The Great Depression, Dust Bowl and The New Deal

Causes of the Great Depression
1. tariffs and war debt policies that cut down the foreign market for American goods.
2. Stock market speculation
3. Bank Failures
4. Fed. Reserve raised interest rates to banks to curb stock market.

Effects of the Great Depression
– Many banks fail.
– Many businesses and factories fail.
– Millions of Americans are out of work.
– Many are homeless and hungry.
– Families break up and people suffer

Buying on margin
credit practice that allows people to buy stock with a down payment of a portion of the value

Black Tuesday
October 1929, day the stock market crashed, signaling the start of the Great Depression

Great Depression
worst period of economic decline in United States history, beginning in 1929-1939

Social Welfare
government provided services

soup kitchen
place where food is provided to the needy at little or no charge

public works
projects built by the government to help public

Hoovervilles
Named after “Lazzaire Faire” President, 1928-1932, who was thought to not care about the poor. Group of shacks in which homeless lived during the Great Depression

WPA
Works Progress Agency responsible for providing employment assistance directly to the poor.
Hires jobless people to build public buildings and parks.

polio
highly infectious disease that causes inflammation of the nerve cells of the brain stem and spinal cord, leading to paralysis. FDR caught this disease.

bank holiday
Presidential closing of banks four days during the Great Depression to help recover

fireside chat
radio speech given by Franklin D. Roosevelt while in office

Hundred Days
Initial 100 days of Franklin D. Roosevelt’s presidency when a lot of legislation was passed to improve economic conditions.

New Deal
program of President Franklin D. Roosevelt to end the Great Depression

Pros of Roosevelt’s New Deal
– Government has a duty to help all citizens.
– The New Deal helped the nation through the worst days of the Great Depression.
– At a time when people in other countries turned to dictators to solve problems, the New Deal saved the Nation’s democratic system.

Cons of Roosevelt’s New Deal
– Government should not interfere in business or in people’s private lives.
– New Deal spending led to increases in the national debt.
– The New Deal did not end the Great Depression.

Dust Bowl
region in the central Great Plains that was hit by a severe drought caused be misuse of land, not rotating crops and years of sustained drought in the Midwest.

civil rights
the rights due to all citizens

FDR
Franklin Delano Roosevelt, 32nd President of the United States, the President of the United States during the Depression and WWII. He instituted the New Deal. Served from 1933 to 1945, he was the only president in U.S. history to be elected to four terms

S.E.C
Securities Exchange Commission, an independent federal agency that oversees the exchange of securities to protect investors

FDIC
Federal Deposit Exchange Commission, A federal guarantee of savings bank deposits initially of up to $2500, raised to $5000 in 1934, and frequently thereafter; continues today with a limit of $100,000

PWA
Public Works Administration, one of Roosevelts New Deal programs. Put people to work building or improving public buildings like schools, post offices, etc.

AAA
Agricultural Adjustment Act, attempted to regulate agricultural production through farm subsidies ($ to decrease the amount of crops produced); ruled unconstitutional in 1936; disbanded after World War II

TVA
Tennessee Valley Aduthority, created in 1933 in order to provide navigation, flood control, electricity generation, fertilizer manufacturing, and economic development in the Tennessee Valley, a region particularly impacted by the Great Depression

Eleanor Roosevelt
First lady of the United States from 1933-1945.

CCC
Civilian Conservation Corps, Relief program that employed jobless youths in such government projects as reforestation, park maintenance, and erosion control.

Social Security Act
Launched a federal-state program of workers’ pensions, unemployment insurance, and other welfare benefits.

Fair Labor Standards Act
Banned child labor and set a national minimum wage.

Stock Market Speculation
Buying stocks for the sole purpose of reselling them once they increase in value. This led to a bubble in the prices of stocks. The bubble always bursts.

FDIC
Federal Deposit Insurance Corporation ,Government insurance of bank deposits up to $250,000.

Recovery
Support for business, banking and farms so that they can return to normal

Glass-Steagall Act
(Banking Act of 1933) – Established the FDIC, Federal Deposit Insurance Corporation and included banking reforms, some designed to control speculation. Repealed in 1999, opening the door to scandals involving banks and stock investment companies.

Deficit Spending
spending more money than the govt. receives in revenue.

Used by FDR to finance the New Deal

Huey Long
Opponent of the New Deal, “Kingfish” Rep. senator of LA; pushed “Share Our Wealth” program and make “Every Man a King’ at the expense of the wealthy; assassinated

CWA
Civil Works Administration

FHA
Federal Housing Administration, provides mortgage insurance allowing Americans to have greater access tho home loans.

Court Packing
FDRs attempt to increase the number of US Supreme Court justices from 9 to 13. Constitutional Crisis that would have shifted to “separation of powers” and “checks and balances” in the US Constitution.

John Steinbeck
American author who wrote 27 novels and “Grapes of Wrath” that depict life during The Great Depression.

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 …

Causes of the Great Depression ♦Uneven distribution of wealth ♦Stock market speculation “buying on the margin” ♦Excessive use of credit ♦Overproduction on consumer goods ♦Weak farm economy ♦Government policies ♦Global economic policies Black Tuesday ♦Stock market crash (Oct. 29, 1929) …

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 …

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 …

McNary-Haugen Bill a bill passed by Congress that called for federal price-supports for key products such as wheat and corn in which the government would buy surplus crops at guaranteed prices and sell them on the world market. However, this …

On margin Buying with a small down payment and borrowing the rest of the money Hoovervilles Shanty towns that the unemployed built in the cities during the early years of the Depression; the name given to them shows that the …

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