apush chap 24/25

The New Deal

FDR programs to fight GD; Relief(immediate help to ppl) + Reform(prevent another GD) + Recovery(restart econ growth)

Emergency Banking Act

protects big banks; bank inspections before reopen; fed $ for weak banks; reorg failing banks

Agricultural Adjustment Act (AAA)

price parity for farmers; paid to destroy crops/livestock to cut supply; ruled unconstitutional (ICC)

National Recovery Administration (NRA)

NIRA agency; nat’l wages/hours; boosts unions; struck down by SCOTUS

Tennessee Valley Authority (TVA)

“Hoover Dam of East”; 100+ dams; flood control, irrigation, electricity

Glass-Steagall Act

separates comm. vs invest. banking; banks can’t gamble deposits

Federal Deposit Insurance Corp (FDIC)

insures deposits up to $2.5k

Securities & Exchange Commission (SEC)

regulates stock mkt; restores Wall St trust

Civilian Conservation Corps (CCC)

1st jobs program; young urban men; manual labor; reduces unrest; preps for WWII

Townsend Plan

$200/month to 60+ retirees; frees jobs; boosts spending; fails Congress 1935

Social Security Act

pensions + unemployment + disability insurance; biggest anti-poverty reform

Wagner Act / National Labor Relations Board (NLRB)

guarantees right to unionize permanently

Works Progress Administration (WPA)

largest jobs program; 8M jobs; trade + infrastructure

Memorial Day Massacre

Chicago police kill 10 steel strikers

Court Packing Scandal

FDR tries to add 6 justices after AAA/NRA struck down; huge backlash; fails

Roosevelt Recession (1937)

cuts New Deal spending; GD symptoms return

Franklin D. Roosevelt

bank holiday; fireside chats; New Deal leader; Keynesian spending

Fireside Chats

radio talks; restore confidence; ppl redeposit $$

Keynesian Economics

gov spends $$ to boost demand

Huey Long

LA senator; “Share Our Wealth”; 100% rich tax; assassinated 1935

Charles Coughlin

radio priest; turns on FDR; calls him communist; loses cred after Nazi support

Eleanor Roosevelt

most influential First Lady; civil rights advocate; UN Human Rights author

John Collier

Indian Affairs head; Indian Reorg Act 1934; restores tribal land rights

Frances Perkins

1st female cabinet member; Sec of Labor

Dust Bowl

Great Plains drought; dust storms; farm collapse; Okies migrate CA

Hoovervilles

homeless camps during GD

Reconstruction Finance Corp (RFC)

Hoover bank/business bailout; $2B fund

Smoot-Hawley Tariff

raises tariffs; kills global trade; worsens GD

Volunteerism

Hoover belief ppl help each other; short-term only

Black Tuesday

stock mkt crash; start of GD

Scottsboro Case

9 Black teens falsely accused; SCOTUS intervenes; partial reversals

Election of 1932

FDR landslide after Bonus Army incident

Interregnum

Nov–Mar delay; econ collapses further

Bonus Army

WWI vets demand early bonus; Hoover sends army; public outrage

Herbert Hoover

laissez-faire; balanced budget; slow response; Hoover Dam too late

Federal Home Loan Bank Act

low-interest loans for farmers/homeowners