APUSHch24

Question 1

Black Tuesday

Answer 1

October 29, 1929; date of the worst stock-market crash in American history and beginning of the Great Depression.

Question 2

Dow Jones index

Answer 2

The index of stock prices that fell from its high of 381 before the crash to an ultimate low of 41 during the Great Depression.

Question 3

buying on margin

Answer 3

An option that allowed investors to purchase a stock for only a fraction of its price and borrow the rest. The investor would pay back the rest when the stock went up.

Question 4

Gross National Product

Answer 4

The total value of goods and services, including income received from abroad, produced by the residents of a country within a specific time period, usually one year. This dropped from 104 billion to 56 billion in four years during the Great Depression.

Question 5

Hawley-Smoot Tariff

Answer 5

1930 Tariff which put the highest taxes in history of foreign goods, hoping to protect American products from foreign competition. Foreign countries retaliated by placing high tariff of US goods, which reduced trade for all nations, furthing damaging their economies. FAILURE.

Question 6

Reconstruction Finance Corporation

Answer 6

Federally funded, government-owned corporation funded by Congress in 1932. Intended to prop up faltering rairoads, banks, life insurance companies, and other financial institutions. In theory, the benefits would then “trickle down” to smaller businesses and ultimately bring recovery.

Question 7

Bonus March

Answer 7

A protest movement started by American veterans. In 1924, Congress had approved the payment of a $1000 bonus to all those who has served in WW1 the money to be paid beginning in 1945. By 1932, however, many veterans were demanding that the bonus be paid immediately. They were rejected twice and they camped in front of the White House until forced out by the Army when two veterans were nearly killed in a conflict with police. Hurt Hoover’s approval ratings.

Question 8

Eleanor Roosevelt

Answer 8

FDR’s Wife and New Deal supporter. Was a great supporter of civil rights and opposed the Jim Crow laws. She also worked for birth control and better conditions for working women.

Question 9

20th Amendment

Answer 9

Fixes the dates of term commencements for Congress (January 3) and the President (January 20) to shorten the period between elction and inauguration; known as the “lame duck amendment”

Question 10

Frances Perkins

Answer 10

(born Fanny Coralie Perkins, lived April 10, 1882 - May 14, 1965) was the U.S. Secretary of Labor from 1933 to 1945, and the first woman ever appointed to the cabinet. As a loyal supporter of her friend Franklin D. Roosevelt, she helped pull the labor movement into the New Deal coalition

Question 11

fireside chats

Answer 11

The informal radio conversations Roosevelt had with the people to keep spirits up. It was a means of communicating with the people on how he would take on the depression.

Question 12

FDIC

Answer 12

Federal Deposit Insurance Corporation: federal guarantee of savings bank deposits (initially up to $2,500; raised to $5,000 in 1934; now $100,000)

Question 13

PWA

Answer 13

Public Works Administration. Part of Roosevelts New Deal programs. Put people to work building or improving public buildings like schools, post offices,etc. Directed by Secretary of the Interior Harold Ickes.

Question 14

CCC

Answer 14

Civilian Conservation Corps (1933)- Relief- Young men between the ages of 18 and 25 volunteered to be placed in camps to work on regional environmental projects, mainly west of the Mississippi; they received $30 a month, of which $25 was sent home; disbanded during World War II.

Question 15

TVA

Answer 15

The Tennessee Valley Authority federation was 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

Question 16

NRA

Answer 16

National Recovery Administration: Attempted to combat the Depression through national economic planning by establishing and administering a system of industrial codes to control production, prices, labor relations, and trade practices among leading business interests; ruled unconstitutional by the Supreme Court in 1935

Question 17

Schechter v. US

Answer 17

Supreme Court declared that the NRA was unconstitutional

Question 18

SEC

Answer 18

The Securities and Exchange Commission was created to regulate the stock market and to place strict limits on the kind of speculative practices that had led to the Wall Street crash in 1929.

Question 19

FHA

Answer 19

The Federal Housing Administration gave both the construction industry and homeowners a boost by insuring bank loans for building new houses and repairing old ones

Question 20

WPA

Answer 20

The Works Progress Administration was directed by Harry Hopkins and employed 3.4 million people at double the relief rate. Work ranged from constructing new bridges, roads, airports, and public buildings to hiring artists, writers, and actors to paint murals, write histories, and perform in plays. Included the NYA (National Youth Administration) which provided part time jobs to help young people stay in school or until they could get a job with a private employer.

Question 21

Wagner Act (National Labor Relations)

Answer 21

Replaced the NRA; guaranteed a worker’s right to join a union and a union’s right to bargain collectively, outlawed business practices unfair to labor. Created National Labor Relations Board to enforce the law and make sure workers’ rights were protected.

Question 22

Social Security Act

Answer 22

1935-created a federal insurance pregram based upon the automatic collection of taxes from employees and employers throughout people’s working careers. Those payments would then be used to make monthly payments to retired persons over the age fo 65. Workers who lost their jobs, people who were blind or disabled, and dependent children and their mothers also received benefits.

Question 23

Charles Coughlin

Answer 23

A Roman Catholic priest and a popular radio host, Coughlin was an outspoken opponent of FDR. In 1935 Coughlin formed an organization called the National Union for Social Justice with the goal of issuing an inflated currency and nationalizing all banks. His broadcasts grew increasingly anti-Semitic and Facist and eventually his superiors in the Catholic church ordered him to stop his broadcasts.

Question 24

Francis Townsend

Answer 24

A retired physician who proposed an Old Age Revolving Pension Plan to give every retiree over age 60 $200 per month (using money from a 2% federal sales tax), provided that the person spend the money each month in order to receive their next payment; the object of Towsend’s plan was to help retired workers as well as stimulate spending in order to boost production and end the Depression.

Question 25

Huey Long

Answer 25

Kingfish, A Senator from Louisiana who proposed a “Share Our Wealth” program that promised a minimum annual income of $5,000 for every American family which would be paid for by taxing the wealthy. (100% tax on 1 million dollars). Announced his canidacy for president in 1935, but was killed by an assassin.

Question 26

CIO

Answer 26

Congress of Industrial Organizations. proposed by John L. Lewis in 1932. a federation of unions that organized workers in industrial unions in the United States and Canada from 1935 to 1955. Focused on organizing unskilled workers in the automobile, steel, and southern textile industries. Extended to membership to all workers in an industry regardless of their race, sex, and skill level.

Question 27

Fair Labor Standards Act

Answer 27

1938-Established a minimum wage (40 cents an hour), a maximum workweek of 40 hours and time and a half for overtime, and child-labor restrictions on those under 16. Upheld in 1941 Supreme Court case US vs Darby Lumber Co.

Question 28

John Maynard Keynes

Answer 28

British economist who said deficit spending was acceptable because in difficult times the government needed to spend well above its tax revenues in order to initiate economic growth, “priming the pump”.

Question 29

dust bowl

Answer 29

Parts of Oklahoma, Kansas, Colorado, New Mexico, and Texas that were hit hard by dry topsoil and high winds that created blinding dust storms; this area of the Great Plains became called that because winds blew away crops and farms, and blew dust from Oklahoma to Albany, New York.

Question 30

Indian Reorganization Act

Answer 30

1934-Restored tribal ownership of lands, recognized tribal constitutions and government, and provided loans for economic development. Supported preservation of Native American culture.