Question | Answer |
Republican View on Economy | *Laissez Faire type with focus on helping big business
*Each person is responsible for himself with gov't guidelines (self gov't)
*Fears too much gov't interference in industry
*Rugged individualism
*Helping Neighbor |
Republican Plans for Recovery | Hawley Smoot Tariff (1930) and Reconstruction Finance Corporation (1932) |
Hawley Smoot Tariff (1930) | Enacts a 60% tax on tariffs imports |
Reconstruction Finance Corporation (1932) | A gov't measure to support big business banks and insurance companies with federal assistance... Benefits will trickle down to the average citizen |
America's Reaction to Republicans | Bonus March and Election of '32 with 30% votes for Herbert Hoover |
Bonus March | Thousands of WWI Veterans march on Washington for their promised WWI bonus check. 2 people killed in removing the vets. |
Democrat View on Economy | *Spread the wealth out more, doesn't see playing field of Americans as equal
*Wants to get gov't involved in industry/economy
*Wants to give money to the poor from the rich |
Democrat Plans for Recovery | New Deal, Hundred Days Congress, Bank Holiday, Repeal Prohibition, and Fireside Chats |
New Deal (Three R's) | Relief for the unemployed, Recovery of the economy, and Reform of big business practices and economic institutions |
Hundred Days Congress | The Democratic congress that enacts more legislation in 100 days than any other congress before. |
Bank Holiday | To stabilize the banking industry, banks are closed and reopen with new insurance from the gov't |
Repeal Prohibition | 18th Amendment is replaced with the 21st Amendment for economic purposes |
Fireside Chats | Radio speeches to public to instill confidence in the New Deal and economy |
America's Reaction to Democratic Party | Roosevelt's Popularity with victories in '32, '36, '40, '44. New groups of American's who will vote democrat (working class, women, A-A, Jews) |