Great Depression 1
What ushered in the Great Depression?
The stock market crash
What area of the country did the Dust Bowl affect?
The Great Plains
What have many historians pointed to that helped bring an end to the Great Depression?
Production during and through World War II
What was the "Bank Holiday"?
Closed ALL banks/ 4 day “Bank Holiday”
Emergency Banking Relief Act- Passed by Congress, allowed only sound banks to reopen, the rest remained closed
How was FDR considered socialist?
He drastically expanded the power of federal gov't
What protectionist trade policy did Congress pass in 1930 that tried to protect American Industry?
Hawley-Smoot Tariff Act
What 2 underlying issues led to the Great Depression?
Overproduction, high unemployment, massive poverty, buying on credit, unequal distribution of wealth, and Bank Closures
Result of Black Tuesday
businesses went bankrupt, people lost live savings
What was the goal of the New Deal?
tried to make economy more stable and address the economy through job creation.
What were the New Deal Goals based in (3 R's)?
relief, recovery, and reform
President during the beginning of the Great Depession ?
Herbert Hoover
What was considered the heart of the problem in regards to the causes of the Great Depression?
Bank failures or banks
What did "rugged individualism" support ?
Stated that individuals could make a good life for themselves through hard work
Court-packing
What didi the SEC (Securities Exchange Commission) do?
Regulates Stock Market
What does "buying on margin" mean
paying a small percentage of a stocks as a down payment and borrowing the rest.
What was the name people who disliked Hoover called the slums ?
Hoovervilles
How did the New Deal desire to help industry?
wage cuts, lay offs , child labor and minimum wage
What New Deal Act created public work jobs for young men ?
Civilian Conservation Corps (CCC)
What are Fireside Chats ?
radio speech given by FDR.
What is the date of Black Tuesday ?
October 29, 1929
How long did Great Depression last ? Through what years ?
11 years and 1929-1940
What act provided aid to unemployed people and the elderly ?
Social Security Act
"100 Days" refers to
The first three months of FDR's first term in office
What New Deal policies were found unconstitutional?
NIRA and AAA