The 3 Rs
What are the 3 Rs?
Reform, relief, recovery
What dirty issue caused problems for farmers at the start of the Great Depression?
The Dust Bowl
What was the Civilian Works Administration?
The CWA was designed to put jobless Americans back to work and to use them on beneficial public projects
Who was the President that helped end the Great Depression?
Franklin Delano Roosevelt (FDR)
What was the purpose of reform?
fix the economy so this wouldn’t happen again
What dropped rapidly causes many people to lose a lot of money?
the stock market
What is the Federal Housing Administration?
The fha is an organization that mainly helped poor people make home mortgage loans made by banks and other private lenders in the great depression
What was the nickname for President Hoover?
the Do-nothing President
What was the purpose of recovery?
to fix the economy so this wouldn’t happen again
What happened to banks when the stock market banks?
They ran out of money. People went to the bank in order to get their money, but there was not enough for everyone.
What is the Public Works Administration?
They reduced unemployment and increased purchasing power through the construction of highways and public buildings.
What were the fireside chats?
FDR would speak to the people on the radio to tell them the plan for recovery.
What was the purpose of relief?
help the American people during the Depression
Why did the prices of food drop a lot?
The government encouraged farmers to produce more to send to Europe, but when they didn't need it anymore, there was a lot of extra in the US which brought down prices.
What is the Agricultural Adjustment Agency?
Offered money to farmers to produce less crops in order to help raise prices.
What was the name of the places that people had to construct in order to have shelter?
Shanty towns
Which R was the Federal Deposit Insurance Corporation (insure deposits made in the bank to ensure people can get their money)?
Reform
Why did people run to the banks?
They wanted to take out their own money before the banks ran out. People caused a panic so everyone went to the bank.
What is the Federal Emergency Relief Act?
The federal government gave money to the states to give to citizens. It did not have to be paid back.
What was the first step FDR took to help the banks recover?
He closed them until they were "healthy"