Causes of the Depression
Government philosophy of the 1920s
laissez faire
Name of Hoover's philosophy of laissez faire
Rugged Individualism
This was done by FDR to get people to trust banks again
Bank Holiday
FDIC
FDR did this with taxes on wealthy and big corporations
Increased greatly
How people were able to afford most of the products they bought in 1920s
Debt/Installment Plans
The one good idea from Hoover in dealing with the Depression
Hoover Dam
This New Deal agency created lots of jobs building schools, airports, monuments, etc
Public Works Administration (PWA)
Banned banks from investing people's money in the stock market
Glass-Steagall Act
During the New Deal, the role of the federal government in peoples lives:
Increased
Using loans to buy stocks
Buying on margin
Slowed down global trade
Hawley-Smoot Tariff
This New Deal Agency was created to solve the problem of too low of crop prices for farmers
Agriculture Adjustment Act (AAA)
Social Security
FDR gave these regularly over the radio to reassure the American people
Fireside Chats
October 29, 1929
Stock Market Crash
Hoover used the military to clear out this group
Bonus Army
Federal Housing Administration did this
Helped people with their mortgages so they didn't lose homes
Act created to give more power to worker's unions
Wagner Act/National Labor Relations Board
FDR believed it was his job to save capitalism and democracy from ____________ and ______________.
Communism/Fascism
Number of Banks that failed across the US
9000
Federal Reserve actions under Hoover, made Depression worse
Restricted money supply
This created jobs and electricity in the South by paying people to build dams
Tennessee Valley Authority (TVA)
Agency created to oversee stock market
Securities and Exchange Commission
White southerners, minorities, farmers, small business owners, and unions formed this in support of FDR
New Deal Coalition