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Huey Long
-Long was rollicking country lawyer who became Governor of Louisiana in 1928
-He proposed 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 propose against FDR The New Deal because he was assassinated before he could do it -
Immigration During The Depression
-Tension grew towards immigrant and migrant worker both Mexican and European due to the lack of jobs and dust bowl
-After a certain amount of time during the depression, U.S stopped allowing immigrants into the country
-The police stopped deporting Mexicans and Europeans immigrants and some rare occasions farmers in the South were deported because they were mistaken for immigrants -
Great Depression
-When panicked sellers traded nearly 16 million shares on the New York stock exchange
-Corporations could no longer raise funds
-in 1940, 15% was the lowest unemployment rate
-People had fought for their daily survival. Banks failed and many people were out of work
-The money supply growth caused by huge international gold influence was a crucial source of the recovery of the U.S economy
-people were hungry and went homeless -
William Randolph Hurst
-He was a leading supporter of Franklin Roosevelt in 1932, but then broke with FDR and became his most prominent enemy
-Franklin D Roosevelt New Deal gave way whoever, to vigorous opposition to the president policies on taxes trust in labor and hearst became stridently conservative -
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 its moral, dimensions, Roosevelt placed blame squarely on the greed and shortsightedness of Bankers and businessman
-He defeated Herbert Hoover
-Major issue Americans facing widespread unemployment
-Great depression continued the nations economy continued to wheeze -
21st Amendment
-In 1933, the 21st amendment to the constitution was passed and ratified ending national prohibition
-After the repeal of the 118th amendment some states continued prohibition by maintaining statewide temperance laws -
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 government even paid for farmers not to grow crops so prices would not go of and help land -
New Deal
-He tried to stabilize the economy ad provide jobs and relief to those who were suffering and aimed to restore some measure of dignity and prosperity to many Americans through this deal
-The federal government helped to care for dependent children's an the disable, and the federal government built damns along the Tennessee River that controlled flooding and generate inexpensive hydroelectric power for the people in the area -
The Gold Standard
-Gold and silver were traded
-Use of the gold standard came to an end in 1933 when president Roosevelt an executive order outlawing the ship to gold, but Roosevelt wanted people to rely on paper money(fiat money)
-To expand to money supply and stimulated economic activity -
20th Amendment
-The 20th 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 and elected official whose time in an office or position will soon end and does little as the president -
Tennessee Valley Authority
-Built a government owned damns along the river
-Control floods and produced electricity
-Some feared it as a form of socialism -
Federal Deposit Insurance Corporation
-The FDCI provided federal insurance for individual bank accounts of up to $5,000 reassuring millions of bank customers that their money was safe
-Congress and the president also worked to regulate the stock market, in which people had lost faith because of the crash of 1929
-The FDIC was part of Roosevelt's New Deal the 3 R's relief, recovery and reform -
Period: to
First Temp Of Franklin D. Roosevelt
-His positive approach and charm help him defeat Herbert Hoover in Nov. 1932
-Depression was the only issue of consequence in the campaign Americans had to choose between unsuccessful policies from hoover, who claimed Roosevelt would intensify the disaster
-The economy was in depression, no jobs or homes Franklin took offices & declared 4 day bank holidays urged Americans to put back holidays
-Famous quote "Only thing to fear is fear itself" meaning fear made things worse -
SEC
-The Securities and exchange commission act was created to review over the stock markets, prevent fraud and guard -
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 and Executive order outlawing the ownership of gold besides jewelry
-Roosevelt wanted people to rely on flat money "paper money" -
Henry Long "Share Our Wealth"
-Was a democratic governor of Louisianan opposed to New Deal, because he believed Roosevelt"s plan didn't help people living in poverty after the Great Depression
-His plan wanted to take money from the wealthy and give to the poor
-He was assassinated September, 10 1964 -
Reform Of The New Deal
-Social security was probably the most important measure of the New Deal
-It provides 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 in part of Roosevelt -
Migrant Mother
-She focused her photography career on destitute migrant workers, children and mothers
-Her career helped raise funds by federal agencies. It also helped draw attention to the desperate conditions in rural America and helped to underscore the need for direct relief -
Judicial Procedures Reform Bill
-Roosevelt proposed a plan to allow the president to add a new appointment to the supreme court for each justice over 70 years old
-The plan would have given Roosevelt the right top appoint six justices, giving him control over the court
-His "court-packing scheme" was widely viewed as as an attempt to upset the traditional separation
-Roosevelt's New Deal, the power of the federal government moved beyond then regulatory role it had under the progressives. -
Robert A. Taft
-Taft was elected to the U.S senate in 1938.
-Senate opposed and incidence FDR's
-New Deal that it had a socialist trends. Taft's plan called for economy in government, a balanced budget, and less centralization of power in the national capital. -
Dust Bowl
-Drought is a part of a weather cycle, naturally occurring on the great planes
-Farmers from TX to N.D used tractors to break up the grasslands and plant millions of acres of new farmland
-Dust traveled hundreds of miles, plagued by dust storms and evictions, thousands of farmers and sharecroppers left their land behind
-By the end of the 1930s hundreds of thousands of farm families had migrated to Cali. and other Pacific Coast States -
Grapes Of Wrath
-The author was John Steinbeck published in 1939
-The Okies-farm families from Southern Plains who migrated to California in 1930
-People think they are migrating to California for better future, but reality is, its hard to find jobs
-Route 66 was the path migrant farmers used to get to California from the Dust Bowl area -
Stock Market Crash
Causes-The stock market crash of 1929 was largely caused by bad stock market investment
-Low wages, a crumbling agricultural sector, and high amounts of debt that couldn't be liquidated
-Upward trends in the stock market caused many people to invest, money, even if they didn't have the financial assets to back up their investments
A:Explain buying on the margin
-Buying on the margin became so popular that by late 1920's 90% of the purpose price of the stock market was being made -
Return To Normalcy
-WARREN Harding's "Return To Normalcy"(before WW1)b/c america first campaigned which encouraged industrialization and a strong economy, independent of foreign influence
-He supported isolationism
-Wanted the US To focus on peace firm production and prosperity(better life)
-BANK RUN a large # of customers of a bank or another financial intuition withdraw their deposits simultaneously
-Bank failure when a blank is unable to meet obligation to its deposit of other creditor because insolvent