The Economy & Stock Market Crash
This day on October 29, 1929, saw the stock market plummet as millions of shares were sold frantically with no buyers.
What is Black Tuesday?
Mockingly named after the president, these makeshift shantytowns arose on city borders to house homeless families.
What are Hoovervilles?
Hoover's belief that individuals should take care of themselves rather than depend on government handouts was known by this phrase.
What is "rugged individualism"?
The Bonus Army was comprised of around 20,000 veterans from this war who marched on Washington, D.C., in 1932.
What is World War I?
FDR's series of informal radio addresses designed to explain New Deal policies and calm the American public were called these.
What are fireside chats?
This practice involves paying a small percentage of a stock's price up front and borrowing the rest to pay for the balance.
What is buying on margin?
Around 300,000 homeless wanderers who hitched rides on freight trains in search of work were known by this nickname.
What are hoboes?
Initially called the Boulder Dam, this massive public works project on the Colorado River was created to provide jobs, electricity, and flood control.
What is the Hoover Dam?
The veterans marched on D.C. to demand the immediate payment of cash bonuses promised to them under this proposed bill.
What is the Patman Bill?
During his intense first period in office, known by this numeric phrase, FDR and Congress passed over 15 major pieces of New Deal legislation.
What is the Hundred Days?
Passed in 1930, this law established the highest protective tariff in U.S. history, severely damaging international trade.
What is the Hawley-Smoot Tariff Act?
Caused by severe drought and decades of soil exhaustion, this environmental disaster forced Great Plains farmers to head West.
What is the Dust Bowl?
Established under Hoover, this federal agency was authorized to lend emergency government funds to struggling banks, railroads, and businesses.
What is the Reconstruction Finance Corporation
Although the House approved the Patman Bill, this legislative body voted it down, causing most veterans to leave.
What is the U.S. Senate?
This 1933 law established the FDIC to insure individual bank deposits up to a certain amount.
What is the Glass-Steagall Act?
By 1933, the U.S. unemployment rate reached this percentage, leaving millions of workers jobless.
What is 25 percent?
These two public services run by charities and public agencies offered low-cost or free meals to hungry city residents.
What are soup kitchens and bread lines?
Economic frustration during the Great Depression led to major political gains for this party in the 1930 midterm elections.
Who are the Democrats?
Fearing violence after 2,000 veterans refused to leave, President Hoover ordered this entity to disband the remaining marchers.
What is the U.S. Army?
This New Deal relief agency put young men to work building roads, developing parks, and planting trees.
What is the Civilian Conservation Corps (CCC)?
This term refers to government policy where it buys surplus farm crops at guaranteed prices to assist struggling farmers.
What are price-supports?
Between 1928 and 1932, the suicide rate rose by over 30%, while admissions to these facilities tripled.
What are state mental hospitals?
Hoover passed this act to lower mortgage rates for homeowners and help farmers refinance their farm loans.
What is the Federal Home Loan Bank Act?
The U.S. infantry used this harmful chemical agent on over 1,000 men, women, and children during the clearance of the Bonus Army camp.
What is tear gas?
The Supreme Court struck down two major New Deal programs as unconstitutional: the Agricultural Adjustment Act (AAA) and the Industrial Act.
What is the National Industrial Recovery Act (NIRA)?