HIST 2057 Chapter : President Hoover Responds
Document Summary
President hoover responds: reconstruction finance corporation (rfc) 1932, make government credit available to struggling banks, railroads, insurance companies, government aid to big businesses, did not believe in welfare, though, trickle-down economics . The election of 1932: fdr (d) i pledge a new deal for the american people , people wanted to hear this. First 100 days: brain trusts , the only thing we have to fear is fear itself , national recovery administration. It recognized the right to unionize: very helpful at first, bank holiday and emergency banking act, fdic: federal deposit insurance corp, banks can not engage in the stock market anymore. Ccc- civilian conservation corps: provide jobs for young, unmarried men, restored beaches, worked on parks, fairly successful. Agriculture adjustment act: government paid farmers to kill and burn livestock and such. Tva: tennessee valley authority, created a form of hydroelectric water, cheap, made it more available, helped with flood control as well.
