ROARING 20's Flashcards
“Black Tuesday”
The day the stock market collapsed
2 big issues that hurt GA Farmers
- Drought
2 Bull weevil (bug that ate cotton)
Contributing factors of the Great Depression
- stock market crash
- credit card use
- government did not skip in to help
- people lost jobs
- banks closed
- businesses failed
Great Depression
1929-1940’s
Why did Georgia barely notice the Great Depression?
Because GA was already in a depression
Who was blamed for the depression?
President Hoover ( he believed the government should not interfere in the economy)
“Laissez faire”
Give a little help
FDR
Democratic President in 1932. Promised Americans a “new deal” and had a GA connection
“New deal” laws
Created jobs, helped farmers and regulated banks and businesses
CCC
Civilian conservation corps
- gave construction jobs to young single men to work on state parks, airports, etc…
AAA
Agricultural Administration Act
- helps farmers by giving them cheap loans and paying them subsidies to not grow so much
REA
Rural Electrification Act
- gave cheap loans to electric companies to bring electricity to farms
SSA
Social Security Act
- retirement payments to old folks and elders in need
FDIC
Federal Deposit Insurance Company
- the federal government and bank deposits
Everybody loved the new deal except…
GA governor Eugene Talmage
- racist but, popular in rural counties. He was elected by unit vote