Fish
Who said “THe only thing to Fear, is Fear itself”
FDR
Hoover ordered a Dam to be built on the Colorado River.
$700 Million project. Put many people to work.
Hoover Dam or first known as Boulder Dam
Towns of shacks that sprang up due to massive number of homeless.
This was a term given to the middle of the country during the Great Depression when years of deforestation and over production of land, along with drought, for 7 years, caused massive windstorms that covered everything in dirt.
100’s of 1000’s moved to Pacific Coast. Route 66. Okies.
What major event led to the start of the Great Depression?
Stock Market Crash 1929
Banks CLosed, millions lost life savings
Teenagers traveled the country in search of work, food, and adventure. Adventurous but very dangerous.
Wild Boys
Gave billions to create jobs immediately building buildings, fixing roads, and sewing groups for women.
Works Progress Administration (WPA)
This was a Literary and Artistic Movement celebrating African-American Culture
Harlem Renaissance
October 29, 1929. The day in which everyone realized the stock market had no more money, and it crashed.
16.4 Million Shares were dumped, millions left without buyers.
What is this day called?
Black Tuesday
FDR’s only opposition was the republican supreme court. When they called NIRA unconstitutional, FDR asked congress to allow him to appoint 6 additional justices to make a total of 15 (and water down the opposition).
Congress said no because it was against the constitution, and it didn’t happen. Within his next term, 6 justices retired or dies anyway.
Court Packing Plan
Jamaican, felt that African Americans needed to create a separate society.
Marcus Garvey
Government giving people money to get them back on their feet
Herbert Hoover was the President
He declined Direct Relief - which is the Government giving people money to get them back on their feet.
Thought the economy would naturally recover.
Acted as welfare for needy families and for retired people.
Social Security Act
designed to protect American farmers from foreign competition. Other countries did the same. Now U.S. can’t export.
Hawley-Smoot Tarriff
No more money sent to Germany, who then couldn’t pay England and France, putting them in a Depression as well.
This measures the stock market's health
Dow Jones Industrial Average
Banks would loan someone 90% of the cost of a share (by loaning them other peoples money). This was how the banks were able to invest average people’s money into the stock market.
Buying on Margin
Federal Home Loan Bank Act
Lowered Mortgage Rates for Homeowners.
Reconstruction Finance Corporation – Gave $2 Billion to get the banks, railroad, and life insurance companies up and running again.
(A group of WWI veterans who marched to Washington DC to ask for their Bonuses promised to them in 1945 to be paid out in 1932 during the depression)
Bonus Army
Hoover commanded Douglas MacArthur and Dwight D. Eisenhower to disband the group.
MacArthur showed up with 1,000 soldiers and tear gassed over 1,000 people, including a 8 month old baby who died, shot two people, and bayoneted many others.
Guaranteed the money you put in a bank.
Securities and Exchange Committee (SEC) Regulates trade and the stock market
FDIC (Federal Deposit Insuracne Corporation)
This was FDR’s overall title he gave his time in office. It had three goals: Focused on relief for the needy, economic recovery, and financial reform.
This insured the money in Banks, so people wouldn’t lose it.
Glass Steagall Act
Why did the 20's experience an economic boom?
The main reasons for America's economic boom in the 1920s were technological progress which led to the mass production of goods, the electrification of America, new mass marketing techniques, the availability of cheap credit and increased employment which, in turn, created a huge amount of consumers