FDR and the New Deal 1+2

ND1-What was the Emergency Banking Relief Act?

ND1-What was the Emergency Banking Relief Act?

Gave treasury authority to investigate banks threatened with collapse and got RFC to buy up their debts

ND1-How was the Stock Exchange regulated?

The Securities Exchange Commission

ND1-What administration funded states for unemployment relief?

The Emergency Relief Administration

ND1-How many alphabet agencies were there for depression recovery?

16

ND1-What agency paid farmers to produce less and how successful?

the Agricultural Adjustment Agency- price of cotton was up to 10 cents in 1933

What did the NRA do?

Suspend anti trust legislation, tried to enforce workers rights but failed

What was the problem with the NRA demand for minimum wage?

Small firms couldn’t afford it

ND1-What act aided industrial recovery?

National Industry Recovery Act (NIRA)

ND1-How much was the PWA funded with?

$3.3 bn

ND1-What was the Civilian Conservation Corps?

Gave young people experience in useful jobs like planting trees (3bn) and laying telephone lines

3 impacts of the 1st New Deal?

• direct govt relief

• restored confidence in economy

• insufficient funding but important precedent

What were the 3 main reasons for the 2nd New Deal?

• congress demanded radical measure

• wealthy + BB opposed him

• wanted to appeal to disadvantaged

ND2-How much did the Emergency Relief Appropriation Act spend on public works?

Almost $50bn

ND2-What were 2 big projects of the WPA?

Fort Knox and the Lincoln Tunnel

ND2-When was the Rural Electrification Act?

1935

ND2-What was the Revenue Act?

Increased taxes on the top 1%

ND2-What did the Social Security Act provide?

Old age and disability pensions, and unemployment benefit

ND2-What were the caveats to the Social Security Act?

Pensions were self-financing, excluding many earning too little, and Healthcare Insurance was not included

ND2-What was the Wagner Act?

Gave Trade Unions legal rights

When was the Liberty League formed?

April 1934

What was the Liberty League and how successful?

Formed of Conservative Democrats and Republicans who believed in free market supremacy

Peaked in 1936 but flopped after election victory

Who advocated for ‘Share our Wealth’?

Louisiana senator Huey Long

What did Huey Long want? (3)

• Private fortune of $3 mil should be redistributed

• Government funded pensions and minimum wage

• Guaranteed family income

When was Long assassinated?

Sept 1935

What did ‘Thunder of the Left’ advocate for?

Nationalisation

What did the Supreme Court do in the 1930s?

Increasingly declare legislation unconstitutional like NIRA and the AAA

What were the aims of the Judiciary Reform Bill?(2)

• raise number of judges to 15

• replace judges when they hit 70

Who rejected the Judiciary Reform Bill?

Senate

What was Roosevelt’s problem with the Democrats?

conservative Democrats were wary of him so he supported liberal Democrats more which meant congress was divided