*chapter 22 and 23
Terms
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- *Treatment of minorities (New Deal)
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*Women: NRA codes permitted lower wages for work , weren't paid as much as men
*African Americans: racial segregation was reinforced, didn't receive jobs at professional level - *Hoovers economic plan
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*believed the voluntary controls in the business world were the best way to end economic crisis
*actions failed - *Economy of 1920's (early and mid-20's)
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*out of balance
*mainly the rich who got richer
*huge corprorations, rather than small business dominated American industry
*1929-200 large companies controlled 49% of American industry
*people were buying stocks with borrowed money - Crash of 1929
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*stock prices began to increase
*in sept. stock prices began to fall slowly
*closed on oct. 23 and Dow Jones average dropped 21 points
*people began to worry and the next thrus. investors began to sell - *FDR economic plan
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*provide relief and create jobs
*public work programs: build public facilities
NEW DEAL - *New Deal
- *proposals and programs adopted by FDR in response to the Great Depression: included social and economic programs and changes in gov't regulation
- *Causes of crash
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*people began to worry about the falling prices in stocks and began to sell them
*they had to sell them for less money ex.-> 400 for 283$$$
- *Dust Bowl
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*conditions of the Depression were made even worse by the drought and dust storms that took place in the Great Plains
*caused farmers to migrate and leave farm land behind - *Effects of crash
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*income and profits fell
*GNP went down (total annual value of goods)
*Businesses closed
*Banks closed- couldn't return depositors' money or sell forclosed properties
*economy was unstable - *Pack Supreme Court
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*the constitution had not specified the # of supreme court justices
*appointed new justices that were for the new deal - *1st 100 days in office
- *provide relief, create jobs, and stimulate economic recovery
- *Failure of the New Deal
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*Women and African Americans were treated as minorites
*limited individual freedom
*Political right: those who wanted to preserve a current system or power structure
*pol. left: generally seeks governmetnal change - *21st amendment
- *constitutional amendment of 1933 repealing the 18th amendment, thus ending prohibition
- *2nd New Deal
- *included more social welfare benefits, stricter controls over businesses, stronger support for unions and higer taxes on rich