Chapter+24-Garrett+OLeary


 * Chapter 24 Outline, Review Book** **Garrett O’Leary**

1. Causes and Effects of the Depression A. Wall Street Crash i. Black Thursday and Black Tuesday: Stocks are all sold on Thurs, then again on Tues B. Causes of Crash: i. Uneven Distribution of Income ii. Stock Market Speculation iii. Excessive use of credit iv. Overproduction of Consumer Goods v. Weak farm economy vi. Gov’t Policies: high tariffs vii. Global Economic Problems: dependence on international banking C. Effects of Crash i. Millions Unemployed ii. Economy Now Sucks

2. Hoover’s Policies A. Hawley-Smoot Tariff (1930) i. Highest Tariff to that date, ever. B. Debt Moratorium (moratorium: suspension of activity) i. Suspend payment of international debts

3. Domestic Programs: Too Little, Too Late A. Federal Farm Board i. Helped farmers stabilize prices by holding surplus grain and cotton in storage B. Reconstruction Finance Corporation (RFC) i. Funded multiple things, setup by congress

4. The Election of 1932 A. Candidates i. Franklin Delano Roosevelt ii. Herbert Clark Hoover iii. Norman Mattoon Thomas (Socialist Party) iv. Garrett O'Leary (don't Plagiarize idiot) B. Results i. Roosevelt the Democrat wins with help of Socialists C. Hoover: the “lame duck” president i. 20th ammendment shortens time between election and inauguration

5. FDR’s New Deal (another one?) A. THE MAN i. Comes from Powerful Political Family (Teddy!) B. Disability i. Paralyzed by Polio C. Eleanor Roosevelt i. Emerges as a leader with strong influence on FDR

6. New Deal Philosophy A. The 3, Tres, III, 1.732050808 ² R’s i. Relief ii. Recovery iii. Reform

7. The First Hundred, Cien, C, 10² Days A. Bank Holiday i. Banks on “holiday” to help recover financial losses B. Repeal of Prohibition i. Also helps money in taxes, beer is legal again C. Fireside Chats i. Essentially his “State of the Union” Addresses ii. Listen on your radio by your fire D. Financial Recovery Programs i. Emergency Banking Relief Act ii. Federal Deposit Insurance Corporation (FDIC) iii. Home Owners Loan Corporation (HOLC) iv. Farm Credit Administration E. Programs for Relief for the Unemployed i. Federal Emergency Relief Administration (FERA) ii. Public Works Administration (PWA) ii. Resettlement Administration (RA!) iii. National Labor Relations (Wagner) Act (1935) a. Guaranteed worker’s right to join a union b. National Labor Relations Board (NLRB) iv. Rural Electrification Administration (REA)

9. The Election of 1936 A. Candidates i. FDR ii. Alfred “Alf” Mossman (ahaha) Landon B. Results i. FDR Wins again, not so close

10. Opponents of the New Deal A. Liberal Critics i. Socialists B. Conservative Critics i. Pointed out every flaw they could think of C. Demagogues i. Father Charles Edward Coughlin ii. Dr. Francis Everett Townsend iii. Huey Pierce Long Jr.

11. The Supreme Court A. Court Reorganization Plan i. Allowed Prez to add one justice for every justice older then 70.5 years ii. FDR would’ve been able to add 6 justices had it been in effect B. Reaction i. Reps AND Dems Outraged ii. Endangered Checks and Balances System C. Aftermath i. FDR actually gains judicial support

12. Rise of Unions A. Formation of the C.I.O. (Committee of Industrial Organizations) i. Led by John Francis Lewis ii. All unions in one, regardless of craft, race, sex, and skill B. Strikes in Automobile Industry i. GM plant in Flint, Michigan C. Strikes in Steel Industry i. U.S. Steel in Chicago, Illinois D. Fair Labor Standards Act i. Minimum wage of 40 cents per hour ii. Max workweek of 40 hours and time and a half for overtime iii. Child labor restrictions for those under the age of 16

13. Last Phase of the New Deal A. Recession (1937-1938) B. Causes of Recession i. Gov’t Policy ii. Consumer and Gov’t Spending

14. Life During the “Great” Depression A. Women i. More women worked for money because many men were poor ii. With this women’s status in society was elevated yet again B. African Americans i. Still Discriminated ii. Improved standards though C. Native Americans (they’re still there?) i. Established Conservation for Natives (reserves) D. Mexican Americans i. Discriminated against ii. Many forced to return to Mexico