 7A
Criticism from the left Side
Felt that the New Deal program was not enough
Heuy Long “Share our wealth” plan
Was a plan that taxed large businesses & the rich where the governemnt would give back the money to the average man to help them make ends meet
Seocnd New Deal
Helped workers organize unions, helped people get into work, & helped people retire
1935 emergency relief appropriation act
Created new agency that made new programs to employ people (There was the national youth program, resettlement adminstration, & the works progress adminstration)
Work progress adminstration (WPA)
Built hospitals, schools, etc & helped people see themselves as citizen & not labor workers
Social Security Act
Helped people retire & brough about unemployment compensation which was handled by the states & the checks were higher in the north
Francis Prekins
1st women cabin member in the U.S.
