The Great Depression Ch.18-19 Flashcards
Which New Deal program built large structures like the Hoover Dam?
Public Works Administration (PWA)
Which New Deal program insured money in banks up to 5,000
Federal Deposit Insurance Corporation (FDIC)
What are 3 reasons people got money before social security?
If they were disabled, retired, or laid off
Who were the people who marched Washington for money
The Bonus Army
What were the two reasons for the stock market crash
Over speculation and the actions by the
Federal Reserve Board
What program built dams to produce electricity in river/valley areas
Tennessee Valley Authority
What was the name of the programs Roosevelt created when he was elected in 1936?
The Second New deal
Margin buying
The act of borrowing money to help pay for stock
Who was president when depression started
Herbert Hoover
Community chest
A group of organizations that are paid by donations from wealthy people
Who ran as governor of California in 1934 and started E.P.I.C. program
Upton Sinclair
What percentage was unemployment at the height of the depression
32%
Stock Pools
A group of investors who purposely drive up the price high and then sell it to the common person
Causes of Great Depression
High tariffs/debt, Farm crisis, overproduction, unequal distribution of wealth, domino effect, stock market crash
What percentage of people when the depression controlled how much of the wealth?
1% of people controlled 15% of the wealth
What was the name of the day that the stock market completely bottomed out
Black Thursday
3 states that the dust bowl majority effected:
Kansas, Oklahoma, Texas
Franklin Roosevelt was the first to appoint a female advisor, what cabinet did she supervise?
Secretary of Labor
Where was the NY stock exchange located?
Wall Street
In the Townstead Act, at what age do people start getting $200 per month
Once over 60
At what age did Roosevelt want the court justices to have to retire
70
By 1932, how many in the US were unemployed?
12 million
What did the E.P.I.C program stand for
End poverty in California
Who ran against Herbert Hoover
Alfred E. Smith
Alfred E. Smith
Democrat, was first Roman Catholic to win major nomination but lost to Hoover
Bull market
a long peirod of rising stock prices
What economic choices caused the economy to become unstable in the 1920s?
Excessive borrowing, the limiting of export, and mass speculation
Describe two ways in which the stock market crash weakened the nation’s banks
Banks had lent millions to stock speculators and many banks invested in the stock market since they were hoping for high returns
What were two mistakes made by the FRB that helped bring the great depression
1). By keeping rates low, the board encouraged member banks to make risky loans.
2). Low interest rates led to business leaders to think the economy was expanding
Dorothea Lange
Photojournalist, showed how the great depression affected the average american
How did economic changes affected everyday life during the 1920s
Since stocks failed, businesses failed and unemployment rose
Budget deficit
When the gov. spends more than the gov. collected so then the gov. borrows money, making less available for loans
American Individualism
A book written by Hoover about why the american system of individualism was the best social, political, spiritual, and economic system.
National Credit Corporation (NCC)
Was made by Hoover to ease money shortage. They created a pool of money so banks could continue lending money to their towns
Reconstruction Finance Corporation (RFC)
Hoover requested Congress to make this. RFC would make loans to businesses, was to cautious and failed to help economy
Hunger Marches
Organized by the communist party, protested feed the hungry and tax the rich
Hoover’s theory of “rugged individualism”
That is order to keep the economy moving. the gov. should not step in to help
Huey Long
governor of Louisiana, improved schools/hospitals but built a corrupt political machine. Established the Share our Wealth idea
“Share our Wealth” idea
To minimize wealth inequality by taking money from the wealth and the gov. distributing it
Father Charles Coughlin
Wanted the gov. to take more control of the nations resources
What happened in the Schecter Poultry Corporation v. US
It was declared that the NRA was unconstitutional
What happened in the US v. Bulter
declared AAA unconstitutional since they were paying people not to plant crops
Liberty League
were conservatives and thought Roosevelt was overstepping his bounds. Were mostly those with an income of more than 100,000 per yr
Liberals
Thought Roosevelt was not doing enough
Al Smith
Was elected as NY governor 4 times and was democratic nominee for president in 1928
The Wagner Act
Guaranteed workers the right to organize unions also set up a process called binding arbitration
Binding Arbitration
Where unhappy union members took their complaints to a neutral party where they would decide on the issues
John L. Lewis
leader of United Mine Workers
Why did Roosevelt decide to introduce new legislation to fight the depression
He did this in order to give America citizens relief, financial incomes, and generate economic recovery
Explain how Social security is funded
Funded by payroll, taxes by employees, and employers
When can someone receive social security
A person can receive it once 65
