U.S. History Outline: XII. The Great Depression and FDR

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After the panic, U.S. banking system disappeared
Panic and depression cut off international trade
Agricultural marketing program
    Hawley-Smoot tariff raised tariffs on agricultural goods
    Government started buying farmers' produce
1932 - Reconstruction Finance Corporation
    Gave money to build buildings and roads
    Created jobs
Bonus Army
    Marched on Washington
    Hoover called out the army to drive them off
    (army was led by Douglas McArthur and George Patton)
Economy sank even further in 6 months before FDR took office

Emergency Banking Act ("Bank Holiday")
    FDR closed all banks for 100 days to stop the run on the banks
    Prevented the last banks from collapsing
    Government insured the money in banks
    Lured people back into banking
Economy Act - cut military pensions to give government more money
1933 - Agricultural Adjustment Act
    Put limits on farm production to keep prices up
    1936 - declared unconstitutional
1936 - Soil Conservation Act
    Replaced Agricultural Adjustment Act
    Farmers were paid not to grow certain crops
Resettlement Association - modernized and consolidated farms
1937 - Farm Security Administration
    Taught people new farming techniques
1935 - Rural Electrification Administration
    Built dams to regulate water and provide electricity
    Tennessee Valley Authority

1933 - National Recovery Act and Administration
    Industry wanted to suspent Antitrust law
    FDR allowed it on condition that businesses recognize unions
1933 - Gold Standard abolished
    Used bonds redeemable for gold or silver
1933 - Securities Exchange Act
    Regulated buying of stocks
1933 - Federal Emergency Relief Administration
    Provided money to local relief agencies
    Was ineffective
1933 - Civil Works Administration
    Put people to work building roads, parks, bridges, etc.
    Civilian Conservation Corp. - gave people jobs in National Parks

Second New Deal
    1935 - FDR enacted steeply progressive income tax
       Had little effect on Depression
    1935 - National Labor Relations Act and Board (Wagner Act)
       Unions increased
       John Lewis of United Mine Workers was important union leader
       AFL and CIO considered merger
    1935 - Social Security Act
    1935 - Works Progress Administration
       Similar to Civil Works Administration, but bigger
       Included the Federal Arts Project
       Cleared out slums and built new housing
       U.S. Housing Authority was created to take over building housing

1936 - FDR carried all but 2 states in election vs. Alf Landon
1937 - FDR tried to increase size of Supreme Court
    FDR wanted to increase court to 15 judges
    FDR would get to pick all the new judges
    Would have given the executive branch too much control of judicial
    Caused an outcry
    FDR backed down when the current Court upheld Wagner Act and Social Security Act

1937 - another recession, FDR put more money into New Deal programs
New Deal did almost nothing to aid minorities

Next: World War II >>

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