Banking Act Of 1933 Essay

Banking Act Of 1933 Essay
The Banking Act of 1933 was vital to the nation. As the country was based on a gold standard, the
government was only able to inject supplies of currency based on gold in–hand. Prior to the Banking
Act of 1933, people had been hoarding supplies of gold due to their fear of the market's instability.
The government needed to inject liquidity into the market, so these supplies of gold were needed.
Banks could not make loans without this liquidity. The government established the "Federal Deposit
Insurance Corporation," which would ensure the people's deposits in banks up to $5,000. This would
lead to increased confidence in the banks, as they people's money would be secured by the
government. Banks, with these increased deposits, could loan out more money ... Show more
content on Helpwriting.net ...
Post World War I, basic commodities were produced in ever increasing numbers. This led to a
decrease in prices for these goods. The farmer's purchasing power had been reduced. The "AAA" as
meant to increase the prices of certain goods by a variety of methods. Everything from paying
farmers to reduce their acreage, to directly buying vast amounts of goods to manipulate the price
was done. While increases in prices were obtained, some farmers were overlooked. The small
operation farms, or tenant farms did not benefit as much as large farms. Tenant farmers suffered
especially when the people who owned the farm land were paid to reduce their acreage. This led to
the tenants losing their land.
The Civilian Conservation Corps was a New Deal program that employed millions of young
Americans. These workers were employed in conservation projects, and park construction.
Reforestation, and other federal projects were undertaken. These men were paid a salary, but much
of it was sent home to their families. They were allowed a small amount of spending money. This
kept millions of men employed, and their families had access to much needed funds (Text Pgs.
... Get more on HelpWriting.net ...

Great Depression Essay examples
The Great Depression was a difficult time for all the American people. It was a time of
unemployment, falling wages, and hope for recovery ("Chapter 27"). Some of the causes of the
Great Depression were government policies, economic factors, and the gold standard ("Chapter
27"). Other reasons included the fall of the stock market, overseas investments, and the investments
in Florida real estate (Farless). The president at the time of this difficult time was President Herbert
Hoover. When the Great Depression started, Herbert Hoover took matters into his own hands.
President Herbert Hoover came up with multiple recovery attempts.
Some of the recovery attempts President Herbert Hoover took were increasing credit, ... Show more
Some of the farmers harassed bank agents who were sent to foreclose their homes. Another thing
that the farmers in the Farm Holiday Association did was dump their farming goods (Farless).
Another protest that emerged was the Veterans' Bonus Army. "The Veterans' Bonus Army clash in
1932 proved to be the most damaging for Hoover" (Farless). The Veterans' Bonus Army consisted of
15,000 World War I veterans who traveled to Washington D.C. to demand their early payment of
their 1945 planned bonus (Farless). President Herbert Hoover believed that they were anarchists, so
he called in troops to break up the army (Farless). This incident was captured on film and it changed
President Herbert Hoover's popularity for the worst (Farless). After the decrease of President
Herbert Hoover's popularity, someone else became the public's favorite – Franklin D. Roosevelt.
Franklin D. Roosevelt came from a wealthy family and was a distant cousin of Teddy Roosevelt
(Farless). Many of the American voters had confidence in Franklin D. Roosevelt ("Chapter 28").
Franklin D. Roosevelt told the American people that he would make a new deal for them ("Chapter
28"). He also promised relief for the unemployment and that he would address the problems of
businesses (Farless). Although he seemed like a man that made his own decisions, Franklin D.
Roosevelt relied

FDR’s Alphabet Soup
During the summer of 1933, job recovery was still a major part of ending the Great Depression. The
National Industrial Recovery Act (NIRA) and the National Recovery Administration (NRA) was the
largest piece of industrial recovery and regulations during the time period. FDR stated, "Its object is
to put industry and business workers into employment and increase their purchasing power through
increased wages." It did abundantly more than that. It also ended child labor, sweat shops, and
lowered weekly wages in the mining industry. It set a "code of fair competition" in place that fixed
prices, wages and established production quotas. In March 1934, the NRA created a set of industrial
codes for all industries. In total there were more than ... Show more content on Helpwriting.net ...
It was not until the following year in July of 1935, that the next leading peace of legislation was put
into effect. After the end of the NRA, the National Labor Relations Act (NLRA) was put in place
shortly thereafter to protect the rights of employees and employers. The NLRA mediated industrial
conflict among employees, their employers and the labor organizations. However, the NLRA did not
cover Government or Union employers, municipal employees, or religious schools. The Regulations
Act encouraged negotiations between all three to determine the circumstances of employment and
gave everyone a right to organize against the companies.
Along with the NLRA was the Fair Labor Standards Act (FLSA) during President Roosevelt's
second term in 1938. The Act would have been approved sooner but it took multiple tries for the to
get passed. The FLSA further regulates hourly wages, child labor, and regulated the maximum
workweek at 44 hours. It did require or regulate individual vacations for employers. Nor did it
include sick pay, meal periods, weekend or holiday pay regulations, raises, or reasons for
termination. The FLSA included the private, state, government, federal employees as well as those
employed with the Tennessee Valley Authority. Also in 1935, one of the most controversial and
modern acts from the New Deal was signed into legislation;

President Franklin Roosevelt And The Great Depression
On October 29, 1929, the American stock market crashed after years of escalating in an event
Americans would forever call "Black Tuesday"
Became America's most severe economic crash yet
Companies quickly went bankrupt, people became unemployed, and the national money supply was
depleted.
By 1932, nearly one–fourth of America had become unemployed
National production was cut in half
Soup kitchens, bread lines, and homeless became a regular sight
Farmers were forced to leave their crops to rot, leaving more people to go hungry
Thousands of banks across America closed down
President Herbert Hoover acted on an aloof approach based on his belief that the government should
not directly interfere in economic affairs. He told the public that the Great Depression was just a
"passing incident"
Because of Hoover's approach and the millions who were unemployed, the democratic candidate
Franklin Delano Roosevelt was elected with a large majority in November 1932
Despite the widespread panic and waves of bank failures, FDR maintained a calm and controlled
demeanor, motivating many in his inaugural address with his famous quote: "The only thing we
have to fear is fear itself"
Roosevelt then attempted to end the Great Depression with a series of decisive actions named "The
New Deal"
Together with his group of scholars Roosevelt called a 'brain trust,' he created a plethora of acts to
provide for people's basic needs
The New Deal consisted of four goals: relieving economic troubles of the

Why The 1930-1940's Was The Greatest Generation
Some might say that the 1930's and 1940's was the greatest generation. The 1930's started with the
Great Depression the greatest economic disaster in modern history. This generation had to deal with
great sacrifice. The stock market crashed and people were forced out of their homes, lost businesses,
lost their jobs, and had no help from the government. People that had left the farmlands to move to
the cities for employment found themselves returning to the farm to feed their families. People that
were forced to leave their homes moved into parks and abandoned lands to set–up what was called
Hooverville's (Foner 2014). The bank's collapse was not the only reason for the great depression the
country lost over 26,000 businesses and those businesses that were left had to lay–off workers. With
all of these people out of work no one was spending, so the lost revenue just continued to reduce the
need for companies to produce products. People blamed themselves and then the government.
President Herbert Hoover's response was uncaring and not adequate to support the American people.
President Hoover's advisers said that there was no need for the federal ... Show more content on
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The government stepped in and bailed out the banks for making poor decision and providing home
loans to individuals who could not afford those loans. The government also bailed out large vehicle
business like Ford and Chrysler that would not change their business modern to keep up with
foreign vehicle companies that could produce low efficiency vehicle at a lower price. America had
outsourced most of the manufacturing jobs and we no longer had the ability to fully employ our own
workforce. Businesses could operate in foreign counties and make a profit. The hard–working
American workers were pushed aside, because the company could make more profit by operating
overseas and utilizing foreign

New Deal Dbq
At the peak of the Great Depression in 1932 over 12,060,000 citizens were unemployed and the rate
of deflation exceeded 10% (John C. Williams1). Millions of individuals were starving on the streets
and billions were lost on the stock market (History.com2). When Franklin Roosevelt released the
New Deal in 1933, a plan to provide relief, reform, and recovery to the distressed country,
Americans were in dire need of relief. President FDR acted quickly and implemented a series of
programs aimed towards providing an immediate stop to the economic free fall and providing relief
to his people (DPLA3). In his effort to reduce the severity of poverty and unemployment, FDR
released programs to aid business and labor, farmers, housing and homeowners, ... Show more
The AAA aimed to restore purchasing power of American Farmers and balance the supply of crops
by paying famers in return for a promise not to plant certain crops (US History17). Although the
AAA was declared to be unconstitutional by Congress in 1936, it was modified and remained the
basis for farming acts. In addition, AAA and similar acts made income generated by 50% higher
than it was in 1932 (Rasmussen18). The last program that provided attempted to provide immediate
relief to farmers during the Depression was the Resettlement Administration, created in 1935.
However, unlike the FCA and AAA, the RA did not provide relief to struggling farmers. Aiming to
relocate rural families to communities operated by the federal government, the RA was met with
much opposition as it threatened to appropriate land. Only 95 camps were built and only 75,000
farmers benefited from the clean water and amenities that they provided (Legends of America13).
The program was eventually taken in by the FSA, which worked to improve the lives of
sharecroppers, and completely dissolved during World War I. The programs enacted to provide relief
to farmers during the Depression, although not all successful, as a whole allowed millions of
farmers to stay on their farms and continue making money during a historic

The Great Depression Of 1929 Essay
It is almost nine decades since the outbreak of great depression of 1929 and it still haunts the
economy of America today. The Great Depression was a time of financial hardships and misery for
the Americans. America experienced a time of wreckage and terror. The Great Depression was not a
sudden collapse. Many events led up to the most traumatic economic period of modern times. World
War I, the "Roaring Twenties" and unequal distribution of wealth among the people were all origins
of the Great Depression but a specific cause to this disaster stills remains a mystery today. After
World War I ended Americans wanted a change in their country. Women wanted more rights and
were given the right to vote by 1920. Women became more independent and worked to help their
family and ease the burden of the men at house. Americans wanted to improve their country.
Americans spent their money on improving their roads, bridges and real estate. New technologies
like refrigerators, televisions, radios and cars were mass–produced to make life easier. With the
development of new technologies accessibility were endless. Radios covered news; music and other
forms of entertainment, middle class were able to afford cars due to Henry Ford's method of
assembly line. Technology improved productivity in the manufacturing area to an extent that raised
living standards for many. Not every Americans were able to afford the latest appliances, in order to
make this technological revolution more convenient

Great Depression Government Programs
The Great Depression was the longest and deepest depression in American history. It started in 1929
and ended in 1939 (Szostak). The reasoning for this would be: Stock market crash, bank failures,
reduction in purchasing across the board, American economic policy with Europe, and lastly
drought conditions. All were Jurassic conditions that led America into this horrid depression (Kelly).
The government however came up with certain acts and programs to help get us out of this
depression. The government programs that helped Americans during the Great Depression were
Roosevelt's New Deal, Federal Loan Act, and the Agricultural Marketing Act. Roosevelt's New Deal
was a major part in helping end this depression. It was a multitude of acts that were passed, such as:
Securities and Exchange Commission, Civil Conversation Crops, Works Progress Administration,
National Recovery Administration, Federal Emergency Relief Agency, Agricultural Adjustment Act,
Homeowners Loan Corporation, Tennessee Valley Authority, National Labor Relations Act, Social
Security Administration, Soil Conversation Act, Fair Labor Standard Act (Great D., New Deal).
Although there is a lot of acts that were passed, there are some that were more important than others.
One being the Civil Conservation Crops
Vass 8
(CCC) which gave those who did have a job, work. By building bridges, cleaning up campsites,
making fire trails, and to construct dams. Putting over 2 million men to work (WPA). The Federal
Emergency

Agricultural Subsidies: Their Original Purpose and Impact...
Agricultural Subsidies: Their Original Purpose and Impact Today Contents Introduction: What are
Farm Subsidies? 3 Government Intervention in Agribusiness 7 The Reality 9 Works Cited 12
Introduction: What are Farm Subsidies? The Agriculture sector has changed monumentally over the
past century in response to vast economic change and technological advancements. Farm subsidies
are various forms of payments from the federal government put in place in an effort to stabilize
prices, keep farmers in business, and ensure quality of crops. The federal government currently pays
$20 billion in cash each year to US farmers and spent an estimated $250 billion between 1995–
2005. Presently, a new farm bill is passed every five years ... Show more content on Helpwriting.net
...
Many farmers receive direct payments for crops they no longer grow. 2) Countercyclical Payments:
2 billion annually Countercyclical payments are similar to direct payments in that they both cover
the same ten commodities. The program varies its subsidies based on market price and gives more
when prices are lower. It is aimed to increase production during times of economic downturn 3)
Export Subsidies: $140 million annually The USDA controls a variety of business development aid
programs in an effort to boost sales and presence in foreign markets. These are pay–outs are used to
enhance business operations by improving marketing strategies or launching new global campaigns.
This is viewed as the government's effort to add a slight competitive advantage to exports in the
light of the high domestic prices. 4) Conservation Subsidies: 3 billion annually The Conservation
Reserve Program and Conservation Security Program are controlled by the USDA and aim to steady
production. The reserve program pays farmers to replace crops with ground cover on an acre basis.
The security program works to limit the production on the excess land freed up because of the
controls on cash crop production. These are considered to be the most controversial government
programs because they technically off–set issues caused directly by agricultural subsidies. 5)
Marketing Loans: $1–7 billion annually Marketing

President Franklin D. Roosevelt
Angela McLinton AP U.S. History Pd 1 Galvin 3/16/15 President Franklin D. Roosevelt is
commonly thought of as a liberal and President Herbert C. Hoover as a conservative. To what extent
are there characterizations valid? It is a commonly held belief that Roosevelt was liberal and
Hoover, conservative. However, as their respective presidencies progressed, it was shown through
their proactivity and reservations that they attained a versatility between the two. Both wanted to
pull the economy away from the depression. It's just that Hoover wanted less government
involvement and Roosevelt added layers upon layers of just that, at the surface level. The validity of
the above statement is only so to an extent; Hoover and Roosevelt both possess liberal and
conservative traits. President Hoover waived liberalism in his New York candidate speech, saying it
was "the road not to more liberty, but to less liberty." By limiting the people, this "false liberalism"
that went hand–in–hand with the bureaucratization of commercial business was hypocritically
hazardous to true liberalism, and Hoover felt it logical to establish this aloud. Conscious of likely
misinterpretation, Hoover wanted to government domination to detach from the people (Doc A).
Consistently throughout the Depression, Hoover expressed his intention with his "hands off policy."
The country will pull itself up by its bootstraps in due time. Hoover proclaimed that the depression
could not be pacified by executive order

Fdr's Agricultural Reform
Congress initiated the National Recovery Review Board on March 7, 1934 with the supervision of
Clarence Darrow to investigate some of the monopolistic tendencies within the codes. Darrow's
findings showed that the NRA promoted big monopoly tactics of big business. Another big issue
during FDR's time in office was the agricultural recovery. The two main problems were the
"increasing number of mortgage foreclosures on farms and the fact that farm purchasing power in
terms of industrial goods farmers had to buy, was at its lowest level ever" (290). FDR came up with
a serious of strategies on March 27, 1933 he began to focus on agencies that dealt with agricultural
credit in the Farm Credit Administration. Congress passed the Emergency Farm Mortgage ... Show
more content on Helpwriting.net ...
Another impact that the TVA also supplied power to the aluminum industry and also for the
establishment of the atomic bomb. The creation of dams raised spirits in the Great Depression.
Many people also acknowledged that the features that the New Deal as benevolent performance of
planning " a potent symbol of man's ability to control the environment and harness the forces of
nature for the improvement society" (293). The TVA was an important factor of the American
economic

FDR The First Hundred Days Essay
FDR The First Hundred Days One of the most traumatic situations this country has ever experienced
was the Great Depression. It was an extraordinary event for the people of this country because ,
unlike the previous events such as wars this country has experienced, it directly affected whole
families, including women and children. Many families were living in conditions similar to what we
see in third world countries today. These extraordinary times required an extraordinary leader.
Franklin D. Roosevelt was such a leader. While his New Deal policies were not the sole solution to
the multitude of problems that this country faced, the first hundred days of his administration set in
place the foundation that ultimately restored the ... Show more content on Helpwriting.net ...
During his campaign, however, it was hard to tell exactly what Roosevelt's New Deal policy was.
He lashed out against the Hoover administration for high tariff policies, but by the end of the
campaign, no real difference separated the candidates on the tariff issue. In his speeches he said he
would increase aid to the unemployed, but he would slash federal spending (Leuchtenburg 10). One
of the New Deal administrators reflected subsequently: "Given later developments, the campaign
speeches often read like a giant misprint, in which Roosevelt and Hoover speak each other's lines"
(qtd. in Leuchtenburg 11). However, Hoover's handling of the economic crisis and many other issues
virtually assured Roosevelt of the Presidency.
In his inaugural speech, Roosevelt said "This nation asks for action, and action now.... We must act
and act quickly" (qtd. in Schlesinger 1). This address was also where his famous quote "The only
thing we have to fear is fear itself" was uttered (qtd. in Freidel 93) The first part of the New Deal
happened in the first three months of his presidency, which became know as the hundred days.
The first objective of the new administration was to get the banks on a more firm footing. On his
very first night in office, Roosevelt directed his Secretary of the Treasury to draft an emergency
banking bill, and gave him only five days to get it ready. On March fifth he proclaimed a national
bank holiday to close the

FDR’s Alphabet Soup
After the Stock Market Crash of 1929 and the Hoover administration, something had to be done
regarding the relief and recovery of the Great Depression. This was one of the more important
objectives of Franklin Delano Roosevelt's first term as president. Although Herbert Hoover made
somewhat of an attempt trying to reconcile the country, but he was unable to live up to his rhetoric,
"prosperity is right around the corner." Hoover failed to comprehend the extent of the damage of the
stock market crash from a global perspective and simply did too much too fast. When Franklin
Roosevelt came into presidency in 1933, he set out his first hundred–day plan. Within the first term,
FDR created a series of relief and recovery acts to start the ... Show more content on Helpwriting.net
...
It was ran very militaristically and was considered one the most popular New Deal programs.
According to one employee through the CCC, Delbert Apetz, "Nobody seemed to complain down
there because you had a place to sleep, a place to eat – which is pretty skimpy a lot of times at
home." FDR knew that it would be one of the most successful programs America's recovery process.
The night of the Fireside Chat he describe to America the CCC was to start, "Enhancing the value of
our natural resources and second, we were relieving an amount of natural distress." The program
lasted until 1941; having planted over 2.5 billion trees, 40 million acres were protected from
erosion, 125,000 miles of road was built and 800 state parks were created. The New Deal program
was providing jobs and helping natural resources from another plan: the Tennessee Valley Authority
(TVA). Established by congress a little over a week after the Fireside Chat was given, the TVA was
to cover the environmental, economic and technological issues in the lower Appalachian area. The
authority was also to start the delivery of low–cost electricity to most of Tennessee, Alabama,
Georgia, Kentucky, Mississippi, western North Carolina, and southwest Virginia. FDR stated, "It
should be charged with the broadest duty of planning for the proper use, conservation and
development of the natural resources of the Tennessee River drainage basin and its adjoining
territory for the

Franklin D. Roosevelt: Bringing American Out Of The Great...
The Great Depression created many hardships for the American people, as well as the government,
to overcome. During the depression, America saw its highest unemployment rate in history. People
were losing their homes in the cities and farms in the countryside. Franklin D. Roosevelt's
experimental outlook helped bring the U.S. economy out of the Great Depression. He once said
"take a method and try it. If it fails, admit it frankly and try another" (Tindall and Shi). This mindset
was essential in bringing American out of the Great Depression. President Roosevelt compiled a
group of advisors, which were called the "brain trust", to help him create ideas to counteract the
problems of the depression. With the help of his group he proposed the "New Deal" which was "a
series of economic measures designed to alleviate the worst effects of the depression, reinvigorate
the economy, and restore the confidence of the American people in their banks and other key
institutes" (The New Deal). Within the first 100 days fifteen new laws were enacted. The first piece
of legislation, the Emergency Banking Act, passed on March 9, 1933 which "permitted sound banks
to reopen and appointed mangers for those that remained in trouble" (Tindall and Shi). Next were
the Government Economy Act, which let the executive branch of the government to cut the salaries
of government workers, cut payments to veterans, and ... Show more content on Helpwriting.net ...
To stop this he proposed what came to be known as the "Second New Deal". The Emergency Relief
Appropriation Act, which created the Works Progress Administration, "helped some 9 million clients
weather desperate times before it expired in 1943" (Tindall and Shi). The Wagner Act allowed
unions to organized and negotiate with employers. The Social Security Act passed in 1935 and is
still in use today. It gave aid to the old aged, dependent children, blind and many public health

Effects Of The Great Depression On Society
American may remember horror stories of the effect the Great Depression had on society. Although
devastating it was not the first time workers had the task to endure the financial difficulties of an
impending recession. The Panic of 1792, where two situations occurred almost simultaneously
which produced the first financial crisis. This was the first time which Americans experienced a
bank run when US securities and bank stock prices started to increase. During the Revolutionary
war I, the US Government assumed the financial obligations of two states being South Carolina and
Massachusetts, which incurred a debt of $65 million owned, due to the war. Amidst bankruptcies,
default mortgage loans and a decline in lendable money, the economy was at a staggering halt.
William Duer and Alexander Macomb used inside information from the treasury; which Duer was
previously employed, hoping that the stock value would increase. William Duer invested in the fall
of the stocks and invested Macomb money with hopes the stock market would rise. Duer either way
would make a large profit. Duer plans were intervened when the Livingston family going to use
tried to reduce the price of the New York stock with hopes to purchase securities to fund a bank that
would monopolize the stock from the Bank of New York. There was loan in place to assist American
wish to develop industrial and commercial use but little funding or support for farmer; they had the
opportunity for loans. The loans was

Analysis Of 40 Acres And A Mule
40 Acres and a Mule
For most Americans, our ancestors came to the United States to own land and it was true if you were
a white male. The right to own land in the United States has not been a reality for much of people in
the US without a long struggle to change laws regarding citizenship and land ownership. At the time
of the Revolutionary War and the writing of the constitution, land ownership was limited to
"citizens". Becoming a citizen, even if a person was born in the United States was quite muddy. The
decision of who could be a citizen or own land was left up to the individual states. Persons of
various ethnicities were legally denied citizen status for years in many states. In addition to persons
who are citizens, particularly ... Show more content on Helpwriting.net ...
The emancipation of slaves in the southern US and the after effects of the Civil War caused General
Sherman to, in January 1865, issue Special Field Order Number 15. Thousands of former slaves
were basically refugees, having no jobs, homes or property. Many slaves thought erroneously that
after they were freed they would be given the land on which they worked. This didn't happen and
they were turned out on their own. Order Number 15 was issued as a response to the refugee/slave
issue. 400,000 acres along the South Carolina, Georgia and Florida coasts was set aside to be given
to Freedmen. The area was to be populated by blacks only and by a government made up those
peoples. The allocation of land was to be not more than 40 acres of tillable land per person or
family, self–governed and self–ruled. The decision to give land to the freed slaves came about by
Sherman asking leaders of the Negro community, 20 Baptist and Methodist ministers, what did their
people want. They said land.
Over 40,000 free slaves, by June of 1865, then staked their claims on the land. The term "40 Acres
and a Mule" was not written into the order, but somehow fabricated by the land allocation amount
and Sherman giving some of the new land owners excess military mules. What happened next began
the declining relationship of African Americans and their ability to own land. With the

How Significant Was The New Deal For The American?
How significant was the New Deal for the Americans in the 1930s?
Franklin Delano Roosevelt put forward the New Deal in 1933 with aims to introduce relief, recovery
and reform the American economy, in order to combat the Great Depression. The New Deal
represent the culmination of a long range trend toward abandonment of the Republican policies of
"laissez–faire" capitalism. The New Deal was truly astonishing due to the speed with which it
accomplished what previously had taken generations which brought an air of confidence and
optimism. FDR's decision to take "direct action" to set up the Alphabet Agencies was welcomed by
the many Americans, yet his policies still received strong criticism as many reforms were hastily
drawn and weakly administration, including some contradicting others. The New Deal provided,
however, a sense of long term security and economic stability to Americans, which had not ever
existed before.
Farmer benefited greatly from New Deal programs. Between 1932 and 1935, farm income increased
by more than 50 per cent due to FDR's federal policies. In May 1993, the Agricultural Adjustment
Act was passed in order to make farming sustainable for farmers, as many could not afford to repay
loans. The farmers in America did not prosper from the economic boom in the "Roaring Twenties"
as produce was really cheap due to the surplus of food since the war, and only a few still owned land
as many were evicted. The AAA paid farmers to destroy some of their crops and

Public Education: Questions And Answers
1. The word education is absent from the U.S. constitution. Based on this fact, how is Federal
involvement in public education justified? Because the Constitution has seated the power of taxing
and spending with Congress, it is able to pass laws to fund what it chooses, including public
education. Historically the federal government has only doled out funds to state for public education
until the more recent expansion under No Child Left Behind. In order to place stipulations on states
in the way they run their schools, the Federal government may place requirements on the money
they give to states for education. He who holds the purse, makes the rules. This is how the federal
government is able to be as involved as it is in public education ... Show more content on
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Civil Rights Act 1964 – Outlawed discrimination based on race, color, religion, sex, or national
original – has been used in conjunction and because of the 14th amendment to guarantee equal
protection
g. Rehabilitation Act 1973 – to prevent discrimination against people with disabilities in federal
government agencies or by agencies that receive federal money
h. Privacy Act (Buckley Amendment) – gives parents access and rights to their child's education
records, opportunities to have the records amended, and some control over who sees the records –
only institutions who receive federal funding are have to abide by the

Why Has the Power of the Federal Government Expanded. Essay
Kenneth A. Cherisol
AMH 2020
Prof. John Fitzgerald
Nov 17, 2010
But WHY? Why has the power of the federal government expanded so significantly? Was this shift
in power from state governments to the federal government necessary? Government power took a
huge shifted from state government to federal government during and after the civil war. Although
President Franklin D Roosevelt's new deal is often considered the pivotal point that caused this shift,
the major event attributing to this shift in power was the civil war. The first event that led to a
growth in federal power was the ratification of the Constitution in 1789. Although the constitution is
to protect the right of individuals and limit the power of government it led to ... Show more content
on Helpwriting.net ...
This led to the federal government passing tariffs of farm imports and in 1922 the Capper–Volstead
act exempted agricultural cooperatives from antitrust laws. Another act, the Agricultural Credits act
of 1923, made it easier for farmer to receive loans from the Federal Farm Board which was
established by the Agricultural Marketing Act of 1929. The federal Government also needed to
regulate the power of businesses. The Federal Government began to limit the power of business by
enforcing antitrust laws created by the Shermans act of 1890. Antitrust enforcement was another
area in which Federal government increased in power.
I believe the expansion of the Federal Government was necessary in every way to ensure the future
of US. Before the civil war the states had most of the power dictating state laws and each was
concerned with better its own states not looking at the nation as a whole. This led to issues such as
the south having slaves and the north not allowing slavery. Eventually this led to the civil war. The
federal government is necessary to regulate the powers of the states. Acts such as the civil rights act
of 1964 led to equal treatment of individuals regardless of race or color. Even after the act the
federal government had to enforce the laws on the south and rebuild the south's state governments.
The federal government's power affects our daily lives from education to

Theodore Roosevelt: America's Progressive Agenda
Theodore Roosevelt was the most energetic man ever to fill the office. In my opinion, he was the
President who was more creative in laying out the progressive agenda. He was first to established
what the government had to do. In other words, he had to convince Congress, media, and the public
as a whole that the Country needed to go in his ideals of direction. A progressive politician who
believed federal government should take charge, and expanded powers of the presidency. He also
established the FDA to regulate punitive of drugs. Known as a trust buster, which meant that he was
always fighting the big companies, so there would be fair competition. He was an environmentalist,
conservationist who established National Parks, forest and monuments.

Essay on Justly Solving the Foreclosure Crisis
For millions of people in the United States, the property boom of the 2000's ended without much
warning. All over the country, tent cities are emerging as the abode of those most unprepared for the
collapse of housing prices and the resulting decrease in employment opportunities. The housing
crisis' effect on national economies threatens to plunge the global economy into a malaise unseen
since the 1930s, according to Alan Greenspan (former Federal Reserve Chairman), the International
Monetary Fund, Warren Buffet, and a host of economists around the world. In the United States,
financial and real estate sectors' unethical behavior has done much to produce the crisis, and must be
addressed for prosperity to be reestablished. In the spirit of ... Show more content on
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For example, a collateralized debt obligation is a bond that is issued on the performance of a debt
obligation, such as an automobile loan, commercial or residential mortgage, credit card loan, or
student loan. CDOs, backed by real estate, create a number of ethical quandaries: 1) they are
contingent upon the performance of the buyer to fulfill their responsibilities of the contract; 2) they
are contingent upon the value of the property; 3) market appetite for these assets can affect the
health of the company, possibly triggering a recall of the very loans the bonds are based upon; 4)
they are not subjected to rigorous regulation by the SEC or other government agency. Some of these
bonds were underwritten, or protected from default, by private banks, while government–sponsored
enterprises such as Fannie May and Freddie Mac underwrote the remainder of them.
Banks profit from the joy of rising prices when the value of CDOs rise. The operation of buying and
selling these assets yields tremendous profits for banks and encourages a continuation of the cycle.
When times are good, the property owners are ecstatic about the equity gained by rising prices.
Some even choose to take out a second mortgage, creating another opportunity for issuance of a
CDO, or similar financial instrument. However, all good things come to

Indian Reorganization Act Essay
The Indian Reorganization Act (IRA) of 1934, otherwise known as the Wheeler–Howard Act or the
Indian New Deal, was a United States federal legislation that attempted to reverse traditional U.S
policy, which typically forced Indian assimilation into american culture and regularly took Indian
reservation land. It was a radical act in its time and was introduced into congress by John Collier,
who was head of the Bureau of Indian Affairs (BIA). The IRA's main goal was to provide a means
for Native Americans to establish sovereignty and self–government, reduce the amount of land loss
by reservations, and to build economic self sufficiencies for these tribes. The act also ended the
Allotment System and provided loans for Indians to pursue higher education and farm their lands.
Whether or not the act was considered a longstanding success is heavily debated, by historians and
Native Americans leaders alike. What we do know for sure is that IRA dramatically changed life for
Native American tribes, through economic, social, political, health, and educational means. Before
the Indian Reorganization Act, the federal government dealt with issues involving Indians and land
through means of treaties. Allotting lands first ... Show more content on Helpwriting.net ...
In 1887, Indian land holdings was 138 million acres but by 1934 it plunged to 48 million acres
(ILTF). Most of this had to do with the fact that the most arable land was sold to white settlers and
business interest. The General Allotment Act allegedly wanted the Native Americans to become
farmers but many allottees were given land not suitable for crops and they were also not educated in
agriculture education, nor could they afford the farming equipment. After the 25 years were up,
many Indians decided to sell their land; most of these sellers were cut off from their livelihoods and
cultural, and had no financial means to support themselves. Selling their land was the only choice
they

What Led to the 1929 Market Crash
The stock market will always be remembered, it was just so traumatizing to Americans and history
of America, especially the bankers it was just very wretched. More into point, it led to something big
and "depressing" that left an impact. 1928 things started getting unequal the rich were getting richer
and the poor were getting less poor, with an imbalance of 0.1 percent of society earning the same
total income as 42 percent this was bad news to everyone. The ones suffering before all this was into
action were the farmers during 1920s were the farmers since they were still hung up about what
happened 1920–21 when the government had cut the prices but left costs high. But the prices didn't
stop rising, the stock market prices kept rising and rising while rapidly expanding, the expansion
kept going until finally reaching peak in 1929, productions started being declined. Black friday
originally started in 1869 when the gold speculators Jay Gould and James fist attempted to corner
the gold market but they failed and caused the gold market to collapse causing the stock market to
crash, black friday helps the markets when productions start being declined and to this day is an
American tradition after thanksgiving. Some didn't learn from this stock market crash and let
another crash occur October 19, 1987 in San Francisco though it didn't have the same aftermath of
the crash of 1929 it did begin a new era of volatility. The Americans that were affected by the crash
of 1929 called

System Thoughts Regarding The Consumer Protection Act
System Thoughts Concerning the Consumer Protection Act
One can only speculate as to why the data reflects such a dramatic decrease in the number of
consumer loans processed in 2014, but based on the responses captured by the System survey it
would appear that the increased costs to comply with the revised consumer lending regulations and
reluctance by some System institutions may be some of the major factors. However, the mass
majority of institutions indicated although there is an added cost or added regulatory burden they
will continue to process consumer loans subject to TIL in some capacity. The following responses
were grouped by the most common theme: (System Survey, [12])
1. Noted no change, and will continue processing consumer ... Show more content on
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According to survey responses, of the 78 System institutions, seven have elected discontinue
processing of consumer loans subject to TIL regulations as of July 31, 2014. The three primary
reasons institutions have decided not to offer consumer lending products include: regulatory burden,
cost to train and maintain the program, and finally the lack of demand within the institutions lending
territory that constitutes a high cost to benefit scenario in order to comply with consumer
regulations.
The institutions that stated regulatory burden as a major reason not to continue with consumer
lending was the direct result of Dodd–Frank Wall Street Reform and Consumer Protection Act that
has affected TIL requirements. They stated in order to comply, they will have to hire outside
personnel or revamp their current training program dealing with consumer lending. If costs were not
considered (will be discussed later), the lack of expertise and appropriate training for all
administrative staff and lending officers would require a significant time investment and result in
production loss in other critical lending areas (e.g. agricultural products). Thus, some institutions
believe the man–hour investment needed by institutions to comply was burdensome and not cost
effective with production losses to core borrowing activities.
The second major reason institutions have ceased or reduced consumer lending deals with the
expenses related to comply with the Act. Through the

The American Recovery and Reinvestment Act
In 2008, the American economy broke down. Known as the Global Financial Crisis, this is widely
considered to be the worst financial crisis since the 1930's when the stock market crashed and the
Great Depression hit.
On November 4, 2008, candidate Barack Obama was elected for the first term of his presidency. The
following February, The American Recovery and Reinvestment Act of 2009–or the ARRA–was
signed into effect by congress, and made into law by President Obama on February 17, 2009. This
stimulus package was originally proposed to be 816 billion dollars, but was eventually raised to be
840 billion dollars in 2012. The purpose of this bill was to inspire confidence in the American
people that the economy would be up and running again. The ARRA was intended to give money
back to small businesses as well as the American families who ran and worked at these businesses.
This varies from TARP, or the Troubled Asset Recovery Program, which was a bill that was aimed at
bailing out banks in October 2008. TARP worked to allow banks in danger to participate in reverse
auction, in order to sell their assets.
In order to restore hope and eventually safeguard 900,000–2.3 million jobs, the ARRA was intended
to be spent over the course of a decade. It was very strategically planned, however, not to be spent
evenly during that time. Instead, the following arrangements were made: 185 billion dollars in the
fiscal year 2009; 400 billion dollars in the fiscal year 2010; and 135 billion

President Woodrow Wilson And The Federal Trade Commission...
President Woodrow Wilson was a successful progressive president because of his actions on
demanding a stronger antitrust legislation, banking reform, and reduced tariffs. First, President
Wilson created the Clayton Antitrust Act of 1914 and the Federal Trade Commission Act of 1914.
The Clayton Antitrust Act prohibited corporations from acquiring the stock of another company.
Also, the act allowed labor unions and farm organizations. The Federal Trade Commission is an
organization that was given the power to investigate violations of regulatory statutes, require
periodic reports from corporations, and put an end to a number of unfair business practices. These
two antitrust measures was important because it prevented monopoly corporations and

New Deal Dbq
I think that the New Deal was a huge success. In the 1930s it was an unsure time. People were
losing their jobs. The banks we losing money and the people as well. When FDR was elected
President the first things that he did was set up the New Deal. The New Deal did a lot of things for
the country. Some of it was just a temporary fix, but some the acts that was put it back then are still
used today. The New Deal helped to create jobs, money and put restrictions on the banks. The New
Deal help created jobs and money to a lot of people in the 1930s. The New Deal created jobs by
"creating the Works Progress Administration (WPA) to provide jobs for unemployed people"
(history.com/topics/new–deal). This administration gave jobs to millions

President Fdr 's New Deal
At the peak of the Great Depression in 1932 the unemployment rate stood at 25 percent and the Dow
Jones Average sunk to a mere 34, indicating severe economic distress.1 Millions of individuals were
starving on the streets and billions of dollars were lost in the stock market. When Franklin Roosevelt
released the New Deal in 1933, a plan to provide relief, reform, and recovery to the distressed
country, Americans were in dire need of relief. Recognizing that something had to be done quickly,
President FDR implemented a series of programs to immediately mitigate the effects of the
Depression. By focusing on programs to aid business and labor, farmers, housing and homeowners,
banks and the stock market, and the youth of America, FDR attempted to provide the immediate
relief from the Great Depression that America so desperately needed. Although some of the
programs in the New Deal were more successful than others, they succeeded as a whole in providing
the short–term relief that America needed to survive the Great Depression. The first major relief
program for businesses and labor was the Federal Emergency Relief Act. Released in 1933, the
FERA created the Federal Emergency Relief Administration, an agency that not only distributed
federal aid to states for relief, but also provided state–directed work to boost the morale of the
recipients.2 As Harry Hopkins, advisor to FDR on work relief programs stated about FERA, "Give
him a job and pay him an assured wage, and you save

The Impact of the New Deal on the United States Essay
The Impact of the New Deal on the United States The Great Depression, an era of great poverty,
misery, and hopelessness, proved to be one of the most dreadful time periods in all of America's
history. During the Great Depression, dreams were lost and having a moderate amount of food
everyday became a difficult challenge for many. Nonetheless, through the dark clouds, appeared the
next president of the United States: Franklin Delano Roosevelt. By offering hope in his inaugural
address, Roosevelt boosted morale and despair ... Show more content on Helpwriting.net ...
In later days, Congress created the Federal Deposit Insurance Corporation in June1933. This reform
insured each bank deposited up to $2,500 a day and consequently, banks gained more trust from
their investors. As money once again started to flow, it helped stabilize the financial situation of the
country. After achieving this goal without difficulty, Roosevelt issued an executive order to create
the Farm Credit Administration. The purpose of this was to provide low interest, long–term loans to
farmers. Farmers then paid off mortgages and overdue taxes, bought back–lost farms, and purchased
the needed seed, fertilizer, and equipment. The outcome of this program was quite obvious; farming
would once again flourish and thus, more food available for the American people. In April,
Roosevelt asked Congress to create a similar program expect for non–farming personal. Congress
without hesitation passed the Home Owners Loan Corporation. It addressed the problem to those
who could not pay off their mortgage. By 1936 it saved at least a million American families by
granting them low interest, long–term mortgage loans.
Other programs established because of the New Deal, were aimed for many unemployed Americans.
Roosevelt in May of 1933 encouraged Congress to establish the Federal Emergency Relief
Administration, with half a billion dollars for relief aid to be given directly to

Herbert C. Hoover's New Day Presidency
"Herbert C. Hoover's New Day Presidency; Progressive Management for the Un–Foretold Future"
Herbert C. Hoover's "New Day" presidency began with a landslide win the 1928 presidential
election when he became the 31st president of the United States; known best for his administration's
failures and the "Great Depression" of 1930. Americans did not realize at the time of his presidency
that Hoover would set policies and practices that would one day benefit Americans in mortgage and
finance, corporate and bank bailouts, and the "Great Recession of 2010". Herbert C. Hoover
(Hoover), attended Stanford and while he was a senior there he met his future lifelong research
assistant, friend, mother of his children, and loving wife that ... Show more content on
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Hoover claimed that voluntary cooperation was "self–government by the people outside of the
Government." (Myers–Lipton ,

President Hoover Failure
The Great Depression was an abrupt decline in the supply and demand of goods and services along
with a meteoric rise in unemployment. President Herbert Hoover thought there should not be too
much government intervention and the crisis would balance itself out after a while, but that was not
the case. His attempts to aid the Great Depression were not as successful as hoped and did not gain
him much popularity while he ran again for a second term as president. In 1932, Franklin Roosevelt
won the presidential election by a landslide against President Hoover. President Roosevelt created
policies and programs that later collectively became known as the New Deal.
It started in the 1920s when the United States stock market went through rapid expansion ... Show
more content on Helpwriting.net ...
It oversaw the construction of large–scale public works like San Francisco's Golden Gate Bridge and
New York City's Triborough Bridge. They hoped it would stimulate the economy by creating jobs
and by generating orders for materials that American industry produced. The PWA accomplished the
task at hand, but they did not spend all the money available to them and therefore, it was not as
productive as it could have been. Social Security Act (SSA) provided pensions, unemployment
insurance, and aid to the disabled. It financed its programs through deductions from workers'
paychecks, but in reality, slowed economic growth by restraining consumer purchasing power. The
programs and benefits of the Social Security Act were not distributed evenly among all Americans
and since many of these Social Security programs were run by state governments, the size of
benefits varied widely. Overall, the WPA failed to lift the country out of its economic

Loan Amount For Consumer Purpose Loans
For 2014, this particular institutions average loan amount for consumer purpose loans was $230,000.
The interest rate was 4.80 percent, average cost of funds spread was 2.32 percent, average cost of
funds spread of 2.32 percent, and fee average was approximately $1,000. In comparison, the non–
consumer purpose loan average was $241,000. The interest rate was 4.73 percent, average cost of
funds spread of 2.90 percent, and fee average was approximately $1,000. So as you can see, the
spread on the agriculture portfolio was higher than home loans. In this particular case, they
originated over 700 agriculture loans compared to 30 home loans in 2014. While the fees by dollar
average out the same, it costs them considerably more to process ... Show more content on
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That being said, survey results indicate that a significant number of institutions have complied but
also expanded their consumer lending staff and hope to gain a larger market share. Here are a
comments gathered through the survey. (System Survey [12])
1. "The association has developed a new rural home program including staff expert to focus on these
loans only." "The association has recently designated a Compliance Officer and if anything he
anticipates expansion in the volume of consumer loans in the future."
2. "We have spent a significant amount of time in training loan officers on compliance, and they
have hired a compliance employee at the association at this point."
3. "We plan on increasing emphasis on consumer lending. Currently process all consumer loans
through its in–house consumer loan processing department and will continue to do so going
forward. In addition, recently hired an additional consumer lending expert in anticipation of
increasing consumer lending portfolio."
4. "The compliance officer reviews all consumer loans so this cost would be at least $5k depending
on the number of loans originated."
5. "We have spent in excess of $500,000 in employee training in 2014 to ensure they can comply
with new/revised consumer regulations issued by the CFPB. We also have a full time compliance
officer to monitors any new/revised regulations and are planning on adding a compliance specialist
to their ICR staff."
6. "We are

Woodrow Wilson's Economic Reform
Woodrow Wilson is a reformer. He focused on the reform of the social, political and economic
aspect of the United States. He is also the only democratic president between 1897 to 1933. He was
known to be progressive. During his first term, the Federal Reserve Act, Clayton Antitrust Act and
Federal Farm Loan Act was passed. The Federal Reserve Act created the Federal Reserve System.
The system can issue the US dollar. Clayton Antitrust Act is an antitrust law. It protected the
customers from the monopoly of the business. It tried to stop the price discrimination and thus stop
the monopoly of the business. It took control of the mergers and acquisitions. Federal Farm Loan
Act increased the credit for the farmers. Farmers were able to borrow money more easily with a
bigger amount. The rate of interest is lower so the farmers could repay the loan easier. It helped the
normal citizen to fight against the big companies. Woodrow Wilson also established the Federal
Trade Commision. The power of the companies was limited by the reformers and the government.
Theodore Roosevelt sided with the workers and fought against the ... Show more content on
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Wilson tried to put down the national tariff. It was at about 40% before he took action. After the
Underwood Tariff Act was passed in 1913, the tariff returned back to 25% and some tax like tax on
sugar was eliminated. The business reform was accomplished by the Federal Trade Commision and
the Clayton Antitrust Act while the banking reform was accomplished by the Federal Farm Loan Act
and Federal Reserve Act. Woodrow Wilson accomplished all his goal listed in the New Freedom. He
passed the child labour act to protect the normal citizen. He fought for the limited working hours
and his was a ture president that is for the people. However, he also support the racial segregation in
the federal government and many black was fired at that

Essay about American History
How did American society change in the two decades after the First World War?
World War I was a catalyst of the great depression. U.S. attempted to rebuild for approximately four
years after World War I. Due to the casualties of the war, the workforce was lacking. The repayment
of wartime debts became tough for the people. They're significant huge increase unemployment.
Thus, parents were having significant problems feeding and clothing their families. Because of the
lack of money there, were significant effects on consumer goods.
In 1929 the Wall Street Crashed and fortunes were lost and the stock market was crippled.
Businesses were virtually wiped out, in as little amount of time as a week. .
How did the federal government ... Show more content on Helpwriting.net ...
In my opinion, the people and government all benefited from the new acts and departments set up
oversee the following areas:
1. The banking system which was strengthened and benefits both the banking system and the people
2. The Social Security Act was set up to help out the elderly.
3. The House Sector, the New Deal stimulated private home building industry and this increased the
number of families buying houses.
4. Unions were set up to help the poor working class people. The unions made working conditions
more fair for the average person.
These are just a few of the Acts that help out the people.
In my opinion, the people who suffered because of these changes were women and Native
Americans. It was felt that the New Deal Acts were set up to benefit men.
Most people saw the Indian Reorganization as a failure because some of the tribal self–government.
Many reservations, its provisions have exacerbated differences between traditional and those who
have adopted a European–American ways. Native

Agriculture And The Agricultural Sector
The world of agriculture relies on businesses, banks and people in order to keep farmers in business.
Farmers can receive loan money for anything including cars, restaurants, and homes, as long as they
are strong enough financially to handle it in the long run. There are loan officers who lend money to
farmers in order to help the farmers buy the things that they will need for that season and things they
want for their personal life. Agricultural loans can be put toward anything from the seeds of the
plant that the farmers will grow, to the harvesters they will use to collect the crop yield at the end of
the season. Agriculture and business are two separate careers, but putting them together is necessary
for both and allows farmers to ... Show more content on Helpwriting.net ...
President Wilson recommended a system of agricultural banks to provide credit to meet the needs of
farmers. Congress responded with the Federal Farm Loan Act of 1916. During the Great Depression,
farmers were unable to pay the expenses they were faced with and many of them left their farms in
defeat. Congress stepped in by passing the Emergency Farm Mortgage Act of 1933 and the Farm
Credit Act of 1933. The Farm Credit Act completely established the Farm Credit System. The FCS
was under the administration of the Farm Credit Administration. All Government capital to the FCS
was repaid by 1968, making FCS institutions wholly owned by their farmer–borrowers. FCA
determined that its authorities and those of the FCS needed to be expanded to meet the changing
credit needs of farmers and rural communities ("History of FCA and FCS", 1). Institutions of the
FCS grew rapidly in the 1970s and early 1980s and the amount of loans out equalled $80 billion.
Farmers during this boom began to borrow heavily to expand their operations in order to meet the
demand for United States agricultural exports. Inflation raised prices on farm products and raised
the value of farmland. The boom ended in 1979 due to the Federal Reserve Board trying to limit the
amount of money out in order to stop inflation. Demand for the crops quickly decreased,

Objectives Of The New Deal
The New Deal In 1929 the United States and the rest of the world were beginning to deal with the
Great Depression. During these hard times, many people believed that the federal government
should have a larger role in the economy. These beliefs led to the election of Franklin D. Roosevelt.
In President Roosevelts inaugural speech, (1933) he first used the great phrase, "...the only thing we
have to fear is fear itself..." He needed to strengthen our nation and boost the confidence of the
citizens. It is because of these realities that Franklin D. Roosevelt and his advisors created The New
Deal.
Key Objectives of The New Deal The New Deal was made up of three main objectives. These
objectives were relief, recovery, and reform. As a country, we needed relief and recovery from the
great depression. Unemployment was through the roof, farmers were struggling to succeed, and our
economy was in shambles. Agencies and programs were created to help alleviate these problems and
create jobs. Agencies were also created to reform industry and banking practices that had a large
hand on our path to The Great Depression.
Civilian Conservation Corps (CCC) A great example of one of the relief programs would be the
Civilian Conservation Corps. The idea was to take young men and provide them jobs in forests,
infrastructure, and other public projects. This not only provided work for the young men and their
families, but also helped us rejuvenate our natural landscape. The Civilian

Fannie Mae: Securitization History In The United States
Securitization history can be traced back to 18th century, but the first examples of mortgage–backed
securities can be found in 19th century in United States, that are the farm railroad mortgage bonds of
the 1860s. After the Great Depression, the government took several initiatives to increase the supply
of funds for mortgages loans. Their aim was to support the primary market first, and then the
secondary market. In 1934, the Housing Act was enacted and FHA (the Federal Housing
Administration) is created by the U.S. federal government. The FHA developed the fixed–rate
mortgage, which is an alternative of balloon payment mortgage. In 1938, the federal government
also created Fannie Mae, a government–sponsored corporation, in order to create a liquid secondary
market of mortgages.

Summary : ' Great Depression '
Phillip Durgin
March 10th, 2016
G Block History
Great Depression DBQ As "prosperity 's decade" came to a symbolically harsh and sudden end on
Thursday, October 24, 1929, the United States government, led by President Herbert Hoover, was
thrown into the unknown. No such downturn had ever presented itself before, which compounded
itself with the lack of economic understanding present at the time. Yet it had seemed that the
economy was healthy before the crash. Employment was high and inflation was low. Yet these
conditions only served as a mirage for many Americans. As industrialists became wealthy using new
age technology and selfish business methods, 70 million people lived below the poverty line. Many
of these men and women lived in ... Show more content on Helpwriting.net ...
Unemployment would skyrocket, coinciding with a massive decrease in industrial production. The
country was in shambles, unable to find a way out of its economic woes. The newly elected Franklin
D. Roosevelt saw his contemporary Hoover fail to stop the recession with his conservative policies.
Believing in "voluntary organization and community service," Hoover feared that federal relief
programs would create a culture of dependency. What he did not recognize was that the vast size of
the nation 's problems had made the idea of "rugged individualism" inadequate. Roosevelt did not
want to repeat the mistakes of the former president, instead believing that he alone must expand
executive power while carrying out a policy of experimentation. He would directly lend a hand to
the forgotten man, implementing bold and controversial acts in order to spur the economy.
Roosevelt, although not quelling the Depression completely, effectively expanded the role of
government in order to address his nation's struggles and provide relief, recovery, and reform for the
millions affected by the downturn.
One such example of his efforts to relieve the burdens of the Depressions in rural America was the
creation of the Tennessee Valley Authority. Even before this program, The New Deal attacked
problems facing those affected by failing industry head on. Rural electrification programs were
created, changing life in the country forever, as for the

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