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Terms
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- Public Works Programs
- Government funded projects to build public facilities.
- Hoovers Economic Plan
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Voluntary controls within businesses were the best way to end economic crisis.
Hawley-Smoot tariff-highest import tax in history. This backfired and caused an international slowdown in trade.
Reconstruction Finance Corperation-gave credit to banks so that they could extend loans. This helped bankers more than the people. - Election of 1932
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FDR promised country a "New Deal" and ran for president in 1932.
Some people voted for FDR because they were voting against Hoover. He won by a major vote.
FDR started a new era of government involvement and presidential activism. - Father Divine
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Harlem evangelist.
Opened soup kitchens that fed hungry thousands every day. - National Debt
- Total amount of money federal government borrowed and has yet to payed back.
- Social Security Act
- Provided old-age pensions for workers, unemployment insurance, survivors benefits of industrial accidents, aid for mothers blind and disabled.
- National Industrial Recovery Act (NIRA)
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Tried to help prices so that it would help businesses and people.
Set minimum wage and gave organized labor collective bargaining rights. - Welfare Capitalism
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Approach to labor relations.
Companies met some workers' needs without prompting by unions.
Raised wages, provided benefits like vacation, health plans, English classes for recent immigrants. - 1st 100 days in office
- FDR pushed program after program through Congress to provide relief, create jobs, and stimulate economic recovery from March to June in 1933.
- Wagner Act
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National Laber Relations Act.
Legalized uneven practices: only union members could work and collective bargining
- Tennessee Valley Authority
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A public works project which was very popular.
Helped farmers and created jobs in one of the country's least modernized regions. - Second New Deal
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Included more social welfare benefits, stricter controls over business, stronger support for unions, higher taxes on the rich.
New and expanded agencies, new labor legislation and social. - New Deal
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FDR's big plans for the country.
Pushed for programs, closed banks, provided relief and created jobs, helped businesses, saved homes and farms, and improved quality of life. - John Maynard Keynes
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British economist.
Said government spendingcould help collapse economy and help encourage more private spending.
This economic theory was not accepted well. - 21st Amendment
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Congress repealed the ban on alcohol.
The amendment was ratified by the end of the year.
Stimulated parts of the economy. - Eleanor Roosevelt
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FDR's wife and distant cousin.
Supported husbands "New Deal" and traveled widely. Held own press conferences and started own newspaper columns.
Sometimes embarrassed husband. - Effects of crash
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American factories began to close.
Thousands of workers lost jobs and pay was cut.
Restaurants closed because people couldn't afford to go to them.
Farm prices fell and a severe drought arose.
Rural banks were in trouble because of unpaid farm loans.
City banks couldn't return their depostitors money or sell foreclosed property.
Savings accounts vanished.
Effected people internationally. - Causes of Crash
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Government didn't interact with business.
National wealth unequally distributed.
Collateral-people bought stocks with borrowed money as loans. - Treatment of Minorities (New Deal)
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Lost jobs to whites.
Denied civil rights such as education, voting, health care.
Did not receive as high postitions as whites. - Crash of 1929
- Millions of people invested in stocks. Stock prices rose after Herbert Hoovers election. The Dow Jones industrial average dropped.
- Gross National Product (GNP)
- Total annual value of goods and services a country produces.
- Dust Bowl
- In 1930 a severe drought killed farmland in 1930 in the Great Plains.