The 1920's
How was the Economy in the U.S. shortly after WWI?
It became one of the strongest in the world.
What is Hoover's first name?
Herbert
How many banks closed in 1933?
4,000
What theory did the government use to help the economy under FDR?
Prime pump theory
How did WWI affect agriculture in the U.S.?
No ag. in western Europe so U.S. farmers were told to grow more and strip land of natural areas for more farmland, helping lead to the dust bowl.
What Act or Amendment prohibited the sale or distribution of alcohol?
Volstead Act or 18th amendment
What was the Bonus Army?
WWI vets demanding their bonus pay and marched to Washington.
What happened to your money if a bank failed and you didn't get your money out before it failed?
You lost it all
What are the 3 R's of the New Deal?
What happened to the price of grain when European farmers began to grow grain again?
Prices dropped and Farmers in the U.S. began to default on loans.
What were the secret bars called during prohibition?
speakeasies
What did Hoover think was the best course of action for the government during the Great Depression?
He believed that the market would correct itself and gov. should stay out of it.
What institution did FDR put in place to restore faith in the banks?
FDIC
What were the criticisms from the far left and the right about FDR?
Left: he wasn't doing enough
Right: he was doing too much
Why was buying stock on credit a leading cause of the Stock Market crash of 1929 and eventual depression
It artificially inflated the price of stocks and when prices fell, people still owed what they originally paid for the stock plus intrest.
What was a person called who transported illegal alcohol?
bootlegger
What was one thing Hoover and the government did build to help some people?
Hoover Dam
What did FDR give banks when he first came into office?
Banking holiday
What were the speeches called that FDR did to calm the American public? These speeches were done over the radio.
Fireside chats
How much money was lost in the stock market during the crash?
10 Billion Dollars
What did many people do to purchase stock? Thinking the stock market was guaranteed money.
buy stock on credit.
What is a Hooverville?
It is a homeless encampment built during the great depression. Most notably in D.C. with the Bonus Army
How do banks operate? do they just keep your money in the vault?
Banks loan money out to make money on your money
What did FDR want to do with the Supreme Court to make them more favorable to his New Deal?
Cout Packing
How many times was FDR elected president?
4 times (1932, 1936, 1940, and 1944)