Chapter 13 Review Knowt

study

Stock Market Collapse

Known as Black Tuesday (October 29, 1929).

Buying on Margin

Buying stocks with borrowed money from a broker.

Farmers’ economic troubles

Farmers boosted harvests and took loans during WWI to meet high demand, but after the war they had a surplus, couldn’t repay debts, and many lost their farms.

Surplus

When more goods are produced than sold.

Stock Market impact on banks

Banks lost money investing in stocks and encouraged customers to buy stocks, causing failures.

What was the consequence of the Hawley-Smoot Tariff?

Europe retaliated, reducing global trade and worsening the economy.

Hoovervilles

Shanty towns made of tents and scrap materials.

Repatriation

Governments encouraged immigrants to return to their home countries.

US Unemployment rate

25% by 1933.

Tenant Farmer

A farmer who rents land to farm on.

Red Cross

Provided medical care, food, clothing

Salvation Army

provided soup kitchens

Dust Bowl

Caused by overproduction of crops and extreme drought in the Great Plains.

Hooverisms

slang terms from the Great Depression, named after President Herbert Hoover, that described the poverty and hardship people faced, like "Hooverville’s" (shantytowns), "Hoover blankets" (newspapers)

Localism

State and local governments provide relief

Court Packing

FDR tried to increase Supreme Court justices from 9 to 15 to support his New Deal programs.

Brain Trust

Expert advisors selected by FDR to help design New Deal policies.

Fireside Chats

FDR’s informal radio broadcasts to explain policies to the public.

Herbert Hoover’s approach

Relied on voluntary cooperation, public works projects, and local aid.

New Deal Programs

Government programs to lift the country out of the Great Depression.

FDIC (Federal Deposit Insurance Corporation)

Insured bank accounts up to $5000

AAA (Agricultural Adjustment Act)

Paid farmers to cut production and raise crop prices

TVA (Tennessee Valley Authority)

Built dams in Tennessee River valley

- Created Jobs

- Provided Cheap electricity

- Helped Flood control

CCC (Civilian Conservation Corps)

Employed young men on public works projects (approx. 2 million)

FERA (Federal Emergency Relief Act)

Gave $500 million to states for relief

WPA (Works Progress Administration)

Created jobs in Public Works, arts, and research (approx. 34,000)

Social Security Act

Pension system for retirees and the disabled

NRA (National Recovery Administration)

Established minimum wage - 25 cents (mandated)

The Indian New Deal

a program that gave Indians economic assistance and greater control over their own affairs

Indian Reorganization Act

restored tribal control over Native American land

New Deal Coalition

political force formed by diverse groups who united to support FDR and his New Deal programs.

Welfare State

Government provides for the poor, elderly, sick, disabled, and unemployed.

1930s Radio shows

Lone Ranger, The Shadow

1930s Comics

Flash Gordon, Dick Tracy, Superman