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| Question | Answer |
| Acts to help unemployment | CCC, PWA, FERA and CWA |
| What is the CCC | helped young men age 18-25, gave them labouring jobs developing national parks and paid them $30 a month and $25 went to their families. they were also helped with their literary skills. but there was no guarantee they would get a job after leaving the CCC |
| What is FERA? | Controlled by Harry Hopkins, given a $500million budget and built 7000 bridges and 5000 public buildings. There was a lot of state opposition to FERA for example the Governors of Oregon and Georgia and openly opposed helping the poor. |
| What is the CWA? | A federally controlled version of FERA, to tackle the state opposition, given a budget of $400million. provided 1million people with jobs mainly labour but 10% clerical. But was very expensive so was such down on 31,3, '34 |
| What is the PWA? | Harold Ickes, budget of $3.3bill, spent $110mill in 6 months and built 13000 schools and 50,000 miles of road. (failed) |
| What Act was involved in reforming business? | NRA (June '33) |
| What was the NRA? | signalled move away from laissez Faire. provided codes of practice for industry such as children under 16 could not work in labour. collective bargaining for wages made a workers right. Drew up 557 codes of conduct, many unworkable due to the speed in which they were made. excluded agricultural and domestic servants (African Americans) and trusts which led to price fixing. Deemed unconstitutional in 1935 |
| What were the acts for banking? | The Glass-steagall Act, The Emergency Banking Act, The Gold reserve Act, The London economics conference, The Federal securities Act, The silver purchase Act and The Farm Credit Administration and Home Owners Loan Act. |
| What is the Emergency Banking Act? | Roosevelt used Wilsons Trading with the Enemy Act to declare a national bank holiday from 6th to 9th of March, the treasury investigated banks threatened with collapse and the Reconstruction Finance Corporation took over bank debts |
| What was the Glass-Steagall Act June '33 | prevented high street bank fro taking part in investment loans. The Federal Deposit Insurance Corporation (FDIC) Act created with in it guaranteed all bank loans up to $5000. there was less bank collapse and in 1936 their were no bank closures. But the division between state and federal banking remained. |
| What happened at the London Economics Conference? | Other countries wanted gold slandered stabilising, but Roosevelt was convinced that Americas economic problems were insular. So he lowered Americas gold standard, which brought about the collapse of the conference. |
| What is the Gold reserve Act? | accepted the devaluation of the dollar, and was set to $35 per ounce of gold. which made imports dearer and exports cheaper. Roosevelt hope this would raise prices and Aid economic recovery. |
| What is the silver purchase act? | Also wanted to raise prices by increasing amount of silver in coinage, to 30% of gold reserve. had little impact on US economy. |
| What is the Federal Securities Act? | was to limit speculation, all new shares had to be registered with the Federal Trade Commission. It took in till June '34 for the Securities and Exchange Commission to regulate the share and stock market. budget was raised to $5.3 mill by 41. It took over more than 20 stock markets. |
| What is the Farm Credit Administration and Home Owners Loan Act? | The FCA helped farmers pay their mortgages by lowering interest rates. The HOLC (corporation) did the same for Home Owners. |
| What Acts Helped Farmers? | The AAA and The TVA |
| What Was the AAA? | Controlled by Wallace, Over production had resulted in low farm prices, the AAA wanted to stabilise farm prices. So they made farmers reduced the amount of land being cultivate or reduce production, all major commodities reduced. By '35 75mill acres of land taken out of production, but it meant more unemployment for farm labourers. |
| What is the TVA? | aim was for farm regeneration, flood control and cheep electricity. In '33 2% of Farms had electricity.by '45 75% had electricity, a network of dams had been built to regulate the flow of the Tennessee river (which prevented flooding and soil erosion) The TVA faced opposition from private business |
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