Franklin D. Roosevelt Flashcards
Who did Roosevelt defeat in the 1932 election?
Herbert Hoover
How many elections did FDR win?
4
Who was FDR’s vice president?
Harry S. Truman
When did Harry S. Truman become president?
April 1945 (during WW2)
Why were businesses laying off workers towards the end of the 1920’s in America?
the demand for goods was decreasing
Give a reason why sales of consumer goods were falling in America?
profits weren’t passed on to workers
Give a reason why the cost of living was increasing in America?
wages were falling
Why was the amount of share speculation risky for the US economy?
there wasn’t enough money being spent of goods
Define share speculation
the act of buying something hoping that the value will increase and then selling at a higher price in order to make a profit
What happened on black Tuesday?
the stock market collapsed
How much money in total did investors lose on black Tuesday?
$14,000,000,000 (14 billion USD)
When was black Tuesday?
October 29th 1929
Why did the events of black Tuesday lea to a domestic economic disaster?
- banks collapsed
- businesses collapsed
- people lost trust in the banks
Why did the events of black Tuesday lead to a global economic disaster?
the USA recalled foreign loans to help pay off debts
How much did unemployment rise during the great depression?
3 million - 12 million
What was Roosevelts famous quote design to reassure American citizens?
“had nothing to fear but fear itself”
What were the measures that FDR took to alleviate problems called?
New Deals
Name 2 things that the First New Deal did to help the American economy?
- regulated stock markets
- decreased the value of the dollar
- gave loans to struggling farmers and homeowner
What were ‘alphabet agencies’?
- created by the first new deal
- aimed to give work to young men (18-25)
- developed a national and state park system
- work involved building roads, felling trees, ect …
What did the wagner act of 1935 do?
confirmed the right of trade unions to collectively bargain wages
How did the 1935 social security act help unemployment?
gave the unemployed $18 per week for 16 weeks
How did the 1935 Revenue Act help pay for Roosevelts new deels?
increased the top level of tax from 63% to 79%
How did the 1938 Fair Labour Standards Act help ordinary workers?
- introduced a minimum wage of 40 cents per hour
- created a maximum wiring week of 40 hours
Why was 1941 an important year in recovery from the effects of the depression?
- 1/2 unemployment
- wages doubled
