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The Reconstruction Finance Corporation (RFC)
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Was established during the Hoover administration with the
primary objective of providing liquidity to, and restoring confidence in the
banking system. The banking system experienced extensive pressure during the
economic contraction of 1929-1933. During the contraction period, many
banks had to suspend business operations and most of these ultimately failed. A
number of these suspensions occurred during banking panics, when large numbers
of depositors rushed to convert their deposits to cash from fear their bank
might fail.
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AAA
1933 The intent of the AAA
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was to restore the purchasing power of American farmers to
pre-World War I levels. The money to pay the farmers for cutting back
production by about 30 percent was raised by a tax on companies that bought
farm products and processed them into food and clothing. (But by the 1920s,
European agriculture had recovered and American farmers found it more difficult
to find export markets for their products. Farmers continued to produce more
food than could be consumed, and prices began to fall.
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National
(Industrial) Recovery Act (NRA)
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was passed by Congress on June 16, 1933. "The National
Industrial Recovery Act (soon shortened to NRA) became law under President
Franklin Roosevelt in 1933 and dramatically altered America’s traditional
free-market system. Under the NRA, a majority of firms in any industry had
government approval backed by force to determine how much a factory could
expand, what wages had to be paid, the number of hours to be worked, and the
prices of products.
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the Social Security Act, 1935
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became law
above President Franklin
D. Roosevelt's signature. The Social Security Act is one of the truly momentous
legislative accomplishments in United States history. Enacted in the throes of
the Great Depression, it was a
sweeping bill that generated an array of programs to aid numerous groups of
Americans. The law got its title from the groundbreaking social insurance
program designed to provide a steady income for retired workers aged 65 or
older.
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The
Works Progress Administration (WPA)
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was instituted by presidential executive order under the
Emergency Relief Appropriation Act of April 1935, to generate public jobs for
the unemployed. The WPA was restructured in 1939 when it was reassigned to the
Federal Works Agency.
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Treaty
of Versailles May 7, 1919
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This treaty was an agreement between the Allies, the winning
countries of WWI, which were mainly France, Italy, the United Kingdom, and the
United States. The treaty was created primarily so that the Allies could decide
and agree upon what they wanted to do to the Central Powers, the losing
countries of WWI, which were mainly Germany, Austria-Hungary, Bulgaria, and the
Ottoman Empire. Woodrow Wilson (President of the United States), David Lloyd
George (Prime Minister of the United Kingdom), Georges Clemenceau (Premier of
France), and Vittorio Orlando (Prime Minister of Italy), were known as the Big
Four.
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Potsdam
Conference
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On
16 July 1945, the "Big Three" leaders met at Potsdam, Germany, near
Berlin. In this, the last of the World War II heads of state conferences,
President Truman, Soviet Premier Stalin and British Prime Ministers Churchill
and Atlee discussed post-war arrangements in Europe, frequently without
agreement. Future moves in the war against Japan were also covered. The meeting
concluded early in the morning of 2 August.
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Manhattan
Project
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The
Manhattan Project is the code name for the US government's secret project that
was established before World War II and culminated in the development of the
nuclear bomb. The idea of forming a research team to create a nuclear weapon
was endorsed in a letter than Einstein sent to Franklin Roosevelt, the president
of America at the time. This was in 1939.
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the
Marshall Plan 1947 by George Marshall
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was intended to rebuild the economies and spirits of western
Europe, primarily. Marshall was convinced the key to restoration of political
stability lay in the revitalization of national economies. Further he saw
political stability in Western Europe as a key to blunting the advances of
communism in that region.
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McCarthyism
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McCarthy’s Senator Joseph McCarthy witch-hunt began in 1950
when he announced he had a list of 205 known communists employed by the state
department. His charges led to years of senate and house
investigations and were responsible for many people losing their jobs. The
reputations of the victims of McCarthyism were destroyed and their families
were torn apart. Popular condemnation was brought down upon people who were
accused by McCarthy.
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Truman
Doctrine
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On March 12, 1947, in an address to Congress, President
Harry S. Truman declared it to
be the foreign policy of the United States to assist any country whose
stability was threatened by communism. His initial request was specifically for
$400 million to assist both Greece and Turkey, which Congress approved. The
Truman Doctrine was followed by the Marshall Plan later that
year.
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National Consumers' League
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formed in 1899 by Florence Kelley, the first woman chief
inspector. It lobbied for legal
protection of women and children. Child labor scandalous condition.
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domino
theory
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also called Domino Effect,
theory in U.S. foreign policy after World War II stating that
the “fall” of a noncommunist state to communism would precipitate the fall of
noncommunist governments in neighboring states. The theory was first proposed
by President Harry S. Truman to justify
sending military aid to Greece and Turkey in the 1940s, but it became
popular in the 1950s when President Dwight D. Eisenhower applied it to Southeast Asia, especially South Vietnam
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The Bay of Pigs Invasion
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was an unsuccessful attempt by United States-backed Cuban
exiles to overthrow the government of the Cuban dictator Fidel
Castro. Increasing
friction between the U.S. government and Castro's leftist regime led President Dwight
D. Eisenhower to break off diplomatic relations with Cuba in January 1961.
Even before that, however, the Central Intelligence Agency had been training
anti-revolutionary Cuban exiles for a possible invasion of the island.
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The Gulf of Tonkin
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Incident occurred in August 1964. North
Vietnamese warships purportedly attacked United States warships, the U.S.S.
Maddox and the U.S.S. C. Turner Joy, on two separate occasions in
the Gulf of Tonkin, a body of water neighboring modern-day Vietnam. President
Lyndon Baines Johnson claimed that the United States did nothing to provoke
these two attacks and that North Vietnam was the aggressor.
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