Road to the Crash
This Decade of economic growth and rising stock values preceded the Great Depression
What were the 1920s?
The major stock market crash occurred in October of this year.
What is 1929?
Hoover generally believed that the government should not do this in the economy.
What is intervene?
One of FDR's first actions was to declare this on banks to stop panic and gold outflows.
What was a bank holiday?
This branch of the government declared some New Deal acts unconstitutional.
What is the Supreme Court?
The widespread increase in this activity, buying stocks hoping for quick profits, contributed to the inflated market.
What is speculation?
This sector of the economy suffered in the early 1920s due to drought and overproduction.
What is agriculture?
This 1930 tariff aimed to protect US farmers but harmed international trade.
What is the Smoot-Hawley Tariff Act?
This early New Deal act aimed to provide relief to the unemployed through public works projects.
What is the Federal Emergency Relief Administration (FERA)?
Critics from the left argued that Roosevelt's New Deal did not go far enough in regulating this sector.
What is business (and banking)?
The Federal Reserve's action in 1928 to increase these led to declining confidence.
What are interest rates?
A significant drop in this, the money available to consumers, led to falling demand.
What is purchasing power?
Hoover insisted on "defending the dollar" by remaining on this monetary standard.
What is the gold standard?
This New Deal program aimed to conserve natural resources and provide employment for young men.
What is the Civilian Conservation Corps (CCC)?
This Louisiana governor, a vocal critic, advocated for more radical wealth redistribution.
Who was Huey Long?
The period from 1920-1929 is characterized by significant economic ________ in US history.
What is growth?
Many banks had few of these, making them susceptible to failure after the stock market crash.
What are reserves?
This federal agency, established in 1929, aimed to stabilize agricultural prices but achieved limited success.
What is the Federal Farm Board?
This act aimed to stabilize agricultural prices by paying farmers to reduce production.
What is the Agricultural Adjustment Administration (AAA)?
A key criticism against Roosevelt was that his policies ultimately failed to fully resolve this major economic problem.
What is unemployment?
The rising value of these, fueled by speculation, made the market vulnerable to a crash.
What are stocks and shares?
This economic condition, a drop in prices and wages, discouraged investment and further reduced demand.
What is deflation?
Critics argued that Hoover's policies failed to adequately increase this, which was crucial for economic recovery.
What is the money supply?
Taking the US off this monetary standard aimed to help US exports by making them cheaper.
What is the gold standard?
Despite criticisms, the New Deal is often credited with providing this crucial element to the American people during the crisis.
What is hope (or a sense of security)?