-
stock market crash of 1929
cause:rapid growth in bank credits and loans in 1920's. some consumers borrowed to buy shares. Production declined, unemployment rose, law wages, proliferation of debt, struggling agriculture sector, excess of large bank loans that could not be liquidated.
buying on the margin-purchasing a stock, paying a down payement and borrowing of balance.
america first-group against the american entry into ww2
bank failure-when a bank is unable to meet its obligation to its depositors or other creditors. -
Period: to
great deprssion
effects on society:american benefited ended the great deprssion. created almost 19 million more jobs and nearly doubles the average family income
Housing conditions were terrible, pressure and prejudice led to strikes, race riots and rising juvenile delinquency
food was rationed and taxes were higher, workers earned more money but worked longer hours
unemployment rate was 25%
govt tried to increase job availability by deporting immigrants. people moved near defense factories. -
Period: to
1st term of franklin D roosevelts presidency
ran against herbert c hoover and won by 22.8 million to 15.7 popular votes and 472 to 59 electoral votes
election was fought in the shadow of ww1 in europe while the u.s was emerging from the great depression
nation was facing massive economic depression
"the only thing to fear is fear itself" which means dont let fear stop you from getting things done and experiencing life. -
20th amendment
cause:before the 20th amendment the presidential election did not have a specific date decided
effects-changed the term to jan 3rd so the lame duck period wouldnt happen-sitting around doing nothing while in office. -
AAA-Agricultural Adjustment Act
Purpose was to reduce tax surplus and therefore effectively raise the value of crops
the supreme court found the tax used to generate income
the soil conservation and domestic allotment act was passed -
federal deposit insurance corporation
purpose was to maintain public confidence and encourage stability in the financial system
addressed:solved the problem og how to handle failing banks.
effect: prevents bankers from panicking -
Period: to
new deal
desinged to get people back to work
relief-federal payment to out of work people so they had $ to buy food or shelter
recovery-programs to put americans to work "WPA" building bridges and roads also putting writers and artist
reforms-legislation "securities and exchange commision" social security retirement.
changed fed govt-back up american banks so if theres banking collapse you dont loose your savings
gave people jobs to put $ back into the economy -
the 21st amendment
the u.s repealled the 18th amendment to the u.s constitution
the 21st amendment gave adults personal freedom to drink again and weakening organized crimes grip on power
u.s now allowed to tax alcohol -
gold reserve act and the gold standard
was in response to the negative effects of the stock market crash in 1929
banned the export of gold and halted the convertibility of gold into paper money
drastically increased the growth rate of gross national product -
U.S security ans exchange commision (SEC)
purpose-it holds primary responsibility for enforcing the federal security laws, proposing security rules, and regulating the securities industry
Effects-with this reform the govt convinced people that the stock market would not collapse again -
huey long
U.S senator and former governer of Lousiana
Long promised to give each american family an income of $5000 a year by taxing the reach(share of wealth)
He was asasinated before he was able to run his campaign against FDR
Long thought FDR didnt do enough for the poor -
Francis townsend
Wanted to give citizens over 65 years a pension of ROD per month, to be spent a month(senior income plan)
Townsend believed that the pensioners would spend their money creating jobs
He felt that franklin Roosevelt did not do enough for reforming Americas economy -
William randolph hearst(inhertiance taxes)
Was the american publisher editor and proprietor
broke with roosevelt in 1935 over proposal to greatly increase taxes and the inheritance of the wealthy and close several tax loopholes used by wealthy to avoid paying taxes -
robert taft
taft criticized what he believed was the ineffiency and waste of many new deal programs
he condemned the new deal as socialist and attacked deficit spending
he supported social security -
social security act
purpose was to provide financial aid for the elderly and disabled people(w/o steady income)
effect:many people depend on social security -
dorthe lange
she focused on the subject of the great depression
was hired by the govt to photograph the effect the deprssion had on people
through her photograph people were able to see the true effects of the depression. The jobless, the poor, and the starving children -
judicial reform bill
proposed to pres roosevelt to add more justices to u.s supreme court
purpose-obtain favorable rullings regarding new deal legislation that court ruled unconstitutional
congress rejected the proposal as an unpredicted over reach into judicial branch -
grapes of wrath
author-john steinback
okies-dust bowl immigration from ock and the plains
route 66 represented hope and the possibility of a new beginning
migrant hopes-went to cali for work when they got there no jobs were left
reality-over supplied w/labor, low wages and workers were taken advantage of -
dust bowl
the dust bowl was a period of severe dust stormsduring the 1930's that damaged the ecology and agriculture of u.s great plains
severe drought and failure to apply dryland farming methods to prevent erosion caused the dust storms
one third of farmers left their homes and headed to the mild climate of california in search of migrant work, other lost their businesses and ended up homeless.