Lecture - 1920s/great depression
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There was a brief recession after the war but what occurred right after it?
The GNP was $70B in 1922 it had increased to what by 1929?
The result of new household inventions using electricity created a boom in what section of the economy?
The Consumer Oriented economy
There were 8M registered cars in 1920. How many were there by 1930?
What were the 3 major impacts of a booming consumer economy?
- 1. Massive increase in indebtedness
- 2. A sense of sameness (drove the same cars, listened to the same shows)
- 3. Environment suffered (increased reliance on fossil fuels)
What American hero flew alone from NY to Paris in 1927?
Young women portrayed with bobbed hair, short skirts, cigarette, drank, danced the charleston, listened to jazz, and openly discussed sexual relations were known as what?
Who succeeded Woodrow Wilson and became the first president of the roaring 20s in 1921?
Warren G Harding
What president was a former journalist and Senator in Ohio and was known to enjoy poker and liquor parties with his friends? '21-'23
Warren G Harding
This presidential administration was plagued by scandal in '21-'23
What man was involved in the first scandal of Harding's administration. This man was in the Veterans Bureau and was convicted of stealing funds from that govt agency?
This Harding Administration Scandal involved Secretary of Interior Albert Fall and his allowing oil companies to drill on lands in CA and WY, in return he got large amounts of "loans"
Teapot Dome scandal because it took place in Teapot Dome, WY
In 1923 Harding died of a heart attack who was his VP that took office upon his death?
What president took office upon the death of Harding, had similar policies (high protective tariffs, tax and spending cuts), and got re-elected in '24 on his own merit?
Calvin Coolidge Pres. from '23-29
While business boomed in the '20s what sector of the economy declined after WWI?
What bill would have allowed the Govt. to buy surplus crops and later sell the excess crops on the world market?
The McNary-Haugen bill was passed in congress twice '27 & '28 why was it never made law?
Both times it was vetoed by Coolidge
Despite being vetoed twice by the president what was the significance of the McNary-Haugen bill?
Although the US wasn't ready yet it brought to attention the idea of subsidizing agriculture
What were the 2 main reasons Nativism became prevalent in the '20s?
- 1. WWI spurred super patriotism
- 2. Flu epidemic killed 50M worldwide and 500k in the US
What act established a quota system to limit immigration and virtually ended immigration from Asia?
National Origins Act (1924)
The KKK reemerged in the '20s what was there estimated peak population?
By the late '20s support for the KKK had eroded. Why was this?
The leaders were associated with violence and corruption
Although birth control was illegal it was widely accepted. Who was it's main public promoter?
Who founded the Universal Negro Improvement Association that advocated African-American racial pride and separatism rather than integration and encourage blacks to return to Africa?
Why did many writers call the '20s the lost generation and move to Europe?
They were disgusted with their hypocrisy and materialism
Who led fundamentalist protestants in a campaign to prohibit the teaching of evolution in 1921 schools in order to preserve the literal biblical account of creation?
William Jennings Bryan
What was the unemployment rate in 1933 during the Great Depression?
October 24, 1929 was the day stock prices began to plummet. What was this day referred to?
Five days after Black Thursday on October 29, 1929 a record 16M stocks were sold. What was the estimated loss?
When did the worst storms of the Dust Bowl occur?
The summer of 1934-39
What was the Bonus March of 1932?
WWI vets had been promised a bonus to be awarded in the 1940s. They marched to DC with their families to demand it be awarded immediately because of the depression
What was Hoover and congress' reaction to the Bonus March 1932?
They refused to give the bonuses early and had the military destroy the WWI veterans tent city by forcing them out with tear gas.
Who dominated the election of 1932 after Americans became angered at Hoover for his "laissez Faire" approach to the Great Depression?
Why was FDR known to use the media effectively?
He gave fireside chats were he ensured the public of what he was doing to improve the economy, and he also gave many speeches
What was FDR's outlook for repairing the economy?
At first he didn't have a plan but was at least willing to experiment
What were the 3 sections of FDR's New Deal known as the 3 R's?
- 1. Recovery
- 2. Relief
- 3. Reform
What are 3 of the major examples of the recovery aspect of FDR's New Deal?
- 1. EBA (Emergency Bank Act)
- 2. AAA (Agricultural Adjustment Act)
- 2. TVA (Tennessee Valley Authority)
What were the 3 major aspects of the Emergency Bank Act (EBA)?
- 1. Banks were required to take a 4 day holiday
- 2. Banks were inspected for soundness
- 3. Weak banks were restructured and strong banks were immediately reopened.
The AAA (Agricultural Adjustment Act) tended to benefit large landowners over sharecroppers. It had 2 major points, what were they?
- 1. Paid subsidies to restrict crop production
- 2. Government bought excess crops and kept them in storage
What were the 3 major parts of the TVA (Tennessee Valley Authority)?
- 1. Govt built 100s of dams along rivers in the TN valley which created 1000s of jobs
- 2. Dams were also designed to end erosion and promote flood control
- 2. Brought cheap electricity to areas of TN that hadn't had access to it
What was the purpose of the relief measures in the New Deal?
To provide direct economic relief in the form of jobs and not handouts
What are two examples of the relief measures in the New Deal?
- 1. WPA (Works Progress Administration)
- 2. CCC (Civilian Conservation Corps)
What govt agency, under New Deal relief measures, employed over 8M workers, built 125K buildings and provided money for the arts by employing writers, performers, and artists?
WPA (Works Progress Administration)
What government agency, under the relief measures of the New Deal, put people to work planting trees, building campgrounds, hiking trails, etc. Workers averaged $35/month wages
CCC (Civilian Conservation Corps)
Who was the first to propose the Old Age Pension Plan that would give $200 a month to all Americans over 60 with the stipulation that they would have to spend it within 30 days?
Dr. Francis Townsen (California)
Why was the Old Age Pension Plan not a feasible option?
It would have quickly bankrupted the nation
What Governor/Senator of LA authored the Share Our Wealth Plan?
What were the 3 major points of the Share Our Wealth Plan?
- 1. Limit annual incomes to $1M
- 2. Limit personal fortunes to $5M
- 3. Guarantee families a $5000 homestead and an annual income of $2500
Which "R" of the New Deal was designed to measures to avoid another Great Depression in the future?
What New Deal reform measure increased taxes on the wealthiest corps and individuals? An influence of the Huey Long plan.
Wealth Tax Act
Which New Deal reform agency was established to regulate the stock market?
SEC (Securities & Exchange Commission)
The New Deal reform measure SSA (Social Security Act) had what 3 major points?
- 1. Unemployment insurance (funded by employers)
- 2. Aid to dependents ($$ for widows, orphans, disabled, etc.)
- 3. Old age pension funded by employees and employers
What act established the FDIC to insure individual deposits in commercial banks and separated commercial banking from the more speculative investment banking?
The Banking Act of 1933 (Glass-Steagall Act)
What act required that full information about stocks and bonds be provided by brokers to potential buyers?
The Truth in Securities Act
What agency was created to insure long-term, low interest mortgages for home construction and repair?
FHA (Federal Housing Administration)
Under Secretary of the Interior Harold Ickes what agency had $3.3B to distribute to state and local governments for building projects such as schools, highways, and hospitals?
The Public Works Administration
What act was the cornerstone of the recovery project and sought to stabilize the economy by preventing extreme competition, labor-management conflicts, and overproduction?
National Industrial Recovery Act
What agency was established as a part of the WPA and provided part time jobs to high school and college students that enabled them to stay in school. This agency also helped adults not in school find jobs?
National Youth Administration (NYA)
FDR's frustration with a conservative supreme court led him to propose what bill that would have allowed him to name a new federal judge for everyone that did not retire by the age of 70.5?
Judicial Reorganization Bill
What was the positive and negative reaction from the Judicial Reorganization Bill?
Negative - After refusing to compromise after the massive wave of opposition FDR lost control of the Democratic congress
Positive - The court changed its position and began to vote more liberally
What act, introduced by John Collier (Commissioner of the Bureau of Indian Affairs), repealed the Dawes Act of 1887 and restored tribal ownership of lands, reorganized tribal constitutions and government, and provided loans to tribes for economic development?
Indian Reorganization Act of 1934
FDR issued an executive order on June 25, 1941 that established what committee whose purpose was to ensure consideration of minorities in defense employment?
The Fair Employment Practices Committee
What guaranteed workers the right to unionize?
The National Industry Recovery Act
What act in 1935 resulted in massive growth of union membership?
National Labor Relations Act (Wagner Act)
What FDR American policy exerted a non-interference policy in relation to Latin American countries?
The Good Neighbor Policy
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