February 12 - Depression and War 1936-45 I Roosevelt...

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February 12, 2009 Depression and War, 1936-45 I. Roosevelt targeted reform, relief and recovery a. Relief: low interest and cash payments b. Reforms: make sure crisis like this doesn’t happen again i. Regulate banks and stock market ii. Also started government control over money supply by setting value of dollar himself instead being tied to gold standard. c. recovery: agricultural subsidies i. payments to limit production ii. pump priming: stimulus today, aka work relief 1. hire people to work on national jobs d. also passed national recovery act (FAILED!): banned after being unconstitutional e. revolutionary populists: Long from Louisiana i. believed the rich should give more to the nation f. liberty league: rich men against government interventions II. Second New Deal a. Govrnment decided to get serious about making jobs b. Also in 1935: social security act c. SS did not immediately help recovery, but more for future social safety net d. Domestic workers and farm workers were out of SS.
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