History Notes 2

History Notes 2 - History Notes • Hard Times o DOW lost...

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Unformatted text preview: History Notes • Hard Times o DOW lost 40% of its value Went from 381 to 230 By 1932, down to 41 points Did not recover fully until 1954 Agriculture prices dropped 50% o Unemployment went from 9% (1930) to 25% (1933) o Broken families, fear of starting a family o Pride/humiliation/shame o Paralyzed o Women with children vs. single women Emphasis on beauty o Migration – rural to urban o Women had fewer options • Herbert Hoover o Response was inadequate (paralyzed) o Only plan – loan program for business Business had failed, not looking for loans o July 1932 – Congress passed Emergency Relief Act which sent money directly to states By 1933, only $30 million sent out • Franklin Delano Roosevelt o Astute political skills o Sheer force of personality o Optimism and activism – first Inaugural – emphasis on “we” Put people to work Do not fear Speaks the truth Military language – playing off WW1 Optimism – Revolutionary Era (not as bad as back in the 1770’s) o Special session of Congress (one day after Inaugural) – the First One Hundred Days (May to June 1933) Bank crisis – “bank holiday” • Passed Emergency Banking Act – banks had to apply to the Treasury for a license • By the end of March – half the banks reopened • Confidence in banking increased Civilian Conservation Corps (CCC) • Road construction, reforestation, etc. • Worked to protect and conserve American natural resources • 2.5 million men Federal Emergency Relief Act (FERA) • $500 million – relief to states Agricultural Adjustment Act (AAA) • Set prices for agricultural • Subsidies – farmers paid to reduce acreage • Applied only to land owners, not to sharecroppers, tenant farmers, migrant workers Tennessee Valley Authority • Produced cheap electricity • Irrigation water for 6 southern states (KY, TN, NC, GA, AL, MS) National Industrial Recovery Act (NIRA) • National Recovery Administration – established industrial codes and regulations • Public Works Administration (PWA) - $3.3 billion (later $4.2 billion ) for public improvements (buildings, roads) • Left Turn o Many people still suffering o Wages low, hours high, strong assertions/threats o Closing down unions o Criticism of New Deal Conservatives – disregarded property rights, welfare state evolved Liberals – Huey Long – 1935 – “every man is a king” Far left – unions could not be organized despite Section 7 of NIRA requiring that they be allowed to organize • 1935 – The Second 100 Days o Emergency Relief Appropriations Act - $5 billion for public works and community service projects Works Progress Administration (WPA) – 8 million workers o Social Security Act – government take care of most vulnerable citizens o National Labor Relations Act – guaranteed right for unions to organize and bargain collectively Illegal for employers to fire workers for union activity...
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This note was uploaded on 04/18/2008 for the course HIST 2301 taught by Professor Trobridge during the Spring '07 term at Texas Tech.

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History Notes 2 - History Notes • Hard Times o DOW lost...

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