Chapters 14&15- Depression and New Deal

What were the causes of the Great Depression?
-buying on credit, tariffs& war debt, unequal distribution of income, crisis in the farm sector

-There were many causes of the Great Depression, starting with WWI, then the Spanish Flu which wiped out even more people than those lost in the war. Then in 1929, the stock market crashed. These events were in large part responsible for the Great Depression.

What was the Dust Bowl and what created it?
-Dust bowl: the region, including Texas, Oklahoma, Kansas, Colorado, and New Mexico, that was made worthless for farming by drought and dust stroms during the 1930s.
-Farmers over plowed their fields and planted too many crops and there was a huge drought so the dirt became like dust and farmers could no longer produce crops.

Define: Bonus Army
a group of WW1 veterans and their families who marched on Washington D.C., in 1932 to demand the immediate payment of a bonus they had been promised for military service.

In what ways did Hoover try to use the government to relieve the Depression?
He tried the Reconstruction Finance Corporation which provided loans to:
-banks
-insurance companies
-railroads
-other businesses

True or False: Buying stock on margin means paying less than the market price for the stock.
False

Explain how buying stock on margin led to the crash of the market.
Many Americans purchased stock on credit. This was known as margin buying. Stock brokers offered the possibility of purchasing stock on an instalment plan in which there were no installments to pay. The buyer would purchase so many shares of a company and pay a portion of the cost as a down payment. The rest of the cost would be subtracted by the Stock Broker when the buyer sold the stock to make a profit. Sometimes a bank would provide a loan to the buyer with the stock as collateral. The money the speculator owed was known as the margin. The system worked until stocks started to fall and the selling of the stock did not cover the amount owed by the speculator.

True or False: The great depression forced many people back to careers of farming.
False

Why did people begin calling their Shantytowns “Hoovervilles”?
-Because Herbert Hoover was president at the time and the Depression was blamed on him.
-Hoovervilles and Shantytowns were named after Herbert Hoover because it was Hoover’s actions that lead to their creation.

True or False: The depression induced psychological stress that caused an increase in the suicide rate.
False

True or False: Herbert Hoover’s approach to the Depression economy was based on a belief in voluntary cooperation
True

Herbert Hoover’s Reconstruction Finance Corporation
a.) did too little too late to help ease the economic downturn
b.) provided food stamps to the poor
c.) did involve a government attempt to help with the economic crisis
d.) both A and C
A

What was the unemployment rate during the Great Depression?
1 out of 4 whites and 1 out of 2 African Americans(25%)

True or False: Tariffs on foreign imports were lowered during the Great Depression.
False

Explain how tariffs impacted the economy during the Great Depression.

True or False: Roosevelt first action addressing the depression was to close all of the nation’s banks and order inspections calling this a “Bank Holiday.”
True

What New Deal program will be established to address the above crisis?
-The new deal was aimed at the man at the bottom of the economic ladder
-Three R’s-New Deal Goals
-Relief: help people with money, jobs, and housing
-Recovery: lift the nation out of the depression
-Reform: take steps by using government power to reduce economic abuses that led to depression

Circle 3 goals of the New Deal.
Aregulate the stock market through the securities and exchange commission
b. provide total government control of the agricultural industry
C help the man at the bottom of the economic ladder
D provide Bank regulation

Explain the Social Security Act
a law enacted in 1935 to provide aid to retirees, the unemployed, people with disanilities, and families with dependent children

Explain the Emergency Banking Relief Act
-Authorized the Treasury Department to inspect and close banks
-To restore public confidence in banks
-Assisted Banks and depositors(the people)

Explain the National Industrial Recovery Act
a law enacted in 1933 to establish codes of fair practice for industries and to promote industrial growth
-provided money to states t create jobs cheifly in the construction of commmunity buildings
-to provide jobs to unemployed citizens

True or False: Roosevelt’s attempt to Re-organize the Supreme Court was successful.
False

Explain Roosevelt’s plan for Supreme Court restructuring.
Roosevelt’s effort to reorganize the Supreme Court so that it would act more favorably on his New Deal programs failed in Congress and weakened the president’s position with Congress. Senators and Representatives that had reluctantly supported FDR’s programs before now felt free to oppose them.

Which of the following is not a reason that the Tennessee River Valley was chosen for the developement of many dams?
a.) there are many rivers in the region
b.) residents of the area would benefit from electricity generated by dams
c.) the area had a history of dangerous flooding
d.) the area needed lakes to provide fish to feed its residents
D

Which New Deal program was established to help the unemployed, the aged and the ill?
social security act

Which New Deal program was aimed at helping the environmental issues and provided jobs to young men?
Civilian Conservation Corp (CCC) (1933)

What was the role of Federal Emergency Relief Administration?
-to help furnish food and clothing to the unemployed, aged, and the ill
-provided for the needy
-funded $500 Million
– meaningful work that enabled them to gain confidence and self- respect

Herbert Hoover President when the stock market crashed – Believed in little government interference – he was unpopular with the public and some blamed him for the Depression Franklin Roosevelt Became President in 1933 – Developed the New Deal – …

recession The state of the economy declines. This is a cause of the Great Depression because made everyone have less money depression A long-term economic state characterized by unemployment and low prices and low levels of trade and investment. This …

Roaring Economy to Great Depression It made the economy weaker. What effect did the use of credit have on the economy in the 1920s? WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR YOU FOR ONLY $13.90/PAGE …

The conservative response A response that is more traditional. During the great depression, they were self reliant. They accept change, but only in moderation. They opposed large governmental efforts The liberal response Had focused on protecting individual liberty from government. …

Works Progress Administration (WPA) Hires jobless people to build public buildings and parks. New Deal program of President Franklin D. Roosevelt to end the Great Depression WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR YOU FOR …

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