The Stock Market Crash and Bank Crisis
October 24, 1929 is known as: "______ _______" where investors sold 13 million shares in one day.
"Black Thursday"
___________ struggled with low crop prices and debt
Farmers
He would win the election of 1932 in a landslide victory.
Franklin D. Roosevelt
What were the three key programs of the first New Deal?
The Civilian Conservation Corps (CCC), Agricultural Adjustment Act (AAA), and the Tennessee Valley Authority (TVA).
This was in charge of massive public works projects (Such as dams, airports, roads, bridges etc).
Works Progress Administration (WPA)
Overvaluation of ________ and excessive _________ caused the stock market crash.
Stocks and Excessive Speculation.
Overproduction of goods in the 1920s led to:
A decline in consumer spending.
President Herbert Hoover would lose the election of 1932, primarily because of:
His actions taken during the Great Depression.
The right to form a union was guaranteed under the:
National Industry Recovery Act (NIRA).
This established a national system of social insurance, including old-age pensions, unemployment insurance, and aid to dependent children, all funded by payroll taxes.
Social Security Act
People rushing to withdraw their savings were known as doing: "_____ _____".
Bank Runs
"Hoovervilles" would pop up in cities due to
High unemployment and homelessness during the great depression.
The winner of the 1932 election would carry ___ of the ___ states.
42 of the 48
This was created under Emergency Conservation Act. Put unemployed, unskilled young men to work on rural and parks improvements.
Civilian Conservation Corps (CCC).
This established the legal right for workers to form and join unions, engage in collective bargaining, and protected them from employer interference in union activities.
Wagner Act of 1935
______ ________ caused too many people to get bank loans that shouldn't have.
Easy Credit
Thousands of farmers from the Great Plains were forced to move and leave their farms during the Great Depression due to:
The Dust Bowl
Franklin Roosevelt would run for President calling for a "______ ______" for America.
New Deal
This was introduced measures to reduce crop supply, stabilize prices and support farm incomes.
Agricultural Adjustment Act (AAA).
These two groups of people would be largely left out of the New Deal's programs.
Having a reduced money supply due to banks shutting down, meant that:
People would lose much of their life savings that were put into their banks.
What did the Reconstruction Finance Corporation, and the Federal Home Loan Bank Act do?
Lent money to struggling banks, and regulated the banking industry when giving out loans for homes.
After the 1932 election, this political party would not win another Presidential election for the next twenty years.
The Republican Party
The first New Deal aimed to provide relief to the __________ and ____, recovery for the _________ __________, and reform of the ________ _______ to prevent future crises.
Unemployed and poor, struggling economy, financial system
This established a system in which the money you deposited into your bank account would be insured by the Federal Government, which is still around today.
Federal Insurance Deposit Corporation (FDIC).