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