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Robert Taft
Robert Taft was a conservative American politician, statesman & presidential hopeful
Taft was the senates main opponent of Franklin Roosevelt's new Domestic Policies called the "The New Deal"
he denounce the Socialism trends of the New Deal -
buying on margin,disposable income,bank run, bank failure
margin means buying securities such as stocks, by using funds you borrow from your broker(person who buys and sells goods for others)
disposable income: income remaining after deduction of taxes and other mandatory charges
bank run: sudden withdrawal of deposits of just one bank
bank failure: large #s of anxious people withdrew their deposits in cash forcing banks to liquidate loans and often leading to bank failures -
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Huey Long
opposed the new deal because 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 known as Huey Long's a program designed to provide a decent standard of living to all Americans by spreading the nations wealth among the people -
immigrants during the depression
with less demand for workers during the depression , white Americans fought after jobs filled by Mexican immigrants
public hostility for Mexicans grew which made it difficult for them to enter the U.S
Hoover authorized the Mexican Reputation act send Hispanics back to Mexicans 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 American with the New deal to start them back to work also inability to end the great depression
only thing we have to fear is fear itself -
Stock market crash
people 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) the dam burst, the market crashes.
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 -
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Great Depression
Effects on society started the downward economic spiral that led to bankruptcies,mass unemployment,homelessness and despair
worst unemployment rate for over a decade the 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 lose jobs and lose their homes (HOMELESS) -
Migrant Mother
her photograph of migrant workers, homeless helped draw attention to the desperate conditions in rural america and helped to bring attention the need for direct relief help -
Tennessee Valley Authority
reform of the new deal
part of the 3 R's
built 21 government 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 on in-pendent agency of the U.S federal government 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 way a part of Roosevelt "reform legislation" during the new deal -
The Gold Standard
gold & silver where traded
use of the gold standard came to an end in 1933 when President Roosevelt issued an executive order out lawing 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
Roosevelt blamed the bankers selfishness + finances for current crisis
Roosevelt passed 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 three R's relief,recovery,reform change
the new deal change the government, how since the govt has started to take care of the U.S, it provides social security + medicare for older people, runs the FDIC to insure our banks and deposits -
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. -
Francis Townsend
Dr.Francis was a physician who devised the Townsend Plan
The plan promised to end the great depression by opening up 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 -
SecurtiesExchangeCommision
SEC was created to watch over the stock market,prevent fraud and guard against other stock market collapse
was Roosevelt reform against New deal -
20th amendment
the causes of the war for duck sessions
lame ducks sessions- of congress in the United States occurs where on pres meets after is elected
what each amendment did it change where both president couldn't be in the same building -
William Randolph hearst
Hearst reputation suffered in the 1930 as his political views changed in 1932
he was a major supporter of FDR his newspapers throughout 1933
Hearst broke with FDR in the spring of 1935 when president vetoed the pat man bonus bill -
Gold Reserve Act
united states had a bi-metallic system of money
silver was also traded
gold standard came to and end in 1933 when Roosevelt issued an executive order outlawing the ownership of gold besides jewelry
Roosevelt wanted people to rely on "flat 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 3 R's -
Judicial Procedures Reform Bill
Roosevelt's intent was to add more justices to the supreme court also known as Court-Packing
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 interfere with -
AAA ( agricultural adjustment act)
gave farmers government payment, tc 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 -
Grapes of Wrath
author: John Steinbeck
"Oakies" moving from Oklahoma to California increased the average intelligence of both states, also meant scum
'Route 66" is refereed to the mother road
they hoped to find jobs. Once in California they find out idols are scarce and wages are low. the exiles find serge in weed patch camp -
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 grow in Central America
Result- men became discouraged they abandoned their families woman canned foods & sewed clothes to support their families