UNIT9

From 1929 to 1932, who was criticized for not doing more to end the depression

President Hoover

How much did unemployment rise during the great depression

25%

What did Hoover initially rely on during the Great Depression

Individualism but then he offered relief checks and job programs.

• it was too little too late

Who defeated Hoover in the 1932 election

Democratic candidate Franklin D Roosevelt

What was at an all time high when Roosevelt became President

Unemployment

“The only thing we have left to fear is…

Fear itself” - FDR

What kind of spending did FDR believe the government should use

Deficit Spending (spending that causes debt to stimulate the economy)

What was the legislation FDR passed in his first 100 days to fight the depression

The New Deal

What was FDR’s first action

Addressing the bank crisis

What was the economy like in 1933

25,00” banks had failed and the USA was in financial collapse

What did FDR declare to save the banks

A four day bank holiday: all banks were closed and inspected by federal regulators to determine which banks were healthy

• only healthy banks could reopen after the holiday

What was the effect of the bank holiday

Few U.S banks failed and Americans slowly regain confidence in banks

What technology did FDR use to communicate to the American people

The radio- his “fireside chats” explained the New Deal program

• weekly radio gave people confidence in the government fighting the depression

What did Eleanor Roosevelt become to the American people

The conscious of the New Deal

• was the first First Lady to give lectures, radio broadcasts, write a daily newspaper column and speak on behalf of African Americans

What were the “three R’s” the New Deal focused on

• Relief: relief checks and job programs to lower unemployment

• Recovery: programs to stimulate agriculture, industry, and the economy

• Reform: programs to correct problems and prevent future depressions

What was the greatest success of the New Deal

It’s ability to offer relief to unemployed citizens with unemployment checks and job programs

What percent of Americans got relief checks during the New Deal

15%

What was the Civilian Conservation Corps (CCC)

A work program for young men age 18-25 years old

• built roads, parks, soul erosion project and employed 3 million men

What was the Public Works Admin (PWA)

They hired 2 million to build airports, dams, schools, hospitals, and parks

What was the Securities and Exchange Commission (SEC) created for?

To regulate the stock market and prevent another crash

What was the Federal Deposit Insurance Corporation (FDIC) created for?

To guarantee customer bank accounts and restore public confidence in banks

Up to how much does the government insure in each bank account?

250,000

What was the Tennessee Valley Authority (TVA) created for?

To bring electricity to the south and create jobs

• they built hydroelectric power plants in seven southern states, providing issued cheap power

What was the agricultural adjustment act (AAA) created for?

To help farmer stimulate agriculture

• paid farmers not to produce to increase crop prices by reducing supply

• Helped farmers but not enough money to stimulate the economy

What was the national recovery administration (NRA) created for?

To stimulate industry

• tried to set fair wages and hours for workers and minimum prices for products

• Failed

What did FDR’s failure to end the depression led to

Criticism of the New Deal

What is Huey Long’s Share the Wealth plan

Propose taxing all personal income over $1 million and give each U.S family 2500 per year

What happened when Huey Ling threatened to run as 3rd party candidate

He was assassinated in 1935

What series of laws did FDR begin in 1935

The Second New Deal

What was the rapid succession of the Second New Deal called

The Second Hundred Days

Social Security Act

• provided old-age pensions for americans at age 65

• Americans first welfare program

The Wagner Act

• protected workers rights to strike and collectively bargain

• Regulate unfair practices used by companies to discourage union membership

• Union membership in the USA increased

What criticism did FDR face in 1937

• That the New Deql was too expensive and did not eliminate unemployment or end the depression

What happened when FDR backed off government funded jobs

unemployment quickly rose

Which two New Deal programs were declared unconstitutional by the Supreme Court

AAA and NRA

What did FDR do out of fear? The Supreme Court would weaken the New Deal

• threatened to pack the Supreme Court and increase the number of justices from 9 to 15

• People said FDR was overstepping his constitutional powers

What did congress focus on after 1938

• trying to control spending and not passing anymore New Deal laws

What was the New Deal successful in

• offering relief programs

• Offering reform to stock market, banking, and unions