The Great Depression and the New Deal, 1929-1941

Question 0

Who didn’t share in the economic boom?

Answer 0

Farmers
African Americans
Some women
Immigrants

Question 1

Name 3 ways in which the U.S. Economy had signs of declining in 1927

Answer 1

Decline in agriculture
Unregulated credit and banking
Overproduction

Question 2

How many people lost their jobs during the Great Depression daily?

Answer 2

12000 people

Question 3

How many banks collapsed during the Great Depression?

Answer 3

5500 banks

Question 4

Why did Hoover’s policy of Volumbrism fail?

Answer 4

Because businesses failed to comply

Question 5

What was Hoover known as to the American people during the Great Depression as?

Answer 5

The “do nothing” president

Question 6

What was the Hawley-Smoot Tariff Act?

Answer 6

It raised import tariffs higher than ever before

Question 7

What was the CCC?

Answer 7

An agency which provided public work schemes for single men under 25

Question 8

What was the WPA?

Answer 8

Provided work for unemployed building hospitals, roads, schools and airports

Question 9

When did the Wall Street Crash occur?

Answer 9

24th and 29th of October 1929

Question 10

How much was lost in paper values during the Wall Street Crash?

Answer 10

$4 Billion

Question 11

What was the 24th October 1929 called?

Answer 11

“Black Thursday”

Question 12

How much was lost on “Black Thursday”?

Answer 12

$9 Billion

Question 13

What was the 29th October called?

Answer 13

“Black Tuesday”

Question 14

What happened on Black Tuesday?

Answer 14

Panic selling with 16.4 million transactions

Question 15

What was the main cause of the Wall Street Crash?

Answer 15

The buying of stock and shares went out of control. The value of shares ran higher than the actual worth of the economy. This was because many of the shares were bought on the margin.

Question 16

What does “on the margin” mean?

Answer 16

Loans for shares covering up to 75% of the purchase price

Question 17

What allowed the little regulation of the stock market?

Answer 17

The pro-business and laissez faire policies of Harding, Coolidge and Andrew Mellon

Question 18

Name 3 reasons for the stock market crash?

Answer 18

Massive losses
Collapse of credit
Crisis of confidence

Question 19

Why were massive losses responsible for the Great Depression?

Answer 19

There was little money for investment
There was a collapse in demand for goods
Bankruptcies
Rising unemployment

Question 20

Why was the collapse of credit responsible for the Great Depression?

Answer 20

There was little money for investment

Severe credit squeeze

Question 21

Why was a crisis of confidence responsible for the Great Depression?

Answer 21

People felt shocked and betrayed
There was a loss in confidence in government and “big business”
Loss of confidence in themselves

Question 22

What are three causes of the Wall Street Crash?

Answer 22

The nature of the bull market
Banking system
Loss of confidence

Question 23

What were the two policies of disarmament in the 1920s?

Answer 23

Washington Conference 1921

Kellogg-Briand Pact 1928

Question 24

What was the Kellogg-Briand Pact?

Answer 24

Renounced war as a way of settling grievances and was passed 85:1 in the senate

Question 25

What was the weakness of the Kellogg-Brian Pact?

Answer 25

There were no sanctions for those who broke it

Question 26

Who did President Harding let deal with foreign affairs?

Answer 26

His Secretary Of State, Charles Evans Hughes

Question 27

What was decided at the Washington conference?

Answer 27

That each country would reduce its tonnage of battleships | The four power treaty, which said if any other country behaved aggressively in the Pacific they would reconvene

Question 28

What was the key intention of the Washington Conference?

Answer 28

To maintain the balance of power, in response to the aggression of Japan

Question 29

What was the weakness of the Washington Conference?

Answer 29

Was binding and Harding said "no commitment to armed force"

Question 30

Why was the First New Deal introduced?

Answer 30

To combat the effects of the Great Depression

Question 31

What dos many historians suggest about the First New Deal?

Answer 31

That it was not this that led to America's economic recovery but rather the stimulus of WW2

Question 32

What are the three categories of measures of the First New Deal?

Answer 32

Reform Relief Recovery

Question 33

What were reform measures?

Answer 33

Legislation brought in to prevent a repeat of the Great Depression by reforming the banking system

Question 34

Name three reform measures

Answer 34

Securities Exchange Commission 1934 Emergency Banking Act 1933 Glass-Steagall Act 1933

Question 35

What was the Securities Exchange Commission?

Answer 35

Regulated the stock market to stop embezzlement and restrict speculation, one of the contributing factors of the Crash

Question 36

What was the Emergency Banking Act 1933?

Answer 36

Gave the treasury power to investigate all banks threatened with collapse

Question 37

What is evidence that the Emergency Banking Act worked?

Answer 37

In 1933 4000 banks collapsed while in 1934 only 61 banks collapsed

Question 38

What was the Glass-Steagall Act?

Answer 38

Separated investment banking from commercial banking and created the FDIC which insured bank deposits up to $2500

Question 39

What were relief measures?

Answer 39

Measures introduced to alleviate the worst effects of the Great Depression in the short term

Question 40

Name 3 relief measures

Answer 40

Civilian Conservation Corps Federal Emergency Relief Act Civil Works Administration

Question 41

What was the Civilian Conservation Corps?

Answer 41

March 1933: Men 17-24 worked on public lands for $30/month, employed 2.75 million men for over 10 years

Question 42

What was the limitations of the Civilian Conservation Corps?

Answer 42

Restricted to white men and $25 had to be sent home

Question 43

What was the Federal Emergency Relief Act?

Answer 43

May 1933: $500 million provided to states for unemployment of which 1/2 was for outright relief

Question 44

What was the limitations of the Federal Emergency Relief Act?

Answer 44

Provided a quarter of what families really needed to live on