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October 24, 1929
panic-rescued by a bunch of bankers who bought stocks to bring the prices back up
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October 29, 1929
news spreads of the Black Tuesday save and the market tanks again
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Overproduction/Underconsumption, Corporate Debt,Speculation, Lack of Recovery in Farming, International Problems
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President’s Organization on Unemployment Relief–Asked for private donations for relief, but not very successful.
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This was more successful, as Hoover’s encouragement of public works did indeed provide new jobs.
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The FFB lent money to cooperatives so they could buy crops and thus keep them off the market.
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Term
| Reconstruction Finance Corporation |
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Theoretically, through lending money to groups at the top of the economy, the RFC was going to help people all over via filter-down system, but it didn’t work.
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raised tariffs ultra high and therefore totally killed off foreign trade
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decreased expenditures and increased taxes
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Term
| Presidential Election of 1932 |
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Hoover-(R)vs. FDR-(D)
FDR wins
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Definition
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WWI vets marched to Washington to ask for their pensions and had the army turn on them
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Term
| Emergency Banking Relief Bill |
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Definition
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reopening of solvent banks and the reorganization of screwed up ones, and prohibited the hoarding of gold
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balanced the budget by reducing veterans’ pensions and federal employees’ pay
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began in March 1933, and began with a message urging Americans to return their savings to banks
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deflationary measure imposed new taxes on the sale of wines/beers
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Definition
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Term
| Agricultural Adjustment Act |
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Definition
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restore farmers’ purchasing power; gov’t pay farmers to reduce the amount of crops sold
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Term
| Farm Credit Act & Home Owners Refinancing Act |
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Definition
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FCA provided short/medium loans to farmers so that they could keep their land, and the HORA helped home mortgages
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Term
| National Recovery Administration |
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Definition
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regulated business through establishing fair production codes, limiting production and pricing, and guaranteeing the right of workers to unionize and bargain collectively
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Term
| Federal Securities Act & Banking Act of 1933 |
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FSA enforced rules among brokers, and the Banking Act set up the Federal Deposit Insurance Corporation
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| Federal Deposit Insurance Corporation |
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established federal supervision of public lands
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conservative Democrats and corporation leaders-believed New Deal was destroying American individualistic tradition
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Term
| Commodity Credit Corporation |
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lent farmers money for keeping under-priced crops off the market
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Roman Catholic priest who specialized in anti-communism, anti-capitalism, and Antisemitism
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Old Age Revolving Pensions Plan
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Share Our Wealth Society-100% tax rate on incomes over a million
was assassinated
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bashed business more than first New Deal
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Term
| Emergency Relief Appropriation Act |
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Definition
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public works projects of the unemployed
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Term
| Works Progress/Projects Administration |
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Definition
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major public works organization also sponsored cultural programs that brought art to people by employing artists
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established the National Labor Relations Board
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| National Labor Relations Board |
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empowered to guarantee democratic union elections and stop unfair labor practices
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established old-age insurance in which workers paid taxes out of their wages
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Term
| Presidential Election of 1936 |
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FDR vs. Alf Landon
FDR wins-FDR’s supporters known as New Deal Coalition-consisted of urban, immigrant workers, organized labor, “Solid South,” and northern blacks
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quits AFL and forms Coalition for Industrial Organization
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strikers in front of Republic Steel plant in Chicago shot by police in 1937
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1937-Nine black teens arrested for throwing white hobos off a train then accused and convicted by white jury of rape
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Term
| Brotherhood of Sleeping Car Porters and Harlem Tenants League |
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Definition
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fought for civil rights and attacked discrimination
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Term
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Definition
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FDR has many black advisers
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Term
| March on Washington Movement |
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Definition
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1941-leader of Porters Union proposes march on Washington-FDR promises to outlaw discrimination in war industries to get march canceled
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Term
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Fair Employment Practices Committee established by FDR in exchange for march on Washington being canceled
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Term
| Indian Reorganization/Wheeler-Howard Act |
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Definition
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restored lands to tribal ownership and outlawed its future division
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1921–1922-delegates from several powers discussed naval disarmament-establishes Nine, Five, and Four Power treaties
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1925-used to stop tensions between Germany and France
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1918-Excluded companies set up for export trade from antitrust laws
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1919-Allowed American banks to open foreign branches
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1924-increased the cycle by providing more loans and reducing the yearly repayment.
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1928-reduced Germany’s reparations
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forbidding loans to gov’ts not paying back
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Definition
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forbidding loans to gov’ts not paying back
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Term
| Reciprocal Trade Agreements Act |
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Definition
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empowered president to reduce tariffs through special agreements w/foreign countries
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Definition
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Term
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Prohibited arms shipments to either side in a war once the president had declared the existence of belligerency
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Term
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Cash/Carry principle–warring nations trading w/US pay cash for nonmilitary purchases and carry goods in own ships
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no recognition of impairment of China's sovereignty
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Term
| Selective Training and Service Act |
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1941-the British by allowing them to borrow money to buy weapons
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December 7, 1941-Japanese surprise attack on US Pacific Fleet
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Term
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December 1943–FDR,Stalin,Churchill meet
discuss opening of a second front in the war
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February 1945-FDR,Stalin,Churchill discussed-Poland, dividing Europe
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July 1945-Truman,Churchill,Stalin-disarming germany-end of war industries, unconditional surrender of Japan
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1942-established to convert the economy from civilian to military production
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Term
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1942-recruited factory workers
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Term
| War Labor/Smith-Connally Act |
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Definition
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1943-gave the president authority to seize and operate plants w/strikes if needed
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Definition
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1947-permitted states to ban union-shop agreements
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Term
| Presidential Election of 1948 |
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Definition
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Truman-(D)vs Dewey-(R)vs Henry Wallace-Progressive vs Strom Thurmond-Dixiecrat
Truman Wins
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gave farmers 90% of the market price as supports
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1949-Gov. Pays for soldiers college
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allow more refugees into the country
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War Hero of Pacific, Commander in Korea, advocated total war against commies and use of A-bomb, fired by Truman
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Term
| Presidential Election of 1952 |
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Definition
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Eisenhower/NIXON (R) vs Adlai Stevenson
Ike Wins
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Term
| Atomic Energy Act of 1954 |
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Definition
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gave private companies the right to use nuclear power
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Term
| Presidential Election of 1956 |
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Definition
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Ike vs Stevenson
Ike again
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Term
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mass hysteria and overreaction to the idea of the Communist threat
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Term
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Alger Hiss accused by confirmed spy Whittaker Chambers of giving classified documents-convicted of perjury
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Term
| Julius & Ethel Rosenberg Case |
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Definition
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1950-Rosenbergs accused of passing atomic secrets to the USSR and were executed in 1953
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1954-effectively made membership in the Communist Party illegal
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1944-White-only Democratic Primaries in some states were outlawed
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1946-No more segregation in interstate bus transportation
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Term
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1948-Outlawed agreements among white not to sell houses to blacks
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Term
| Brown v. Board of Education |
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Definition
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1954-separate facilities denied kids equal protection under the law
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1957-the US Commission Civil Rights to investigate discrimination-ineffective
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productivity increased,people wanted more stuff,used consumer credit to keep buying,more profits and paychecks, more consumerism
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1947-huge European recovery program-money given to be spent on American products
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1947-created the Office of Secretary of Defense & CIA
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Term
| Rio Pact & Organization of American States |
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Definition
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1947/1948-Alliances in Latin America, protect American interests, boost the militaries of LA states
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Truman recognizes Israel in 1948-gains ally and Jewish votes
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1948-France,GB merge German zones-USSR blocks off Berlin-all western supplies airlifted out
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1949-3rd world aid program
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1950-response to Red China and Russian A-bomb, more $$$ to military
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1949-Western Europe security pact
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internet of the 20th century
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Term
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break down of old-world empires
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Definition
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rejected conformity and embraced sexuality and drugs
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US would give up its atomic monopoly if all the world’s fissionable materials were given to an agency
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US backs both Greece and Turkey
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Term
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Article on containment of Soviet power,confronting USSR anywhere they showed signs of expansion
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Term
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1950-1953 UN forces settle war in Korea-status quo ante bellum
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Term
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used to covertly subvert 3rd world governments
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Definition
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1958-response to sputnik-arms race-hydrogen bombs and ICBMs
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Term
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Definition
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Khrushchev threatens East German control of Berlin unless talks begin on German reunification and rearmament
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1955-authorized the president to send US forces to defend the islands
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1959-US pawn Batista out-Commie Castro in
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Puerto Rico-companies to invest in tourism and other industries
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1954-french forces surrender to Ho Chi Minh
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Term
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south Vietnamese guerrillas funded by Ho Chi Minh
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