Unit 10: The Great Depression & New Deal

Black Tuesday

October 29, 1929; Stock Market Crash

"Okies"

name given to migrants fleeing the Dust Bowl

Bonus Army

group of WWI veterans who marched to Washington DC in 1932 to demand early pensions

Election of 1932

Hoover vs. FDR; two competing ideologies - laissez faire vs. government intervention

New Deal

the name given to FDR's massive plan for relief, recovery, and reform

Franklin Delano Roosevelt (FDR)

popular American president most remembered for the New Deal

Eleanor Roosevelt

she was FDR's eyes and ears and a strong advocate for the New Deal

Hundred Days

Roosevelt's proposals for new economic programs were quickly approved by Congress during this period

3 R's of the New Deal (3 goals)

Relief, Recovery, and Reform

Relief

New Deal programs that provided direct and indirect aid to individuals and families

Recovery

New Deal programs designed to speed economic recovery

Reform

measures designed to regulate operation of banks and the stock market to prevent another crash

Agricultural Adjustment Act,

raised farm prices ad controlled production

Tennessee Valley Authority,

aimed to control flooding and promote conservation while generating electricity for rural areas in the south

Second New Deal

in 1925 president roosevelt launched a new set of programs and reforms which were called this.

Works Progress Administration,

program of Second New Deal that employed artists and construction workers

Social Security Act

program created during Second New Deal; provides old-age and disability pensions & unemployment insurance

court packing

attempt by FDR to increase the size of the Supreme Court so judges favorable to his policies would be appointed

National Industrial Recovery Act,

called by Roosevelt "the most important and far-reaching piece of legislation ever passed in the United States."

Public Works Administration- Public Works projects

created large scale public construction projects.

Civil Works Administration

created many manual labor jobs to supply short term relief

Federal Housing Administration,

provided small loans for home construction

National Youth Administration

provided jobs to young people

Securities and Exchange Commission

regulated the sale of stocks and bonds

dust bowl

the area that included Western Kansas and Oklahoma, Northern Texas, and Eastern Colorado and New Mexico that suffered from the black blizzards

stock exchange

an organized system for buying and selling shares in corporations

great depression

a severe economic crisis that started in the late 1920's .

farm income dropped throughout the 1920's.

many small banks suffered when farmers defaulted on their loans.

some large banks collapsed after suffering huge losses from the stock market crash .

polio

paralyzed president Roosevelt

Herbert Hoover

was president during the Great Depression

Hoovervilles

Many families lived in shelters built from old boxes and formed these communities

Brain Trust

group of progressive lawyers, economists and social workers who advised Franklin D. Roosevelt

Stock Market Crash of 1929

When did many investors panic and sell their stocks. What was is called?

The Dust Bowl

severe drought and high winds in the American plains created what is know as?

Great Depression

people buying goods with credit was one cause for the _________ _____________

Social Security Act

Part of FDR's New Deal that provides monthly payments to people who cannot work because of age or disability.

Tennessee Valley Authority (TVA)

Built about 50 dams along rivers in the south to produce power and prevent flooding

drought

Long period without rain

Recovery Programs

New Deal programs to put money into the hands of people by creating jobs.

Alphabet Soup

During his presidency, Roosevelt started many New Deal programs, because of their initials, this was referred to as?

Hoovervilles (1)

Because President Herbert Hoover was blamed for the Great Depression, towns of shacks and tents called _______________ sprung up across the country.

California

An effect of the Dust Bowl was that many farmers moved, or migrated, away from the Midwest. They moved to ____________. (Where did the flee)

List at least three causes of the Great Depression.

People buying on credit, low wages, unemployment, overproduction, stock market crash

List at least three effects of the Great Depression.

failed businesses, bank failures, decreasing buying power, people lost all their money, unemployment (factories laid off workers), Hoovervilles, New Deal

How did Franklin D. Roosevelt try to help the country through the Great Depression?

Created the New Deal with programs such as the CCC, FDIC, SEC, and SSA to provide relief, recovery, and reform for the country

What part did The Dust Bowl play in the Great Depression?

Created more hardship for Americans and forced many to move to California

What are you going to get on the test?

A

Herbert Hoover

US president blamed for Depression; did "Too Little, Too Late"

speculation

making high risk investments in the stock market in hopes of getting rich quick

buying on margin

practice that contributed to inflated stock prices in the 1920s; required only 10% down payment to purchase stock

fireside chats

talks given by FDR to explain government policies in a reassuring, informative fashion

deficit spending

government spending in excess of tax revenues; done in 1930s to stimulate the economy

How did Franklin D. Roosevelt try to help the country through the Great Depression?

Created the New Deal with programs such as the CCC, FDIC, SEC, and SSA to provide relief, recovery, and reform for the country

What part did The Dust Bowl play in the Great Depression?

Created more hardship for Americans and forced many to move to California

What were the reasons for the stock market crashing

1. Stock Market Crash of 1929, 2. Bank Failures, 3. Reduction in personal spending, 4. American economic policy in Europe, 5. Drought conditions

How did Hoover respond to the stock market crash

He felt that the economy was overall doing well and would come out of it on its own without government interference- looked to "Rugged Individualism"

Why did the banks fail

They did not have enough money in the bank to repay all of their customers at once.

Reasons for the stock market crashing

stock market prices climbed in spite of goods piling up, people invested on speculation and buying on margin; when stocks hit a high point they began to fall people who bought on margin could not repay their loans

Congress of Industrial Organizations

CIO-industrywide union that included both skilled and unskilled workers

sit down strike

instead of walking off their jobs, striking workers remained idle inside the plant

no mans land

middle of nowhere, nothing around

what events led to the dust bowl

Great Plains drought, overgrazing of livestock, over plowing of fields, all destroyed the natural grasses whose roots anchored the soil

life during the dust bowl

extreme unemployment, bread lines, many people lost their homes, people living in shacks, kids had to grow up fast to help the family,

dust pneumonia

breathing in dust caused people's lungs to have problems

farming methods that changed to try and limit dust being blown around

The administration also began to educate farmers on soil conservation and anti-erosion techniques, including crop rotation, strip farming, contour plowing, terracing and other beneficial farming practices

Ogallala Aquifer

one of the world's largest aquifers; located in the Great Plains;

liberal

favors government action to bring about social and economic reform

conservative

favors fewer government controls and more individual freedom in economic matters

How did FDR change government

He increased the president's power; he proposed bills and programs for Congress to consider instead of waiting for Congress to act

Important New Deal programs still in use today

Social Security; National Labor Relations Board; Federal Deposit Insurance Corporation; Securities and Stock Exchange Commission

The event that helped to end the Depression and why

World War II;, ended unemployment- people went to work preparing for the war or actually joining the war effort