The Great Depression
The Reconstruction Finance Corporation did what to contradict Hoover's limited government stance?
Offered direct government loans to large businesses.
What happened as a result of banks closing their doors?
People lost their life savings.
What happened as a result of President Roosevelt's New Deal programs?
Social welfare programs were expanded.
What did the New Deal do to unemployment after 1933?
The New Deal resulted in a decline in unemployment.
What did critics say about President Roosevelt's court packing plan?
Critics said the plan threatened the principles of checks and balances.
Before the stock market crashed what was happening?
Stock prices rose dramatically and there was a speculative frenzy.
What happened as a result of the Smoot-Hawley Tariff?
Other countries raised their tariffs on American goods and American goods went unsold overseas.
What was the purpose of relief?
Helping people out (ex. Getting people back to work)
How did the PWA benefit workers?
The PWA reduced unemployment and improved purchasing power.
What was a major push factor causing people to migrate from the Great Plains.
Dust storms.
It created large inventories of unsold products.
Why did Hoovervilles spring up?
President Hoover's refusal to provide direct federal aid to the homeless.
What was the purpose of recovery?
Fixing the economy (ex. Reopening the banks and helping stabilize farm prices.)
How did the TVA benefit the South?
The TVA produced hydroelectric energy.
What happened to union membership during the Great Depression?
It grew rapidly.
What did the Great Depression lead to?
Widespread hunger and poverty.
What percentage of the American public was unemployed in 1933?
Twenty-five percent
What was the purpose of reform?
Making sure another depression does not happen again (ex. Glass-Steagall made it to where banks couldn't give loans for stock, FDIC insured people's money so they wouldn't lose everything, SEC put rules on the stock market)
What New Deal program provided pensions for senior citizens?
Social Security.
Why did opponents criticize the New Deal?
They saw it as a serious break from American traditions and values.
What did the Great Depression do to American's belief about the government?
Americans began to think the federal government was responsible for their welfare.
What was Roosevelt's message to the American people?
That he will continue to fight for them despite opposition.