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Smoot-Hawley Reconstruction Finance Corporation

2146 Words9 Pages

Smoot-Hawley, Reconstruction Finance Corporation, Revenue Act Of 1932

The significance of this triad is that all of these things were failed attempts under Hoover between 1929 and 1932 to pull America out of the Great Depression. Smoot-Hawley Tariff was created by Reed Owen Smoot and Willis C. Hawley in June 1930. It raised tariffs on over 20,000 imported goods and added a flat fee. It made American products affordable to stimulate the economy and pull us out of the Great Depression.The Reconstruction Finance Corporation was an agency set up by congress in 1932 to facilitate the economy by giving emergency loans to banks, railroads and industries. The Revenue Act of 1932 was the largest peacetime tax increase in history. The timing for this …show more content…

The Red Scare was the promotion of fear of immigrants and was one of the largest violations of civil liberties in American history. Federal employees were forced to endure loyalty screenings in order to determine their loyalty to the United States. People across the nation feared foreign terrorists and vigilantes took matters into their own hands by delivering justice, usually in the form of murder, to anyone they deemed unpatriotic. The KKK, Ku Klux Klan, made matters worse by doing whatever they could to instill fear into immigrants while encouraging society to fear immigrants. The KKK which started in 1866, was revived during the 1920’s. They hated anyone or anything that they felt was not 100% American. They used violence and intimidation to impose their beliefs on others. The 1924 Quota Act restricted the amount of immigration in the United States. It limited immigration to 2% of the number of people from that country who were already living in the United States during the 1890 census and out right banned immigration from Africa and …show more content…

In 1934 Senator Huey Long from Louisiana criticized President Roosevelt for not “doing enough for the common people” and he came up with a plan called the Share-the-Wealth Society. He wanted to raise the taxes of the wealthy and give it to the poor, kind of like Robin Hood. The plan would have provided pensions to retirees, reduced work hours, paid bonuses to military veterans and ensured every qualified student could attend college. The problem was that he didn’t seem to understand that it would have cost a lot more money than it would have raised. Father Charles E. Coughlin was another of President Roosevelt’s critic. He claimed that Roosevelt was “anti-God” and that the New Deal was a communist conspiracy. Father Coughlin believed that Jew should be hunted down and he praised Hitler and the Nazis for killing them. Roosevelt decided to annoy his critics by implementing an array of new programs, one of which was the Social Security Act of 1935. The Social Security Act was largely designed by the first female cabinet member in history, Frances Perkins. It was designed not to provide everyone with a nice retirement but instead to help protect the elderly through tax-funded pensions. It also provided benefits for victims of industrial accidents and gave aid to dependent mothers and children and the physically

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1483 Words | 6 Pages

It raised the United States tariffs to unreasonably high levels. Although the tariff made life hard, it did not cause the Great Depression. The Hawley-Smoot Tariff became a symbol of the “beggar-thy-neighbor" policies, which were policies designed to improve a person’s own lot at the expense of others. These policies contributed to the decline of international trade. The original intent of the Act was to preserve mainly the agricultural jobs in America and protect the people from foreign agricultural imports.

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799 Words | 4 Pages

History- The Smoot-Hawley Tariff act of 1930, was a protectionist act in order to protect American industry, and American farmers. This act was originally introduced by Senator Reed Smoot of Utah. And Representative Willis Hawley of Oregon. This act was to raise the already high tariffs in the United States.

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1041 Words | 5 Pages

On the 23rd of April, 1939, Huey Long delivered his national radio speech, “Every Man A King”, in which he addressed the lack of distribution of wealth prevalent within America during the Great Depression. He outlines in his speech his proposed the Share Our Wealth program in an effort to more equally distribute the vast amount of wealth in our country and to help mitigate the obvious distinct differences of one's economic prosperity. Through the rhetoric technique of hyperbole and allusion along with the logical fallacies of argumentum ad numerum and playing on emotions, Long is able to continuously untruthfully spread his ideas on the reason and necessity of redistributing the wealth in America. The use of hyperbole throughout Long’s speech allows him to further emphasize his points and to prove to listeners how great of a problem unequal wealth is within the United States.

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713 Words | 3 Pages

During his first term in office, he took on programs and policies to relieve the effects of the depression, collectively known as the New Deal. During this time, many social policies were passed to specifically aid the working class. Some of the acts Roosevelt implemented were the Glass-Steagall Act, the Federal Deposit Insurance, the Securities and Exchange Commission, the Home Owners Loan Corporation, the Works Progress Administration, the National Labor Relation Board, and Social Security. All of these acts were put in place to aid the working class, and prevent the severity of future depressions. The outcome of the New Deal gave a new role for the federal government, which is the partial responsibility for the people’s financial

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2092 Words | 9 Pages

In January 1934 Huey would create a Share Our Wealth Society which would promote the redistribution of wealth among American citizens. This new idea would pick up high popularity among citizens but would catch disagreement from Roosevelt once again. Huey and his ideas would then meet hardship due to the reelection of Roosevelt (Starr, Page 508). Prior to Huey’s Share the Wealth Program, Roosevelt declared a national bank holiday in response to continuing runs on banks on March 6, 1933. Congress would grant Roosevelt sweeping powers to regulate banking.

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670 Words | 3 Pages

The Reconstruction Era of American history was plagued by many problems. One of the most important problems being the recently released from slavery Freedmen. Freedmen were in a tricky situation in which they had just been released from their owner and had nowhere to go, but the Federal Government made many successful attempts to help them out. The Government helped alleviate all the problems Freedmen had from their finances to basic needs and rights, and in doing so, made the period of reconstruction more helpful than harmful for Freedmen. The events of reconstruction were helpful to freedmen as they were not only freed from slavery, they were given rights directly from the federal government.

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270 Words | 2 Pages

Roosevelt’s idea was almost the exact opposite he believed that it should be the government's responsibility to get the people out of this crisis. Today we are still reaping the benefits of Roosevelt's new deal such as social security act, National Youth Administration and many more that helped us get out of the deepest depression this country has ever

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715 Words | 3 Pages

Founded during the Reconstruction Era (1865-1877), The Ku Klux Klan was an extremist hate group that violently challenged social and political laws which protected certain minority groups. The Klan’s deliberate use of terror and violence reflected the passion held for a racial hierarchy, with whites at the top of the social structure. The presence of KKK was seen not only during the Reconstruction Era, but also during the post–World War I era (1920s). There are distinct similarities and differences that define the motives of the 1860s Klan and the reincarnated 1920s Klan; however, I believe these characteristics hide the true representation of the intolerance of American citizens.

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290 Words | 2 Pages

The Red Scare started right after the civil war was over. There had been many riots to accrue during the time of the red scare. In the term the red scare had been a form of lose to many successful people. It took at huge toll on the government as they tried to stop and contain the many job losses, but as the time went by people start to riot in the streets because the of the cuts from their jobs had really affected them. People were losing their lives and the government did all they could to try and stop it.

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739 Words | 3 Pages

Other presidents were also able to establish antitrust reforms. President Woodrow Wilson established the Federal Trade Commission Act, aimed to prevent monopoly, and the Clayton Antitrust Bill. As Document E illustrates, the Clayton Antitrust Bill claims it unlawful to "lessen competition” or “tend to create a monopoly in any line of commerce". Although Presidents Roosevelt and Wilson established reforms to stop monopoly, they still had many holes in their trust-busting campaign which severely limited the full effects of

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714 Words | 3 Pages

Americans had rarely accepted outsiders as equals, and that was the case with immigrants coming to the U.S in the 1840s to the 1920s. A time in America where immigrants were not considered inferior to native white Americans did not exist. The hatred of anything non-American, especially with the coming of World War I in 1914, would only cause more Americans to despise immigrants. Part of this was rooted simply in racism, which existed towards groups other than African Americans, but much of it was simply that Americans considered themselves the chosen people while everyone else was below them. Thus, despite immigrants being accepted into America, those immigrants were still treated far worse than white citizens between the 1840s and 1920s, for the prejudice against them was obvious even in the laws created.

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585 Words | 3 Pages

The Great Depression of October 29, 1929 mainly resulted from the hasty speculation of the investors, investing a grand total of 12,894,650 shares; surplus of stock led to its devaluation in terms of monetary value, coining the infamous “Black Thursday” on October 24. Five fateful days later, the debtedness of the investors, the industries’ sudden decision to decrease overproduction of their goods, resulting in high unemployment led to the beginning of the Great Depression. President Hoover, trying to ease the symptoms of the Great Depression, actually instituted a trade war with Europe when he signed the Smoot-Hawley Tariff Act, which increased taxes on imported stock. In 1932 President Hoover lost the election to President Roosevelt who competed under the slogan, “Happy Days Are Here Again.”

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780 Words | 4 Pages

Those government programs were brought along with a sharp increase from deficit spending from his predecessor, President Hoover; the deficit spending increased 1 billion dollars following Roosevelt’s election and continued to increase throughout his presidency (Document 5). The display of his spending and increased government involvement is consistent with his traditionally viewed liberal philosophies, but his policies and actions deviated from those liberal principles. During his campaign, Roosevelt took careful time and measures to outline what the very being of liberal thinking was and how he planned to frame his policies around that (Document 1). His promises were inconsistent on the campaign trail such as reducing government operation cost which would ultimately result in reducing government involvement and provision for equal opportunity (Document 4). His wife, Eleanor Roosevelt, was far more heavily enthralled with ensuring that equal rights, especially for African-Americans, were provided at all cost, but her husband was not as heavily concerned with ensuring that his New Deal program would equal benefit

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643 Words | 3 Pages

Under the Farmers' Relief Act of 1933, the government paid compensation to farmers who reduced their production, resulting in a price rise. As a result, the average income of farmers nearly doubled by the late 1930’s. Overall, without the New Deal in act, farmers would’ve been forced into poverty way longer than it did. Another reason the New Deal was mildly effective was because it reduced unemployment.

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1327 Words | 6 Pages

The major racial discrimination in the 20th century happened with the formation of the separatist movement called the Ku Klux Klan. The movement was received positively across the nation especially among the whites in the southern states. The movement was being regarded as a racist movement because they were against the idea of racial equality in social and economics. According to Jonathan M. Bryant (2002), pointed out that the Ku Klux Klan

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