Sosh Flashcards
What is Buying on Margin?
People bought loans from stock brokers to invest in stocks.
This practice contributed to stock market speculation.
Define Overproduction.
Mass production of an item.
This often led to surplus and falling prices.
What is Black Tuesday?
The day the stock market crashed and bank runs were abundant.
It marked the beginning of the Great Depression.
What are Bank Runs?
When people run to the bank to collect all their money.
This was a reaction to the fear of bank insolvency.
What is Unemployment?
When people don’t have jobs.
This rose significantly during the Great Depression.
What were Breadlines/Soup Kitchens?
People lined up for food at charities and churches.
These were vital sources of food during the Great Depression.
Who were the Bonus Army?
WWI veterans who wanted their pension early and protested outside the White House.
Their protest highlighted the struggles of veterans during the Depression.
What are Hoovervilles?
Towns with houses made out of scraps.
Named after President Hoover, they represented the poverty of the era.
Who was Hoover?
The president who left the people to fend for themselves.
His policies were criticized for not adequately addressing the economic crisis.
What is Rugged Individualism?
The belief that people should rely on themselves and local charities for help.
This was a philosophy of President Hoover.
Who was FDR?
Franklin Delano Roosevelt believed the government should directly help the people.
He implemented the New Deal to address the Great Depression.
What was FDR’s philosophy?
Believed the government should directly help the people.
This was a shift from previous policies.
What were Fireside Chats?
Radio broadcasts where FDR told people the problems of the nation and the solutions they had.
These chats helped to build public trust in the government.
What was the Brain Trust?
FDR’s cabinet of economists and scholars.
They advised him on economic policy during the New Deal.
What does Relief mean in the context of the New Deal?
Provide jobs.
This was aimed at immediate economic relief for the unemployed.
What does Recovery refer to in the New Deal?
Stimulate and upgrade industries.
This aimed to restore the economy to pre-Depression levels.
What does Reform mean in the New Deal?
Long-term associations to prevent another depression.
This included regulatory measures to stabilize the economy.
What was the WPA?
Works Progress Administration provided jobs.
It was a key part of FDR’s New Deal programs.
What was the AAA?
Agricultural Adjustment Act limited the amount of crops planted.
This aimed to raise crop prices by reducing supply.
What did the Social Security Act provide?
Monthly payment to the elderly.
This was a significant step in establishing a social safety net.
What was a criticism of FDR?
FDR had too much power and had lost the nation a lot of money.
Critics argued that his policies led to increased government control.
Who was Huey Long?
Wanted to share wealth and input heavy taxes on the wealthy.
He proposed a ‘Share Our Wealth’ program.
What was Court Packing?
FDR wanted to increase the number of Supreme Court judges from 9 to 15.
This was an attempt to secure support for his New Deal legislation.
Did Presidential Power increase or decrease during the New Deal?
Increased.
FDR expanded the role of the federal government in the economy.
