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Great Depression & New Deal Flashcards

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1
Q

What event on October 29, 1929, marked the onset of the Great Depression?

A

Black Tuesday

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2
Q

Describe what happened on Black Tuesday during the Great Depression.

A

On October 29, 1929, the stock market lost 12% of its value, signaling the start of the Great Depression.

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3
Q

Why is Black Tuesday significant in the context of the Great Depression?

A

It symbolizes the dramatic failure of the stock market, precipitating widespread economic turmoil.

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4
Q

Why was buying on margin risky during the Great Depression?

A

It involved using borrowed funds to purchase stocks, magnifying losses during the market crash when the Dow fell by nearly 90%.

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5
Q

How did uneven distribution of income contribute to the Great Depression?

A

The richest 1% of Americans owned nearly 33% of the assets, exacerbating economic imbalances that led to the depression.

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6
Q

How did excessive use of credit exacerbate the Great Depression?

A

Consumer debt more than doubled from 1920 to 1930, from $3 billion to $7 billion, leading to unsustainable financial bubbles.

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7
Q

How did overproduction contribute to the Great Depression?

A

Factories and farms produced more goods than could be sold, leading to a surplus that drove down prices and profits.

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8
Q

Why were high tariffs detrimental during the Great Depression?

A

The Smoot-Hawley Tariff of 1930 raised U.S. tariffs on over 20,000 imported goods to record levels, severely reducing international trade.

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9
Q

Critique the Federal Reserve’s policies during the early Great Depression.

A

The Fed’s failure to expand the money supply contributed to a deepening of the economic crisis, with the money supply contracting by 30% from 1929 to 1933.

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10
Q

Describe the significance of the stock market crash in 1929 during the Great Depression.

A

The crash led to a loss of over $30 billion in market value, equivalent to about $430 billion today (2024), devastating the economy.

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11
Q

Describe the extent of business failures during the Great Depression.

A

Over 85,000 businesses failed between 1929 and 1933, reflecting the severe impact of the economic downturn.

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12
Q

Describe the unemployment rate during the Great Depression.

A

Unemployment soared to 25% by 1933, up from just 3% in 1929, leaving approximately one in four workers jobless.

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13
Q

How widespread were bank failures during the Great Depression?

A

Nearly 9,000 banks failed throughout the 1930s, wiping out millions of people’s savings due to lack of federal insurance.

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14
Q

ow did the Great Depression affect the Gross National Product (GNP) of the United States?

A

The GNP of the U.S. fell by almost 50% from $104 billion in 1929 to $56 billion in 1933, highlighting the economic devastation.

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15
Q

Describe the impact of the Great Depression on poverty and homelessness.

A

Poverty rates skyrocketed, and homelessness became widespread, with over 2 million people roaming the country by 1932.

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16
Q

Who was the U.S. President at the start of the Great Depression?

A

Herbert Hoover

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17
Q

Describe Herbert Hoover’s approach to the Great Depression.

A

Herbert Hoover promoted policies based on self-reliance and limited government intervention in the economy.

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18
Q

How did Herbert Hoover’s belief in self-reliance influence his response to the Great Depression?

A

Hoover believed that voluntary measures and individual initiative would be sufficient to recover from the economic crisis, avoiding direct government relief to the unemployed.

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19
Q

How did the Hawley-Smoot Tariff affect the U.S. economy during the Great Depression?

A

Enacted in 1930, it raised U.S. tariffs to historically high levels, worsening the Depression by stifling international trade.

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20
Q

Describe the purpose and impact of Hoover’s debt moratorium.

A

In 1931, Hoover proposed a one-year moratorium on international debt repayments to help stabilize the global economy, but it had limited success.

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21
Q

How did the Farm Board attempt to address the agricultural crisis during the Great Depression?

A

Created in 1929, the Farm Board aimed to stabilize prices by buying surplus grains and cotton, but it struggled to curb the agricultural economic decline.

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22
Q

What was the impact of the Reconstruction Finance Corporation during the Great Depression?

A

Established in 1932, it provided federal loans to banks, railroads, and other large businesses, but it was criticized for not doing enough for ordinary Americans.

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23
Q

Describe the events and outcome of the Bonus March.

A

In 1932, World War I veterans marched to Washington, D.C., to demand early payment of a promised bonus, but were violently dispersed by the Army, damaging Hoover’s public image.

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24
Q

Describe the phenomenon of “Hoovervilles” during the Great Depression.

A

Makeshift shantytowns named “Hoovervilles” sprung up across the U.S., symbolizing public discontent with Hoover’s handling of the economic crisis.

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25
Q

What principle of Herbert Hoover’s policies emphasized individual and community efforts to solve economic problems?

A

Self-reliance during the Hoover Administration

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26
Q

Which 1930 act, signed by Hoover, aimed to protect American jobs but ultimately worsened global trade during the Great Depression?

A

Hawley-Smoot Tariff

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27
Q

What was Hoover’s 1931 economic strategy that paused international debt repayments?

A

Debt moratorium

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28
Q

What initiative did Hoover establish to support agricultural prices by buying surplus crops?

A

Farm Board under Hoover’s Administration

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29
Q

Which corporation did Hoover establish in 1932 to provide emergency financing to banks, railroads, and other big businesses?

A

Reconstruction Finance Corporation

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30
Q

What term describes the makeshift shantytowns named derisively after President Hoover by those he was blamed for failing?

A

Hoovervilles

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31
Q

Who served as the 32nd President of the United States and led the country through the Great Depression and World War II?

A

Franklin D. Roosevelt

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32
Q

What was Franklin D. Roosevelt’s major initiative to counter the effects of the Great Depression, featuring extensive economic reforms and social programs?

A

The New Deal

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33
Q

Who was the First Lady known for her active role in civil rights and social welfare issues during the 1930s and 1940s?

A

Eleanor Roosevelt

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34
Q

How did Eleanor Roosevelt significantly influence American social policies during the Roosevelt Administration?

A

She worked extensively on expanding roles for women in the workplace and enhancing New Deal social welfare policies.

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35
Q

What comprehensive economic program introduced by Franklin D. Roosevelt aimed to address the economic devastation of the Great Depression?

A

New Deal

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36
Q

Define “New Deal” and its impact on American society.

A

A series of government programs and policies established to improve economic stability and provide public assistance during the Great Depression.

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37
Q

What was the New Deal’s three-pronged strategy summarized as “The Three R’s”?

A

Relief, Recovery, Reform

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38
Q

Explain “The Three R’s” of the New Deal and their intended impacts on the United States.

A

“Relief” for the unemployed and poor, “Recovery” of the economy to normal levels, and “Reform” of the financial system to prevent a repeat depression.

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39
Q

Who were the collection of Franklin D. Roosevelt’s top advisors, often referred to for their intellectual influence on his policies?

A

Brain Trust

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40
Q

What was the contribution of the “Brain Trust” to the development of New Deal policies?

A

Provided expert advice on economic matters and helped craft the legislation of the New Deal.

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41
Q

Who broke new ground as the first female cabinet member in U.S. history, serving as Secretary of Labor?

A

Frances Perkins

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42
Q

What key policies did Frances Perkins help to implement as part of the New Deal?

A

She championed labor rights, helped establish minimum wage and overtime laws, and played a key role in the creation of the Social Security system.

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43
Q

What does the term “Hundred Days” refer to in the context of the New Deal?

A

The first hundred days of Franklin D. Roosevelt’s presidency when an unprecedented number of reforms were passed.

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44
Q

How did the “Hundred Days Congress” contribute to the New Deal’s success?

A

They passed crucial legislation that laid the foundation for many New Deal reforms, such as banking reforms and unemployment relief.

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45
Q

What was Roosevelt’s drastic measure in March 1933 to prevent the collapse of the banking system?

A

Bank Holiday

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46
Q

How did the “Bank Holiday” help mitigate the banking crisis of the Great Depression?

A

It temporarily halted all bank operations to stop massive withdrawals and restored public confidence in the financial system.

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47
Q

What significant legislative change in 1933 ended the national prohibition of alcohol?

A

Repeal of Prohibition

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48
Q

Discuss the economic and social effects of the Repeal of Prohibition during the New Deal era.

A

The repeal allowed the government to tax alcohol, generating revenue and reducing organized crime associated with bootlegging.

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49
Q

What were the series of informal radio broadcasts by Roosevelt to explain his policies directly to the American public?

A

Fireside Chats

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50
Q

How did Roosevelt’s “Fireside Chats” influence public opinion during the New Deal?

A

They built public support for his policies, enhancing American confidence in government actions during the crisis.

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51
Q

Which New Deal agency was tasked with providing employment through large-scale public works projects?

A

Public Works Administration

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52
Q

Describe the achievements and significance of the Public Works Administration during the New Deal.

A

It created millions of jobs and completed major projects like dams, bridges, and hospitals, boosting the economy and infrastructure.

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53
Q

Who was responsible for overseeing the massive public works projects initiated under the New Deal?

A

Harold Ickes

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54
Q

Detail Harold Ickes’ contributions to the New Deal through his administrative work.

A

As the head of the Public Works Administration, he managed public construction projects that provided employment and improved national infrastructure.

55
Q

Which New Deal program was designed to provide young men with employment in environmental projects?

A

Civilian Conservation Corps

56
Q

What were the economic and environmental benefits of the Civilian Conservation Corps?

A

It provided employment to over three million men and led to significant developments in rural and wilderness areas.

57
Q

What ambitious project was created to develop the Tennessee Valley and improve the quality of life in the region?

A

Tennessee Valley Authority

58
Q

How did the Tennessee Valley Authority transform the southeastern United States?

A

It provided comprehensive flood control, electricity generation, and agricultural development, significantly boosting the region’s economy.

59
Q

What 1933 act was critical in stabilizing U.S. banks during the Great Depression?

A

Emergency Banking Relief Act

60
Q

Explain the Emergency Banking Relief Act and its role in the New Deal’s banking reforms.

A

It provided the President with the authority to regulate banking transactions and reopen solvent banks, helping to stabilize the financial sector.

61
Q

What 1933 law reformed the banking industry by separating commercial and investment banking?

A

Glass-Steagall Act

62
Q

What protections did the Glass-Steagall Act offer to ordinary bank customers?

A

It prevented banks from using depositors’ funds for risky investments, safeguarding people’s money and reducing the likelihood of bank failures.

63
Q

What federal agency was established to insure bank deposits, guaranteeing individual accounts up to a specified limit?

A

Federal Deposit Insurance Corporation

64
Q

How does the Federal Deposit Insurance Corporation protect bank depositors?

A

It insures deposits up to a certain amount, reducing the risk for individuals and helping maintain stability in the banking system.

65
Q

Which agency was formed to eliminate “cut-throat competition” by implementing industry-wide codes?

A

National Recovery Administration

66
Q

What were the goals and outcomes of the National Recovery Administration’s policies?

A

It aimed to stabilize businesses, reduce unemployment, and improve wages and working hours through industry-specific codes.

67
Q

Which 1935 Supreme Court case challenged the authority of the National Recovery Administration?

A

Schechter V. U.S.

68
Q

What was the impact of Schechter V. U.S. on New Deal legislation?

A

The ruling declared the NRA’s codes as unconstitutional, leading to a significant shift and reevaluation of New Deal strategies.

69
Q

What was established in 1934 to regulate the stock market and protect investors?

A

Securities and Exchange Commission

70
Q

Describe the role and importance of the Securities and Exchange Commission in the aftermath of the stock market crash of 1929.

A

It oversees securities transactions, enforces federal securities laws, and regulates the stock market to prevent fraud and instill investor confidence.

71
Q

What New Deal agency was responsible for stimulating the housing industry and making home loans more accessible?

A

Federal Housing Administration

72
Q

What impact did the Federal Housing Administration have on the U.S. housing market?

A

It increased home ownership by providing government-backed loans, leading to a boom in residential construction and stabilizing the housing market.

73
Q

Who was a close advisor to Franklin D. Roosevelt and key architect of the Second New Deal?

A

Harry Hopkins

74
Q

What significant role did Harry Hopkins play in the New Deal era?

A

As the head of the Works Progress Administration, Hopkins was crucial in administering large-scale public works projects to combat the Great Depression.

75
Q

What large federal agency was created in 1935 to provide jobs through public works projects?

A

Works Progress Administration (WPA)

76
Q

Describe the scope and impact of the Works Progress Administration.

A

The WPA employed millions of people and was involved in projects ranging from construction to the arts, significantly reducing unemployment during the Great Depression.

77
Q

What 1935 act was designed to protect workers’ rights to unionize and collectively bargain?

A

National Labor Relations Act

78
Q

How did the National Labor Relations Act impact American labor?

A

It guaranteed workers’ rights to organize into unions, bargain collectively, and engage in strikes, leading to a stronger labor movement.

79
Q

What landmark act was passed in 1935 to establish pensions for the elderly, unemployment insurance, and aid to dependent children?

A

Social Security Act

80
Q

Discuss the significance of the Social Security Act in American social welfare.

A

The act laid the foundation for the U.S. welfare system, providing financial security for the elderly, the unemployed, and the disabled.

81
Q

What does the term “limited welfare state” refer to in the context of the New Deal?

A

It describes the establishment of a basic level of welfare support by the federal government, as seen in programs like Social Security but still less comprehensive than in many European countries.

82
Q

Define “Modern American Liberalism” as it emerged from the New Deal.

A

A political ideology that emphasizes the role of the government in ensuring economic stability and social justice, including expanded rights for workers and welfare provisions.

83
Q

Which election saw Franklin D. Roosevelt win a landslide victory due to widespread support for his New Deal policies?

A

Election of 1936

84
Q

What were the consequences of the Election of 1936 for New Deal legislation?

A

Roosevelt’s overwhelming victory solidified his mandate to expand New Deal reforms, leading to the implementation of more ambitious programs like the Second New Deal.

85
Q

What was the “New Deal Coalition”?

A

A strong, diverse alliance of interest groups and voters that supported FDR and the Democratic Party, instrumental in maintaining Democratic dominance for decades.

86
Q

How did the New Deal Coalition influence American politics?

A

It brought together a wide range of groups, including working-class, minorities, and rural voters, significantly shaping American electoral politics and supporting New Deal policies.

87
Q

What period is referred to by the “Recession of 1937-1938”?

A

A sharp economic downturn during the Great Depression, triggered by reduced government spending and tightening of monetary policy.

88
Q

What were the economic and political impacts of the Recession of 1937-1938?

A

It caused a brief but severe return to economic decline and unemployment, leading to criticism of New Deal policies but eventually resulted in increased government spending.

89
Q

Who was the British economist whose theories influenced New Deal policies, especially during the economic downturns?

A

John Maynard Keynes

90
Q

How did John Maynard Keynes’ economic theories impact the New Deal?

A

Keynes advocated for increased government expenditures to counteract economic downturns, influencing New Deal policies to boost employment and spending during recessions.

91
Q

Who was the Catholic priest who turned into a vocal critic of Franklin D. Roosevelt’s New Deal policies?

A

Father Charles E. Coughlin

92
Q

What was the nature of Father Charles E. Coughlin’s opposition to the New Deal?

A

Initially a supporter, Coughlin became a fierce critic, arguing the New Deal was insufficient and advocating for radical economic reforms such as nationalizing banks.

93
Q

Who proposed the Old Age Revolving Pension Plan, which called for substantial government payments to the elderly?

A

Dr. Francis E. Townsend

94
Q

How did Francis E. Townsend influence social policy in the United States?

A

His advocacy for pensions for the elderly gained significant popular support, influencing the development of the Social Security Act.

95
Q

Which Louisiana politician became known for his “Share Our Wealth” program, which proposed radical wealth redistribution?

A

Huey Long

96
Q

Explain the impact of Huey Long’s “Share Our Wealth” program on New Deal politics.

A

Long’s populist proposals for wealth redistribution and minimum income guarantees pushed FDR to adopt more progressive policies in the Second New Deal.

97
Q

How did the Supreme Court challenge the New Deal in the 1930s?

A

The Supreme Court declared several New Deal measures, like the NRA and the AAA, unconstitutional, which led to significant setbacks for New Deal policies.

98
Q

What was Roosevelt’s “Reorganization Plan” and why was it controversial?

A

Known as the “court-packing plan,” it was an unsuccessful proposal by FDR to expand the Supreme Court and appoint additional justices likely to support his policies.

99
Q

What were the long-term effects of the opposition from the Supreme Court on New Deal legislation?

A

The opposition led to a major political battle that partially undermined public support for FDR but also resulted in the Supreme Court becoming more accommodating to New Deal legislation over time.

100
Q

Who was the influential labor leader who founded the Congress of Industrial Organizations (CIO)?

A

John L. Lewis

101
Q

What was John L. Lewis’ role in the labor movement during the Great Depression?

A

As head of the United Mine Workers and founder of the CIO, Lewis was instrumental in organizing mass industrial unions and increasing workers’ rights and wages.

102
Q

What major labor union was formed in 1935 that focused on industrial workers across various sectors?

A

Congress of Industrial Organizations (CIO)

103
Q

Describe the significance of the Congress of Industrial Organizations during the New Deal era.

A

The CIO was crucial in unionizing large numbers of workers in major industries, leading to significant gains in labor rights and setting the stage for modern labor relations.

104
Q

What innovative labor protest involved workers remaining in the workplace to prevent the operation of a facility?

A

Sit-down strike

105
Q

How did sit-down strikes impact labor relations in the 1930s?

A

They were highly effective in gaining workers’ rights and concessions from employers, notably during the 1936-1937 General Motors sit-down strike.

106
Q

What was the Fair Labor Standards Act of 1938, and why was it important?

A

Fair Labor Standards Act

107
Q

Explain the impact of the Fair Labor Standards Act on American workers.

A

The act established minimum wage, overtime pay, and child labor standards, significantly improving working conditions and pay across industries.

108
Q

What does “minimum wage” refer to, and when was it first implemented at the federal level in the United States?

A

Minimum wage

109
Q

Discuss the introduction and significance of the federal minimum wage.

A

Established by the Fair Labor Standards Act of 1938, the federal minimum wage aimed to ensure a basic standard of living for workers and reduce wage exploitation.

110
Q

What term describes the lasting psychological impact on those who lived through the Great Depression, characterized by frugality and economic insecurity?

A

“Depression Mentality”

111
Q

How did the “Depression Mentality” influence American behavior and attitudes economically?

A

This mentality led to conservative spending habits, a strong saving ethos, and skepticism about financial stability, persisting long after the Depression ended.

112
Q

What environmental catastrophe exacerbated the economic hardships of the Great Depression in the central U.S.?

A

Drought

113
Q

Explain the role of drought in the economic struggles during the Great Depression.

A

Severe droughts in the Midwest and Great Plains contributed to widespread crop failures, deepening the agricultural crisis and economic despair of the era.

114
Q

Describe the causes and consequences of the Dust Bowl.

A

Caused by drought and poor agricultural practices, the Dust Bowl resulted in massive dust storms that devastated the Great Plains, displacing thousands and damaging the agricultural economy.

115
Q

What challenges did “Okies” face during and after their migration from the Dust Bowl region?

A

“Okies,” derogatorily named for being predominantly from Oklahoma, faced severe discrimination and economic hardships as they migrated westward in search of work.

116
Q

How does “The Grapes of Wrath” reflect the experiences of American families during the Great Depression?

A

Steinbeck’s novel vividly depicts the struggles of a family fleeing the Dust Bowl for California, highlighting the broader social and economic challenges of the era.

117
Q

What was the impact of Marian Anderson’s 1939 concert at the Lincoln Memorial?

A

After being denied a performance venue because of her race, Anderson’s concert became a symbol of the fight against racial segregation and a significant moment in civil rights history.

118
Q

What contributions did Mary McLeod Bethune make to civil rights and education during the New Deal era?

A

As an advisor to Roosevelt and director of the Division of Negro Affairs of the NYA, Bethune worked to ensure that the New Deal included African Americans and advocated for black youth education.

119
Q

How did the Fair Employment Practices Committee address discrimination in the workplace?

A

Created in 1941, the committee aimed to prevent employment discrimination in the defense industry, marking a significant step towards civil rights in labor.

120
Q

Describe A. Philip Randolph’s impact on civil rights and labor during the New Deal era.

A

Randolph was a leading black labor leader who organized the March on Washington Movement, which pressured Roosevelt to issue an executive order banning discrimination in defense industries.

121
Q

Explain the effects of the Indian Reorganization Act on Native American communities.

A

The act reversed the Dawes Act’s assimilation policies, restored tribal ownership of lands, and encouraged tribal self-government, significantly impacting Native American sovereignty and cultural preservation.

122
Q

What mindset emerged among Americans who experienced the Great Depression, characterized by extreme frugality and economic caution?

A

“Depression Mentality”

123
Q

How did prolonged drought conditions affect the U.S. during the Great Depression?

A

The droughts, particularly in the Midwest and Great Plains, worsened economic conditions by devastating agriculture and displacing farming communities.

124
Q

What environmental disaster during the 1930s caused massive dust storms that damaged American agriculture and displaced thousands?

A

The Dust Bowl, caused by severe drought and poor farming practices, led to significant ecological and economic damage across the Great Plains.

125
Q

What mindset, characterized by frugality and cautious economic behavior, developed from the experiences of those who lived through the 1930s economic downturn?

A

“Depression Mentality”

126
Q

What condition, marked by prolonged dry weather, worsened the economic hardships during the 1930s by devastating agriculture in the Midwest and Great Plains?

A

Drought

127
Q

What term refers to the severe ecological disaster during the 1930s that caused massive dust storms and agricultural damage across the Great Plains?

A

Dust Bowl

128
Q

What nickname was given to migrants, particularly from Oklahoma, who moved westward during the 1930s to escape the poor conditions of the Dust Bowl?

A

“Okies”

129
Q

What John Steinbeck novel portrays the hardships of migrants from the Dust Bowl, capturing the social and economic struggles of the 1930s?

A

“Grapes of Wrath”

130
Q

What African American singer became a symbol of the civil rights movement after performing at the Lincoln Memorial in 1939, following a denial based on racial discrimination?

A

Marian Anderson

131
Q

Who was the influential African American advisor to President Roosevelt, advocating for the integration of African Americans into New Deal benefits and focusing on youth and education?

A

Mary McLeod Bethune

132
Q

What initiative was established by Franklin D. Roosevelt in 1941 to prevent employment discrimination in the defense industry during World War II?

A

Fair Employment Practices Committee

133
Q

Who was the African American labor leader who organized a movement that led to President Roosevelt creating a committee to ban racial discrimination in defense industry employment practices?

A

A. Philip Randolph

134
Q

What 1934 act reversed previous policies aimed at assimilating Native Americans, instead promoting their self-governance and cultural preservation?

A

Indian Reorganization Act

LFS Terminal Euro (3 decks)

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