History 1302 - Exam 2 - Ch 26

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American History 1302 - Exam 1 - Ch 26

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What are the reasons given in your text for the "Great Crash" of 1929?
sale of durable goods declined, construction of houses and buildings fel slightly. then speculation. Black Thursday - stock market crashed.
What corporation did Hoover propose and Congress create in 1932?
Reconstruction Finance Corporation (RFC)
What was the corporation's goal?
Reconstruction Finance Corporation (RFC) - loaned government money to financial institutions (banks and insurance companies) to save them from bankruptcy
What major govt agency did FDR create during his first "hundred days?"
TVA - Tennessee Valley Authority - building of series of dams in seven states along TN River to control floods, ease navigation, produce electricity
What was the NRA, and what was it supposed to do?
National Recovery Administration - attempt to achieve economic advance through planning and cooperation among govt, business, and labor
Was the NRA successful?
What was the AAA and its purpose?
Agricultural Adjstment Administration - allocate acreage among individual farmers, encouraging them to take land out of production by paying them subsidies.
What was the CCC and its purpose?
Civilian Conservation Corps - enrolled young men and sent them to work on nation's public lands, cutting trails, planting trees, building bridges, and paving roads.
What was the CWA and its purpose?
Civil Works Admin - put 4 million men and women to work building roads, schools, playgrounds and athletic fields.
What was the WPA and its purpose?
Works Progress Admin - usual construction and conservation projects, also preserve skills of American artists, actors, and writers.
What 3 things was Social Security supposed to provide?
1. provided for old-age pensions financed equally by a tax on employers and workers.
2. set up a system of unemployment compensation on a federal-state basis.
3. direct federal grants to the states for welfare payments to the blind, handicapped, needy elderly, and dependent children.
What was the Wagner Act and its purpose?
outlaw company unions and other unfair labor practices in order to ensure collective bargaining for unions. created a National Labor Relations Board to preside over labor-management relations and enable unions to engage in collective bargaining with federal support. act outlawed union-busting tactics and decreed that majority of workers union would negotiate with management about wages, hours, working conditions.
What was the Fair Labor Standards Act and its purpose?
law that aimed to establish both minimum wages and maximum hours of work per week.
What effective strike technique was developed by the newly formed UAW?
sat down in factory, refusing to leave until the company recognized their union, and threatening to destroy the valuable tools and machines if they were removed forcibly
What was the "court-packing" scheme all about?
Supreme Court was FDR's last obstacle to achieve more of his goals. FDR declared Supreme Court was falling behind schedule because of the of the older members (over 70 - 6 justices.) FDR appointed 4 new justices (9 to 13) to vote for his policies. Supreme Ct said was up to date. FDR had bad relations with Congress afterwards.