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Overproduction, Ripple Effect, Vicous Cycle
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Runs on the bank. Banks were running out of money because they weren’t having their loans paid back, and people desperately needed cash. A run on the bank was when people panicked and believed that they had to take their money out of the bank immediately.
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This tariff raised tariffs to an all time high to stimulate a recovery by promoting american industry. European tariffs retaliated by raising their own tariffs. US exports to Europe plummeted, international trade ground to standstill.
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Anti new deal organization that wanted to end the new deal and restore the capitalistic system.
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Huey Long. Every American to be guaranteed a 2000 annual income that every American would get free education, free vocational training, old age pensions, and a 4 week vacation. Take the money from the super rich and give it to the poor. Annual income would be limited to one million dollars each. Anything over a million goes to the government. personal fortunes would be capped at 50 million dollars. This was later changed to 5 to 8 million. Inheritances would be limited to 5 million dollars each.
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CIO is made up of industrial unions, made up of skilled and unskilled workers.
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A program that employed more than 8 million unemployed americans in large numbers of public work projects. Writers, performers, and artists. This solved unemployment. This is a relief
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Guaranteed collective bargaining rights, permitted closed shops, and outlawed management practices such as spying on unions and blacklisting.
(Collective bargaining rights) The right of an employee to bargain with their employer with members of their own choosing.
(Closed Shop) You had to be in the union to get a job. Aimed to solve the lack of workers' rights and weak labor unions. This was reform -
This act established a federal-state system of old-age pensions for workers. You pay into this and regain it later on. Also gave unemployment insurance, federal aid to people with disabilities, and aid to dependent children, such as widows with children. This tried to solve the problem of poverty among the elderly, the disabled, and those people with bad luck and family tragedy. A Safety Net. This was reform.
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Allowed the president to appoint an additional supreme court justice, for each justice over the age of 70 up to a total of 6 new justices. In order to get a pro new deal majority on the court. This created lasting political damage to Roosevelt and caused more opposition to his New Deal programs. There was a succession of deaths and retirements and Roosevelt was able to appoint justices in favor of his new deal programs.
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AFL was skilled workers only, craft unions. These skilled workers did not want to associate with the unskilled workers of the CIO. This was because unskilled workers have no bargaining power because they were so replaceable.
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Banned child labor on the national level. Established a minimum wage, and maximum work week.
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