THE GREAT DEPRESSION I
This term describes the stock market when stock values are running high and business appears to be booming!
What is a "Bull Market"?
This occurred on October 29, 1929 when stock values plummeted and over 16 million stocks were sold in less than 24 hours!
What was "Black Tuesday"?
This Democrat president, first elected in 1932, promised a "New Deal" for the American people.
Who was Franklin Delano Roosevelt (FDR)?
The New Deal promised the American people these so-called THREE R's.
What were Relief, Recovery and Reform?
This New Deal agency is still in effect today (barely!) and continues to provide financial relief for the elderly, unemployed, disabled and dependent children.
What is the Social Security Administration (SSA)?
At the time of the crash, only this percentage of Americans were invested in the stock market.
What is 2%?
This risky practice involves significant short-term investment in the stock market with the intension of "getting rich quick".
What is overspeculation?
Heavily invested in the stock market, over 5,000 of these collapsed within three years following the crash.
What are banks?
These informal radio broadcasts helped the President unite and reassure the American people that "the only thing [they] had to fear was fear itself!"
What were "fireside chats"?
This New Deal program hired 3 million young men between the ages of 18-25, putting them to work on outdoor projects (planting trees, building dams, etc.).
What is the Civilian Conservation Corp. (CCC)?
This New Deal agency was created under the Wagner Act and continues to successfully resolve disputes between labor and management.
What is the National Labor Relations Board (NLRB)?
By 1933, the unemployment rate was estimated to have reflected this percentage of the American people.
What is 25%?
This term involves borrowing large sums of money in order to invest in the stock market.
What is "buying on margin"?
This aimed to reduce foreign competition and protect American jobs by substantially raising tariffs but only ended up worsening the Depression.
What was the Hawley-Smoot Tariff?
This temporarily closed the nation's banks and sent in inspectors, putting an end to the nation's ongoing epidemic of bank failures.
What was the Emergency Banking Relief Act?
This New Deal agency successfully employed 8 million people in various industries and jobs all across the nation.
What was the Works Progress Administration (WPA)?
These THREE ideologies often clashed over New Deal policies and continue to dominate the political spectrum today.
What are Radicals, Liberals and Conservatives?
This was a a period of severe drought combined with high winds that proved devastating for the farmers of the Great Plains region during the 1930s.
What was the Dust Bowl?
This dangerous situation is said to have developed during the 1920's when stock values soared higher and higher with seemingly no end in sight!
What is a "Stock Bubble"?
This gave loans to businesses, banks, state and local governments to name a few but offered no direct relief to the people.
What was the Reconstruction Finance Corporation (RFC)?
Created by the Glass-Steagall Act, this protected customer's deposits in banks (and credit unions) up to $5,000 ($250,000 today).
What is the Federal Deposit Insurance Corporation (FDIC)?
This New Deal agency was the first of its kind and continues to provide flood controls, dams and electricity to the rural South.
What is the Tennessee Valley Authority (TVA)?
FDR received his strongest criticism when he attempted to convince Congress to allow him appoint six additional members to this third branch of government.
What is the United States Supreme Court?
If you were fortunate enough to find them, these offered food to starving Americans for free or at low cost.
What were soup kitchens and breadlines?
As crop prices fell, farmers borrowed more money from banks and grew even more which led to this condition which drove crop prices even lower!
What is overproduction & underconsumption?
This consisted of mostly unemployed World War I veterans who marched to Washington D.C. to demand early payment of what was owed to them for their service in the war.
What was the "Bonus Army"?
Established by the Federal Securities Act, this is the federal watchdog agency that polices the stock market and oversees all stock transactions.
What is the Securities and Exchange Commission (SEC)?
This New Deal program paid farmers (subsides) to produce less crops so that there would no longer be a surplus → prices doubled but it was later ruled unconstitutional.
What was the Agricultural Adjustment Act (AAA)?
This controversial figure promised to "Make Every Man A King" by taxing the wealthy and redistributing their income to all Americans in his so-called "Share Our Wealth" program.
Who was Huey ("The Kingfish") Long?
Shantytowns that sprang up everywhere as people lost everything were called THIS. Pockets turned inside out were nicknamed THIS and newspapers used for warmth were often referred to as THIS.
What are "Hoovervilles",
"Hoover Flags" and
"Hoover Blankets"?