The American Yawp Chapter 23 Flashcards

Economic Impact of the Great Depression

• "Black Tuesday" marked the stock market's significant decline, signaling the onset of widespread economic crisis.
• Weak banking systems and pervasive public panic were fundamental causes of the Great Depression.
• The Smoot-Hawley Tariff imposed the highest tariffs in U.S. history, exacerbating economic woes.

Government Responses and Programs

• Federal Reserve actions were criticized for failing to stabilize the economy during the crisis.
• Associationalism aimed to promote voluntary cooperation among businesses, with the belief that it would encourage self-reliance and economic recovery.
• The Reconstruction Finance Corporation provided emergency loans to financial institutions, bypassing direct aid to struggling Americans.
• "Hoovervilles" emerged as makeshift towns for the displaced during the Depression.

Unemployment Relief Efforts

• The President's Organization for Unemployment Relief (POUR) faced overwhelming challenges as private charity systems collapsed under demand.
• The Bonus Army comprised 15,000 unemployed veterans demanding compensation for their service during the war.

Environmental and Social Challenges

• The Dust Bowl caused severe agricultural damage, leading to massive dust storms that devastated the economy and the livelihoods of farmers.
• Dorothea Lange captured the struggles of migrant families through poignant photography, highlighting their hardships and resilience.

Political Leadership and Change

• Franklin D. Roosevelt utilized progressive principles to combat the economic crisis, overseeing significant changes in policy.
• Frances Perkins became the first female Secretary of Labor, playing a crucial role in shaping labor policies.
• The "Brain Trust" was a group of advisors who influenced Roosevelt's approach to the Depression.

Legislative Measures and New Deal Programs

• The Bank Holiday temporarily closed banks to stabilize the financial system, followed by the Emergency Banking Act.
• The Glass-Steagall Act introduced federal deposit insurance and separated commercial from investment banking.
• The Agricultural Adjustment Act (AAA) sought to raise farm income by incentivizing reduced production.
• The National Industrial Recovery Act (NIRA) established the National Recovery Administration to coordinate prices and working conditions.

Job Creation Initiatives

• The Civilian Conservation Corps (CCC) focused on environmental projects, employing young men for public works.
• The Works Progress Administration (WPA) provided jobs through local government projects, addressing high unemployment.
• The Public Works Administration (PWA) funded large-scale infrastructure projects to stimulate economic growth.

Controversial Figures and Ideas

• Huey Long's "Share Our Wealth" program resonated with those seeking economic justice amid the Depression.
• Francis Townsend advocated for old age pensions, highlighting the needs of the elderly population.
• Father Coughlin gained notoriety for inflammatory rhetoric against Roosevelt’s banking policies and promoted a new vision of "social justice."

Second New Deal and Social Security

• The Second New Deal resulted in a progressive federal income tax and new protections for workers organizing unions, including the Wagner Act.
• The Social Security Act of 1935 established social safety nets, providing pensions and unemployment insurance.

Racial and Migration Issues

• The Scottsboro Boys case symbolized racial injustices in America and became a pivotal civil rights issue.
• "Okies" characterized migrants fleeing the Dust Bowl in search of better opportunities, drastically reducing Oklahoma's population.
• Exclusionary practices targeted Mexican immigrants, amplifying the hardships faced by this community during the era.

Long-term Effects and Legacy

• The Court-packing scheme reflected Roosevelt's contentious relationship with the Supreme Court as he sought to expand its membership.
• John Steinbeck's "Grapes of Wrath" captured the plight of displaced families, illustrating the cultural impact of the Great Depression.
• The Tennessee Valley Authority (TVA) aimed to modernize and revitalize the South through infrastructure and economic development initiatives.