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Election of 1928 candidates?
Herbet Hoover and Alfred Smith
Smith- agaisnt prohibition
hoover - for prohibition
a single instance or process of consideration
Black thursday marked?
end of roaring 20's and beginning of great depression
causes of the depression?
- under consumption
- international relations
- government practices
- installment buying
- disparity of wealth
- reconstruction finance corporation
- made loans to RR's, insurance companies and banks
would have spent $2.1 billion to creat jobs and given direct aid to unemployment, but hoover vetoed it.
- aka shantytowns
- housed the unemployed
- a result of the worst drought in history
- lasted 10 years
- affected 27 states
- ruined millions of acres of farm land
WWI veterans that were promised bonuses in 1945, so they marched to DC to demand an early payment in 1932
suspended all war debt payments to the US for one year
ordered US army to clear out veterans in the bonus army w/ force
Hardest hit by great depression??
African american during depression?
- governor of louisiana
- share the wealth program
Share the wealth program?
- every family would get guaranteed annual wage of at least $2500
- *had a special tax on rich to finance it
- would give each person over 60 a pension of $200 a month
- *taxes on business transactions financed it
plan for ending poverty: EPIC (end of poverty in CA)
Candidates in election of 1932?
- Hoover (republican)
- FDR (democrat)
changed the presidential inauguration date from march 4th to january 20th
FDR ordered banks to close of March 5, 1932
emergency banking act?
gave sec. of treasury the power to investigate all banks and to open them when he saw fit
radio addressed by FDR
- temporary programs to restart the flow of consumer demand
reduced agricultural surplus and raised prices for struggling farmers?
- agricultural adjustment act
guaranteed bank deposits up to $2,500; provides gov’t insurance
- federal deposit insurance corporation
regulated the stock market to avoid dishonest practices
- securities and exchange commission
created unemployment system, disability insurance, old age pension and welfare benefits
employed single men for natural resource conservation
- civilian corporation corps
built hydroelectric plants and dams aimed at improving 7 southern states and attracting industry to the south
- tennesse valley authority
combated unemployment; created jobs throughout economy
- works program administration
legislation that would have allowed FDR to appoint an additional justice to supreme court for each justice over the age of 70
court packing plan
federal gov’t spending is more than its income
a downturn in a nation's economy marked by reduced economic activity