Unit 4: Prosperity and Depression - U.S history

Harlem Renaissance

A cultural movement in the 1920s and 1930s in Harlem, New york. It was a time when black artists,writers, musicians, and thinkers celebrated African American culture and creatively.

Prohibition

Was a period in the U.S when making, selling, and transporting alcohol was illegal. It was meant to reduce crime and social problems but instead leg to bootlegging (illegal alcohol trade) and the rise of gangsters like Al Capone. Many people still drank in secret bars called speakeasies 

Flapper

new style of women; young independent women who challenged traditional gender roles, they wore short dresses, short hair, enjoyed jazz, dancing, and partying. Many however considered the new woman to be a treat to social morality. 

Ku Klux Klan

The 1920s was the “golden age” of the Ku Klux Klan. While the KKK claimed to represent "old-fashioned(traditional) values," it used modern techniques from the industrial economy to spread its influence. It continued to target African-Americans and also focused on the rising immigrant population of the cities. 

Black Wall Street Massacre

happened in 1921 in Tulsa Oklahoma. White mobs attacked the wealthy blank neighbook  “Greenwood”, which was called “black wall street” because of its successful black-owed businesses. Over 300 black residents were killed, thousands lost their homes, and the neighborhood was burned down. The attack was fueled by racism and false accusations of a black boy and are white girl. Something happened between them and she did not want to press charges but it happened anyway and attempted to cover up

Consumerism

Boom in consumerism, meaning that people were buying more goods than ever before. This was driven by; mass production, advertising, credit, and stock market investing. This excessive spending and reliance on credit led to too much debt, businesses overproducing goods that no one could afford anymore, and stock market speculation got out of control.

Scopes Trial

John T. Scopes, a high school biology teacher accused of teaching evolution in the classroom. in Dayton, Tennessee, it became a battle between science and religion in america. Tennessee had a law called the Butler Act, which made it illegal to teach evolution (the idea that humans evolved form earlier species, based on charles darwin's theory) agreed that this teaching went against the bible.

Laissez-Faire Economics

government was “hands off” and staying out of it. Contributed to the Great Depression when the economy collapsed due to lack of regulation and risky financial practices.

Speculation

A person or organization makes a risky investment in the hope of making a quick, large profit. 

• Stock market speculation - speculators bought large amounts of stocks they thought would go up and then sell them at a higher price making a quick profit. 

Margin

Small % down payment for stock/bond, then the rest on credit

Black Tuesday

10/29/29. The stock market crashed, marking the start of the great depression. 

The Dust Bowl

Huge dust storm in mid/southwest U.S (texas,oklahoma) caused by a combination of drought, strong winds, over farming, and poor farming techniques.“Okies” fled to CA and faced prejudice. It made the Great Depression worse because it ruined farms, forcing many families to leave their homes in search of work. 

New Deal

 FDR’s plan to get the U.S out of the depression. It was a series of programs and policies introduced by President Franklin D. Roosevelt in the 1930’s to help the U.S recover from the Great depression. The new deal helped millions but didn’t fully end the depression. The 3 R’s

What were the 3 R’s of the new deal?

• relief (job programs, unemployment) immediate first step 

• Recovery (banking industry, economy) fix

• Reform (change for the future

Social Security

provided financial aid to the elderly, unemployed, and disabled. passed in 1935 as part of FDR’s new deal.

Bank Holidays

Closed all banks for several days allowing them to get the help they need. During the closing the government inspected banks and only allowed financially stable ones to reopen. This helped restore trust in the banking system and prevent more bank failures. 

Fireside Chats

Were a series of radio speeches given by President Franklin D. Roosevelt during the great depression, he used them to explain government policies and reassure Americans

Herbert Hoover

 Hoover inaugurated in March,1029 and the depression started 8 months later. He did nothing to aid economy and became a scapegoat(someone that society blames for problems going on)

FDR

U.S president from 1933-1945. During the great depression he introduced the new deal and fireside chats. helped the country slowly recover from the great depression

List and describe the 8 Causes of the Great Depression

1. Overproduction in agriculture - during WWI farmers produced extra food but after the government isn’t buying it anymore causing prices to go down.

2. Overproduction in Industry - same at above, prices decrease leads to profit decrease, layoffs, people don’t have money now

3. Unsound stock market - stock market crashed on Black Tuesday 10/29/29, 16.5 million shares sold, triggers economic chaos, causing bankruptcy and savings to decrease.  

4. unsafe banks - making risky investments bi insurance

5. uneven distribution of wealth - ⅗ nations wealth aka 2% of the population

6. Global factors - starts in Germany because the war left them with no money; tariff 

7. Government policy - laissez-faire economics government was hands off 

8. Too many credit purchases - buy now pay later, buying consumer goods was really popular

How did what happened to farmers during the 1920’s foreshadow events of the Great Depression?

Overproduction during the wwi, when it ended the demand wasn’t as high so they had to lower prices which decreased their profit. Because of this some farmers went into debt and struggled to pay back loans warning sign of the larger economic collapse to come.

Why was uneven distribution of wealth bad for the economy?

Uneven wealth distribution was bad for the economy because most people didn’t have enough money to buy goods, while the wealthy couldn’t spend enough to make up for it. This led to low demand, causing businesses to cut production and lay off workers.

How were shantytowns (Hoovervilles)?

Shantytowns (Hoovervilles) called hoovervilles because people blamed hoover for the great depression, soup kitchens, and bread lines were ways people coped with extreme poverty during the Great Depression. Shantytowns were makeshift shelters for the homeless. Soup kitchens and bread lines provided free food to those who couldn’t afford to eat. These were necessary because millions lost their jobs, savings, and homes, leaving them with no other way to survive.

Why/how did minorities often experience an increase in discrimination during the Great Depression?

White workers demand priority for employment although there weren't a lot of jobs. Some minorities were forced out of jobs or deported, discrimination worsened as people competed for limited resources.

In what ways did Hoover try to use the government to relieve the Depression?

He didn’t do much to help the hoover dam in one attempt. 

How did Franklin Roosevelt change the role of the federal government during his first Hundred Days in office?

He created the new deal and 3 R’s. Passed laws to regulate banks, support workers, and create jobs. FDR greatly increased government involvement in people's lives.

Summarize the reasons why some people opposed the New Deal.

Some people opposed the new deal because they believed that it gave the government too much power, was too costly, or did not do enough to help certain groups.

List 5 New Deal Programs or agencies - which ones are still in place today?

• (SSA) Social Security Act - provided financial support for retired, disabled, and unemployed. 

• (CCC) Civilian Conservation Corps - offered jobs in environmental conservation projects 

• (WPA) WOrks progress Administration - Created jobs in public works projects like building roads and schools

• (FDIC) Federal Deposit Insurance Corporation - Insures bank deposits to protect savings 

• (SEC) Securities and Exchange Commission - Regulated the stock market to prevent fraud.