PSCI 2012 Lecture Notes - Lecture 5: Fireside Chats, Unemployment Benefits, Bank Regulation
30 Jan 2019
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Document Summary
Usa builds system of checks and balances, building of railroads, huge immigration. By 20th century america is industrializing, then the depression. Senator reed smoot and representative willis c. hawley and was signed into law on june 17, 1930. 1929, massive stock market crash, value of dow j. No unemployment insurance, no welfare, no bank security. People go to get their money out of the bank, everyone goes to get money and the bank doesn"t have everyone"s money. No regulation of banks, farms were closing and companies were going out of business. Millions of americans lost their jobs, homes and lives. 25% of american males in 1932 were unemployed. Fdr ran for office on a plan of economic justice. Americas checks and balances undermines fdr reforms. Fdr vetoes 4 budgets and then congress overrides his veto. General sense of common identity and belief that we had a purpose to defeat the nazis and the japanese.
