Great Depression 1
What was the spark of the Great Depression?
The stock market crash
What area of the country did the Dust Bowl affect?
The Great Plains
What ended the Great Depression?
World War II
What was the "Bank Holiday"?
Closed ALL banks/ 4 day “Bank Holiday”
Emergency Banking Relief Act- Passed by Congress, allowed only sound banks to reopen, the rest remained closed
What was a goal of the Second New Deal?
to provide electricity to rural areas
What law did Congress pass in 1930 that tried to protect American Industry?
Hawley-Smoot Tariff Act
What 2 underlying issues led to the Great Depression?
Overproduction and Bank Closures
Result of Black Tuesday
businesses went bankrupt, people lost live savings
Impact of the New Deal
tried to make economy more stable and expanded power of federal gov't
Relief Program
government program to help the needy
President during the beginning of the Great Depession ?
Herbert Hoover
What was the name given to people affected by the Dust Bowl and forced to leave their homes?
Oakies
What were the New Deal's actions
reopened healthy banks, protected savings, regulate stock market
Who did FDR shift his worries toward ?
Hitler
What didi the SEC (Securities Exchange Commission) do?
Regulates Stock Market
What does "buying on margin" mean
paying a small percentage of a stocks as a down payment and borrowing the rest.
What was the name people who disliked Hoover called the slums ?
Hoovervilles
What did the new deal stop
wage cuts, lay offs , child labor and minimum wage
What happen to people who used credit ?
Huge Debt
What are Fireside Chats ?
radio speech given by FDR.
What is the date of Black Tuesday ?
October 29, 1929
How long did Great Depression last ? Through what years ?
11 years and 1929-1940
What act provided aid to unemployed people ?
Social Security Act
How did the Dust Bowl effect farmers ?
crop prices fell
Which factor contributed to the stock market crash of 1929 ?
over speculation