Causes, Effects & The Dust Bowl
A major cause of the 1929 stock market crash was this risky speculative practice, which involved putting a small 10% down payment on stocks and borrowing the rest.
What is "buying on margin?"
This 1932 march on Washington consisted of World War I veterans demanding promised payments, only to be broken up by tear gas and tanks ordered by General Douglas MacArthur.
What is the Bonus Army?
FDR's New Deal philosophy famously focused on the "Three R's": Relief for the unemployed, Recovery for business, and this "R" for American economic institutions
What is Reform?
This massive New Deal experiment hired thousands of people in poor regions to build dams, operate power plants, and control floods.
What is the Tennessee Valley Authority (TVA)?
After the Supreme Court struck down the NRA and AAA, FDR proposed a 1937 Judicial Reorganization Bill that critics famously labeled with this two-word term.
What is "Court-Packing"?
This massive environmental disaster was caused by a combination of severe drought, high winds, and poor farming practices in the 1930s.
What is the Dust Bowl?
Hoover created this federal agency to prop up failing railroads, banks, and life insurance companies, hoping the financial benefits would "trickle down" to smaller businesses.
What is the Reconstruction Finance Corporation (RFC)?
To reassure the public and encourage them to put their money back in the banks, FDR used the radio to deliver these famous broadcasts.
What are Fireside Chats?
Employing young men on federal lands and paying their families a small sum, this agency was focused on conservation and health.
What is the CCC (Civilian Conservation Corps)?
Known as "The Kingfish," this Louisiana demagogue advocated for a "Share Our Wealth" program to guarantee a minimum annual income before his assassination in 1935.
Who is Huey Long?
Because domestic wages were stagnant and European nations had not recovered enough from WWI to purchase American exports, businesses faced this major economic cause of the Depression.
What is overproduction?
Before taking federal action, Hoover believed that public relief should not come from Washington, but instead from private charities and these two lower levels of government.
What are state and local governments?
While FDR used the "Bank Holiday" to temporarily close financial institutions, it was this specific piece of legislation that gave the government the power to examine those closed banks and determine if they were financially sound enough to reopen
What is the Emergency Banking Relief Act
Created to guarantee bank deposits and restore faith in the financial system, this corporation still protects your money today.
What is the FDIC (Federal Deposit Insurance Corporation)?
This Catholic priest used the radio to attack the New Deal, calling for inflated currency and nationalizing banks before the Church made him stop due to his anti-Semitic and fascist remarks.
Who is Father Charles Coughlin?
Fleeing the devastated soil of the Midwest, farmers who migrated to California in search of agricultural jobs were often given this nickname.
What are "Okies"?
Considered Hoover’s worst mistake, this 1930 act set the highest tariff rates in history and caused Europe to retaliate with their own tariffs, worsening the global depression.
What is the Hawley-Smoot Tariff?
Highlighting his historically diverse administration, FDR appointed this Secretary of Labor, making her the first woman to serve in a president's cabinet
Who is Francis Perkins?
Led by Harry Hopkins, this massive Second New Deal agency spent billions to employ 3.4 million people in infrastructure construction, as well as hiring unemployed artists and writers.
What is the WPA (Works Progress Administration)?
Dr. Francis E. Townshend's proposal to pay $200 a month to all retired people over 60 directly influenced FDR to create this major piece of Second New Deal legislation.
What is the Social Security Act?
By 1933, the economic effects of the depression were so severe that the nation's unemployment rate reached this staggering percentage, not even including farmers.
What is 25%?
Worsening the banking crisis, Hoover's administration refused to stabilize the money supply and instead worked to preserve this rigid monetary system.
What is the Gold Standard?
As part of his initial financial reform, FDR passed this specific piece of legislation which severely increased the regulation of banks and dictated how they could invest their money
What is the Glass-Steagall Act?
This agency was created to regulate the stock market and place limits on speculation by requiring full financial audits from corporations.
What is the SEC (Securities and Exchange Commission)?
This organization, formed by conservative Democrats and Republicans, actively sought to stop the New Deal, believing it was subverting the U.S. economic and political systems.
What is the American Liberty League?