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Robert Tart
-Robert Tart was a conservative American politician, statesman, and Presidential hopeful
-Tart was the senates main opponent of Franklin Roosevelt's new Domestic Policies called "The New Deal"
He denounced the socialism trends of the New Deal -
Return to Normalcy
Return to "Big Business"
In addition to its pro-business stance,Harding's administration was known primarily for his corruption exposed fully after Harding's death in office in 1923 how it was after WWI b4 the Great Depression, The Good Times -
1920's
Buying an Margin- Margin means buying securities such as stocks by using funds you borrow from your broker
Broker-Person who buys and sells goods for others
Disposable Income-income meaning after deduction of taxes and other mandatory charges
Bank Run- sudden withdrawal of deposits of just #1 bank
Bank Failure- Large #'s of anxious ppl withdrew their deposits in cash forcing banks to liquidate loans and often leading to bank failure -
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Huey Long
-Opposed the New Deal b/c he believed that Roosevelt plan to help the American economy after the Great Depression not adequately help citizens living in poverty
-"Share our Wealth" plan also know as Huey Long's a program designed to provide a decent standard of living to all American s by spreading he nations wealth among the ppl -
Immigrants During The Depression
With less demand for labor during the depression, White American farmers sought after jobs filled by Mexican Immigrants
Public hostility towards Mexicans grew which made it difficult for them to enter the U.S
President Hoover authorized the Mexican Repatriation Act which sent Mexicans back to Mexico due to lack of jobs -
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Franklin D. Roosevelt
He defeated Hoover
Greatest problem racing Americans was widespread unemployment.
He promised the Americans a anew deal to start them back to work also the inability to end the depression
Only the we have to fear is fear itself, he will address them with a coder and decision -
Stock Market Crash
Ppl could not sell their shares fast enough
Top bankers met that Friday and 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 -
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Great Depression
-Effects on society- stated the downward economic spiral that led to bankruptcies, mass unemployment and despair
-Worst unemployment rate- or over a decade the unemployment rate was about 15% in 1940 down from the high of 25% in 1933
-Roosevelt created a new deal using the 3 r's relief reform this was to create new jobs
-The lack of jobs affected the American citizens making them lose jobs and their homes -
Migrant Mother
Her photograph of migrant workers helped draw attention to the desperate conditions in rural america and helped to bring attention they needed for direct relief -
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 using his newspapers in 1933
-Hearst broke with FDR in the spring of 1935 when president vetoed the pat man Bonus Bill -
20th Amendment
Cause was for Lame Duck Sessions
-Lame Duck Sessions-of congress meets a Ferris elected
-With each amendment it changed where both presidents couldn't be in the same building -
Tennessee Valley Authority
Built 21 gvt owned dams along the Tn River
Controlled floods and produced electricity
Some feared it as a form of socialism -
The Gold Standard
-Gold and 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 ppl to rely on paper money (fiat money) an order to expand the money supply and stimulate economic activity -
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New Deal
Roosevelt blamed the bankers selfishness and financiers for current crisis
Roosevelt pushed through legislation which is hard in less critical times
All the important bills submitted in these 1st 100 days Roosevelt explained these new deal measures as the 3 R'S
Change- The New Deal changed the gvt has started to take care of U.S It provides Social Security and Medicare for older ppl, runs the FDIC to insure our banks deposits and lowers taxes -
Frances Townsend
Dr. Francis was a physician who devised the Townsend Plan
The plan promised to end the depression by opening jobs for younger workers, while forcing seniors to spend money in the consumer economy
Adopted a version of the Townsend plan when the Social Security program was created -
21st Amendment
In 1933, the 21st amendment to the constitution was passed and ratified ending national prohibition
After the repeal of the 18th amendment some states continued prohibition by maintaining statewide temperance laws -
SEC
Created to watch over the stock market, prevent fraud, and guard against other stock market collapse
Was Roosevelt's reform against the New Deal -
Gold Reserve Act
United States had a bi-metallic system of money
Silver was also traded
Gold Standard came to an end in 1933 when Roosevelt issued an executive order outlawing the ownership of gold besides jewelry
Roosevelt wanted ppl to rely on FIAT MONEY (PAPER MONEY) -
Social Security Act
-1935 was probably the most important measure of the new deal.
-It provided workers with unemployment insurance, old age pensions, and insurance if they died early, workers and their employers each paid new contributions to fund these benefits
-Roosevelt put this in place with the new deal as part of the reform of the 3R'S -
Judicial Procedures Reform Bill
-Roosevelt's intent was to ad more justices to the Supreme Court also know as Court-Packing
-Cause was to gain favorable rulings regarding the New Deal using Roosevelt's Court-Packing scheme
-Courts viewed it as unconstitutional b/c it would cause inefficiency and delays
-Americans viewed it as if it was to important to interfere with -
Agricultural Adjustment Act (AAA)
Gave farmers govt pay to grow crops
Smaller increased for crops created a higher demand for them which would help farmers earn money
Its purpose was to improve and preserve National Soil resources, also prevent erosion
Long term effect was to help keep the pricing of crops stabilized -
Dust Bowl
-Natural Causes- droughts every so often , high winds
-Human Causes- tilling the great plain, cutting the grasses covering the top soil and trapping underground water supplies
-Effects- many was tight, ppl lost there land due to not being able to pay the bank, crops did not grow in Central Am
-Result- men became discouraged they abandoned their families women canned food and sewed clothes to support their families -
Grapes of Wrath
Author : John Steinback
Oakies moving from Oklahoma to Cali increased the avg. intelligence of both states also meant scum
Route 66 is referred to the mother road
They hoped to find jobs but once in Cali they found out jobs were scarce and wages were low. The exiles found refuge in Weed Patch camp.
