Causes and The Crash
This day on Oct. 1929 saw the stock market crash.
Black Tuesday
These were shantytowns built using scrap metal, wood, and cardboard. In _________ , people were digging through trash, begging on the street for food, and waiting bread lines.
What are Hoovervilles?
Gave young men jobs planting trees, cleaning forests, and draining swamps. Provided them with shelter, clothing, and food. Paid a monthly wage of $30, $25 of which had to be sent home to their families. 2 year max.
What is the Civilian Conservation Corps (CCC)?
This environmental disaster was caused by drought and over-farming.
What was the Dust Bowl?
Roosevelt addressed the nation three to four times a year in 15 – 45 minute speeches on the radio. He spoke clearly and simply about the nation’s welfare. He was able to form a bond with the American public while sharing his ideas and strategies.
What are fireside chats?
Term for buying stocks with a small down payment and a loan.
What is buying on margin?
This dam was a major public works project started under a specific president.
What was the Hoover (Boulder) Dam ?
Gave people jobs building public schools, courthouses, roads, post offices, & bridges, tunnels and airports.
What is the Public Works Administration (PWA)?
Nickname for migrant workers who fled Oklahoma for California.
Who are "Okies"?
The "Three Rs" of the New Deal: Relief, Recovery, and _______.
What is reform?
One of the 5 causes: producing more goods than people can buy.
What is overproduction?
Hoovers philosophy that stated "As individuals, people had the strong will to succeed. It was a result of the American spirit!"
What is Rugged Individualism?
Insured Americans against unemployment and provided them with retirement benefits.
At its peak in 1933, the unemployment rate reached this percentage.
What is 25%?
The first thing FDR did in office was declare this to fix the banks.
This prevented people from withdrawing their money
He reopened banks that were sound
Kept those who were unable to pay people closed.
This restored the people’s confidence in the bank.
What is the banking Holiday?
When millions rushed to withdraw money, it caused these to fail.
What is bank runs/bank failures?
This group of WWI veterans marched on D.C. for early payment
The Bonus Army
The government paid farmers to limit their production of crops. The goal was to decrease supply which happened as a result of overproduction. This would help to raise crop prices.
What is the Agricultural Adjustment Act?
This event in 1941 is often credited with finally ending the Great Depression.
What is the beginning of WW2?
This was FDR’s plan to add 6 more justices to the Supreme Court.
What is court packing?
A high tax on US imports in hopes that Americans would buy American made goods. Foreign countries responded by raising tariffs on American goods, thus stopping trade and making the depression worse worldwide.
What is the Smoot-Hawley Tariff?
Hoovers theory that aiding banks would eventually help citizens
What is trickle down economics?
Created to prevent fraud in the stock market and prevent another crash.
What is the Securities and Exchange Commission (SEC)?
Famous photographer who captured the "Migrant Mother" image.
Critics said "court packing" violated this constitutional principle.