Unit 6 Flashcards
What is Direct relief
What Americans demand or need to help them survive
ex: food, clothing, shelter, and money
what 3 things does hoover try to solve the direct relief problem
- get business leaders to pledge not to cut wages or production
- Get city and stat gov. to fund building projects =jobs
- Loaned money to farmers to join cooperatives
What did hoover establish after his voluntary request?
He established the RFC
(reconstruction Finance cooperation)
Lending businesses 2 Billion to stimulate the industry and create jobs. It did not work and the money was spent in months
Hoover than created the PWP. what is that and what does that stand for
Public works programs. hoover spent 800 Mil. to build 800 public buildings and built 37,000 buildings. This was to create jobs but it only lasted a little bit
What was the Bonus army
Veterans of the Great depression were promised bonus money from the war and it was stated they would get it in 1945 but they protested to have it paid early.
How many people marched for the bonus army
17,000 marched on Washington DC
1932 Hoover did not get reelected becuase…
- he sent calvary tanks on the march (protest)
- didnt fix the problems that needed to be fixed
-nearly 25% unemployment (3.2% in 1929)
-yearly family income dropped below $16
Who won the election in 1932
Franklin D Roosevelt
What were the 3 depression era philosophies
- Radical solution….”cut it down”
- Conservative solutions..”leave it alone”
- Liberal solution..”lets prune it”
Radical solution incudes what
- taking the income from rich and redistribute to everyone to be equal.
- gov control all business
- re org farming into Co-op’s eliminating competition
In 1932 after GD hit what happened
- 2 1/2 years of depression
- Millions unemployed
- 1000’s of banks closed
- stopped the assembly line
- streching breadlines
- abandoned farms
What did Franklin Delano Roosevelt say in his INaugural address?
The only thing we have to fear is fear itself
What was Franklin Delano Roosevelt’s first order of business
The bank crisis
which closed all the banks in the nation for 4 days
people could only accept deposits and give out emergency loans
how long did it take for the bank crisis to be over
1 month
30 days
what did FDR put together
“the Brain Trust
what was the brain trust
An advising group of intellectuals and the competent cabinet members
FDRs cabinet members
What were the 3r’s FDR made
Relief
Recovery
Reform
What relief programs were made
FERA
CCC
PWA
FCA
FERA
CCC
PWA
FCA
What do they stand for
-Federal emergency relief admin
- Civilian conservation corps
- public work admin
- farm credit administration
if you worked for the CCC where would you be working
national parks
if you worked for the PWA where would you be working
building schools
What did the CCC do
work on environmental projects
What did the PWA do
renovated gov buildings.
built schools or dams
What did recovery do to stimulate productivity
increase industrial productivity
NRA
What does NRA stand for
national recovery admin
What did the NRA do
This got business leaders to voluntarily set:
quality standards
reasonable production levels
fair prices
max work hours 8 = created 2 mill job
fair minimum wage
What does TVA stand for
Tennessee valley Athority
What did TVA do
- built dams (creating jobs) (create electricity (hydro electric dams))
- Enriched land ( farming irrigation)
- Created fish filled lakes (food & tourism)
we just started building dams in tennessee
What acts did Reform make
Truth- in- securities Act
The glass-steagall- Banking act
What was the truth in securities act
eliminated fraud in the stock market and it penalized companies who deceived investors
what did the Steagall banking act insure
1.Banks cant invest deposits (anyone money) into the stock market
2. created FDIC (Federal deposit insurance corp)
3. insured banking deposits up to 5,000 (if you lose any money becuase of the bank you get your money back no matter what
What does FDIC stand for
Federal deposit insurance Corp.
how many Fireside chats did FDR do
13, this just explained simple ideas of his plans on the radio
what was FDR’s farm program
to make prices go up, FDR had farmers underproduce (let lands go unused, reduce # of animals, and let 100mill. pounds of pork spoil), and paid them a subsidy (financial assistance)
“If supply goes …
prices go…
down, prices go up.
memorize chart