Chapter 10: The Great Depression Flashcards
Authority is a word that means what?
Power or the right to rule
Critics who thought the New Deal went too far claimed what?
That the new laws gave too much authority.
Businesses were hurt by the stock market crash because what?
They lost their savings in failed banks and had to close or cut back.
Who suffered the most in the Dust Bowl?
Farmers
How did President Roosevelt get Americans to restore faith in banks? Why did it restore faith?
After he signed the Emergency Banking Relief Act into law because the law allowed only healthy banks to remain open, so people had confidence in banks that passed the act’s requirements.
In what year did Herbert Hoover lose the election? Why?
1932 because Americans lost confidence in him and blamed him for the Depression.
Why is the Tennessee Valley Authority (TVA) significant?
It hired people to build dams and generators that provided electricity.
Why did President Roosevelt have problems with the Supreme Court?
The court issued a series of rulings declaring many New Deal Programs unconstitutional.
What is a lasting effect of the New Deal that is still in place today?
The protection of the savings of bank customers
What is the full date of when the stock market crashed? What is the day historically known as?
October 29,1929 (known as Black Tuesday)
Who would’ve been the most hurt by the stock market crash?
People who invested money just before Black Tuesday. Mainly those who invested in September and early October of 1929.
The people who couldn’t afford to buy stocks at full price bought on margin. What does buying on margin mean?
Buying on margin means they bought stock on credits with loans.
Who wrote “The Grapes of Wrath”? What was the story about?
John Steinbeck. The story was about a family of farmers forced to move in search of work.
How much did Herbert Hoover authorize to different financial institutions in the first year of the Depression? What did he refuse to do?
He authorized $1.2 billion in the first year of the Depression, but he refused to give direct financial assistance to individual citizens.
What two things were planted in Dust Bowl areas to try to stop soil erosion?
Grass and trees