Da Greatest Depression Flashcards
What does ‘speculated’ mean in the context of the stock market?
They bought stocks hoping to ‘get rich quick’
Speculation involves high risk with the potential for significant financial gain.
What is ‘buying on margin’?
Stocks could be purchased for a 10% down payment
This practice increases both potential profit and risk of loss.
What is a tariff?
A tax on imported goods
Tariffs are often used to protect domestic industries.
What significant event occurred on October 29, 1929?
Black Tuesday, the stock market crashed
This event marked the beginning of the Great Depression.
What are bank runs?
People panicked and took their money out of the banks
Bank runs can lead to bank failures and further economic instability.
Who was Dorthea Lange?
She took pictures of the effect the Dust Bowl and the Great Depression had on the American people
Her work highlighted the struggles of displaced families.
What was the Mexican Repatriation Act?
Forced a half million Mexican-Americans to be ‘repatriated’ or sent back to Mexico
This act was part of a broader trend of xenophobia during the Great Depression.
What are Hoovervilles?
Shantytowns named after Pres. Hoover (and meant as an insult)
They symbolized the failure of the government to address the needs of the poor.
What was the Reconstruction Finance Corp?
Hoover gave emergency loans to banks and businesses hoping to increase business
This was part of Hoover’s efforts to alleviate the economic crisis.
What was the New Deal?
FDR’s plan to end the depression and put the American people back to work
The New Deal included various programs aimed at economic recovery.
What are Alphabet Soup Laws?
Gov’t programs to provide relief for the unemployed
These programs included initiatives like the CCC and WPA.
What does TVA stand for?
Tennessee Valley Authority
TVA was created to provide electricity and economic development in the Tennessee Valley.
What did the Civilian Conservation Corps (CCC) do?
Gave young men jobs planting trees, cleaning up parks, etc.
The CCC aimed to provide employment while fostering environmental conservation.
What was the purpose of the Works Progress Administration (WPA)?
Created jobs for artists, writers, and musicians to create murals, plays, etc.
The WPA was crucial for cultural preservation during the Great Depression.
