HIST 1302 Great Depression

What was 'buying on margin'?

Buying stocks with borrowed money, paying only a small percentage upfront and the rest later. It fueled 1920s speculation.

What was 'Black Thursday'?

October 24, 1929 – when stock prices plummeted and investors sold 16 million shares, triggering the stock market crash.

What was the result of the 1929 stock market crash?

Investors lost billions, banks failed, savings vanished, and panic led to economic collapse.

What were the main causes of the Great Depression?

Bank failures, reduced consumer spending, overproduction, and restrictive trade policies like the Smoot-Hawley Tariff.

What was the Smoot-Hawley Tariff (1930)?

Raised import taxes to protect U.S. businesses but caused global trade to drop and worsened the Depression.

What was unemployment like during the Depression?

By 1933, 25% of the labor force was jobless; industries like construction and automobiles were hardest hit.

How did President Hoover respond to the Depression?

Refused direct relief; created agencies like the RFC and urged voluntary efforts to stabilize the economy.

What was the Reconstruction Finance Corporation (RFC)?

A 1932 Hoover program that lent money to banks, railroads, and businesses to spur economic recovery.

What were 'Hoovervilles'?

Makeshift shantytowns of unemployed Americans who blamed Hoover for the Depression.

Who were the 'Bonus Army'?

WWI veterans who marched on Washington (1932) demanding early payment of their service bonuses; evicted by MacArthur’s troops.

What was the Dust Bowl?

Severe drought and dust storms in the Great Plains (1930–1939) that devastated farms and displaced families westward.

Who won the Election of 1932?

Franklin D. Roosevelt, who promised Americans a 'New Deal' for recovery.

What was the 20th Amendment?

Ratified in 1933; moved presidential inauguration from March 4 to January 20.

What were FDR’s 'Fireside Chats'?

Radio broadcasts where FDR spoke directly to Americans to restore confidence during the Depression.

What was the 'Hundred Days'?

The first 100 days of FDR’s presidency (March–June 1933) when he passed major New Deal legislation.

What was the Emergency Banking Act (1933)?

Closed all banks temporarily; only financially sound banks were allowed to reopen.

What was the Glass-Steagall Act (1933)?

Created the FDIC to insure bank deposits up to $5,000 and separated commercial and investment banking.

What was the Civilian Conservation Corps (CCC)?

New Deal program that employed young men in conservation, reforestation, and public works projects.

What was the Federal Emergency Relief Administration (FERA)?

Provided funds to states for direct relief and public works projects.

What was the National Industrial Recovery Act (NIRA)?

Encouraged fair competition and workers’ rights; created the NRA (Blue Eagle symbol); declared unconstitutional in 1935.

What was the Agricultural Adjustment Act (AAA)?

Paid farmers to reduce crop production to raise prices; funded by taxes on food processors.

What was the Farm Credit Act (1933)?

Protected farmers from foreclosure and provided loans for crops.

What was the Rural Electrification Administration (1935)?

Provided loans to bring electricity to rural areas; doubled electrified farms by 1941.

What was the Soil Conservation Service (1935)?

Promoted better farming techniques to prevent erosion and dust storms.

Who was Huey Long?

Louisiana senator who proposed the 'Share Our Wealth' plan; assassinated in 1935.

What was the Townsend Plan?

Proposed $200 monthly pension for seniors to stimulate the economy; inspired the Social Security Act.

Who was Father Charles Coughlin?

A radio priest who blamed the Depression on Jewish bankers and opposed FDR; supported fascist policies.

What was the Works Progress Administration (WPA)?

New Deal agency that employed millions to build infrastructure and funded arts projects.

What were the WPA Slave Narratives?

Interviews with former slaves recorded by the Federal Writers’ Project (1936–1938).

What was the Social Security Act (1935)?

Created retirement pensions, unemployment insurance, and aid to dependent children.

What was the Wagner Act (1935)?

Protected workers’ rights to unionize and engage in collective bargaining; led to labor growth.

What was FDR’s 'court-packing' plan?

Attempt to add more Supreme Court justices to favor New Deal programs; failed politically but later got results through appointments.

How did the New Deal affect African Americans?

Provided jobs but allowed segregation; Eleanor Roosevelt advocated civil rights.

Who was Mary McLeod Bethune?

African American educator who led the 'Black Cabinet' and advised FDR on racial issues.

How were Mexican Americans affected during the Depression?

Many were deported or repatriated; 500,000 left or were forced out of the U.S.

What was the Indian Reorganization Act (1934)?

Ended forced assimilation, restored tribal control of land, and revived Native traditions.

How did the New Deal affect women?

Increased employment opportunities; Frances Perkins became first female Cabinet member; women still earned less than men.

What was the Election of 1936 significance?

FDR’s landslide victory solidified the New Deal coalition (labor, minorities, immigrants, farmers).

Why did the New Deal slow after 1937?

Economic recession and opposition to court reform weakened FDR’s momentum.

What was the Nye Committee (1934–37)?

Senate investigation of WWI arms dealers; led to neutrality laws to avoid future wars.

What was the Neutrality Act of 1935?

Banned arms sales to warring nations and warned Americans against travel on their ships.

What was the Neutrality Act of 1936?

Extended earlier laws and banned loans to belligerents.

What was the Neutrality Act of 1937?

Extended restrictions to civil wars (like Spain’s) and introduced 'cash and carry' policy.

Who was Benito Mussolini?

Italian fascist leader (Il Duce); took power in 1922; invaded Ethiopia in 1935.

What is Fascism?

A totalitarian ideology where a dictator controls all aspects of life through propaganda, nationalism, and violence.

Who was Adolf Hitler?

German Nazi leader; rose to power in 1933; blamed Jews and Marxists for Germany’s troubles; wrote 'Mein Kampf'.

What was the Beer Hall Putsch?

Failed 1923 Nazi coup in Munich; Hitler imprisoned and wrote 'Mein Kampf.'

How did Hitler become Führer?

Appointed Chancellor in 1933; consolidated power after Hindenburg’s death in 1934.

Was Japan fascist?

Not exactly; described as 'ultranationalist' with militarism, emperor worship, and expansionism.

What was the Manchurian Incident (1931)?

Japan invaded Manchuria, set up puppet state 'Manchukuo'; League of Nations took no action.

What was the Stimson Doctrine (1932)?

U.S. refused to recognize territories gained by force (e.g., Japan in Manchuria).

When did Japan invade China?

1937; marked the start of the 'Pacific War' and early stage of WWII in Asia.