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ROBERT TRAFT
-Robert Taft was a conservative American politician ,statesman & presentation hopeful
-Taft was the senates main opponent of Franklin Roosevelt new domestic policies called "the new deal"
-he denounce the socialism trends of the new deal -
BUYING ON MARGIN
margin means buying securities such as stocks by using funds you borrow from your broker.(person who buys & sells goods 4 others
DISPOSABLE INCOME -income remaining after deduction of taxes & other mandatory charges.
BANK RUN-sudden w/ draw of deposits of just #1 bank.
BANK FAILURE- large # of anxious people w/ draw their deposits in cash forcing banks to liquidate loans & often leading to bank failure -
STOCK MARKET(OCT.24,1929) & RETURN TO POLICY(1920)
-people could not sell their seats fast enough
-top bankers met that Friday & bought stocks above current market prices to try to stop the rapid decline in prices
-this action by bankers only delayed the collapse by a few days
-oct 29,(black Tuesday)MARKET CRASHES
PT2 -return to "big businesses"
-in addition to its pro-business stance Harding's administration was known primary for his corruption exposed fully after Harding death in office in 1923 how it was after WW1 B4 the great depression. -
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HUEY LONG
-opposed the new deal because he believed that Roosevelt plan to help the American economy after the great economy after the great depression not adequately help citizens living in poverty
-"share our wealth" plan also known as Huey longs a program designed to provide a decent standard of living to all Americans by spreading the nations wealth among the people -
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THE GREAT DEPRESSION
-effects on society started the downward economic spiral that led to bankruptcies,mass unemployment homelessness & despair worst unemployment,rate was about 15% in 1920 down from the high of 25% in 1933 Roosevelt created a new deal using the 3 R's relief recovering reform this was meant to create new jobs available for Americans
the lack of jobs affected the American citizens making them loose jobs & their homes (HOMELESS) -
immigrants during the depression
-with less demand for workers during the depression white Americans sought after jobs filled by Mexican immigrants
-public hostility after for Mexicans grew which made it difficult for them to enter the US
-hoover authorized the Mexican reparation act to send Mexicans back to Mexico due to lack of jobs -
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franklin d roosevelt
-he defeated Herbert hoover
-greatest problem facing Americans was widespread unemployment.
-he promised the Americans a new deal to start them back to a work also he inability to end great depression
-"only thing we have to fear is fear it self"- he will address them with a condor decision -
MIGRANT MOTHER
her photographs of migrant workers helped draw attention to the desperate conditions in rural American & helped to hiring attention the need for direct relief -
WILLIAM RANDOLPH HEART
-hearts reputation suffered in the 1930s as his political views changed in 1932he was a major supporter of FDR his news papers throughout 1933
-heart broke with FDR in the spring of 1935 when president vetoed the pat man bill -
TENNESSEE VALLEY AUTHORITY
(PART OF THE 3R'S)(REFORM OF NEW DEAL)
-built 2 gov. owned dams along the river
-controlled floods & produced electricity
-some feared it as a form of socialism -
FDIC
-is the federal deposit insurance corporation
-its an independent agency of the us federal gov. that preserves public confidence in the banking system by insuring deposits
-president Franklin Roosevelt signed the banking act in 1933 a part which established FDIC.
-This was a plot of Roosevelt "reform legislation" during the new deal -
THE GOLD STANDARD
-THE GOLD & SILVER WERE TRADED.
-use of the gold standard came to an end in 1933 when president Roosevelt issued an executive order outlawing the ship of gold,
-but Roosevelt wanted people to rely on paper money (fiat money) in order to expand the money supply & stimulate economic activity -
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NEW DEAL
EXPLAIN
-Roosevelt blamed the bankers selfishness & financiers for current crisis
-all the important bills submitted in these !st 100 days Roosevelt explained these "new deal" measures as the three R's relief, recovery,reform
CHANGE
-the new deal change the gov.,how since the "new deal"the gov. has started to take care of us. it provides social security& medicare for older people, runs the FDIC to insure our banks deposits & lower taxes -
21st amendment
-in 1933 the 21st amendment to the constitution was passed & ratified ending national prohibition
-after the repeal of the 18th amendment some states continued prohibition by maintaining statewide temperance laws -
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FRANCIS TOWNSEND
-opposition- it had not gone far enough. Refused to nationalize the banking system & provide free coinage of silver.
-alternative plan(senior income plan) for everybody working over the age of 60 to retire. retirees would receive a monthly check for $200 a considerable income during the depression -
20th amendment
-dates on which new presidential & vice presidential terms began well as the date for beginning new congressional terms
-moving these dates for president & congress helps get rid o a non productive called "lame duck" period.
-it also has provision that determined what it is to be done when there is no presidential-elect or killed (like FDR who died in office) -
20th amendment
the causes was for duck session lame duck sessions of congress in the united meets after is expected
-what each amendment did it change where both presidential couldn't be in the same building -
SOCIAL SECURITY ACT
-1935 was probably the most important measure of the new deal.
-it provided workers with unemployment insurance, old age pensions & insurance if they died early,workers & their employers each paid new tributions to fund these benefits
-Roosevelt put this in place with the "new deal" as part of the reform of the 3 R's -
judicial procedure reform bill
-Roosevelt intent was to add more justices to the supreme court also known as court-packins
-cause was to gain favorable rulings regarding the new deal using Roosevelt court packing scheme
-courts viewed it as unconstitutional b/c it would cause inefficiency & delays
-Americans viewed it as if it was to important to infer with -
AAA (AGRICULTURAL ADJUSMENT ACT)
-gave farmers government payment,to grow farmer crops
-smaller supply of crops would increase demand for those crops, this would help farmers earn money
-its purpose was to improve & preserve national soil resources also prevent it from eroding.
-long term effect was to help keep the pricing of crops stabilized -
DUST BOWL
*NATURAL CAUSES-droughts every so often,heavy winds.
*HUMAN CAUSES-tilling the great plain,cutting the grasses,covering the top soil & tapping underground water supplies
*EFFECTS-money was tight,people lost there lands due to not being able to pay the bank, crops did not grown in central am.
*RESULT-men became discouraged they abandoned their families,women canned food & sewed clothes to support their family. -
grapes of wrath author john stienback
-oakies moving from Oklahoma to California increased the average intelligence of both states
-route 66 is refered to the mother road