Causes
What caused The Depression?
1. Boom to Bust
2. Farm Failures
3. Lower Wages
4. Bank Failures
Define overproduction
Supply of manufactures goods exceeds the demand
What percent of people were out of work in 1933?
25%
Roosevelt was quoted saying
" We have nothing to fear but fear itself"
List Challenges for Women
1. Had to support themselves and families
2. Faced job losses
3. Job competition with men
4. Found new way to save money such as, sewing clothes, canning fruits, and baking bread
In your words explain The Stock Market Boom
People invested money in the stock market, believing stocks would keep going up. Expected to get rich quick.
How did overproduction contribute to the Great Depression?
Factories produced more products than people could afford to buy
Prices increased faster than salaries
Examples of poverty
Selling stuff for pennies
Some men hopped freight trains in search of work in other towns
3 goals for the New Deal
1. Relief for the jobless
2. Economic Recovery
3. Reforms to prevent future depressions
Why was Eleanor Roosevelt a role model for women?
She was a working woman.
She took on new roles as the "eyes and ears" of the President.
Stock Market Scandal
From 1925-1929 the value of stocks doubled. Stocks were not worth the amount that they were being sold for.
What happened to these industries:
Automobile
Housing
Banking
Automobile- car sales decreased more than 1/3 in 9 months
Housing- Construction fell by $2 billion
Banking- People were not paying back loans. Banks had to close, people lost money.
Define Hooverville and Hoover Blanket
Hooverville- Communities of run down shacks built by homeless people.
Hoover Blanket- Newspapers that homeless people used to keep warm.
Relief- Civilian conservation corps (CCC)- 1933 hired young men between the ages of 18-25 constructing parks and digging canals. Works Progress Administration (WPA)- 1935 put people to work building or repairing public buildings.
Recovery- National Recovery Administration (NRA)- 1933 brought labor and government together. Public Woks Administration (PWA)- 1933 granted more than $3 billion to build large public-works projects. Tennessee Valley Authority (TVA)- 1933 built dams along the Tennessee river to control flooding, provide cheap electricity and increase jobs and prosperity.
Define Civil Rights and Migrant Worker
Civil Rights- Rights guaranteed to all people in the constitution
Migrant Worker- People who travel from farm to farm picking crops
In your words explain The Crash of 1929
October, 1929
October 24th-Black Thursday
October 29- Black Tuesday
Many of stocks became worthless, and thousands of people who invested lost their entire life savings
Define Bankruptcy and Default
Bankruptcy- Financial failure caused by a company's inability.
Default- Fail to pay loans.
List impact on families
Many fathers left home in search of work
People put off getting married
Couple had fewer children
What problem did the Supreme Court have with some of the New Deal legislation?
1935-1936 declared several New Deal measures to be unconstitutional.
FDR proposed appointing up to 6 new Supreme Court justices
Congress defeated his plan
Cause of the Dust Bowl in the 1930s?
Black Blizzards
Caused by periods of drought
The Grapes of Wrath told the miseries of the Dust Bowl
What was the Smoot-Hawley Tariff Act of 1930?
American business's were protected from foreign competition by raising the taxes on products imported from other countries. This however reduced opportunities for people to sell their products. The tarriffs led to further unemployment and business failures
Farms struggled to repay bank loans causing many banks to go out of business
People were unable to buy what factories produced
they had less money to make purchases
most people lost their jobs
What was the "Bonus Army"?
Angry WWI vets marched to Washington demanding their bonus payment of $1000.
Congress rejected their plea.
Government forced out those that refused to leave by use of tear gas and machine guns
Who were the New Deal Critics?
Huey Long, Francis Townsend, and Charles Coughlin
Against and For the New Deal
Against- Gave to much power to the federal government, Government programs threatened individual freedom and free enterprise, increased the national debt, did not end the Great Depression.
For- Restored faith in the Government, eased many problems, employed millions, built dams and bridges and preserved 12 million acres of parkland.