ush - 5.3 reading notes part 2

how did roosevelt believe the depression needed to be fixed?

• he believed that the federal government needed to play an active role in promoting recovery and providing relief to americans

• he experimented with different approaches to see which one works best

what was the brain trust?

• a diverse group of men and women who were an influential group of professionals and academics

• the press nicknamed them the “brain trust”

who was the first female cabinet member?

• frances perkins, a social worker

• secretary of labor

how did roosevelt deal with the bonus army in 1933

• fdr sent eleanor to sing songs with the veterans and make them feel that the government cared

how many bills did roosevelt pass in his first 100 days and what was the goal of those bills?

• passed 15 major bills

• the three goals were relief from the immediate hardships of depression

• recovery long term for the economy

• reform to prevent future depressions

what was the emerging bill bank?

• gave the president broad powers, including the power to declare a four-day bank holiday

• banks were forced to close so they could have time to get their accounts in order before they reopened for business

what were fireside chats?

• informal radio speeches to the American people

• explained measures he had taken and communicated with the American people

securities and exchange commission (sec)

• regulated the stock market

• made it safer for investors

federal deposit insurance corporation (fdic)

• insured bank deposits up to $5,000

agricultural adjustment act (aaa)

• sought to end overproduction and raise crop prices

• provided financial aid and paid farmers to cut production/forego planting on some land

• plowed under crops & killed off excess livestock

nactional recovery act (nra)

• developed codes of fair competition to govern whole industries

• established minimum wages for workers and minimum prices for the goods that business sold

• increase the wages of workers so they could by more goods and raise prices so companies could profit

homeowners loan corp (holc)

• loaned money at low interest rates to homeowners who could not meet mortgage payments

civilian conservation corps (ccc)

• provided jobs for more than 2 million young men

• replanted forests, built trails, dug irrigation ditches, and fought forest fires

tennessee valley authority (tva)

• built a series of dams in the tennessee river valley to control floods and to generate electric power

• replanted forests and built fertilizer plants

• created jobs and attracted industry with the promise of cheap power

public works administration (pwa)

• built bridges, dams, power plants, and government buildings

• nyc’s triborough bridge, overseas highway linking miami and key west, bonneville dam on columbia river

civil works administration (cwa)

• provided jobs on public-works prjects

federal emergency relief act (fera)

• granted federal funds to state and local agencies to help the unemployed

federal housing authority (fha)

• insured bank loans used for building and repairing homes

explain how roosevelt fixed the currency shortage

• stopped US banks from exporting and redeeming gold

• a joint resolution in congress cut the tie between gold and paper money

• made the money supply more flexible and controllable

what is fiat money?

• money that is not backed by silver or gold

what is the purpose of the american liberty leauge?

• conservatives who believed that the new deal was destroying free enterprise and undermining individualism

• prominent business leaders - alfred sloan and william knudsen of general motors, john w davis and al smith who felt that roosevelt had deserted the democratic party’s principles of a limited fed gov

how did the populist movement want roosevelt to fix the great depression?

• wanted fed gov to provide $200 a month to all citizens over the age of 60

• filter out to the rest of the society and produce an economic recovery