Great Depression Part 1
Support of price levels above market value by the government.
What is Federal Price Supports?
October 29, 1929 the day the stock marked crashed.
What is Black Tuesday?
Region from Texas to North Dakota that was made worthless for farming by drought and dust storms during the 1930’s and was caused by unsuitable plowing techniques.
What is the Dust Bowl?
Passed in 1933 which moved presidential inauguration from March to January.
What is the 20th Amendment?
Established the FDIC and insurance for all bank accounts
What is the Glass-Steagall Banking Act?
Buying stocks and bonds on the chance to make a quick profit.
What is speculation?
Period of time between 1929-1941 in which the economy was in severe decline and millions out of work.
What is the Great Depression?
Written by John Steinbeck, depicted the plight of the “Okies” as they headed West, and was an artistic response to the hardships of the depression.
What is The Grapes of Wrath?
F.D.R.’S programs to alleviate the problems of the Great Depression.
What is the New Deal?
Agency created to regulate the stock market.
What is the Securities and Exchange Commission?
Paying a small percentage of a stocks price and borrowing the rest.
What is buying on margin?
“The terrible tariff” passed in 1930 it established the highest tariff in history.
What is the Hawley-Smoot Tariff Act?
Cash payments or food provided by the government to the poor.
What is direct relief?
Department of treasury closed and inspected all banks.
What is the Emergency Banking Relief Act?
Repealed prohibition.
What is the 21st Amendment?
The crash of the stock market caused the Great Depression, this was the only depression to affect the U.S., and the New Deal solved all the problems of the Great Depression were all seen as this.
What are misconceptions of the Great Depression?
Little towns consisting largely of shacks that sprang up around cities also known as “Hoovervilles”.
What are shanty towns?
Idea that people should succeed through their own efforts.
What is rugged individualism?
Radio talk shows explaining issues of public concern.
What is fireside chats?
Established to put men to work building projects (roads, parks, dams, etc.).
What is the Civilian Conservation Corp?
Rising prices, stagnant wages , over buying on credit were all seen as this.
What were three reasons Americans had less money to spend in the late 20’s?
Tariff/war debt, crisis with farmers,easy credit/speculation, uneven distribution of income, over production of goods are all seen as this.
What are five factors caused the great depression?
Authorized the government to pay a $500 bonus to World War I vets aka the Bonus Army (Bonus Expeditionary Force).
What is the Patman Bill?
Relief for needy, economic recovery, and financial reform all did this.
Roosevelt’s New Deal focused on which three goals?
Provided money, food, and clothes to the poor.
What is the Federal Relief Act?