Great Depression 1
President during the beginning of the Great Depession ?
Herbert Hoover
President elected in 1932
Franklin D. Roosevelt (FDR)
What area of the country did the Dust Bowl affect?
The Midwest/Great Plains
What was the First New Deal?
15 pieces of legislation passed in the First 100 Days in office
When did Second New Deal start?
1935
What event marks the start of the Great Depression?
The stock market crash
Unemployment reached its peak in 1933 at what percent of people unemployed?
25%
What was the nickname for the strategy farmers used to buy back their land during public auctions?
Penny Auctions
3 R's of the New Deal
Relief, Recovery, and Reform
What are Fireside Chats ?
radio speech given by FDR.
What are 3 underlying issues that led to the Great Depression?
Overproduction
Uneven wealth distribution
Credit
Speculation
Stock Market Crash
Banks Failed
What was the name people gave the homeless encampments during the Great Depression?
Hoovervilles
What was the name given to farmers who fled the Dustbowl?
"Okies"
What did the FDIC do and what do the letters mean?
Federal Deposit Insurance Corporation, protect bank deposits
What was the "Bank Holiday"?
Closed ALL banks/ only good banks to reopen, the rest remained closed
What does "buying on margin" mean
buying stocks by borrowing the money.
Name given to the frantic withdraw of money from banks in the Great Depression
Bank Runs
Poor farming practices (using too much land)
Economic depression (crop prices dropped)
drought/heat/wind erosion (dirt blew into air)
Which New Deal program employed the most Americans?
Works Progress Administration
What did the SEC (Securities Exchange Commission) do?
Regulates Stock Market
What is the date of Black Tuesday (Stock Market Crash)?
October 29, 1929
Which factors contributed to the stock market crash of 1929 ?
over-speculation and buying on margin
How did the Dust Bowl affect farmers ?
Crops died in the drought
Crop Prices fell
Farmers lost their land/homes
What act provided aid to retired and unemployed people ?
Social Security Act
What did the Wagner Act protect
Workers right to unionize/organize