Great Depression, 1929-1939 Flashcards
Who became the 31st president of the U.S. and is later blamed for the Great Depression?
Pres. Herbert Hoover (1929-1933)
What catastrophic event occurred when millions invested in the boom market and would lose their savings. This happened on Black Tuesday, October 29, 1929?
Stock Market Crash
List some causes of the stock market crash in 1929.
- Uneven distribution of income.
- Stock market speculation.
- Buying stocks on margin (credit).
- Easy availability of credit.
- Overproduction of consumer goods.
- Weak farm economy.
- LIttle government regulation.
- U.S. raised tariffs, hurt trade.
How did President Hoover initially deal with the Great Depression?
Hoover believed prosperity would soon return and hesitated to ask Congress for legislative action on the economy.
In 1930, Hoover’s first major decision to address the depression was a terrible mistake. What did he pass that made the depression worse by reducing trade for all nations?
Hawley-Smoot Tariff Act, which was a high protective tariff for U.S. businesses. Europeans retaliated with tariffs of their own.
In 1931, Hoover created this program to help farmers stabilize prices by holding surplus grain and cotton in storage. It was too little, too late.
Federal Farm Board (1931)
In 1932, Hoover created this program that was a government-owned corporation that tried to stabilize failing railroads, banks, and other businesses with emergency loans.
Reconstruction Finance Corporation (RFC)
In 1932, this event made matters worse for Pres. Hoover. Thousands of unemployed WWI veterans marched on Washington, D.C. to receive a bonus promised to them in 1945.
Bonus Army (Bonus March)
What nickname did people give shantytowns?
“Hoovervilles”
Who became the 32nd president of the United States and offered the American people a “New Deal?”
Pres. Franklin D. Roosevelt (1933-1945)
In 1933, the 20th Amendment was passed, which shortened the period between the election and inauguration. What nickname did this amendment earn?
Lame-duck Amendment (20th Amendment)
This was Roosevelt’s wife who became the most active first lady in history. She influenced F.D.R. to support minorities and the less fortunate.
Eleanor Roosevelt
What was apart of the New Deal philosophy?
Roosevelt did not have a plan for ending the depression, but he was committed to take action and willing to experiment with political solutions to address economic problems.
What were Roosevelt’s Three R’s?
- Relief for people out of work.
- Recovery for business and the economy.
- Reform of American economic institutions.
What term came from Roosevelt’s first hundred days that every president since then has also been measured in what they accomplished?
“First Hundred Days”
In 1933, this was the first act that F.D.R. did when he ordered banks to close to prevent further banks from failing and to restore confidence in good banks.
Bank Holiday (1933)
In 1933, F.D.R. assured listeners over the radio that the reopened banks were now safe. He would give many of these chats to explain to the American people what he was trying to do.
Fireside Chats
In 1933, this amendment repealed the 18th amendment. Alcohol was now legal.
21st Amendment
In 1933, F.D.R appointed this individual to became the first woman to hold a cabinet position.
Frances Perkins
In 1933, this New Deal program allowed the government to examine banks and reopen the ones that were judged to be in good health.
Emergency Banking Relief Act (1933)
In 1933, this New Deal program gave money to the states for building roads, bridges, dams, and other public works.
Public Works Administration -PWA- (1933)
In 1933, this New Deal program employed young men on projects on federal lands.
Civilian Conservation Corps -CCC- (1933)