Chapter 33: The New Deal

Michelle M
Flashcards by Michelle M, updated more than 1 year ago
Michelle M
Created by Michelle M about 5 years ago


High School Diploma History (Chapter 32 & 33: Human Impact of Depression & The New Deal) Flashcards on Chapter 33: The New Deal, created by Michelle M on 03/11/2016.

Resource summary

Question Answer
First thing to write for Chapter 33, topic? Reforming the Financial Sector
What did Roosevelt due about the banking situation? Roosevelt ordered the banks closed creating a bank holiday. The bank holiday stopped the stream of people taking their money out of the banks. So officials created the Emergency Banking Act.
Emergency Banking Act This gave federal government power to supervise banking activities.
What's the second thing you write regarding the New Deal? Reforming the Banks
Banking Act of 1933 Created the Federal Deposit Insurance Corporation, that guaranteed individuals deposits up to $5,000. This helped restore confidence in banks. It also limited the freedom of banks to trade in stocks and bonds. This was keep banks from using depositor's savings for risky speculative investments.
Securities and Exchange Commission Was created to require companies to publish important facts about their business, it also regulated the activities of stock brokers. Speculation in Stocks had helped caused the 1929 crash. Part of the problem was ignorance.
Third Topic regarding the New Deal? Direct Relief
Federal Emergency Relief Act Provided funds to states and local relief agencies to give money to those suffering the most.
Social Security Act Created a social insurance program that provides retirement income for workers 62 and older. For those disabled from work they also receive retirement income. It also set up an unemployment insurance program for those out of work.
The Fourth Topic regarding the New Deal? Creating Jobs
National Industrial Recovery Act It was designed to create jobs in construction through the Public Works Administration. FDR didn't want to give up on the Free Enterprise System so he experimented, this was one of his grandest experiments.
Continuation of NIRA It's goal was to increase production while boosting wages and prices. It targeted groups like business (Fair competition), labor unions (organize and bargain collectively), and unemployed workers (job programs)
Tennessee Valley Authority Created thousands of jobs building dams and bringing power to the Tennessee Valley. This is one of the poorest regions in the country. The New Deal also created two new federal agencies that focused on housing issues, Home Owner's Loan Corporation & Federal Housing Administration.
Civilian Conservation Corp Gave young men jobs planting trees and working on conservation projects.
Agriculture Adjustment Act Paid farmers not to grow crops saving land, raising crop prices and creating jobs in the farming sector.
Works Progress Administration During the Second New Deal it was an agency created to put millions of people to work. it created jobs building bridges, buildings and parks. Later it created jobs for artists in creating murals in public buildings illustrating this tim period in American life.
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