U.S. History Chapter 14 & 15
Hawley-Smoot Tariff Act
established the highest protective tariff. Designed to protect American Farmers + Manufacturers… it failed.
Federal Home Loan Bank Act
lowered mortgage rates for homeowners and allowed farmers to refinance their farm loans and avoid foreclosure.
Reconstruction Finance Corporation (RFC)
authorized $2 Billion for emergency financing for banks, life insurance companies, railroads, and other large businesses.
A policy proposed by FDR, to give relief for the needy + financial reform.
when Roosevelt closed all banks to prevent further withdrawals.
Emergency Banking Relief Act
authorized treasury department to inspect the country’s banks. The banks that were sound could re-open; others remained closed.
established the Federal Deposit Insurance Corporation (FDIC).
Federal Deposit Insurance Corporation (FDIC).
provided federal insurance for individual bank accounts of up to $5,000 reassuring customers money was safe and required banks to be more cautious with peoples money.
Federal Securities Act
required corporations to provide complete information on all stock offerings + made them liable for any misrepresentations
Securities + Exchange Commission (SEC)
to regulate the stock market and to prevent people from having inside information about companies for their own profit.
Agricultural Adjustment Act (AAA)
sought to raise crop prices by lowering production, government achieved by paying farmers to leave a certain amount of their land unseeded. Helped put money in farmers pockets.
Tennessee Valley Authority (TVA)
renovated 5 existing dams and constructed 20 new ones, created thousands of jobs, provided flood control, hydroelectric power + other benefits to impoverished regions.
Civilian Conservation Corps (CCC)
put young men (18-25) to work by building roads, developing parks, planting trees, and flood control projects.
National Industrial Recovery Act (NIRA)
sought to promote industrial growth, created the National Recovery Administration (NRA).
National Recovery Administration (NRA).
set prices of many products + established standards. The aim was to promote recovery by interrupting the trend of wage cuts, falling prices and layoffs, congress guaranteed workers right to unionize and to bargain collectively.
Civil Works Administration (CWA)
it raised hopes of the people and sparked enthusiasm for the new president- it made work projects.
Home Owners Loan Corporation (HOLC)
provided government loans to homeowners who faced foreclosures because they couldn’t meet their loan payments.
Federal Housing Administration (FHA)
created by the National Housing Act, this agency continues to furnish loans for home mortgages and repairs today.
Federal Emergency Relief Administration (FERA)
lead by Harry Hopkins, was funded with $500 million to provide direct relief for the needy. Half the money was given to states for direct grants-in-aid to help furnish food + clothing to those suffering, the rest went to support work relief for every $3 in the state program FERA donated $1.
John Maynard Keynes
an influential British economist, promoted the idea of deficit spending-(spending more money than the government receives in revenue.)
Farm Security Administration (FSA)
loaned more than $1 billion to help tenant farmers become landholders + established camps for migrant farm workers, who traditionally lived in squalid housing. This agency used pictures to create a record of the difficult times.
Works Progress Administration (WPA)
headed by Harry Hopkins, set out to create as many jobs as possible a.s.a.p. (mostly unskilled workers), it gave people a since of hope and purpose.
National Youth Administration (NYA)
created to provide education, jobs, counseling, and recreation for young people. Provided student aid for High School, College and graduate students, in exchange students worked in part-time positions at their school.
reestablished the NIRA provision of collective bargaining, also prohibited unfair labor practices such as threatening workers, firing union members + interfering with union organization. It also set up the National Labor Relations Board (NLRB).
National Labor Relations Board (NLRB)
would hear testimonies about unfair practices + hold elections to find out if workers wanted union representation.
Fair Labor Standards Act
set maximum hours at 44 hours per week, decreasing to 40 hours after 2 years. Also set minimum wage at 25 cents an hour, increasing to 40 cents by 1945. It set rules for employment of workers under 16 and banned hazardous work for those under 18.
Social Security Act
Gave old-age insurance to retirees 65+ and their spouses. Also had unemployment compensation system ($15-18 a week). Finally gave aid to families with dependent children and the disabled. Overall it provided substantial benefits to millions.
Rural Electrification Administration (REA)
financed and worked with electrical cooperatives to bring electricity to isolated areas.
Public Utility Holding Company Act (PUHC)
aimed at financial corruption in the public utility industry, it outlawed the ownership of utilities by multiple holding companies.
America’s first female cabinet member, she played a major role in creating the social security system and supervised labor legislation (secretary of labor).
Mary McLeod Bethune
an educator who dedicated herself to promoting opportunities for young African Americans. Head of the NYA Negro division.
Indian Reorganization Act
moved away from assimilation and helped to restore some reservation land to tribal ownership.
New Deal Coalition
an alignment of diverse groups dedicated to supporting the democratic party. As a result democrats dominated national politics throughout the 1930s-1940s.
Congress of Industrial Organizations (CIO)
similar to the AFL they organized workers in industrial Unions. (John L. Lewis)