Ch.22-23 Flashcards
Causes of the Great Depression
Lack of Diversificaiton mal-distribution of purchasing power-overproduction of goods credit structure of the economy Americas position in international trade International debt
Election of 1928
Rep: Herbert Hoover
Dem: Alfred E Smith
Election of 1932
Hoover lost (59) FD Roosevelt (472)
Election of 1936
FDR (D) Alf Landon (R)
the stock prices of 30 representative large firms trading on the New York Stock Exchange
Dow Jones Industrial Average
Paying a small percentage of a stocks price as a down payment and borrowing the rest
Buying on margin
Black tuesday
October 29, 1929: The bottom fell out of the market
Run on the bank
everyone trying to withdraw their cash due to fear
ppl who live in oklahoma
oakies
sprung up around railroad yars
hobo amps
Midterm Elections of 1930
Democrats win control of the house
the republican majority shrunk to one vote in the senate
The american people focused their frustration on pres hoover
authorized 2 bil dollars for emergency financing to banks, life insurance companies, railroads
Reconstruction Finance Corporation
The Bonus Army
Soldier had served in WWI
It was to be paid in 1945
the avg bonus to be 500 in cash or life insurance
The new deal
he had promised a new deal for the american peoples. Get america back in business
Authorized the treasury department to insect country banks
sound banks could reopen
Emergency banking relief act
Radio talks on important issues
fireside chats
Reorganized the banking system
Provided insurance to individual bank accounts up to 5000
Glass-Steagall Act- FDIC
Creates the US securities and exchange commission
Required corporations to provide complete info about their stock exchange
Federal Securities act-SEC
Creates the US securities and exchange commission
Required corporations to provide complete info about their stock exchange
Federal Securities act-SEC
Ended the prohibition act
21st
Raise the prices by lowering production
Agricultural Adjustment Act
Debate over a dam at Muscle shoals, alabama
Completion had been blocked after the war by local utility companies
TVA; Tennesse Valley Authority
Put young men ages 18-25 to work build roads, planting trees etc
CCC: Civilian Conservation Corps
Provided 4 mil immediate jobs during the winter of 33-34
CWA: Civil Works Admin