The Great Depression

Front 1

Hawley-Smoot Tariff 1930

Back 1

- Satisfy US businesses

- A really high, protective tariff

- Disastrous!

Front 2

Debt Moratorium

Back 2

- Action toward Europe's full payment of War debts

- Suspension of collecting war debts on Europe

Front 3

Federal Farm Board

Back 3

- to stabilize the farm prices on goods

- It was to help the farmers

Front 4

Reconstruction Finance Corporation

Back 4

- RFC

- govt. corporation trickled down smaller business

- Democrats: Only benefits Rich

Front 5

Farm Holiday Association

Back 5

- Reverse the drop in prices by stopping the entire crop of grain from reaching the markets

- Farmers banded together

Front 6

Causes of Great Depression

Back 6

Combinations of many factors

Front 7

Uneven Distribution of Income

Back 7

$ income of wealthy >
$ income of poor
(in proportion)

- Made big gap of class

Front 8

Stock Market Speculation

Back 8

- "Playing the Market": People buy stock that make big $ then sell quick

- "Buy on Margin": People loan money and invest on stock to get higher, but then lose everything when stock prices dropped

Front 9

Excessive use of Credits

Back 9

- No down payment -> installment buying

- Advertising was important factor that led this

Front 10

Overproduction of Goods

Back 10

- Workers can not keep on purchasing due to stagnant wages

Front 11

Weak Farming Economy

Back 11

- Since end of WWI, overproduction, high tariff, high debt, and low wages was a problem

- Weather and climate problem made it more difficult for Farmers

Front 12

Government Policies

Back 12

- Govt believed in business and did not regulate it

- Enacted high protective tariff that helps the N industry but not the S(farmers)

Front 13

Global Economy Problems

Back 13

- International trade is hard because of high tariff and mad at each other.

- Full repayment of debts was difficult because of recent War.

- Dawes Plan

Front 14

Three R's

Back 14

His New Deals were to serve the Three R's
(His plan)

- Relief: for people out of work

- Recovery: for business and the economy as a whole

- Reform: of American economic institution.

Front 15

Frances Perkins

Back 15

- First woman ever to serve in a President's cabinet

Front 16

Brain Trust

Back 16

- FDR's "Kitchen Cabinet"
(unofficial advisors)

Front 17

Bank Holiday

Back 17

- All banks that were failing were closed until reorganized FOR A DAY

Front 18

Repeal of Prohibition

Back 18

- 18th Amendment is repealed by 21st Amendment

Front 19

Fireside Chats

Back 19

- FDR's way of connecting with the public via Radio

(Bank Holiday and the Banks)

Front 20

Emergency Banking Relief

Back 20

- Give permission to FDR to close bad banks and open good ones

Front 21

Federal Deposit Insurance Corporation
(FDIC)

Back 21

- Guaranteed individual banks deposits up to 5k

Front 22

Home Owners Loans Corporation
(HOLC)

Back 22

- Eases the condition for paying houses to prevent the foreclosures

Front 23

Farm Credit Administration

Back 23

- Eases the condition for paying farm to prevent the foreclosures

Front 24

Federal Emergency Relief Administration
(FERA)

Back 24

- Gives federal money to states and local govt that operates relief program for jobless and homeless

Front 25

Public Works Administration
(PWA)

Back 25

- Gives federal money to states and local govt that operates relief program for infrastructure

- MANY JOBS!

Front 26

Civilians Conservation Corps
(CCC)

Back 26

- gives young dudes job on federal land

Front 27

Tennessee Valley Authority
(TVA)

Back 27

- Gives jobs to TV civilians to create dams, etc.

Front 28

National Recovery Administration
(NRA)

Back 28

- tried to balance business and workers

- business fair profit, workers fair wages and hours

- SC -> NO!

Front 29

Agricultural Adjustment Administration
(AAA)

Back 29

- reduce production, boost money, govt subsidies to farmer

- SC -> NO!

Front 30

Securities and Exchange Commission
(SEC)

Back 30

- regulating the stock market and limit speculation, restrict inside trading

Front 31

Works Progress Administration
(WPA)

Back 31

-provided jobs to millions of people

- infrastructure and arts

-young people too

- HARRY HOPKINS

Front 32

National Labor Relations Acts (1935)

Back 32

- Wagner Act
- guarantees workers join union and bargain collectivey
- Outlawed unfair business practices
- National Labor Relation Board : Enforce all this stuff

Front 33

Social Security Act

Back 33

-taxes on goods by everyone partially given to elderly.

Front 34

Liberal Critics

Back 34

- FDR is "probusiness and not workers"

Front 35

Conservative Critics

Back 35

- expanded Fed govt. power too much

oppose to:
- increased regulation
- favored union (2nd)
- practice deficit: spending borrowed money

- Anti-New Deal: American Liberty League

Front 36

Demagogues

Back 36

- Father Coughlin: for social justice magazine and the Christian Front. Pro-Nazi and Anti-Semitic. Catholic Priest.

- Dr. Townsend: created first SS and Frances Perkins took idea

- Huey Long: (Kingfish) Socialist, popular socialist redistribution of wealth, Killed.

Front 37

Fair Labor Standard Act

Back 37

- minimum wage 40/h
- max of 40 hours
- child labor restriction -> US reverse previous decision and upheld this

Front 38

Keynesian Economics

Back 38

- Deficit spending was necessary

Front 39

Indian Reorganization Act

Back 39

- gave/return land to Native American tribes.