Studied by 8 people
During this time in America, people had money to spend and invest and people began investing in stocks. What did invest in stocks raise hopes of?
Investing in stock used money in hopes of making more money.
What is a stock exchange?
A system for buying and selling stock
By 1929, 1 in 10 households had ______?
money invested in stocks
In order to buy this stock many investors would buy stock “on margin” which means _________?
They would take a loan out in order to buy this stock
In september 1926 some investors began to worry that stock prices were going to fall. So they began _______.
to sell their stocks
Those who lent money out to investors got nervous and began _____________.
Demanding that their borrowers repay their loans. In order to pay these borrowers back more people had to sell their stocks. The more people sold the less money they were worth.
In a matter of days, stock prices plummeted and investors sold millions of shares a day. What happened on October 24th?
On October 24, 13 million of shares were sold and became known as “Black Thursday”
Later in the decade, factories found they were turning out more products and good then people could buy.
Just know this fact!
We also saw automobiles and construction industries suffer and as a result what happened?
Businesses began to cut wages and lay off workers. These workers now laid off now bought fewer goods hurting the economy even more.
What was the result of all this borrowing between banks?
Small banks began to suffer when people began to default or fail to meet their loan payment.
Large banks also suffered during this time , why?
Because many of them bought stock with money that was given to them.
As a result, banks began to collapse and all the money would be ______?
Money put into those banks would be lost
In 1930 congress passed the Hawley-Smoot Tariff. A tariff is a tax on imported goods. What did this tariff do?
This tariff would raise the price of goods purchased from other countries.
As a result of the Hawley Smoot Tariff, Americans began to _______?
Buy less goods from other nations hurting other foreign economies and in turn other countries also began raising tariffs on American goods, which also hurt American businesses.
By 1932 about 25% of American workers were out of work and throughout much of the 1930s remained right around 20%.
Here’s another fact to know!
President Hoover thought that this banking crisis was temporary and so he believed that the best thing to do initially was to _________.
Wait
What were public works?
Projects such as highways, parks, and libraries meant for public use.
Soldiers who fought during WWI marched on Washington after they had not received the money that was promised to them by the government. What were these veterans called?
Bonus Army
Congress would vote against paying them the money they were owed. As a result, _______________.
2,000 of these soldiers decided to camp out in D.C.
The police would come and try to break up these gatherings, which resulted in a fight breaking out killing two people. Hoover would then respond by calling in the U.S. Army to removed.
Just another fact!!
American troops dispersed the 2,000 soldiers by _________. This incident frightened many Americans and made Hoover seem ___________.
burning the camps; This made Hoover seem out of touch with the American people.
He admired __________ his after he became president in 1900
5th cousin Theodore Roosevelt
Who in college did Franklin fall in love with?
While in college, Franklin fell in love with Theodore’s niece, Anna Eleanor Roosevelt.
In 1910, Franklin entered politics, winning a _______________.
State senate seat as a Democrat in the heavily Republican Dutchess County.
In 1913, what did President Woodrow Wilson name Roosevelt?
In 1913, President Woodrow Wilson named Roosevelt Assistant Secretary of the U.S. Navy
In 1921, FDR will get _____, which will cause him to never walk again
Polio
In 1928, FDR will run for _______and at the same time Herbert Hoover wins the presidential election
governor of NY
As governor, FDR set up what relief admin?
Temporary Emergency Relief Admin. Which was aimed to help unemployed people find jobs….would help 1 out of 10 families in NY.
By the time Roosevelt was inaugurated on , the Depression had reached desperate levels, including___. A quarter of the nation’s workforce was jobless.
March 4, 1933; 13 million unemployed
Shantytowns called _________ began to pop up all over.
Hoovervilles
In Roosevelt’s first 100 days in office, how many major bills did he push through Congress?
He pushed 15 major bills through Congress
The bills would reshape every aspect of the economy, from _____________.
Banking and industry to agriculture and social welfare(known as the alphabet agencies)
Roosevelt attacked the bank crisis first. What did he declare?
He declared a national bank holiday, which closed all banks.
First 100 Days: Emergency Banking Relief Act (EBRA)
-Expanded ________ during a banking crisis
-Gave the Federal Reserve the flexibility to_________
-FDR would give one of his famous _______ explaining to the American people what he was doing
presidential authority; issue emergency currency; Fireside Chats
Fireside Chats
Seeing the potential of mass media to communicate directly and intimately with the public, how many radio addresses would Roosevelt give?
Roosevelt would give around 30 total radio addresses from March 1933 to June 1944
The First New Deal set up agencies(alphabet agencies)such as:
The Works Progress Administration (WPA)-building gov. Buildings and roads
The Civilian Conservation Corps (CCC)-building national parks
The National Recovery Administration (NRA)-fair industry practices
Federal Deposit Insurance Corporation (FDIC)- insures money in banks
Agricultural Adjustment Administration (AAA)-boosting agriculture
Tennessee Valley Authority (TVA)-provides jobs in the Tennessee Valley
Social Security Act (SSA)- insurance against unemployment
What was the little girl who wrote Eleanor Roosevelt wanting? Why did she want it?
She wanted some of Eleanor Roosevelt’s old soiled dresses. She wanted them because she had to stay out of school because she had no books or clothes.
What were some of the hardships people faced during the Great Depression?
People could not afford food, could not afford medical care, many people lost their homes, families broke apart as the jobless took to the road in search of work, and children were sent away to fend for themselves
What kinds of things did women do at home to help save money?
Sewed more clothing, baked more bread, canned more veggies, started home businesses.
What kinds of jobs did women do to make money?
Started laundries and boardinghouses
Who was the first woman to serve in a presidential cabinet? What did she do?
Frances Perkins; Secretary of Labor
What role did Eleanor Roosevelt play in FDR’s Presidencty?
Eleanor acted as FDR’s eyes and ears. She made fact-finding trips, and she was a powerful voice for women and families in need.
What human and environmental events took place to make the Dust Bowl happen?
Human: farmers used new technology (tractors and disc plows) to clear land
Environmental: Soil dried up and blew away in Prairie windstorms. drought and storms, black blizzards
What are migrant workers?
A person who moves from place to place to find work
What percentage of African Americans were unemployed during the Great Depression in the south?
More than 50%
What group helped the African-American people fight discrimination and find their jobs?
National Association for the advancement of colored people (NAACP)
What did John Collier and the “Indian New Deal” do to help Native Americans during the Great Depression?
Halted the sale of reservation land, got jobs for $77,000 Native Americans in the Civilian Conservation Corps, Public Works Administration funds to build new reservation schools, pushed Congress to pass the Indian reorganization Act of 1934 which restored traditional tribal government and provided money to enlarge some reservations
What happened to Mexican workers that worked in the US during the Great Depression?
Many lost their jobs, politicians and labor unions demanded Mexican Americans to leave the US, face discrimination and roadblocks getting relief money or less relief money than whites, schools in the hospitals turned away Mexican americans, migrant workers tried to form labor unions local food producers and officials Crackdown on these organizations
What did Socialists and Communists promise during the Great Depression?
An end to economic and racial injustice.
What is Fascism?
A political philosophy that stresses the glory of the state over the individual and that favors dictatorship.
What were the two trends in entertainment during the Great Depression and what were they?
Escapism-light or romantic entertainment that helped people forget about their problems
Social Criticism-Portraits of the injustice and suffering of Depression-era American
How did “Soap Operas” get their name?
From the fact that many of the shows featured ads for laundry detergents.
How many people were going to the movie theater a week?
80 million people
What were two famous movies that came out during the 1930s.
Snow White and the 7 Dwarfs, The Wizard of Oz
