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The Great Depression
The Great Depression was a national nightmare. During the 1920`s, many Americans had started to equate their self worth with their material possessions when the Great Depression struck, people felt worthless. The worst unemployment rate was 25% in 1933 (13-15 million). When President Roosevelt came into office, his administration passed legislation that aimed to stabilize industrial and agricultural production, create jobs, and stimulate recovery. They called it the three R's. -
New Deal Socialism
Robert Taft opposed to the FDR and his opposition to the new deal was based on the idea that the gov. should leave the private sector to deal with issues of welfare and employment should remain small. -
20th amendment
The 20th amendment was written because the constitution was ratified to reduce the amount of time lame duck presidents and congressmen had to push policies before the new administration and legislators took over. -
Gold Reserve Act and the gold standard
The purpose of this act was to give the government the power to peg the value of the dollar to gold. It also made the private ownership or trading of gold a criminal offense. The value of gold went up from $20.67 to buy a troy ounce of gold to $35. During this time the United States was still suffering from negative effects of the stock market crash.