Stock Market Crash & The Great Depression
October 29, 1929 is known as this — the worst single day of selling in Wall Street history, wiping out $30 billion in one week.
What is Black Tuesday?
These makeshift neighborhoods of cardboard shacks where unemployed Americans lived were named mockingly after this president.
What are Hoovervilles (President Herbert Hoover)
FDR's New Deal was organized around these three goals starting with the letter R.
What is relief, recovery, and reform?
Most Dust Bowl migrants packed everything they owned and headed to this state in search of farm work.
What is California?
When panicked customers rushed to withdraw all their savings from a bank at once, it triggered this.
What is a bank run?
When farmers ripped up native grasses and drought hit in 1931, massive walls of dust called these swept across the plains.
What are black blizzards?
FDR used these informal radio broadcasts to speak directly to Americans and rebuild trust in banks.
What are Fireside Chats?
FDR's team of close policy advisors who helped design New Deal programs was called this.
What is the Brain Trust?
This practice — borrowing up to 90% of a stock's purchase price — left investors unable to repay their loans when prices fell.
What is buying on margin?
The insulting nickname Californians used to mock all Dust Bowl migrants arriving in their state.
Okies
This program put 2.5 million young men to work planting trees and restoring parks for $1 a day.
What is the Civilian Conservation Corps (CCC)?
This Depression-era photographer took the iconic image known as 'Migrant Mother.'
Who is Dorothea Lange?
The stock market of the 1920s was called this type of market — a long period where prices steadily rose and investors felt they'd rise forever.
What is a Bull Market?
This 1862 law gave settlers 160 free acres in the West, flooding the fragile Great Plains with farmers.
What is the Homestead Act?
This program insured bank deposits so Americans wouldn't lose their savings if a bank failed.
What is the Federal Deposit Insurance Corp?
The average stock value of 30 large US companies used to measure overall market health — known by this abbreviation.
What is Dow Jones Industrial Average (DJIA)?
After the crash, the Federal Reserve shrunk the money supply, making it harder for businesses and consumers to do this.
What is borrow/spend money?
Hoover's belief that Americans should succeed through hard work alone — without government help.
What is rugged individualism?
Payroll taxes were used to fund this New Deal program that provided monthly government checks to elderly, widowed, and disabled Americans.
What is the Social Security Act?
The Supreme Court eventually struck down this New Deal program, meant to boost depressed agricultural prices by reducing crop surpluses, as unconstitutional.
What is the the Agricultural Adjustment Act (AAA)?