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Test 3 Study Guide

Test 3 Study Guide - Ch 28 FDR/Eleanor Roosevelt background...

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Ch. 28 FDR/Eleanor Roosevelt background - FDR Only President elected more than 2 terms Led US during economic crisis and war “Happy Days are Here Again” – FDR’s Campaign Song - Eleanor Roosevelt Friend to the poor, African American, and Women Activist, Writer, Agitator, Speaker Huge Asset for FDR FDR’s recovery plan (the 3 “Rs”) - Recovery Bank Recovery Emergency Banking Relief Act, Bank Holiday, FDIC/HOLC/SEC, U.S. off gold standard Farm Recovery Agricultural Adjustment Act (AAA) Create scarcity to increase commodity prices Soil conservation Industrial Business Recovery National Industrial Recovery Act (NIRA) Set wages/hours/prices Estimated 40 hours a week Controlled competition Ended Child labor Established Labor Standards (Moderately successful, but struck down by Supreme Court as unconstitutional interference in interstate commerce) - Relief Federal Emergency Relief Act (FERA) Federal Assistance to States Civilian Works Administration (CWA) Hugely successful, but spent over $1 billion in 4 months Works Progress Administration (WPA) Employed 3 million Civilian Conservation Corps (CCC) Employed another 3 million Tennessee Valley Authority/Rural Electrification Administration (TVA/REA) Provide relief to rural Appalachia (Controversial, but successful) - Reform National Labor Relations Act (Wagner Act) Worker right to bargain Social Security Act Established pensions and unemployment insurance
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Revenue (“Soak the rich”) Act Raised taxes on higher incomes & corporations Established estate, gift, and luxury taxes - Summary Recovered, Relief and Reformed The Banking, Agricultural, and Business Areas - Relief for the unemployed and poor; Recovery of the economy to normal levels; and Reform of the financial system to prevent a repeat depression The Hundred Days - Refers to Roosevelt’s first 100 days as President - March 6 – June 16 1933 21 st Amendment (ended prohibition) - Ended Prohibition (which was the 18 th amendment) Percentage of Americans unemployed (25%) - 25% unemployed (13 million) Emergency Banking Relief Act - Allows only Federal Reserve-approve banks to operate in USA Bank holiday - Roosevelt closed all of the banks - They remained closed until each bank was inspected and met the proper operation conditions - This revived public confidence in banks and ended crisis RFC - Reconstruction Finance Corporation - The agency gave $2 billion in aid to state and local government - Made loans to banks, railroads, and mortgage associations - Played a major role in handling The Great Depression FDIC/HOLC/SEC - Federal Deposit Insurance Corporation Guarantees the safety of deposit in member banks - Home Owner Loan Corporation In order to help people keep their homes, HOLC refinanced mortgages - Securities and Exchange Commission Regulated the stock market AAA - Agriculture Adjustment Administration Tried to raise farm prices Soil Conservation NRA -
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