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50 Cards in this Set

  • Front
  • Back
emergency banking act, 1933
government inspection of all banks

those in bad shape that could not be saved would be liquidated (their assets would be collected and sold)

those that could be saved would get government loans
Banking Reform, FDIC (Federal Deposit Insureance Corporation, 1933
set up a govt corporation that ensured deposits in all federal banks & most state banks

money to pay for the insurance came from fees charged by the bank

nice confidence booster

preserved capitalist banking system
Truth-In Securities Act, 1933
required companies to make full disclosure of their financial condition
*******Securities Exchange Act, 1934 (SEC) *******
created securities exchange commisions

brought federal regulation of buying and selling of stocks and bonds

does not change private ownership

Joseph Kennedy = 1st owner

intention: make everything more secure
Federal Emergency Relief Act, 1933 (DOLE)
dole out something to someone=line up people and give them stuff like food, clothes, money
Civilian Conservation Corps, 1933
relief for young men of draft age (18-25) but not a real draft

they left home and lived in camps where they were provided room, board, uniforms, etc.

worked on conservation projects (flood control, replanting burnt forests)and got paid

gave relief but also forced people to do stuff
Public Works Administration, 1933
gave relief through major construction projects (hospitals, schools, bridges)

used federal money. hired people.

better than handing things out for free
Civil Works Administration, 1934 (Work Relief)
Make up something for people to do so you can pay them for doing it.

didn't last long because it got a lot of criticism
First Agricultural Adjustment Act, 1933
paid benefits to farmers who agreed to limit production (which will increase prices) through acreage limitations and marketing quotas

funding came from taxes on processors of farm products such as millers and meatpackers

made agriculture into subsidized part of the economy (governmental support)

didn't make things better but stopped from being worse
National Industrial Recovery Act
draw up a code of competition for each industry to limit production, stop unfair competition, and stabilize prices

called for minimum wages and maximum hours in order to stimulate investment

didn't work ultimately because it was operating on the wrong idea
Home Owners Loan Act
created a home owners loan corporation, which refinanced urban mortgages

HOLC will pay off your mortgage company w/ govt bonds. then HOLC owns your mortgage. then it will try to come up with a plan suitable for you to keep you in your home

lasted until after WWII. one of the most successful New Deal programs
Tennessee Valley Authority
tried to save more than a whole region of the country

Tennessee valley was one of the most poverty-stricken, flood-ruined areas of the US

TVA was paid by govt money to build dams on Tennessee to bring flood control and produce electrical power.

produced lots of controversy because public enterprise was competing with private enterprise
American Liberty League
thought New Deal was doing too much in the way of relief and involving itself in private industry

was very conservative

considered New Deal a threat to liberty
Francis Townsend
thought it wasnot doing anything for old people

came up with a plan where govt paid every person 62+ $200 a month... plan didnt pass

he wanted govt to do more for old people
Huey Long
US senator in early 1930s

argued the govt should give household $5000 and a minimum yearly wage of $25,000

confiscation and redistribution (share the wealth)
Works Progress Administration

part of second new deal
brought back work relief (finding things for people to do so they can be paid for it)

brought back on a lasting basis

ex: sidewalks, the riverwalk in San Antonio,
national youth administration

part of second new deal
tried to find things for studfents to do to keep them in school

ex: tutoring jobs and lab jobs
Lyndon Johnson
TX administrator of the NYA

integrated NYA, not segregated like everyone else did
*****Social Security Act*****

part of second new deal
most important welfare mesaure in the history of the US

arranged to take care of people over age of 60

created transfer of payments syste; working people pay into the system and get it later when they're not working
******National Labor Relations Act*****

part of second new deal
single most pro-labor union measure ever passed in the US

put authority of US govt behind workers being able to organize a union peacefully

created the national Labor Relations Board, which supervised elections at companies

preventles blacklisting, etc

benefited labor unions more than anything the US had ever done before
Rural Electrification Administration

part of second new deal
allowed people in rural areas to set up coops then go to govt and let a low interest loan and then build electrical power distribution systems into areas where electrical power distribution didnt exist

allowed people who didnt have electricity to get it.
Revenue Act
bad for people with high income
($5 mill income = 75% tax)
Alfred Landon
FDR's Republican opponent in the election of 1936.

He said he would do things better than FDR was doing it.

FDR won absolutely overwhelmingly.
Four Horsemen
4 conservative members of the US Supreme Court who absolutely opposed the New Deal.

because of them, people who opposed the New Deal in the Supreme Court won majority vote and the National Industrial REcovery Act and the Agricultural Adjustment Act were both declared unconstitutional.
Judiciary Reorganization Bill
legislation proposed by FDR

for every justive on the Supreme Court who was 70 and not retired, the President could appoint an additional judge, up to a total of 6 additional judges

basically it was asking to increase the membership of the Supreme Court from 9 to 15.

the bill did not pass, but because of it and the threat it imposed, the 9 judges on the Supreme Court began to find the New Deal Acts constitutional
Recession of 1937
any progress that the US was making towards recovery was cut and all healthy economic activity was wiped out.

there was a recession within the depression
2nd Agricultural Adjustment Act, 1938
limited production and paid farmers who would limit production.

this one was constitutional
Fair Labor Standards Act, 1938
tried to set up a decent standard of living for workers

MAIN OBJECTIVE: to eliminate detrimental labor conditions to make promote the health, efficiency, and well-being of workers.

established maximum working hours and minimum wages

prohibited child labor (set minimum age for working)
Summary of the New Deal
did not have a set blueprint; it was experimental and tried all sorts of things

had broad purposes, including getting the country through the Great Depression

tried to preserve representative democracy and capitalism, individual dignity, and economic security

tried to bring relief for the poor, recovery (industrial), and reform for agriculture
Immediate Results of the New Deal
Southern Democrats got incresingly unhappy b/c of race relations (remember, Johnson did not segregate)

N. Repubs & S. Dems formed a coalition to be against the New Deal
Long Range Results of the New Deal
economy: preserved private enterprise, private property, and profit-oriented capitalism. more regulation to ensure it wouldnt break down again

society: made the US more of a welfare state than before. key welfare state measure was Social Security. recognized that the govt had some responsibility for everybodys well being

political: increases power of national govt. President became more powerful. Democrats were appreciated by the people.
Arguments against the New Deal

(Critiques against the New Deal)
Conservative: made the govt too big, too expensive, too much interference with private enterprise, too much welfare

Radical: system collapsed completely and people suffered immensely. govt had the chance to do more but it did

Liberal (Progressive): FDR never really properly explained what he was doing or why he was doing it. Liberals just had diff. ideas on how to preserve it.
Manchuria, 1931

& US Reaction to it
Japan wanted to be great power of Far East but had population (too much) and resources (too little) problems

to expand, first they took Korea. then they took Manchuria in China

this violated the League of Nations contract (so they left the league) & our Open Door Policy

US decided to make China respect our Open Door Policy
Fascism in Europe
Mussolini in Italy

Hitler in Germany. Hitler's brand called Nazism.

Fascism = strongly anti-communist & anti-democratic.

completely totalitarianism. utterly nationalistic, militaristic, state ordered, directed capitalism. (Private ownership in favor of govt)

Hitler. Racism. Jews. Holocaust. tore up Treaty of Versailles & remilitarized Germany.
Gerald Nye
believed we got into war because we sold war materials to the Allies

believed all war was was ahout helping out war-material salesmen
Peace Movement of the 1930s
especially among college students. Americans just didn't want a war.
Neautrality Act of 1937
US isolation and tried to hide behind neutrality policy.

1. No sale of war materials to nations at war

2. No loans to nations at war

3. No Americans can travel on ships belonging to nations at war

4. "Cash and Carry" - come here. buy it. take it.

basically a bunch of rights that no one could violate. so basically we didn't claim any rights.
Axis Powers
also the aggressors

Italy, Germany, and Japan

they promised to support each other in taking over whatever they wanted
Japan Attacks China, 1937

& US Reaction
tried to take over China by using bombs and killing innocents

China was big and hard to conquer

US sent minor aid to China since Japan didnt really declare war on China
Panay Incident

& US Reaction to it
Panay was a small US gunboat on river in China protecting US soil with US flag

Japanese conquered & destroyed it.

Americans were killed, but US FORGAVE JAPANESE when they apologized.
Fascism Expansion in Europe
Hitler took Austria.

Then he turned his attention to taking Sudetenland in Czechoslovakia occupied by Germans.
occupied by Germans.

found in Czechoslovakia, who had a mututal defense alliance with France
Munich Conference
held to decide what to do about Sudetenland.

Britain, Fraince, Italy, Germany

decided to give Sudetenland to Hitler to appease him.
Nazi-Soviet Non-Agression Pact, 1939
Afer getting Sudetenland and Czechoslovakia, Hitler wanted Poland (right between Germany and Russia)

this agreement was a promise to not attack each other for 10 years and Hitler would give some of Poland to Soviet Union
Invasion of Poland
After the Nazi-Soviet Non-Agression Pact was made, Hitler took Poland.

Britain and France went to help Poland.
FDR's Position on the War in Europe
US could not afford to see Nazi Germany win the war in Europe because this would be a threat to the independency, security and existance of the US

FDR wanted to defeat Germany by giving aid (weapons, money, etc) to the allies

once he realized that wouldn't work, he deliberately led the US into war with Germany
Neutrality Act of 1939
allowed US to sell war materials to countries at war on a cash and carry basis
Destroyers for Bases Deal, 1940
a deal to give the British 50 destroyers (which would help British destroy German submarines) in exchange for the right to build military bases on 8 British colonies around the world
Wendell Willkie
He ran against FDR during election of 1940. He ran on charges that FDR would take US into war.

Roosevelt won this election easily.
Lend-Lease Act, 1941
passed to help Britain, who was going broke from war efforts

the President can sell, transfer title to, exchange, lend, lease, or dispose of defense articles to other governments.. when the the government of any country whose defense the President deems vital to the defense of the US