Unit 6 controversy new deal and its impact

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6: The New Deal and its impact (Section B
Controversy)
The nature of the FDR administration and the New Deal
Dealing with the banking crisis 193334
Dealing with the crisis in agriculture 193335
Dealing with unemployment and Industry 193335
The socalled second New Deal 193538
Welfare unions and restructuring of former measures.
The impact of the New Deal in terms of reviving the economy, creating
greater security, impact on race and gender issues.
Offers a survey of the reforms introduced by FDR administration to the US
entry into WWII at the end of 1941, and seeks to assess the success of
the reforms in dealing with problems created by the relentless slump.
Will examine whether they assisted or slowed down recovery and if they
provided effective relief
Will also questions if the measures transformed the USA in any way and
provide an opportunity to consider if the New Deal was a radical departure
or a pragmatic series of response to an intractable crisis.
Historians have argued over these points, and many conclude with the
viewpoint that it was rearmament and then the war that really transformed
the USA.
Key Events
o 1932, November= Roosevelt elected by a landslide
o 1933, March= Roosevelt's inauguration
o MarchJune= The Hundred Days
o 9th March= Emergency Banking Act
o 31st March= Civilian Conservation Corps
th
o 19 April= US leaves Gold Standard
th
o 12 May= Federal Emergency Relief Act
o Agricultural Adjustment Act
o Tennessee Valley Authority
o Glass Steagall Banking Act
o Farm Credit Act
o National Industrial Recovery Act= Public Works Act and
National Recovery Administration
o 1934= Farm Mortgaging Refinancing Act
o Crop Loan Act
o JonesConnally Farm Relief Act
o Federal Farm Bankruptcy Act
o Securities Exchange Commission set up regulating stock market
o Congressional elections reinforce radical Democrats
o 1935= Soil erosion
o Works progress Administration established
o Rural Electrification Act
o Social Security Act
o National Labor Relations Act (Wagner Act)

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Wealth Tax Act
o 1936= Soil Conservation Domestic Allotment Act
o Roosevelt wins second term with a landslide
o 1937= WagnerSteagall Act establishes US housing Authority
o 1938= Agrciultural Adjustment act
o Fair Labor standards Act mimimum wage
o Federal National Mortgage Association set up
o 1939= outbreak of war in Europe heavy demand from GB and france
helps to stimulate US economy
o 1940= US begins rearmament
o 1941= outbreak of war with Japan and Germany
The style and approach of the new administration…read more

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¼ of Americans lost their homes in 1932 alone, on top of the 350,000 lost
in previous years.
o Capitalist USA seemed to be approaching meltdown
o Social consequences of slump and depression= deeply troubling.
o Crime escalated= an index of the rising level of human misery. Prison
population increased by 40%.
o Marriages and births declined
o Young skilled men sought refuge in the `Socialist paradise' that was
stalin's Russia.…read more

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Act also used Hoover's RFC to buy stock and sometimes
buy up bank debts in order to make institutions financially sound when
they reopened. Legislation banned: export of gold and suspended dollar
convertibility to gold.
o 70% of banks were able to reopen and by the beginning of April $1billion
had been registered as bank deposits= savings were moving from under
mattresses to entering the financial system again= vital element of
recovery had been achieved.…read more

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Commodity Credit Agency = made loans to farmers to store their
products and the loans only had to be repaid when a certain price for the
crop was reached (products= corn, cotton, milk..) Payments= financed by
a tax on food processing= cost being passed onto the consumer.
o Critism= rural poor neglected as funds went to largescale producers and
landowners. AAA= sharecroppers and migrant workers suffered badly and
gained little help from government.…read more

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Soil Erosion Act, 1935 and Soil Conservation Act 1936. = Farmers were
paid for planting soil conserving grasses and legumes, thereby reducing
the acreage of crops whose output was seen as too great.
o No pretence at solving problem of how urban America could afford to buy
what US farmers could produce.
o Spread of electrification= increased the demand for consumer goods
from industrial areas and as prosperity slowly returned there, the capacity
to buy more agricultural goods improved.…read more

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Significantly= code were established to regulate
prices, working conditions and agree minimum wages--the agency
excluded agricultural workers and domestic servants.
o Public Works Administration = well funded, with $3.5billion available but
its record is regarded as mixed. Objective= to provide funding for public
works schemes, which would make a significant contribution to economic
and social recovery. Scheme involved= road building, dam construction,
hospitals and schools. Improvement to US infrastructure, would also boost
the construction industry and put money in workers' pockets.…read more

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Over 2 million
employed within 6 months.
o Hopkins= granted a budget of $4billionand began to allocate it with relish.
By 1943= spent $11billion on war relief employing 8 million.
o Schemes (CCC, PWA, WPA, CWA) only employed 1/3 of those who
needed work and deliberately offered lower wages than the private sector,
because they were primary relief schemes.
o Emergency Relief Appropriation Act 1935 = led to setting up of other
relief agencies amongst them the resettlement agency.…read more

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Automobile industry) their rights were severely circumscribed.
o Number of congressman believed= fundamental reform of industrial
relations was essential = it would provide greater stability and put a fair
wage in people's pockets to help stimulate longterm recovery.
o National Labor Act = response to striking down of NRA. Act created a
National Labor Relations Board. Aim= to force employers to recognise
trade unions of workers in a plant request it and to recognise just one
union as the representative of the workers.…read more

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The stock market collapsed by 30% in 1937 and unemployment rose from
6 to 10 million in 1938. All caused by the treasury cutting spending much
too early!
Curing a sick economy
o Widespread agreement= New Deal did not cure the economy.
o Shlaes and Powell= FDR's policies actually worked against recovery and
prolonged the depression.…read more

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