How far was President Roosevelt able to solve economic problems of USA by 1941
- Created by: edie cooke
- Created on: 04-05-13 11:08
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- How far was President Roosevelt able to solve the economic problems of the USA by 1941?
- AGRICULTURE
- AAA
- FIRST NEW DEAL agency, done to tackle issue of overproduction. Relief and recovery.
- Goal was to reduce crop surplus and effectively raise values of crops.
- Stimulated agriculture, benefited larger companies but was to the disadvantage of sharecroppers and small farmers.
- REA
- SECOND NEW DEAL, provided low cost loans in order to encourage spreading of electrical power to rural US.
- Effective!
- By 1940, 40% of farms had electricity. Roosevelt slowly closing gaps between rural and urban US.
- AAA
- BANKING
- After Wall Street Crash reform was needed.
- Roosevelt successfully stabilised banks and system of credit by the FIRST NEW DEAL.
- Introduced Banking Act, established various banking reforms and was carefully designed to restore financial constancy.
- REFORM and REGULATION during Great D
- Introduced Banking Act, established various banking reforms and was carefully designed to restore financial constancy.
- Introduced Bank Holiday, fireside chats.
- Persuaded people to put money back into the banks, helping towards the economy.
- UNEMPLOYMENT
- CCC 1933, public relief program FIRST NEW DEAL.
- Provided work camps for men aged 18-25, unskilled manual labour related to the conservation and devlopment of natural resources.
- 2.5 million men participated, providing them with shelter, clothing and food along with a wage $30 a month.
- After FIRST NEW DEAL unemployment still remained at 11 million.
- Not brought about economic recovery. Still desperate poverty and inequalities of the past.
- SECOND NEW DEAL, ERA created the WPA to provide public works for the unemployed.
- Key agency and administration in regard to New Deal, single largest expenditure in the US Government's history $4.8 billion.
- 1/4 of unemployed went to WPA, masses of money behind it.
- Ran for 8 years, employed 8.5 million people
- Criticised for diverting workers away from private industry, deeming public sectors unnecessary.
- CCC 1933, public relief program FIRST NEW DEAL.
- AGRICULTURE
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