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Return to Normalcy
-Warren Hardings "Return to Normalcy"because"American First" campaign which encouraged industrialization and a strong economy independent of foreign influence
-Harding supported the idea of isolationism
-He wanted the US to focus on peace production and prosperity
Bank run- When a large number of customers of a bank or another financial institution withdraw their deposits simultaneously due to concerns about the banks solvency
Bank failure-when a bank is unable to meet its obligations(insolvent) -
The Stock Market Crash
-Main causes:
-Tariff and war debt policies that cut down the foreign market for American goods.
-A crisis in the farm sector
-The availability of easy credit
-An unequal distribution of income
*The Stock Market Crash was a result of various economic imbalances and structural fallings -
Period: to
The Great Depression
-During the peak of the Great Depression the lowest unemployment rate was 15% until the US entry of WW2
-Due to the lack of jobs people would have to like up for free bread and soup, most people also lost their homes
-FDR created new jobs with the New Deal and 3 R's Reform, Recover, Relief -
Huey Long
-Long was rollicking country lawyer who became Governor of Louisiana in 1928
-He propose against FDR at "Shores of Wealth Plan" the poorest Americans were promised an estate worth no less than 5,000 with a yearly 2,500 yearly minimum home guaranteed
-He wasn't able to propose against FDR The New Deal because he was assassinated before he could do it -
Immigration during the Depression
-Tension grew towards immigrants and migrant workers both Mexican, and European due to their lack of jobs and the dustbowl
-After a certain amount of time during the depression the US stopped allowing immigrants into the country
-The police started deporting Mexican and European immigrants and in some rare occasions farmers in the South were deported because they were mistaken for immigrants -
Migrant Mother
Ms Lange during her career in 1930's
She wanted to use the power of the image to effect political change.
Many Americans lost their homes and family in the depression. People were homeless and went hungry.
Millions depended on soup kitchens for their food.
The last photo "Migrant Mother" was published in San Francisco March 10,1936
Effect: Was funded by federal agencies farm security administration helped draw attention to the desperate conditions in rural America during the Great Depression -
Dust Bowl
Human Causes:
-Farmers had been plowing the lands for crops in central plains and trapping underground water supplies
Natural Causes:
10 year drought
Farmers had to move to California because their harvest has been destroyed
The wind carried the topsoil away this is why it was called the Dust Bowl -
Francis Townsend
-Dr. Francis T was an American physician who devised the Townsend Plan, a popular proposal for state-funded old-age pensions
-Planned to end The Great Depression by opening jobs for young people -
FDR First Term
-Roosevelt's famous quote "only thing we have to fear is fear itself" addressing himself to cause of the economic crisis and is more dimensions, Roosevelt placed blame squarely on the greed and shortsightedness of Bunkers and businessman
-He defeated Herbert Hoover
-Major issue Americans facing widespread unemployment
-Great Depression continued the nations economy continued to wheeze -
20th Amendment
-The 20th Amendment was to move the inauguration up for February to January. So two presidents will not be in office at the same time. This period is called the "Lame Duck" period.
-"Lame Duck" is an elected official whose time in an office or position will song end and does little as the President -
Gold Reserve Act and the gold standard
-The act was to restrict the private use of gold, transfer ownership of all monetary gold to the US Treasury, prohibited the Treasury and financial institutions from redeeming dollars for gold, and regulated the use of gold within the US
-It addressed the no redeeming dollars for gold because before the act people would go to the bank and ask for loads of money in gold.
-The long term effects people still cannot go into banks and get loans for gold, and most gold goes to US Treasury -
Period: to
New Deal
-He tried to stabilize the economy and provide jobs and relief to those who were suffering, and aimed to restore some measure of dignity and prosperity to many Am.
-The federal gov helped care for dependent children and the disabled, helped through the 3 r's:
Relief-helped the unemployed people,Recovery-helped by giving money, Reform-helped the defects of the American economy
-Roosevelt explained his policies in simple conversational terms known as "Fireside Chats" through the nation by radio -
AAA (Agricultural Adjustment Act)
-It's purpose was to help farmers by reducing production of staple crops, taxes forced farmers to cut amounts they marketed
-The gov. even paid for farmers not to grow crops so prices would not go up and help the land -
Tennessee Valley Authority
-It was created by congressional in may 1933 to provide flood control electricity generator and economic development during the depression this was president Roosevelt new deal for reform largest public power company in the US owns the 5th largest river system provides electricity for Tennessee but also parts of Kentucky, Alabama, Georgia, North Carolina, and Virginia some feared the TVA was a form of socialism -
FDIC (Federal Deposit Insurance Corporation)
-Purpose was to provide stability to the economy and the failing bank system
-Insured bank deposits so that people wont lose their savings in bank failure
-This was Roosevelt's Reform of the "New Deal" -
21st Amendment
-The 21st amendment repealed prohibition
-The 21st amendment was ratified because many people had simply refused to accept the ban on alcohol
-President Harding drank alcohol in the White House during the prohibition -
William Randolph Hearst
-Hearst's reputation suffered in the 1930's as his political views changed in 1932 he was a major supporter of FDR in his newspapers throughout 1933
-Hearst broke with FDR in the spring of 1935 when President vetoed the pat man bonus bill -
S.E.C Security & Exchange Commission
-Was created to watch over the stock market prevent fraud and guard against other stock market collapse
-Part of the Reform in the 3R's
-Required public corporations to register their stock sales -
Social Security Act
-The Social Security Act provides the general welfare by establishing a system of federal old-aged benefits and by enabling the several states to make more adequate provision for aged persons, blind persons, dependent and crippled children in maternay and child welfare -
Judicial Procedures Reform Bill
The reform bill was frequently called the "court packing plan" was a legislative initiative proposed by US President Franklin D Roosevelt to add more justice to the US Supreme Court
The bill was to increase the number of US Supreme Court justices then to bring in several new justices who would change the balance of opinion on the court
Roosevelt failed many times at attempting to pass the law its failure exposed the limits of Roosevelt's abilities to push legislation through direct public appeal -
Robert Taft
-Senate in 1938, he opposed Roosevelt's new deal because he felt it was Socialism
-His alternative plan was calling for economy in government, a balanced budget and a less centralization of power in the nation's capital -
Grapes of Wrath
-The author was John Steinbeck published in 1939
-Okies- Farm Families from Southern Plains who migrated to California in the 1939
-People think they were migrating in California for better future but reality is it is hard to find jobs
-Route 66 was the path migrant farmers used to get to California from the Dust Bowl area -
Dust Bowl
-Human Causes: Farmers have been tilling the great plains, cutting the grapes covering the top soil
-Natural Causes: Droughts dried up crops, which turned soil into dust
-Results of the causes: Lasting for a decade, heavy winds carried top soil across hundreds of miles, burying homes and destroying harvest
-Effects: Not able to grow enough to pay their bills, farmers were faced to abandon their farms. Many farmers moved west to California, and found warned as "Farm Hands"