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Immigrants During The Depression
-With the demand for workers during the depression, white Americans sought after jobs filled by Mexican immigrants
-Public hostility for Mexican grew which made it difficult for them to enter the US.
-Hoover authorized the Mexican reputation act to send Mexicans back to Mexico do to lack of jobs. -
(B) Stock Market Crash of Black Tuesday 1929
nearly cents of every $ in the US were used to buy stocks.
-Buying on the margin is the purchase of an asset by paying the margin & borrowing the balance from a bank or broker.
B: Return to normalcy. A return to the way of life before WW1
-Americas 1st plan meanwhile, president Herbert Hoover urged patience and self reliance he thought the crisis was just a passing incident in our national lives. that it wasn't the federal govt. job to try and resolve it. -
Great Depression
-When panicked sellers traded nearly 60 mil. 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. -
(C) Stock Market Crash of Black Tuesday 1929
C: After the crash people tried to withdraw their money from banks. Couldn't because banks invested their money in the stock markets.
-By 1933, 11 thousands to the nations 25 thousands have failed. -
(A) Stock Market Crash of Black Tuesday 1929
Was caused by bad stock market investments, low wages, a crumbling agriculture sector, & 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 it up.
-Buying on the margin became so popular that by late 1920's, "90% of the purchase price of the stock was being made with borrowed money."
-The US economy came to depend on that activity. Before the crash,- -
William Randolph Hearst
-He was a leading supporter of Franklin Roosevelt in 1932, But then Broke with FDR & Became his most prominent enemy
-Franklin D. Roosevelt New Deal gave way however to Vigorous opposition to the presidents policies on taxes, trust and labor & Hearst became stridently conservative. -
Tennessee Valley Authority
-Built 21 Government owned dams along the river
-Controlled floods and produced electricity.
-Some feared it as a form of socialism
-Reform of The New Deal -
Federal Deposit Insurance Corporation
-The FDIC provided federal insurance for individual bank accounts
of up to $5,000 reassuring millions of banks 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,reform. -
The Gold Standard
-Gold and silver were traded.
-Use of the gold standard came to an end in 1933 when president Roosevelt issued an executive order outlawing the ship of gold
-But Roosevelt wanted people to rely on paper money in order to expand the money supply & simulate economic activity. -
Agriculture Adjustment Act/ New DEal
-The Agriculture act was created in 1933 to reduce crop surplus
-Therefore effectively raised the value of crops
To producers who curtailed the output of crops and livestock.
-The AAA also paid farmers to not grow crops.
-This act came to be Rivelt's recovery legislation -
Period: to
New Deal
Roosevelt blamed the bankers selfishness & financiers for current crisis
Roosevelt passed through legislation which is hard and less critical at times
All important bills submitted in the first 100 days he explained these new deal measures as the 3 R's relief, recovery, and reform
The N.D changed the gov. how since the N.D the Govt. has started to take care of the US it provides social security and medicare for older people runs the FDIC to ensure our banks deposits and lower taxes. -
21'st Amendment
-In 1933, the 21'st 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. -
Period: to
First Term of Franklin D Roosevelt
-His Positive approach and charm help him defeat Herbert Hoover in November 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 office & declared 4 day bank holiday & urged Americans to put back savings.
-Famous quote, "Only thing to fear is fear itself." meaning fear only made things worse -
20th Amendment
Causes-Officials called "Lame Ducks" would take advantage and pass laws
What Did It Do Legally- It cut off all chances to pass or change laws unlawfully, changed the beginning and ending of terms of the elected federal officials
Effects-It stopped "Lame Ducks" sessions -
Henry Long "Share Our Wealth"
-Was a democratic governor of Louisiana Opposed the New Deal bc he believed Roosevelt plan didn't help people living in poverty after great depression.
-His plan wanted to take money from the wealth and give to the poor. He was assassinated Sep. 10th 1964. -
SEC/New Deal
-The securities and exchange commission act was created to review over the stock markets, prevent fraud and guard against other stock markets collapsing.
-The long term effect of this passage is that they maintain efficient markets and protect investors.
-This gives investors common sense to buy in or noy.
-This is Roosevelt Reform legislation. -
Reform of The New Deal
-Social Security 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 in part of Roosevelt. -
Mother Migrant
-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
-Proposed a plan to allow the president to add a new appointment to the supreme court for each Justice over 70.5 years old.
-The plan would have given Roosevelt the right to appoint six justices, giving him control over the court.
-His court packing schemes- was wildly viewed as an attempt to upset the traditional separation of powers.
-Roosevelt's new deal, the power of the federal government moved beyond the regulatory role it had under the progressives agency regulation. -
Robert A Taft
-Taft was Elected for US senate in 1938.
He opposed and denounced FDR's New Deal said that it had socialist trends . Taft's plan called for economy in gov. , a balanced budget, and less centralization of power in the national's capital. -
Grapes of Warth
Author: John Steinbeck
Okies: Where natives from Oklahoma forced to move due to drought and farm closures in the 1930's to California using route 66 to seek better jobs
Migrant Hopess vs. Reality people came from all around the US with the hopes of a better life and better jobs, but only came to find even more poverty or if not already poor they became poor. -
Dust Bowl
-Drought is a part of a weather cycle, naturally occurring in the Great Planes
-Farmers from TX to ND used tractors to break up the grasslands and plant millions of acres of new farmland.
-Dust traveled hundreds of miles, Plague by dust storms and evictions, thousands of farmers and share croppers left their lands behind.
-By the end of 1930's hundreds of thousands of farm families had migrated to Cali. and other Pacific Coast States.