The Three R's of The New Deal Flashcards

Questions and Answers

What is Relief in the context of The New Deal?

Provided instant action to stop the deterioration of the economy.

What was the purpose of the Bank Holiday?

Declared so that the panic would be stopped.

What did the Emergency Banking Act accomplish?

Closed the insolvent banks and only reopened the solvent ones.

What was the Civilian Conservation Corps (CCC)?

Temporary jobs to unmarried single adults filling sand bags and helping out at disaster situations. Signup and view all the answers

What did the Federal Emergency Relief Act (FERA) provide?

Gave immediate help to those that needed it in the form of cash payments. Signup and view all the answers

What was the role of the Civil Works Administration?

Provided temporary jobs repairing roads and bridges. Signup and view all the answers

What does Recovery refer to in The New Deal?

"Pump - Priming" Temporary programs to restart the flow of consumer demand. Signup and view all the answers

What was the purpose of the Agricultural Adjustment Act (AAA)?

Taxed food processors and gave the money directly to farmers as a payment for not growing food. Signup and view all the answers

What did the National Industrial Recovery (NIRA) create?

Created the NRA (National Recovery Administration). Signup and view all the answers

What was the Tennessee Valley Authority (TVA) responsible for?

Agency created to build dams in the Tennessee River Valley. Signup and view all the answers

What did the Home Owners Loan Corp provide?

Gave loans to homeowners so they could pay their mortgages. Signup and view all the answers

What was the Works Progress Administration (WPA)?

Provided long term government jobs building schools and other public works projects. Signup and view all the answers

What does Reform mean in the context of The New Deal?

Permanent programs to avoid another depression and insure citizens against economic disasters. Signup and view all the answers

What is the function of the Securities and Exchange Commission (SEC)?

Permanent agency set up to monitor stock market activity. Signup and view all the answers

What does the Federal Deposit Insurance Corporation (FDIC) do?

Insures depositors' money in savings banks. Signup and view all the answers

What is the purpose of the Social Security Administration?

Ensure that the older segment of society always would have enough money to survive. Signup and view all the answers

What did the National Labor Relations Act (NLRA) accomplish?

Helped unions and thus helped workers. Signup and view all the answers

What was the Soil Conservation Act designed to do?

Mandate proper soil maintenance to avoid another dust bowl. Signup and view all the answers

Study Notes

Relief

Relief aimed to provide immediate actions to halt economic decline.
A Bank Holiday was declared to alleviate panic in the banking sector.
The Emergency Banking Act closed failing banks, reopening only those financially stable.
The Civilian Conservation Corps (CCC) engaged unmarried adults in temporary jobs, such as disaster relief efforts, with housing provided in barracks.
The Federal Emergency Relief Act (FERA) offered cash payments for urgent assistance to those in need.
The Civil Works Administration funded temporary jobs in infrastructure repair, such as roads and bridges.

Recovery

Recovery strategies involved "pump-priming" programs to rejuvenate consumer demand.
The Agricultural Adjustment Act (AAA) taxed food processors, utilizing the funds to compensate farmers for not planting certain crops, increasing prices through reduced supply.
The National Industrial Recovery Act (NIRA) established the National Recovery Administration (NRA) to set economic regulations, symbolized by the blue eagle.
The Tennessee Valley Authority (TVA) was created to construct dams for improved irrigation and cost-effective hydroelectric power in the Tennessee River Valley.
The Home Owners Loan Corporation provided loans to homeowners to help them maintain mortgage payments, preventing homelessness and stabilizing banks.
The Works Progress Administration (WPA) focused on long-term public works employment, including the construction of schools and infrastructure.

Reform

Reform programs were designed to establish safeguards against future economic downturns and protect citizens from financial crises.
The Securities and Exchange Commission (SEC) was established to regulate stock market activities and prevent fraud, ensuring investor protection.
The Federal Deposit Insurance Corporation (FDIC) was created to insure bank deposits, initially covering $5,000, later increased to $100,000.
The Social Security Administration provided financial security for elderly citizens, encouraging them to maintain spending power throughout life.
The National Labor Relations Act, through the National Labor Relations Board (NLRB), supported labor unions, enforcing fair business practices and labor laws.
The Soil Conservation Act mandated sustainable soil management practices to prevent occurrences similar to the Dust Bowl.

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Description

Test your knowledge of the key components of the New Deal with these flashcards. This quiz covers terms related to relief efforts aimed at stabilizing the economy during the Great Depression. Prepare to enhance your understanding of historical economic measures.