History Quest

1 Cause of Great Depression (SM)

1 Cause of Great Depression (SM)

The stock market speculated that it was only able to rise.

2 Cause of Great Depression (A)

The agriculture became very poor, with low crop prices and low farm income.

3 Cause of Great Depression (E)

The poor got left behind, and the rich got richer, causing uneven income distribution.

4 Cause of Depression (OP)

There was overpopulation in the industry, leading to high inventions, and a decrease in production.

5 Cause of Depression (B)

The increase of borrowing turned into increasing consumer debt.

6 Cause Depression (P)

The policies created by the Government were flawed.

Black Tuesday

A major American stock crash on Oct. 29, 1929.

Crash of 1929

A major American stock market crash.

Recession

When the economy shrinks for two consecutive three month periods.

Depression

A sever downturn that lasts for years.

Hoovervilles

A shanty town built by poor people during the Great Depression.

Bonus Army

Gathering of 10,000-25,000 WW1 veterans

New Deal

a series of programs and projects instituted during the Great Depression by President Franklin D. Roosevelt that aimed to restore prosperity to Americans.

FDIC

Federal Deposit Insurance Corporation: The FDIC insured individual deposits in banks (up to $5000) to protect depositors from bank failures.

CCC

Civilian Conservation Corps: The CCC insured jobs for 3 million unmarried young men.

NRA

National Recovery Administration: Insured Immediate relief to the unemployed.

WPA

Works Progress Administration: Insured millions to be employed for useful projects.

TVA

Tennessee Valley Authority: Massive construction project in order to solve erosion problems.

SSA

Social Security Act: Provided social safety net beneath FDR’s New Deal Economy.

EBRA

Emergency Banking Relief Act: Allows the twelve Federal Reserve Banks to issue additional currency on good assets.

Annihilation

Complete destruction or obliteration.

Collaborators

A person who works jointly on an activity or project; an associate.

Oppression

Prolonged cruel or unjust treatment or control.

Tyranny

A government in which all power is in the hands of a single ruler.