Roosevelt and the First New Deal, 1933-35
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78 Terms
In what year is Roosevelt elected by a landslide?
1932
In 1932, the American Communist Party polls a record of how many votes?
102,000 votes
When was Roosevelt’s inauguration?
March 1933
When was the Hundred Days?
March to June 1933
When was the Emergency Banking Relief Act passed?
March 1933
When was the President’s first ‘fireside chat’?
12th March 1933
When was the Economy Act, making it clear the Roosevelt determined to keep Federal Budget under control, passed?
March 1933
When was the Civilian Conservation Corps created?
March 1933
When were $1 billion returned to bank deposits?
April 1933
When did the US leave the Gold Standard?
April 1933
When was the Truth in Securities Act passed?
May 1933
When was the Federal Emergency Relief Act passed?
May 1933
When was the Agricultural Adjustment Administration created?
May 1933
When was Tennessee Valley Authority created?
May 1933
When was the Home Owners Refinancing Act passed?
June 1933
When was Glass Steagall Banking Act passed?
June 1933
When was the Farm Credit Act passed?
June 1933
When was the National Industrial Recovery Act, which created the NRA and PWA, passed?
June 1933
In 1934, the ACP gained how many members?
30,000 members
When was the Farm Mortgaging Refinancing Act passed?
January 1934
When was Crop Loan Act passed?
February 1934
When was the NRA board created?
March 1934
When was Jones-Connally Farm Relief Act passed?
April 1934
When was the Federal Farm Bankruptcy Act passed?
June 1934
When was the Silver Purchase Act passed?
June 1934
When was the Indian Reorganisation Act passed?
June 1934
When was the Securities Act passed?
August 1934
When was the American Liberty League founded?
August 1934
When did Father Charles E. Coughlin find the National Union for Social Justice?
August 1934
When did Senator Huey P. Long launch Share our Wealth campaign?
August 1934
When did the Congressional election reinforce radical Democrats?
November 1934
What did the Emergency Banking Act of 1933 do regarding gold?
It banned gold exports and suspended dollar convertibility to gold.
How much were citizens paid per ounce of gold under the Emergency Banking Act?
$20.67 per ounce.
What percentage of banks reopened after the Emergency Banking Act and related reforms?
70%.
How much had returned to bank deposits by the end of March 1933?
Nearly $1 billion.
What did the Glass-Steagall Act establish?
Federal Deposit Insurance Corporation (FDIC) and transferred open market operations to the Federal Reserve Board.
How much did the FDIC guarantee deposits up to?
$2,500.
What did the Truth-in-Securities Act of 1933 require?
Full disclosure of securities info and penalties for misinformation.
Who was the first chairman of the SEC?
Joseph P. Kennedy.
What event in 1938 demonstrated the SEC’s power?
Prosecution of Richard Whitney for embezzlement.
How much did the Economy Act save in government expenditure?
Approximately $243 million.
What age group did the CCC target?
Young men aged 17 to 24.
By 1935, how many men and camps were in the CCC?
Over 500,000 men in 2,500 camps.
How much did FERA allocate to states?
$500 million.
How many people did the CWA employ and in what time frame?
Between November 1933 and March 1934, over 4.2 million workers were employed in four months.
How many airports and miles of roads did the CWA build?
Over 400 airports and 255,000 miles of roads.
How much in bonds did the Emergency Farm Mortgage Act authorise?
$2 billion.
What percentage of farm mortgages were refinanced within 18 months under the Farm Credit Act?
Over 20%.
How much in benefit payments and crop loans did the AAA provide?
$4.5 million in benefits and $1.5 billion in crop loans.
How did farm income change from 1932 to 1935?
It rose from $4.5 billion to $6.9 billion.
What percentage of tobacco farmers participated in the AAA?
95%.
How much farmland and how many piglets were destroyed under AAA policy?
10 million acres and 6 million piglets.
When did the Supreme Court declare the AAA unconstitutional?
1936.
What did the 1934 Gold Reserve Act do to the price of gold?
Increased it to $35 per ounce (from $20.67), devaluing the dollar by nearly 60%.
What did the 1934 Silver Purchase Act require?
The Treasury to buy silver until it equaled 33% of gold’s monetary value.
How many tribes rejected the Indian Reorganisation Act?
75 out of 245 tribes.
What did the Home Owners’ Refinancing Act do?
Refinanced mortgages and provided tax and repair advances.
By the mid-1930s, what percentage of urban homes were refinanced by the HOLC?
Nearly 20%.
When was the Federal Housing Administration (FHA) created?
June 1934.
What did the PWA’s $3.3 billion budget fund?
Infrastructure projects including 34,000 works like the Golden Gate Bridge.
How much of the PWA’s budget was actually spent by Harold Ickes?
$2.8 billion.
How many workers went on strike in 1934 due to dissatisfaction with the NRA?
Over 1.5 million workers.
What nickname was given to the group of four conservative justices who opposed the New Deal?
The "Four Horsemen".
Who were the two Hoover-appointed justices whose positions added to judicial uncertainty for the New Deal?
Justice Roberts and Justice Hughes
When did “Black Monday” occur, marking the Supreme Court's striking down of the NIRA?
May 1935.
By what year had the Supreme Court invalidated 11 out of 16 of the New Deal’s alphabet agencies?
1936
How many judges did FDR propose to add to the Supreme Court in the 1937 Judicial Reform Bill?
6 judges
What amount did Huey Long propose for household grants under “Share Our Wealth”?
$5,000 per household.
What annual income did Huey Long propose for every American family?
$2,000 per year.
How many people listened to Father Charles Coughlin’s radio programme, “The Golden Hour of the Little Flower”?
Between 30 and 40 million.
What was the name of Father Coughlin’s organisation that advocated the nationalisation of banks?
The National Union of Social Justice.
How many older Americans supported Dr. Francis Townsend’s pension plan?
Between 7 and 8 million.
What monthly pension did Townsend propose for Americans over 60, with the condition it had to be spent?
$200 per month.
What did many businessmen accuse the New Deal of being similar to?
Bolshevism – an attempt to "Sovietise America".
What was the stated aim of the American Liberty League?
To "defend the Constitution and preserve the right to own property".
Name some major corporations that supported the American Liberty League.
Du Pont, General Motors, General Foods, and United States Steel.
Which financial sector also supported the League with donations?
Leading Wall Street firms.
Which big business figure was appointed to the Securities and Exchange Commission despite progressive criticism?
Joseph Kennedy.