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Immigrants During the depression
*With less demand for working during the depression white Americas soguht after jobs filled by Mexican immigrants
*Public hostility for Mexicans grew whichmade It difficult for them to enter the U.S.
*Hoover authorized the Mexican reputation act to send Mexicans back to lack of jobs -
Great Depression
*when panicked sellers traded nearly 16 million shares on the new York stock exchange
*corporations could no longer raise funds
*in 1940 15% was the lowest employment rate
*people had fought for their daily survival. banks failed and many people were out of work
*the money supply growth caused by huge international gold influence was a crucial source of the recovery in the us economy
*people went homeless -
Stock Market Crash
-The US economy had come to depend on that activity before the crash nearly cent of every dollar loaned in America was used to buy stocks.-Buying on the margin is the purchase of an asset by paying the margin & borrowing the balance from a bank or broker
-Return to normalcy A return to the way of life before WW1
America first plan- President Herbert Hoover urged patience and self reliance he thought the crisis was just a passing incident in our national lives. -
Stock Market Crash
Causes- The stock market crash of 1929 was largely caused by bad stock market investment. Low wages, a crumbling agriculture sector, an high amounts of debt that couldn't be liquidated. Upward trends in the stock market caused many people to invest, money, even if they didn't have the financial assets to back up their investments
Buying of Margin-became so popular that by late 1920s, ninety percent of the purchase price of the stock was being made with borrowed money -
William Randolph Hurst
*He was leading supporter of franklin Roosevelt in1932, but broke with FDR and became his most prominent enemy
*Franklin d Roosevelt New Deal gave way however, to vigorous opposition to the president polices on taxes trust in labor and hurst became stridently conservative -
Dust Bowl
*Drought is a part of a weather circle, naturally occurring on the great planes
*farmers from TX to N.D.used to break up the grasslands and plant millions or acres of new farmland
*Dust traveld hundreds of miles, plagued by dust storms and evictions, thousands of farmers an sharecroppers left their land behind
*By the end of the 1930s hundreds of thousands of farm families had migrated to cali an other pacific coast states -
20th Amendment
Causes: called "lame ducks' would take advantage and pass laws
What did it illegally it cut off all chances laws changed the beginnings and terms of the elected federal officials
Effects: IT stopped lame ducks session -
Federal Deposit Isurance corporation
*The FDIC provided federal insurance for individual bank accounts of up to $5,000 reassuring millions of banks customers that their money was safe
*congress and the president also worked to regulate the stock market,in which people had lost faith because of the crash of 1929
*FDIC was part of Roosevelt's new deal the 3 R's relief, recovey, and reform -
The gold standard
*gold & silver where traded
*us of the gold standard came to an end in 1933 when president Roosevelt issued an executive order outlawing the ship of gold
*Roosevelt wanted people to rely on paper money an order to expand the money supply & stimulate economic activity -
21st Amendment
*in 1933, 21st amendment to the constitution was passed and ratified ending national prohibition.
*after the repeal of the18th amendment, some states continued prohibition by maintaining statewide temperance laws -
Agriculture Adjustment Act/New Deal
*The agriculture act was created in 1933 to reduce crop surplus and therefore effectively raised the value of crops
*to producers who curtailed the output of crops and livestock's.
*the AAA also paid farmers to not grow crops
*this act came to Rivelt's recovery legislation -
Sec/new deal
*The securities and exchange commission act was created to review over the stock markets. Prevent fraud an guard against other stock markets collapsing
*long term effect of this passage is that they maintain efficient markets and protect investors
*this gives investorscommon sense to buy it or not
*Roosevelt's Reform Legislation -
Period: to
First term of franklin D. Roosevelt
*His positive approach and charm help him defeat Herbort Hoover in Nov.1932
*Depression was the only issue of consequence in the campaign. Americans had to choose between unsuccessful policies Hoover claimed Roosevelt would intensify the disaster
*The economy was in depression no jobs or homes franklin took office and declared four day bank holiday & urged americans to put back savings
*Roosevelt's famous quotes"only thing we have to fear is fear itself", meaning fear only made things worse -
New deal
Roosevelt blamed the bankers selfishness and financiers for current crisis
*Roosevelt passed through legislation which is hard and less critical crisis times
*All the important bill submitted in these 1st 100 days he explained these new deal measures as the 3 R's -
Gold Reserve Act
*Untied States had a bi-metallic system of money
*silver was also traded
*Gold standard came to an end in 1933 when Roosevelt issued an Executive order outlawing the ownership of gold besides jewelry
*Roosevelt wanted people to rely on flat money "paper money" -
Henry Long "Share our Wealth"
*was a democratic governor of Louisiana opposed the New Deal, bc he believed Roosevelt plan didn't help people living in poverty after the depression
*his plan wanted to take money from wealthy and give to the poor. His assassinated sep.10 1964 -
Reform of the New Deal
*Social security was probably the most important measure of the new deal. It provides workers with unemployment insurance, old age pensions, and insurance if they died early. workers and their employers each paid new contributions to fund these benefits in part of Roosevelt -
Migrant Mother
*She focused he photography career on destitute migrant workers migrant workers,childrens, and mothers
*her career helped raise funds by federal agencies it also helped draw attention to the desperate conditions rural America and helped to underscore the need for direct relief -
Judicial Procedures Reform Bill
*He proposed a plan to allow the president to add a new appointment to the supreme court for each justice over 70yrs old
*This plan would have given Roosevelt the right to appoint six justices giving him control over the court
*His court packing scheme was widely viewed as an attempt to upset the traditional separation of powers
*Roosevelt new deal, the power of the federal government moved beyond the regulatory role it had under the progressives -
Robert Taft
*Taft was elected for US senate in1938
*he opposed and denounced FDR's NEW deal said that it had trends. Taft's plan economy in gov, a balanced budget, and less centralization of power in the national capitalist -
Grapes of Wrath
Okies: where natives farms in Oklahoma forced to move due to drought and farm foreclosures in the 1930s to California using route 66 to seek jobs
Migrants Hopees vs. Reality people came from all around the US with hopes of a better life and better jobs, but only came to find even more poverty or if not already poor they became poor -
Tennessee Valley
*Built all government owned dams along the tea river
*controlled floods & produced electricity
*some feared it as a form of socialism
*part of 3rs reform of new deal