Day 1: Stock Market
Throughout the fall of 1929, stock prices steadily declined until October 29th, when the sharpest drop occurred and the stock market collapsed
What was the Stock Market Crash?
Years of poor farming practices and overproduction weakened soil quality and destroyed its ability to hold moisture and a severe drought hit in the early 1930s, the dry soil turned to dust. This caused massive dust storms that buried homes and ruined farmland
What was the Dust Bowl?
took little action to address the Great Depression and believed a laissez-faire approach to rebuild the economy was best. Makeshift homeless camps were named after him because he was blamed for the depression.
Who was President Herbert Hoover?
President Roosevelt’s plan to combat the Great Depression provided economic relief, recovery, and reform to the American public and helped to improve daily life.
What was the New Deal?
argued that the U.S. government had overextended its power in citizens’ lives. They believed the focus should be more on personal responsibility and liberty rather than dependence on government
Who was the Liberty League?
many Americans were concerned about the economy and rushed to their banks in an attempt to withdraw their money but since the banks had lost money in the stock market and the government did not protect bank accounts many families lost their savings.
What were bank failures?
helped uplift the nation’s spirits during the Great Depression by providing hope through popular musicals and comedies
What is Hollywood?
believed the government had a responsibility to help pull the United States out of the Great Depression. He held fireside chats to calm fears and discuss his polices.
Who was President Franklin Roosevelt?
These programs created relief for Americans by government jobs for young men to work on projects like land management and park construction, building public projects, such as the Golden Gate Bridge and the Hoover Dam, in areas with a growing population
What were the Civilian Conservation Corps (CCC) and the Public Works Administration (PWA)?
felt the government had not done enough to help the poor and elderly and wanted it to “share the wealth” to provide a decent standard of living to all Americans
Who was Senator Huey Long?
significantly raised taxes on imported goods foreign nations retaliated by reducing trade with the United States, which led to a decline in international exports and further damaged the U.S. economy
What was the Smoot-Hawley Tariff?
singers like Gene Autry became national sensations in the 1930s because their songs reflected the struggles of the era and resonated with people across the country
What is country and western music?
temporarily closed all banks. They were only allowed to reopen once approved as financially stable, which helped restore public confidence in the banking system
What was a Bank Holiday?
Prevented another depression by providing financial support for the elderly, unemployed, and disabled
What was the social security act?
After Roosevelt was elected to a fourth presidential term, the ______________________________ was passed, which limits presidents to two terms
What was the 22nd amendment?
Many investors even borrowed money to purchase stocks and believed they could pay off their loans which drove stock prices to rise to drastically high levels.
What is overspeculation?
Many farmers abandoned their dust-covered homes on _______________________________ in search of new economic opportunities out west in California
What was the Great Plains?
forcibly sent Mexican immigrants back to Mexico to open up more jobs.
What was the Mexican Repatriation Act.
Two programs to prevent another Depression. One that protects savings by guaranteeing deposits, even in the event of bank failures and another that ensures a fair market by enforcing rules for investors and businesses
What was Federal Deposit Insurance Corporation (FDIC) and Securities and Exchange Commission (SEC)?
Roosevelt’s wife contributed to improving the lives of American citizens. She was a strong and outspoken advocate for the less fortunate and earned worldwide respect for her humanitarian efforts and commitment to social justice
Who was Elenore Roosevelt?
overproduction caused people to lose their jobs and people could not pay for their homes.
What was unemployment?
During the Great Depression, _______________ continued to drop and made it difficult for struggling farmers to earn a profit
What is crop prices?
Created by President Hoover to deal with the depression. provided loans to businesses and banks, but this effort came too late and did little to prevent businesses from failing
What was the Reconstruction Finance Corporation?
provided loans for home mortgages and repairs
What was the Federal Housing Administration (FHA)?
In response to the Supreme Court ruling some of his New Deal programs unconstitutional, Roosevelt proposed a plan to increase the number of Supreme Court justices from nine to as many as fifteen
What was court packing?