Great Depression — solutions across the Americas
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Flip to reveal answersWhat was the Reconstruction Finance Corporation (RFC)?
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Question
What was the Reconstruction Finance Corporation (RFC)?
Answer
A 1932 Hoover programme that lent federal money to struggling banks and railroads, but gave no direct relief to individuals.
Question
Why did the Bonus Army damage Hoover's reputation?
Answer
In 1932, unemployed WWI veterans camped in Washington DC demanding early bonus payments; Hoover sent the army to disperse them, making him look uncaring.
Question
What is the difference between the First and Second New Deal?
Answer
First New Deal (1933–35): emergency rescue — banks, farmers, jobs (Emergency Banking Act, CCC, AAA, NRA, TVA). Second New Deal (1935 on): lasting reform — WPA, Social Security Act, Wagner Act.
Question
What did the Social Security Act (1935) create?
Answer
The USA's first national system of old-age pensions and unemployment insurance.
Question
What was the 'Roosevelt Recession'?
Answer
A sharp economic downturn in 1937–38 after FDR cut New Deal spending too early, showing the recovery was still fragile.
Question
What was Mackenzie King's stance on Depression relief before 1930?
Answer
He believed relief was a provincial responsibility, not a federal one, and refused extra funds to opposition-run provinces.
Question
What was the 'Bennett New Deal' and why did it fail?
Answer
R. B. Bennett's 1935 package of unemployment insurance, minimum wage and market regulation laws, inspired by FDR; came too late to save his government and was mostly struck down by the Privy Council as unconstitutional.
Question
Who was Lázaro Cárdenas and when did he lead Mexico?
Answer
President of Mexico from 1934, known for radical agrarian reform, oil nationalization, ISI and labour rights.
Question
What is Import Substitution Industrialization (ISI)?
Answer
A policy of protecting new domestic factories with tariffs so a country makes goods at home instead of importing them.
Question
What happened in Mexico in 1938 regarding oil?
Answer
Cárdenas nationalized foreign-owned oil companies, creating the state oil company PEMEX — still a source of national pride today.
Question
What is an ejido?
Answer
A plot of communal land, collectively farmed by a village, used in Cárdenas's agrarian land redistribution.
Question
Compare the effectiveness of the USA's and Canada's Depression responses.
Answer
The USA's New Deal (especially the Second New Deal) built lasting institutions like Social Security; Canada's Bennett New Deal was mostly struck down by the courts and achieved little before his government fell in 1935.
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Full study notes for Great Depression — solutions across the Americas
Topic 11.7 hub
The Great Depression in the Americas (c.1920–1939)
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