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Date Posted: 18:57:13 02/12/03 Wed
Author: cassie
Subject: ch26 Retrenchment & Recession

Retrenchment & Recession
-by summer of 1937 national income had risen to nearly 72 billion
-Roosevelt wanted to try & balance the federal budget
-Treasury Secretary Henry Morgenthou feared inflation
-then Jan.&Aug. 1937 many workers had lost their jobs
*Roosevelt Recession
-it was a direct result of unwise decision to reduce spending
-president asked congress for emergency appropriation of 5 billion for public works& relief programs
-w/ govs. help a recovery seemed to be underway
*Temporary National Economic Committee
-members included congress & officals from several executive agences
*Fair Labor Standars Act
-est. national minimum wage
-a 40 hr. work week
-placed strict limits on child labor
*End of the New Deal
-end of 1938 New Deal had come to an end
-threat of world crisis hung heavy in political atmosphere
-Roosvelt was concerned w/ preparation for war

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