Comparison
of Events
The problems in the left column are revealed in the Hoover
administration, but they were caused by economic events and decisions before
his administration and beyond his administration.
* + (date) = Alteration in
this law Blue = occurring in the 1st 100 days of
Franklin Delano Roosevelt’s New Deal
Problems
Revealed in Hoover’s Administration |
Solutions
Attempted in FDR’s New Deal |
Protecting freedom of information |
|
Bankers – embezzling funds and speculating in stock market |
|
Gold Standard |
|
Stock Market -
Insider trading -
Margin buying -
Fraud -
Sales to the public
of stock but no required disclosure [1] |
|
Business Not Producing –
Businesses are hurting –
Workers are hurting (Scroll down for growing
pressures from 1934, especially with the shift to union organization by industries.) –
Market saturated |
|
Mortgage –
home –
farm |
|
People on the edge –
young –
old (Scroll down for growing pressures by 1934) –
blacks –
Okies |
|
Farmers –
market saturation –
farmers are hurting –
farm labor is hurting (25% of work force) |
|
1. Pressures from John
L. Lewis’s development of the CIO (Congress of Industrial Unions) and a split
from the old American Federation of Labor, pressures in 1937 from industries (see
Ford, Republic Steel) and the CIO’s sit-down strike
2. From 1934 to
the act creating Social Security (pension for old, aid for widows and orphans, unemployment
insurance), pressures from left and right – Father Coughlin (Radio Priest), Dr.
Frances Townsend, and Huey Long (Louisiana governor and later senator -
nicknamed the “King Fish”)
3.
Pressures from the Supreme Court: The Court had declared NRA and parts of AAA
unconstitutional. FDR planned an increase in Supreme Court justices (disliked
by Americans). The Court, however, backed off. Both the Wagner Act and Social
Security were not declared
unconstitutional.
Copyright C. J. Bibus, Ed.D.
2003-2013 |
WCJC Department: |
History – Dr. Bibus |
Contact
Information: |
281.239.1577 or bibusc@wcjc.edu |
Last Updated: |
2013 |
WCJC Home: |
[1] Public offering (stock sold to the
public) regulated only by the private
stock market that did not require accuracy and disclosure of information.