GD and ND

Who was investing in the stock market during the Great Depression?

Many Americans, including average citizens, began investing, often buying on margin.

What caused the stock market crash?

Stock prices became inflated; when confidence dropped, panic selling occurred, worsened by buying on margin.

Why did many banks fail during the Great Depression?

Banks had invested in the stock market and, when people rushed to withdraw savings, they lacked enough cash.

What were the main causes of the Great Depression?

Stock market crash, bank failures, overproduction, unequal wealth, and high tariffs reducing world trade.

How did Hoover's approach to the economy differ from Roosevelt's?

Hoover believed in limited government help and relied on businesses, while FDR advocated for direct government action through the New Deal.

What was the unemployment rate in the 1930s?

Unemployment rose to about 25% during the Great Depression.

What characterized the 1920s economy compared to the 1930s?

The 1920s were boom years with high consumer spending and growth, while the 1930s faced economic collapse and widespread poverty.

What was significant about FDR’s First 100 Days in office?

Congress passed many laws quickly, addressing the crisis with 15 major acts, including banking reform and public works programs.

What were the goals of FDR’s New Deal?

Relief for the needy, Recovery for the economy, and Reform to prevent future crises.

What was the public’s reaction to the removal of the Bonus Army?

Public outrage ensued when Hoover ordered the removal of WWI veterans demanding early payment of bonuses.

What was the purpose of the Banking Holiday declared by FDR?

To temporarily close banks to stop runs and restore public trust.

What were Fireside Chats?

Radio addresses by FDR to explain policies to Americans in simple terms and calm public fears.

What were Hoovervilles?

Shantytowns built by homeless people during the Depression, named sarcastically after President Hoover.

Who were the 'Riders' during the Great Depression?

Young, unemployed people, often teens, who illegally hopped trains in search of work or a better life.

What was Court Packing?

FDR's proposal to add more Supreme Court justices to gain support for New Deal laws, viewed as an abuse of power.