click below
click below
Normal Size Small Size show me how
FDR and the New Deal
history notes section 22
Question | Answer |
---|---|
What do banks do? | They help tocirculate money by making loans to businesses and individuals. |
How do individuals use the loans from the banks? | - Individuals use loans to purchase cars, homes, stocks, etc… |
What do businesses use the loans from the banks for? | Businesses use loans to purchase supplies, inventory, to make payroll for employees, etc… |
Name the first factor for the Great Depression | Over indebtedness - banks and brokerages loaned huge sums to consumers due to prosperous times. - As outstanding debts became larger, panic-stricken banks/brokerages called in loans when they saw asset prices drop. |
Name the second factor for the Great Depression | A fall in the level of asset prices - Supply increased and/or demand diminished for many products. |
Name the third factor for the Great Depression | Distressed selling of stocks and assets - the liquidation of assets to relive debt obligations caused asset process to drop so rapidly that it created a paradox: |
What was the paradox with the third factor (distressed selling of stocks and assets)? | the effort of individuals to lessen their debt obligations actually effectively increased them. |
Paradox | the panic selling decreased asset values, making the value of dollar that was owed even greater relative to the value of all assets (hence the more debt that was paid off, the more that was owed due to asset prices being driven lower, dollars worth more. |
Name the 4th factor of the Great Depression | Ineffective bank-run policies- bank run policies adopted earlier in the century were either not followed or not effective in the face of extreme economic panic: |
Name the 5th factor for the Great Depression. | A reduction in U.S. exports and a decline in farm prices: |
Who passed the Hawley Smoot Tariff Act of 1930? | President Hoover and Congress |
Name a result of the Hawley Smoot Tariff Act | (1) Catastrophic impact on global trade as other nations retaliated with high tariffs of their own (making U.S. exports nearly impossible). |
Name another result of the Hawley Smoot Tariff Act | (2) Farm prices plunged to record lows as inventories/supplies dramatically increased. Many farmers were now faced with production costs that far outweighed profits. |
Name the sixth factor for the Great Depression | A reduction in employment (severe unemployment) |
At its peak unemployment during the Great Depression hit nearly how much percent in the US and even higher in other nations around the world? | 25% |
Who is the British economist that proposed that the government needs to increase spending money and cut taxes during times of economic crisis? | John Keynes (Keynesian economics) |
Who is John Keynes? | He is a British economist that said there should be an increase in amount of spending and cut taxes |
What was Keynes goal mission? | it stimulates consumer spending by employing consumers (less taxes means more money to spend). |
Who refused to provide welfare and unemployment relief? | President Hoover |
What did the Reconstruction Finance Corporation do? | Hoover ordered it to give $2 billion in loans to faltering banks and companies. |
What was the intended effect of the reconstruction finance coorporation giving 2 billion dollars to banks? | the money/prosperity would eventually “trickle down” to the millions of suffering, unemployed Americans. |
What was the result of the reconstruction finance corporation? | Many companies did not qualify for the aid/loans; the measure did not provide the desperately needed immediate relief for those who were destitute. |
Hoover's policies were very ineffective. Unemployment soared from how much percent to how much? | 5% to 25% |
What is the Bonus army? | Veterans from WWI march on Wash D.C. to get relief |
What is the Bonus Bill? | giving war bonuses earlier than due date |
Does Congress pass the Bonus Bill? | No |
How many veterans disperse? | 2000 |
In response to the veterans what does Hoover order? | Federal troops with machine guns and tear gas to drive them out of Washington D.C. |
How many veterans were injured? | 100 |
How many babies die and from what? | one from tear gas |
Who said "Nothing to fear but fear itself"? | FDR Franklin Dealno Roosevelt |
What is the "Hundred Days"? | It is the first 100 days of the new prez. we see what eh has done so far to help his country. |
Who said, " I have a new deal for the American people"? | FDR |
Emergency Banking Relief Act of 1933: | - Closed all banks for 4 days (march 9th – march 13th) until they could be certified as financially healthy by federal reviewers; only healthy banks re-opened |
How many days were the banks closed? dates | 4 days. March 9-13 |
What was the main goal of the Federal Emergency RElief Act? | relieve adult unemployment |
How much money did the Federal Emergency RElief Act give to local and state governments to run projects? | 3.1 billion |
What two good things did the Federal Emergency Relief Act do? | 1) gave food to the unemployed 2) gave over 20 million people jobs |
What does TVA stand for? | Tennesse Valley Authority |
What did the TVA do? | 1) constructed power lines 2) distributed electricity |
What was the AAA of 1933? | paid farmers not to grow crops and bought animals just to kill them |
Why was the AAA of 1933 unconstitutional? | dealt with intrastate commerce |
What was the Soil Conservation and Domestic Allocation Act? | : paid farmers to plant soil-building crops (ex: rye, which protects the soil from erosion with its roots and suffocates weeds) instead of staple crops (most common foods in people’s diets – ex: wheat, corn, oats, potatoes, |
Example of soil building crop | rye |
Example of staple crops (diet) | wheat corn oats potato |
Why was the Social Conservation and Domestic Allocation Act constitutional? | dealt with interstate commerce and it can be done for a different reason |
What was the AAA of 1938? | government puts limits on amount of crop production, penelties for overproduction |
Why is the AAA of 1938 constitutional? | dealt with interstate commerce, also for protection because excessive production can harm interstate commerce |
What happened in the Mulford vs. Smith case? | AAA of 1938 constitutional because act intended to foster and protect interstate commerce. |
Securities Act | created the Security and Exchange Commission to ensure fairness and lawfulness as applied to stock and bond trading. |
Glass Steagall Act | Created the Federal Deposit Insurance Corporation (FDIC) to insure deposits in banks to restore public confidence in banks. |
What did the National Industrial Recovery Act make? (NIRA) | NRA National Recovery Administration |
What did the NRA do? | They made regulations regarding actions among trade groups |
What supposed "laws" did the NIRA make? | 1) all workers can join the union of there choice, 2) workers can bargain collectively for wage increases and benefits, 3) allowed workers to go on strike to meet their demands |
Schechter Poultry Corp. vs US | NRa laws are not real laws because you are an executive agency not the congress. |
how many justices are in the Supreme Court? | 9 |
what are the 4 horsemen? | four justices that always opposed new deal programs |
how many justices always opposed new deals and why? | 4 bc unconstitutional |
How many justices were supporters of the New deal programs? | 3 |
Who are the 3 supporters of New Deal programs? | Brandies, Stone, and Cordozo |
How many swing vote justice were there and who were they? | 2 (Charles Hugghes and Roberts) |
Who called the supreme court "9 old men"? | FDR |
Who said the supreme court were out of touch with America's needs? | FDR |
What did FDR want to do to the Supreme court? | He wants 21 justices instead of 9 |
How many votes need for constitutional amendment to be passed? | 3/4 th votes in state legislature, and 2/3rds vote in each chamber of Congress |
Was FDR's amendment enacted? | No |
If amendment was approved what would that mean? | FDR himslef would appoint 12 justices and it would ensure the prez's decision |
What happens to Robert after FDR's failed attempt to add 12 justices? | Roberts is a supporter of new FDR deals |
What refers to "A switch in time saves nine"? | Robert going from a swing vote (opposed mostly) to a supporter. Now FDR wont try to change the structure anymore. |
Who is in control of Italy? | Mussolini |
Who was an Italian soldier? | Mussolini |
Did Mussolini like the WWI treaties? | no |
What is Fascism? | a system of government: 1) a centralization of authority under a dictator, 2) suppression of the opposition using censorship, 3) a policy of belligerent nationalism |
what does mussolini threaten to do? | March on Rome |
what does Mussolini want? | Political recognition |
What title is Mussolini given? | Prime Minister |
How does Mussolini "maintain order"? | 1) suspended election, 2) no more political parties, 3) established himself as dictator |
Who gains control in Germany? | Hitler |
What was Hitler's early job? | Austrian painter |
What Hitler and Mussolini injured during WWI? | yes |
Does Hitler like WWI treaties? | No |
What political party does hitler join? | Nazi party/ National Socialist German Workers Party |
Hitler and how many soldiers wanted to overthrow the German government? | 3000 |
What was Hitler arrested for? | trying to overthrow German gov |
How many years in jail Hitler sentenced to? | 5 |
How many months did Hitler actually spend in jail? | 9 |
What is the name of Hitler's autobiography? | Mein Kampf My struggle |
What 2 things were mentioned in Hitler's autobiography? | racial purity and blaming the Jews for Germany's economic problems |
What did Germany suffer from? | unemployment, inflation, debt |
What promises did Hitler make? | 1) stabilize the country, 2) rebuild economy,3) restore the German empire to its old powerful status |
What is the name for the German Parliament? | Reichstag |
Who was named "der fuehrer"? | Hitler |
What did Hitler do just like Mussolini? | he suspended all civil liberties and any political oppostion |
What did Hitler do that was the direct violation of the treaty of versi? | invaded Rhineland |
Hiler said if this country and that country had resisted his move he would have backed down? What countries? | Britain or France |
What does Hitler annex? | Austria |
What place did Hitler demand surrender of? | Czechoslovakia claiming they had a German pop. |
What was the "Munich betrayal"? | France fails to honor its alliance/treaty with Czecheslovakia at the Munich Conference |
What happens at the Munich Conference? | France doesnt honor its treaty with Czech |
where and when was czech formed? | in central europe after the dissolution of austria hungary at the end of WWI. |
hilers wants more land so he thereatens a war unless he gets this (part of Czech and German speaking ppl)? | Sudetenland |
Representatives from which countries meet in Munich, Germany to discuss Hitler and the Sudetanland? | britain, france, germany, and italy |
Who is the French prime minister? | Daladier |
Who is the Italian minister? | Mussolini |
Who was not invited to the Conference at munich? | Czech |
What is the Munich Conference also called? | Munich Dictate |
Who is the British Prime Minister? | Neville Chamberlain |
What does neville Chamberlin do? | He promises Hitlerall areas in Czech were 50% are Germans and he persuades France to agree. Germany then says they wont take any more land. |
Who is told and by whom that it could either resist Germany alone or submit to the "prescribed annexations"? | Britain and France told Czech |
What is the name of Chamberlin's (Britain) famous speech? | "peace for our time" in London |
What does Chamberlin think? | War is a fearful thing and we should fight on bigger issues than that (Czech). |
T or F Czech has a multinational pop. | T |
What is Czech's response to the "Munich betrayal"? | They abide by the agreement |
Who said this quote, Britain and France had to choose between war and dishonor. They chose dishonor, but they will get war." ? | Winston Churchill |
Who is the Chancellor of Exchequer and his position is similar to the Sec of Treasury in US? | Winston Churchill |
When does Germany break the Munich Conference pact? | 6 months later |
Where does Germany invade when violated the Munich pact? | Bohemia and Moravia |
Which country invades the rest of Czech bc encouraged by Nazis? | Hungary |
T or F Germany extends holocaust to Czech | T |
how many Jews in Czech were killed by the Germans? | 263,000 |
What was the Nazi's "Final Solution/Holocaust"? | They attempt to get rid of all "inferior races" |
how many Jews do the Nazis kill? | 6 million |
How many Non Jews do the Nazi's kill? | 5 million Soviets, Polish Catholics, Serbians, “gypsies”, journalists, teachers, activists, handicaps, alcoholics, homosexuals, and Jehovah’s Witnesses) |
Which countries pledge aid to Poland? | Britain and France |
Where is the Soviet Union located? | East of Poland |
Does Germany sigh a non aggression pact with the Soviet Union? | yes |
Does Germany invade Poland? What happens? | yes, then Britain and France declare war on Germany. |
What does Blitzkreig mean? | lightning war- powerful quick attacks with tanks bombs and soldiers in trucks |
What nations (major) are conquered by Nazis? | Belgium, The Netherlands, France |
What nation is left that is not under Nazi power yet? | Britain |
what is Luftwaffe? | German air force |
Does Hitler use the German air force to invade GB? | yes |
what's the RAF? | Royal Air Force |
In the air force attack with Germany and GB, how many britains died? | 20,000 |
What country did Japan want to conquer? | China |
What did Japan need? | 1) Land, 2) Raw materials, 3) New Markets for Industry |
Which place in Northern China had many raw materials? | Manchuria |
Where is Manchuria located? | Northern China |
What are the names of the Chinese governments? | Sun Yat Sen and Chiang Kai Sheck (supported by Americans) |
What is the name of the communist forces? | Mao Tse Tung |
What are the neutrality acts that the U.S. accepted? | 1) U.S. will withhold weapons and loans from nations at war, 2) US adopts a "cash and carry" policy for non military supplies- must be paid for in cash and transported by the purchaser |
What were the amendments to the U.S. Neutrality Acts? | 1) Britain and France to be allowed to purchase weaponry on a cash and carry basis, 2) American merchant ships would be allowed to transport the purchase to Britain. |
What was the first ever U.S. peacetime draft? | Selective Service Act of 1940 |
What were the ages to register for the military? | 21-36 |
Who proposed to give Britain free aid? | Franklin D. Roosevelt |
"When a neighbor's (?) house is on fire (?), you don't charge him then, for the use of a hose (?)." | Britain, Nazism, food/supplies |
What was the Lend Lease Act? | U.S. law allowing the president to aid any nation whose defense was believed to be vital to American security. |
Pearl Harbour- What colonies did Japan want? Where were these colonies? | After France fell to Germany, Japan wanted the French colonies in Indochina (near Thailand and Hong Kong). |
Did America approve of Japan occupying French colonies? | No |
How did the U.S. respond to Japan's invasion of French Indochina? | 1) Japanese assets in US are frozen (money transferred), 2) U.S. cuts off all trade with Japan, 3) US demands Japan withdraw from all conquered territory and from its alliance with Germany. |
Most of America's Pacific naval fleet was in one location in Hawaii. What is the name of this location? | Pearl Harbor |
What happened on Pearl Harbour? | Japanese warplanes flew into Hawaii for a surprise attack using bombs and machine gun fire to destroy American fleets and airfields (2400 killed, 1200 wounded). |
In North Africa, what was the name of the leader of U.S./Britain's troops? | Dwight D. Einsenhower |
In North Africa, who were the German troops led by? | Rommel ("desert fox") |
What was the result in North Africa? | 240,000 German soldiers surrender despite Hitler's command to fight till the death |
Which American general led an allied invasion into Italy? | George Patton ("blood and guts") |
In Italy, in how many days was Mussolini toppled? | 38 days |
What was the Battle of Anzio? | German troops versus the Allies. Allies win. Allies captured Rome. |
Who breaks Mussolini out of jail? | Germany |
After Mussolini was broken out of jail, what does he become the head of? | "Italian Social Republic" |
Who tried to escape from the allies but then he was killed and hunged in front of everyone? | Mussolini |
Hitler violated the non agression pact with which country? | Soviets |
Who adopted a "scorched earth policy"? | Soviets |
What was the Battle of Stalingrad? | Soviets Red Army fights the Germans with hand to hand combat. (330,000 Germans were killed, 90,000 surrendered). |
Who uses the carpet bombs to scatter on Nazi holdings in France? | RAF (Royal Air Force). |
What happened on D-day? | 4600 allied warships cross the English channel into Normady, France. Allied forces in France are over 2 million. France and Belgium are quickley freed rom Nazi control. |
After America started invading Germany from the West, what age did the Nazi's lower the age for the army to? | 15 |
What does GI stand for? | Government Issue (American soldiers) |
Battle of the Bulge | Germany vs. America. America wins. Nazi recognize defeat is inevitable. |
When Soviets invaded Germany from the East, how many people did they loose? | 27 million |
After Berlin falls, who does it fall to? | Soviets |
Who was the American commanding general in the campaign in the Pacific Rim? | Douglas MacArthur |
Battle of Midway | fought in Midway Island (northwest Hawaii), fought in the air, U.S. suprise attacks and destroys 250 Japanese planes. |
What was the significance of the Battle of Midway? | Japan is now prevented from launching any more offensive operations. |
Battle of Iwo Jima and Okinawa | Japanese vowed to fight till the death. Kamikaze attacks: suicide planes crashes into strategic Allied targets, very few POW. |
What was the codename for WWII efforts for nuclear weapons? | Manhattan Project |
How many research sites of nuclear weapons are there in Manhattan? | 10 of 30 |
Who was the Jewish physicist seeking refuge from Germany's Nazi Party and therefore came to America? | Albert Einstein |
What was Albert Einstein's idea for a new powerful weapon? | splitting the nucleus of a uranium atom |
Which Italian scientist does Einstein work with? | Enrico Fermi |
where was the first nuclear bomb tested? | New Mexico desert |
What was the result of the first detonation of the atomic bomb? | huge crater was created, shattered windows from 125 miles away |
The nuclear detonation was also known as this? | Trinity Test |
Who passed away after the detonation of the first nuclear bomb? | FDR |
Who is the new prez after FDR? | Harry Truman |
Why did Truman want to avoid a land invasion in Japan? | becuase using atomic bombs against Japan would save lives. American soldiers would not have to go fight and risk their lives. It would induce surrneder without a very costly land invasion. |
Where did the U.S. drop the first bomb? | Hiroshima (southern Japan). |
What was the effect of detonating the bomb in Hiroshama? | 140,000 casualties from explosions, burns, or radiation energy. |
Where was the second bomb dropped in Japan? | Nagasaki |