Great Depression and New Deal Overview

Stock Market Crash

Black Tuesday, Oct. 29, 1929; major financial collapse.

Buying Stocks on Margin

Purchasing stocks with borrowed money, increasing risk.

Overproduction

Excess production led to falling prices and unsold goods.

Bank Failures

Banks collapsed due to excessive lending and withdrawals.

Bank Runs

Mass withdrawals causing banks to become insolvent.

Unequal Wealth Distribution

Wealth gap; rich prospered while poor suffered.

Hawley-Smoot Tariff

1930 tariff that restricted international trade.

Mass Unemployment

25% unemployment rate during the Great Depression.

Hoovervilles

Shantytowns named after President Hoover, symbolizing blame.

Reconstruction Finance Corporation

Provided loans to banks and businesses for recovery.

Public Works Projects

Government-funded construction jobs to reduce unemployment.

Rugged Individualism

Hoover's belief in self-reliance during economic hardship.

Bonus Army

WWI veterans demanding early bonuses, forcibly removed.

Franklin D. Roosevelt

Elected in 1932; initiated the New Deal.

Brain Trust

Group of expert advisors to FDR.

Fireside Chats

Radio addresses by FDR to comfort Americans.

The New Deal

FDR's plan focusing on Relief, Recovery, Reform.

Civilian Conservation Corps

Jobs for young men in environmental projects.

Tennessee Valley Authority

Developed dams for electricity in the South.

Agricultural Adjustment Act

Reduced farm output to increase prices.

Federal Deposit Insurance Corporation

Insured bank deposits to protect consumers.

Securities and Exchange Commission

Regulated the stock market to prevent fraud.

Dust Bowl

Severe drought in Great Plains causing mass migration.

Black Sunday

Worst dust storm of the Dust Bowl era.

Depression-Era Culture

Artistic expressions reflecting struggles of the time.

Impact of the New Deal

Expanded government role in economy and welfare.

Social Security

Established to provide financial support for the elderly.

WWII's Role

World War II ended the Great Depression.