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33 Cards in this Set

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  • Back
Who was the president when the stock market crashed?
How did Hoover view the Depression/how to fix it?
* Believed that the marketplace was resilient and would recover.
* By helping, he would only establish a lazy population and ruin the welfare system
Hoover's general beliefs about handling those in need:
State governments should be in charge of the needy, volunteer/charity organizations should take care of people's basic needs, and americans should be self-reliant enough to recover from debt through hard work
Hoover's critics said:
He was laissez-faire and it was destined to fail, he was a "do nothing" president.
*called towns of shacks of the impoverished "Hoovervilles"
What DID hoover do to try to help our economy?
He proposed a delay on our war debts, loaned 2 billion dollars to failing banks (but didn't pummp enough money into the system), Federal Home Loan Bank Act: increased funds to banks so they would be able to finance loans for home mortgages
Bonus Army
15 thousand war vets asking for their war money, hoover had it broken up.
The election of 1932- just after the great depression hit
F.D.R. (wins) vs. Hoover
*FDR was a new guy, who wasn't Hoover, who promised to DO SOMETHING.
*FDR: Democrat, Hoover: Rep.
* PLATFORMS: Hoover- really nothing to run on. "government is fixing itself!" vs. FDR's "new deal"
Change in the role of the government post new deal:
BEFORE: the gv't was practically invisible.
AFTER: the gv't controls everything, especially the welfare of the poor.
Roosevelt and his three "R" goals with his new deal:
1) Relieve- by giving ppl jobs
2) Recover- the economy
3) Reform- banks shouldn't be allowed to put ur money into the stock market.
Roosevelt's 1st 100 days
gave congress 15 law proposals; they passed them all.
difference between the first and second new deal:
1st: Fixes things and makes them permanent
2nd: changes the role of the government
Famous quote from FDR's inaugural address:
"The only thing we have to fear is fear itself!"
What did FDR do to save the banks?
1) Declared a bank holiday and investigation. those banks that were stable were given money and reopened. Many were not, and were reorganized.
2) Gave one of his "fireside chats" on the radio, asking people to put any money that they have into the bank.
3) Emergency bank relief act: gave the prez power to open and close the banks, and regulate rates of exchange and transaction. (RELIEF)
Glass Steagull Act:
Insures your money in a bank up to a certain # figure, prohibited banks from investing in the stock market, created the FDIC: Federal Deposit Insurance Corporation
What did FDR do to fix the unemployment problem?
Alphabet agencies:
* Taxed the middle man to help farmers, paid them to destroy crops. Prices go back up but it was later declared unconstitutional., created HOLC to give people money to refinance their homes, CCC (Civilian conservation corps) to give unemployed males jobs in conservation planting trees, building roads. (very military-ish)
PWA (one of the alphabet agencies)
Public works administration: self liquidating, useful jobs (building bridges, etc.)
National Industrial Recovery act (NIRA)
makes businesses agree on fair codes of conduct, and anti trust laws will be upheld. allows unions to organize and bargain.
How did FDR get people to have faith in the stock market again?
Created the SEC: Securities and Exchange Commission.
* made sure people weren't lying about the stock in the market.
TVA plan: one of Alphabet agencies
Tennesee Valley Authority: gives unemployed people jobs to build dams on thsi poor section of the country at the time...Makes sure electric companies charge fair rates
Huey Long
dangerous radical in the great depression that was saying "share the wealth", limit wealth and spread it to the lower classes. assasinated.
Wagner Act
gave people the right to organize within a union
Name of Germany's 1st (and failed)attempt at democracy
Weimar Republic
Why did the Weimar Republic fail?
People felt betrayed byt heir gv't because they thought they were getting a good deal with the 14 pt plan, but instead got the versailles treaty and poverty. Too many parties in the gv't; couln't get anything dont.
Dawes Act
We try to help Germany pay off war debts and get out of poverty, but then our market crashes and communism is a threat again
Steps Nazis took to get rid of democracy, using democracy:
1) Through a Dem. process, run for office in the Reichstag
2) At first, no one listens, but they continue to be an organized, vocal, visible minority
3) Hard times hit Germany, and lots of ppl turn to hitler instead of communism which redistributes wealth.
4) Hitler runs for president, and loses, but Nazis get a majority in Reichstag. Nothing can get done w/o their consent.
5) Hitler uses this to get appointed Chancellor.
6) Reichstag gives Hitles legal emergeny powers as dictator, he then appoints himself dictator forever and gets rid of all his enemies.
What is the US stand on things happening in Germany? what does this mean?
Isolation and neutrality! We have enough to worry about. there was even a proposal in the house to not allow congress to declare war w/o a referendum! how stupid. this means Germany is secretly gearing up for war at a time when we are completely isolationist
Neutrality acts:
*no selling or trading with warring nations
*No travellers in countries at war
* we will supply aid to places in need on a cash and carry (paying upfront) basis
When did England and France get into the war?
After the fall of Poland, no fighting at first.
US reaction to the fall of France:
draft, increased military budget
Battle of Britain
Stalemate, and even tho britian lost ships, they can replace them from america. hitler calls off the british invasion after
we can lend or lease war materials to any countries important to our defense (VERY active neutrality)
Atlantic Conference
Churchill and FDR meet to talk about the war and a charter- when we win, people will choose their own gov't. Idea for the UN started here.
Japan wants to be a world power but has no way to do it...start a full scale war in china by invading manchuria