U.S. History Since 1877

The Federal Reserve Act:

In times of economic decline, make money cheaper. However, the Men in control didn't want to make the money cheaper, losing valuable time to save the economy.

Hawley-Smoot Tariffs:

was a U.S. law that raised tariffs on over 20,000 imported goods to protect American businesses and farmers. Sponsored by Senator Reed Smoot and Representative Willis Hawley, it was signed by President Herbert Hoover on June 17, 1930. The act led to retaliatory tariffs from other countries, significantly reducing international trade and worsening the Great Depression.

Agricultural Adjustment Act:

was a key piece of legislation during the New Deal era, aimed at boosting agricultural prices by reducing surpluses. The government paid farmers subsidies to reduce crop production and livestock numbers, which helped to raise prices and increase farmers' purchasing power. The also created the to oversee the distribution of subsidies and manage the program.

Harry Hopkins

was a close advisor and friend to President Franklin D. Roosevelt. He played a key role in implementing New Deal programs Hopkins was known for his dedication to social welfare and his ability to manage large-scale relief efforts.

The Emergency Banking Act of 1933

as signed into law by President Franklin D. Roosevelt on March 9, 1933. It was designed to restore public confidence in the banking system during the Great Depression by allowing the government to inspect and reorganize banks. The act also gave the President the authority to regulate banking transactions and issue additional currency to stabilize the financial system.

-The Securities Exchange Act of 1934

was enacted to regulate the secondary trading of securities such as stocks, bonds, and debentures in the United States. It established the Securities and Exchange Commission (SEC) to oversee and enforce federal securities laws. The Act aimed to ensure greater financial transparency, accuracy, and fairness in the markets, and to prevent fraud and manipulation.

The Emergency Banking Act:

aimed to stabilize the banking system during the Great Depression. It allowed the government to inspect and reorganize banks, re-open those that were financially sound, and close those that were beyond repair. The Act also gave the President the authority to regulate banking transactions and issue additional currency to ensure banks could meet legitimate demands.

Banking Act of 1933

Divided investment banking and commercial banking

FDIC:

as established in 1933, it was created to restore trust in the American banking system during the Great Depression. It provided deposit insurance to protect depositors' funds in U.S. banks, initially insuring deposits up to $2,500. The also examined and supervised financial institutions to ensure their safety and soundness.

The National Industrial Recovery Act (NIRA) of 1933

was a U.S. labor law aimed at promoting economic recovery during the Great Depression. It authorized the President to regulate industry for fair wages and prices, and established the National Recovery Administration (NRA) to oversee industrial codes of fair competition. The Act also created the Public Works Administration (PWA) to fund public works projects and stimulate job creation.

The Tennessee Valley Authority (TVA) Act of 1933

The Tennessee Valley Authority (TVA) Act of 1933 aimed to address various issues in the Tennessee Valley, including flooding, navigation, and electricity generation. It established the TVA, a federal corporation, to oversee the construction of dams and other infrastructure projects. The TVA's initiatives helped to improve the region's economy by providing jobs, electricity, and modernizing agriculture and industry.

The Civilian Conservation Corps (CCC)

Was a New Deal program established in 1933 by President Franklin D. Roosevelt to provide jobs for young, unemployed men during the Great Depression. The ..... focused on environmental conservation projects, such as planting trees, building flood barriers, and maintaining forest roads and trails. It played a significant role in developing the nation's natural resources and improving public lands.

The National Recovery Administration (NRA)

was created by the National Industrial Recovery Act (NIRA) of 1933. It was an agency designed to stimulate economic recovery during the Great Depression by establishing industrial codes to regulate fair wages and prices. The NRA aimed to reduce destructive competition and help workers by setting minimum wages and maximum hours.

The Civil Works Administration (CWA)

was a short-lived New Deal program established in 1933 to create jobs for unemployed workers during the Great Depression. It focused on public works projects such as building and improving roads, schools, airports, and playgrounds. The CWA provided jobs to over four million people before it ended in 1934.

Huey Long

From the State of Louisiana: Incredible speaker and Politician, Huey begins speaking against Roosevelt, he writes “Every Man and King” Huey gains momentum and even threatens the democratic nomination from FDR but is assassinated.

Father Charles Laughlin:

Radio Catholic Preacher from Grand Oaks Michigan: initially a supporter of Franklin D. Roosevelt, became one of his fiercest critics. He accused Roosevelt of being too friendly to bankers and not doing enough to help the common people.

Wagner Act of 1935

also known as the National Labor Relations Act, established the legal right for most private sector employees to form and join unions, engage in collective bargaining, and take collective action like strikes. It created the National Labor Relations Board (NLRB) to enforce labor laws and prohibited employers from engaging in unfair labor practices. This Act significantly strengthened labor rights and protections in the United States.

The Social Security Act of 1935

was a landmark piece of legislation signed into law by President Franklin D. Roosevelt on August 14, 1935. It established a system of federal old-age benefits and grants to states for various welfare programs, including unemployment insurance and aid to dependent children. The Act aimed to provide financial security for the elderly, unemployed, and disadvantaged Americans, laying the foundation for the modern Social Security program.

Orson Welles:

was a renowned American director, actor, writer, and producer. He worked with the Works Progress Administration (WPA), particularly through the Federal Theatre Project, where he directed notable productions like an all-Black version of Shakesphere's "Macbeth"

The National Youth Administration (NYA)

was a New Deal agency established in 1935 to provide work and education for young people aged 16 to 25. It offered part-time jobs to students and job training to out-of-school youth, helping them gain skills and earn money. The NYA played a crucial role in supporting millions of young Americans during the Great Depression by providing them with opportunities for employment and education.

Deficit spending:

occurs when a government spends more money than it receives in revenue, leading to a budget deficit. It often involves borrowing money to cover the gap between income and expenditures. This practice is typically used to stimulate economic growth during periods of recession or economic downturn.

Roosevelt Recession

1936-1937 sees a big cut to Construction and other work programs due to the high cost which causes a recession and is dubbed ...

... ended in June 1938 after the Federal Reserve rolled back reserve requirements FDR helped end the recession by pursuing expansionary fiscal policies, including increased government spending on public works and social programs. These measures helped to stimulate economic growth and reduce unemployment.

*The Administrative State

System in which executive branch administrative agencies have the authority to create, interpret, and enforce their own rules and regulations.

*The Broker State

refers to a concept where the federal government acts as a mediator or broker among various interest groups, balancing their competing demands and interests. This approach was prominent during FDR's New Deal era, where the government sought to stabilize the economy by negotiating and collaborating with different sectors, including labor, business, and agriculture. The ... model aimed to create a more cooperative and inclusive economic system, rather than being dominated by any single interest group.

*In the New Deal Era, the Welfare State

referred to the expansion of government programs aimed at providing economic security and social welfare to Americans. Programs like Social Security, unemployment insurance, and aid to dependent children were established to support the elderly, unemployed, and disadvantaged. This marked a significant shift towards a more active role for the federal government in ensuring the well-being of its citizens.