New Deal Programs APUSH

Causes of the stock market crash

Uneven distribution of income, stock market speculation, excessive use of credit, overproduction of consumer goods, weak farm economy, government policies, global economic problems.

The Three R’s

Relief for people out of work,

Recovery for business & economy,

Reform of economic institutions.

Emergency Banking Relief Act / Banking Holiday

Closed banks and stated that they would be reopened when they were reorganized on a “sound basis”.

Beer-Wine Revenue Act

Legislation that legalized the sale of beer and wine for tax revenue during the Great Depression.

Fireside Chats

Series of radio broadcasts by President Franklin D. Roosevelt to communicate directly with the American public, providing reassurance and updates on government policies during the Great Depression.

Glass-Steagall Act

Increased gov. regulation of banks / how they could invest depositor’s money.

Federal Deposit Ins. Co. (FDIC)

Guarantees bank deposits up to $250,000.

Home Owners Loan Co.

Federal program to refinance homes for struggling homeowners.

Farm Credit Administration (FCA)

Provided low-interest farm loans —> wanted to prevent foreclosures for indebted farmers.

Federal Emergency Relief Association (FERA)

Granted federal money to state & local governments to operate soup kitchens and provide other relief for the homeless and jobless.

Public Works Administration (PWA)

Allotted federal money to state and local governments for building roads, bridges, dams, etc. (mostly construction projects)

Civilian Conservation Corps (CCC)

A work relief program that employed young men for projects on federal land. Families received money each month. Young men learned skills and received housing, education, and recreation in exchange for their service.

Tennessee Valley Authority (TVA)

Experiment for regional development and planning. Provided electricity at reduced rates & built dams, operated electrical power plants, and controlled flooding and erosion.

National Recovery Administration (NRA)

Worked to guarantee reasonable profits for business and fair hours/wages for labor. Suspended antitrust laws and set codes for wages, prices, production.

Agricultural Adjustment Act (AAA)

Encouraged farmers to reduce production (which would boost prices) and offered subsidies for un-farmed land.

Securities & Exchange Commission (SEC)

Created to regulate the stock market and place limits on speculative practices. Required full audits and financial disclosures.

Federal Housing Administration (FHA)

Boosted the construction industry and helped homeowners by insuring loans for the building of new homes and for repairing old ones.

Civilian Works Administration (CWA)

Part of the PWA- hired workers for temporary construction projects.

Works Progress Administration (WPA)

Employed 3.4 million, and constructed new airports, bridges, roads, and public housing. Employed artists to take photos, paint murals, write plays, and create pamphlets.

Resettlement Administration (RA)

Provided loans to sharecroppers, tenants, and small farmers. Created camps to provide migrant workers with decent housing.

National Labor Relations / Wagner Act (NLR)

Provided loans to sharecroppers, tenants, and small farmers. Created camps to provide migrant workers with decent housing.

Rural Electrification Administration (REA)

Provided loans for electric cooperatives that supply power to rural areas.

Revenue Act

Increased taxes on the wealthy, increased taxes on monetary gifts given to children by their parents, increased capital gains (money earned form the selling of stocks/properties)

Social Security Act (SSA)

Automatic withdrawals from paychecks and payments from business were placed in a fund. This money would be paid out to retirees (65+), as unemployment compensation, payments to the blind or disabled, and to dependent children and their mothers.