US factories produced more than what could be consumed There was another great

Us factories produced more than what could be

This preview shows page 9 - 11 out of 17 pages.

US factories produced more than what could be consumed There was another great depression in the 1890s Hoover’s policies: o Reconstruction Finance Corporation (RFC) o Some public works projects, Like the Boulder dam (Renamed to Hoover Dam in 1947) Franklin Roosevelt: 1932 election Road to recovery o Bank holiday Emergency banking act, March 1933 – this bill was passed unanimously by the House - sets up FDIC so if a bank closes now you will get $250,000 Most banks were already closed o The Hundred days – 15 major pieces of legislation The major pieces of legislation were passed to bring about recovery and reform and provide some measure of security o National Recovery Administration (NRA) Government-sanctioned cartels Industrial compacts and codes to set wages, hours, and working conditions Codes were difficult to enforce Part of the national industry recovery act (NIRA) Eventually, the Supreme court declared the NRA to be unconstitutional Civilian conservation corps o A work-relief program o 3 million young men employed, paid $30 a month o National forests; flood control; beautification projects Public Works Administration o One of the major “make-work” programs of the New Deal
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o Allotted $3.3 billion for public works (idea is to put money into people pockets quickly to help recover from the depression) o PWA’s money used to build buildings during the time, just like some of the buildings at JMU Problems o Conservatives thought that New Deal programs were corrupting “American ideals” - FDR was going too far o Radicals saw the great depression as proof that capitalism was dead – FDR was not doing enough to recognize that reality o Economic indicators did not indicate that much recovery was taking placed The “second” New Deal o Social Security act (1935) o WPA – Works progress administration $11 billion works program (included the ex-slave interviews) Nations single largest employer Built schools, bridges... o Wagner Act, or National Labor Relations Act (1935) Guaranteed workers right to organize without company interference The End of reform (decline of the New Deal era – as soon as FDR was reelected) o Judicial Reform The problem Roosevelt had with the court was that it was filled with conservatives He was the first president in a while that wasn’t able to appoint supreme court justices, and they were disagreeing with his New Deal He decided to make more positions, so he could appoint some democrats to overwhelm the republicans Even most democrats thought this was wrong and dictator like – thought it would throw off the balance o Economic downturn Cut public works spending, leading to a recession o World Affairs Increasing distraction Trouble in Europe and Asia were occurring, leading to WWII before his term ended The New Deal era overview o Made the democrats dominant party for years to come o New deal did not end the depression (the war did that) - some policies may have prolonged it o Didn’t do much to redistribute wealth o
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