Colonial America
Warm weather and plentiful rainfall, Inequalities of wealth, grow tobacco, sugarcane, rice and indigo created enormous wealth for a few large landowners,
Southern Colonies
Cash crop of the South during the Antebellum period?
Cotton
Gilded means?
Wealthy & privilege, but only for a certain few, inequalities of wealth.
What was Black Tuesday October 29th 1929?
The stock market crash that marked the beginning of the Great Depression
Goal of the Great Society?
To end poverty, promote equality, protect the environment
Reflected the diversity of colonial life, wheat, barley, oats, and livestock, but more plentiful due to the more fertile land, many diverse ethnic groups and religious tolerance
Middle Colonies
The Tariff of 1816 was the first protective tariff in U.S. history. What is the purpose of a tariff?
Protect American industries by taxing imported goods.
organized association of workers that are formed to protect and further their rights and interests.
Labor Unions
what was a direct result of the stock market crash that made things much worse
People panic and ran to draw their money out of the banks, leading to many banks to fail
Major economic problem during the 1960-1970s that resulted in the increase in the price of goods and services
Stagflation
Few colonists owned huge tracts of land. Settlers gathered into church congregations, residents were often devoted to catching fish and engaging in trade. Whaling & fishing, shipbuilding industry, Who am I
New England Colonies
Purpose of the National Bank?
Hold funds, Collect taxes, issue currency
Roaring 20s?
A decade marked by economic prosperity, cultural change, and the rise of consumerism and new entertainment.
FDRs Plan to help with the Great Depression?
Three R's
New Deal
Relief, Recovery, Reform
Reaganomics
Negative effect of Reaganomics?
Deficit Increase, wealth gap widened
In the early American colonies, there was a labor shortage due to the expanding economy. This then resulted in a practice where servants agreed to work three to seven years in exchange for their “master” paying for their travel to America
Indentured Servitude
How did the Market Revolution change the American Economy?
People started producing crops and goods to sale to other people.
Political Machines?
Powerful organizations that used patronage and corruption to control local politics
President Herbert Hoovers Policy with dealing with the Great Depression?
Laissez Faire- Hands off, limited government intervention and thought the economy would fix itself.
What event started the 2008 Financial Crisis?
Banks gave out a large number of these to people with poor credit, which is very risky.
Housing Markets collapse
Subprime Mortgages
Name the 13 colonies by section
Southern:
Middle:
New England:
Southern: Georgia, South Carolina, North Carolina, Virginia, Maryland
Middle: Pennsylvania, New York, New Jersey, Delaware
New England: Connecticut, Rhode Island, Massachusetts, New Hampshire
What was the significance of the Supreme Court case McCulloch v. Maryland (1819)?
What was the main significance of the Supreme Court case Gibbons v. Ogden (1824)?
McCulloch v. Maryland (1819): States cannot tax the national bank.
Gibbons v. Ogden (1824): Only federal government can regulate interstate commerce
Robber Baron?
Captain of Industry?
Robber Barons gained wealth through unethical practices, EX:
Captains of Industry used wealth to positively impact the nation, EX: creates job, expands markets, Help build the nations, Raises Productivity, Practices Philanthropy
Name 2 New Deal Programs and explain their purpose?
Tennessee Valley Authority (TVA): Constructed hydroelectric dams and brought electricity to Appalachia.
Social Security Act: Old age pensions, retirement at 65 get a social security check.
Civilian Conservation Corps (CCC): Provided jobs for young men 18-25, soil soldiers-planted trees, parks, trials.
Workers Progress Administration (WPA): hired people to build public works projects, roads, bridges, parks, airports.
Agriculture Adjustment Act (AAA): Agricultural reform by giving farmers subsidies
Federal Deposit Insurance Corporation (FDIC): Insured up to 2,500 in savings accounts
Name 2 Great Society Programs and explain their purpose
Appalachian Regional Development Act- Federal resources to regions of Appalachia
Economic Opportunity Act- War on Poverty, through education, training and employment agencies.
Medicare- Healthcare for the elderly
Head Start-Pre school education and nutrition
Job Corps- Trained unemployed workers