The Roaring 20s & the Crash
This term describes buying stocks with mostly borrowed money, a significant cause of the crash.
Buying on Margin
Newly homeless people built communities of shacks on public lands and named them this, blaming the President for their plight.
Hoovervilles
To solve the banking crisis, the Emergency Banking Relief Act issued licenses only to banks that federal examiners found to be this.
Financially sound
The Wagner Act was significant because it guaranteed workers the right to organize unions and established this Board to supervise union elections.
The National Labor Relations Board (NLRB)
According to the "Cyclical Effect", when automobile sales declined, it lowered demand for oil, rubber, and steel, which led to lower wages and eventually this.
Unemployment
Men who moved around the country by slipping into open boxcars on freight trains were known as this.
Hobos
💥The Agricultural Adjustment Administration (AAA) tried to raise farm prices by paying farmers to do what?
Not grow crops (or plow under crops)
💥Social Security was funded by premiums/taxes on workers. Who was originally "left out" of this system?
Farm and domestic workers
President Hoover opposed direct federal relief to the unemployed because he believed that only state/city governments should dispense relief and that individuals should rely on this concept.
Rugged Individualism (or that individuals should be responsible for taking care of themselves)
💥In 1932, farmers on the Great Plains began losing crops not just because of prices, but also because of this environmental phenomenon: soil drying up.
The Dust Bowl
This administration, symbolized by the Blue Eagle, established codes for fair competition, setting production, prices, and wages.
The National Recovery Administration (NRA)
This Act abolished child labor and established a 40-hour workweek.
The Fair Labor Standards Act
This 1930 tariff was intended to protect American industry but ended up dampening commerce on both sides of the Atlantic.
The Hawley-Smoot Tariff
This author compared migrant people to "bugs" scuttling westward in his famous novel, The Grapes of Wrath.
John Steinbeck
This program offered unemployed young men (ages 18-25) work planting trees, fighting forest fires, and building reservoirs.
The Civilian Conservation Corps (CCC)
This Louisiana Senator challenged FDR with his "Share Our Wealth" program, which planned to tax the rich to give to the poor.
Huey Long
💥 In which year was the most significant crash in stock prices?
1929
High tariffs restricted foreign demand. Why were these tariffs originally put in place?
To make U.S. goods cheaper than foreign imports (protectionism)
Which two major First New Deal programs did the Supreme Court rule unconstitutional?
The Agricultural Adjustment Act (AAA) and the National Recovery Administration
What event explains the sudden rise in unemployment between 1937 and 1938?
The Recession of 1937