Causes of the Great Depression
1. Outdated Industry
2. Farming Problems
3. Too much easy credit
4. Unequal distribution of money
What is speculation?
Buying a stock then re selling it immediately to make a quick profit
What is buying on margin?
Borrowing money to take out a loan
What is black tuesday?
day the stock market crashed
When was Black Tuesday
October 29th, 1929
What is a shantytown?
A make shift town made from trash and cardboard boxes
What was the dustbowl?
area from Texas to North Dakkota where the wind blew the dust and farmers could grow anything b/c of drought and dust storms
How did the dustbowl affect farmers?
Farmers couldnt grow antything and they lost their land and had to move
Why were families breaking up?
People had to go to other cities to find work and some family members were dying of disease
How did Hoover handle the beginning of the Depression?
He basically did nothing and said it would fix itself and provided no direct relief
Why did people blame Hoover for the depression?
He did too little too late
What action did Hoover finally take?
He created a few programs to provide construction jobs, but still it was too little too late
Who was the bonus army?
WWI vets that went to Washington asking for their $500 bonus early.
What happend to the bonus army in Washington?
The bill wasnt passed and the vets were forced to go home, When they didnt, 1,000 were tear gassesd
How did the incident in Washington impact Hoovers chance for re-election?
People were schocked the president would treat WWI vets that way
How did FDR handle the problems of the Great Depression?
He immediately shut down the banks the day after inaguration, created jobs, and handed out money
What was the 20th Amendment?
Moving the inaguration date to Janurary instead of March
What was the 21st Amendment?
What was a fireside chat
FDR addressed the nation over radio and encouraged people to put their money back into the bank
Immediate help- food shelter money
creating jobs and putting people back to work
fixing the system
FERA, Social Security, FHA, HOLC
CCC, TVA, PWA, CWA
FDIC, Wagner Acts, Social Security, TVA, NIRA
How did the Supreme Court react to some of the New Deal programs?
They got rid of some programs b/c they said the goverment was doing the states job
Who was Huey Long?
FDR's biggest critic
Huey Long propesed what program?
"Share our Wealth" where everyone shared all the money. Sorta socalistic
What was Eleanor Roosevelt's role in her husbands presidency?
She became an advocate of the people, encouraged him to support civil rights, pushed for womens rights, and was known for being aproachable and relatable
What was the Hindenburg?
The zepelin that exploded in 1937 that was filled w/ hydrogen
how did the new deal impact America?
-Unemployment rate fell to 14% by 1937
-Roosevelt scaled back on the New Deal
-Government went 3.5 billion dollars in debt
-Eased the pain of the Great Depression
Gives $ to unemployed/retired
federal insurance for bank accounts up to $100,000
Federal Housing Act
gives home loans
Securities and Exchange
regulates the stock market
How did the WWII Effect the Great Depression?
It created jobs and stimulated the economy, essentially ending the Great Depression
Who were the 1932 canidates for President?
FDR and Hoover
Who denied the bonus army?
Where was Huey Long from?
Put people to work to build dams and control floods
Social Security ____ provide benefits to anyone who needed them in the 1930s
Put young men to work in national parks
Roosevelt was a
Doesnt exist today