history SG

Herbert hoover

won the 1928 election

chicken in every pot

hoovers promise

expanding economy

low taxes, high wages, easy credit

installment plans

down payment w/ monthly payment

shareholders

stockholders who owned factories who were paid in dividends

speculation

buy low and try to sell high on risky stocks

buying on margin

borrowing money

the great crash

stock prices fell, October 29, black Tuesday

bank closer

4000 banks closed in 3 years

dust bowl

drought, high winds, Midwest

rugged individualism

encouraged people to help themselves

public works

congress gave money and gave jobs

hawley

smoot tariff

tariff

tax on import

moratorium

suspension of payments

only they paid off their dept

Finland

election of 1932

hoover vs FDR and FDR won easily

fdr in government

25 years in gov’t/ promised a new deal

new deal

plan to fix the depression

polio

disease that caused you to become paralyzed but could be overcome with exercise

20th amendment

eliminated the lame duck session

song

“happy days are here again”

brain trusts

FDR advises

favored

massive spending to create jobs

3 r’s

relief, recovery, reform

fireside chats

FDR encouraged on the radio

bank holiday

FDR closes all banks

emergency banking act

president could control banking

gold standard

FDR claimed paper money is “as good as gold”

result of gold standard

caused many to looses confidence in the us Monterey system

AAA

government paid farmers not to plant crops or gaze live stock

result of aaa

increased prices for crops

NRA

controlled wages and prices

result of NRA

limited competition

FERA

gave money to state and local agencies

result of FERA

encouraged people to depend on gov’t for money

CCC

put men to work conservation projects

PWA & WPA

construction of highway,bridges,parks, etc

TVA

built dams and hydroelectric plants along TN river

result of TVA

most far reaching new deal program

21st amendment

legalized liquor

social security act

established a gov’t fund for old-age insurance

FDR and supreme court

wanted forced retirement for justice over age 70

1940 election

FDR won a 3rd term

precedent

an example for the futrue