Causes of Depression
Why did the Stock Market Crash in 1929?
Over speculation of Stocks, driving prices high which then resulted in panicked selling.
Why did young men start to “ride the rails” during the Great Depression?
During the Great Depression many young men rode trains from city to city looking for work.
The New Deal
How was/is Social Security funded?
A federal income tax on the employee and the employer
What was the FEC?
A government organization established to regulate banks and the stock market.
What was the name of the day which the Market Crashed?
Black Tuesday
What reason did so many people become "hobos" during the Great Depression?
Hobos were primarily men who were illegally using trains to travel the country looking for jobs.
The diesease which left FDR wheelchair-bound was?
Polio
The Civilian Conservation Corps was...
a program created to employ young men ages 18-25. Young men planted trees, cleared paths, and built parks.
What caused the "Bank Run"?
Banks did not keep proper reserves in their vaults, speculated in the stock market with their client's funds, and lent money to speculative investors and people who could not pay back their loans.
How did overuse of consumer credit help cause the great depression?
Americans couldn't pay their high credit card debts, causing banks to lose money.
How did banks failing during the Great Depression make the Great Depression even worse for Americans?
there was no money available for regular people to borrow for their bills or to start businesses.
Which President was FDR related to?
Theodore Roosevelt
"Public works" projects were designed to get Americans back to work again by providing them with good paying jobs on STORES around the country.
True?
False?
False
What did farmers do to combat the over supply problem?
Farmers would purposefully destroy their crops and dump out their milk to reduce the overall supply
What was the GREATEST problem of the Depression?
Massive Unemployment
What was a Hooverville?
Shantytowns built by homeless people during the Great Depression named after President Herbert Hoover, who was widely blamed for the economic crisis.
What was the name of the radio broadcasts FDR used to gain back trust and explain events to Americans?
Fireside Chats
What do most people credit with ACTUALLY ending the Great Depression?
World War II
Why was OVER SUPPLY a hugh issue for farmers?
Farmers produced too many crops and products and their customers didn't need all those products so the prices the buyers were willing to pay fell dramatically
What behavior from the banks helped cause the great depression?
Banks were offering cheap loans to stock speculators, offering risky loans, and investing their customers’ money in the stock market.
During the Great Depression as many as 1/4 of working age adults looking for work were unemployed
True?
False?
True
Why did FDR think that many elderly Americans were at greater risk for financial disaster?
Many elderly Americans had not saved for retirment.
Relief - for the poor
Recovery -to get the economy back
Reform- to ensure no future depressions
In what way did the "Dust Bowl" make the Great Depression worse for many Americans?
The Dust Bowl caused many farms to fail because they could not grow their crops and many Americans needed to flee their homes and move to other parts of the country