AMH 2020 Notes Exam 3 Dollar diplomacy o Effort of the United States Taft to further its aims in Latin America and East Asia through use of its economic power by guaranteeing loans made to foreign countries o We give countries the loans and compel repayment by military intervention in those countries Going to make loans to countries that are developing nations Hope is that loans would stimulate growth in these developing nations and would increase demand for US goods in these countries State department authorizes these countries to have American forces in these countries Nicaragua Occupy the Dominican Republic Haiti Bolivia El Salvador guarantees that the US is going to get their money back essentially these countries aren t independent anymore they are American possessions o Many people unhappy with this idea o African American leaders in US protest because they feel like the black Haitians are being mistreated o In the 20 s dollar diplomacy is reconsidered and starts to fade away o was a great idea but didn t work out in practice NWLB National War Labor Board o Established 8 hour work day for workers with time and a half for overtime pay o Endorsed equal pay for women o Made a promise to the government that said they wouldn t strike if the government would give them the right to unionize legally in return o By doing this AFL grew in membership by a third and by the end of the war there were over 3 million people in AFL o 1 in every 5 workers were a union member o Massive strike that disrupts the steel industry 350 000 people strike industry doesn t negotiate labor strikes o Supreme Court against them Supports child labor and reverses decisions that were pro labor o Causes membership in labor unions to drop dramatically o By 1929 only about 10 percent of workers were union members o Idea that all laborers are socialists communists frightens progressive Americans begin to feel that there are dangerous radicals all previously 1 in 5 workers around them Calvin Coolidge o Was governor of Massachusetts and nominated for presidency in 1920 o Ran for president in 1924 REPUBLICAN o Platform goes for isolation and foreign policy limited government tax cuts for business basis for modern day Republican ideas Limited government Tax cuts for business AKA the wealthy Want to get away from foreign policy Isolation was a response to the great war o The end of the progressive era Republicans don t support progressivism Sacco and Vanzetti o Americans have hostility towards reds communists the red scare o 3 strikes against them Italian anarchists and evaded the draft in WWI increases nativism o Convicted of murder sentenced to death o Historians still debate today whether they did it or not Nativism o Fear of communism radicalism and immigrants o Fear lead to a rise in nativism which was political racism towards immigrants anyone not native born in the US o Nativism reaches presidency leads to acts against immigration EX Japanese immigration Chinese exclusion act etc o A comic actor in silent films used physical danger as a source of comedy Harold Lloyd EX Never Weaken Never Weaken o The movie we watched in class starring Harold Lloyd Political responses to the Depression o Reconstruction finance corporations created by Hoover Provided loans to railroads banks roads and utilities Slashed the amount of income taxes they charged Hoover begged state and local governments to employ the unemployed o Hoover s response 1 economic outcomes product of individual character if you don t work hard you don t deserve to have a job 2 voluntarism business community could regulate itself people that do have jobs need to work harder and we need to tighten our belts collectively as a country Hoover cut federal taxes Most innovative thing created Reconstruction finance corporation RFC see above OVERALL his response isn t active enough to do any damage Hoover has a reputation as a do nothing president even though he did stuff however at this point in American history this is an unprecedented crisis and the way he handles the situation isn t above and beyond enough Franklin D Roosevelt o served as secretary of the navy like TR had done during span am war wanted to be like TR o suffered from polio in 1941 and was paralyzed from waist down o Eleanor Roosevelt help him out greatly he returns to political life o wins easily in 1932 32nd president o Relief Recovery and Reform o popular and effective with americans people responded to him really well o had fireside chats every sunday on the radio and talked about all of the problems in America and how they were going to fix it o despite growing up in a very wealthy family a lot of people poor felt that he had personally saved them and helped them he inspired people o his charisma allowed him to broaden president s power for the future Hundred Days o within the first hundred days of his presidency they are going to tackle 5 major problems Banking failures The money in banks disappear FDR calls March 5th a national bank holiday Congress creates an emergency banking act FDR follows up on fireside chat promising to people that their money is safe Banks reopen March 13th Before FDR over 4 000 banks collapsed after this only 61 banks collapse FDIC created insured people s money up to 2500 so if a bank collapses and you have 2400 in a bank you will get all that money back Today FDIC insures money unto 250 000 Stops banks from making risky loans as well FDR removes nation from the gold standard Agricultural overproduction The government regulates the farm economy by offering cash subsidies to farmers who cut com oddities wheat corn cotton hogs rice tobacco and dairy products problem the benefits from this are not evenly distributed across society EX a plantation owner in Mississippi earned 26 000 but other people african Americans in the same situation aren t receiving the same benefits o THE NEW DEAL DIDN T HELP AFRICAN AMERICANS OUT can t get rid of the larger corporations The business slump Unemployment The housing crisis o national recovery administration NRA o helps the large corporations agrees on what prices should be but the businesses an still do whatever they want o businesses set these prices for what they re going to sell things for but they cut the prices what we have with the NRA AAA these rescue industries that are trying to stabilize the economy DIDN T solve the great depression THE NEW DEAL DIDN T SOLVE THE PROBLEMS OF THE GREAT DEPRESSION o A federally owned
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