The Great Depression and the New Deal Test Review CPUSH 2024

test tomorrow :D

What happened during the Great Depression when a bank collapsed?

Depositors lost their savings.

How did the Federal Reserve contribute to the Depression?

Loaning to speculators.

Why did farmers on the Great Plains begin to lose their crops in 1932?

The soil dried up.

What was a major reason for Herbert Hoover’s landslide victory in the 1928 election?

The prosperity of the 1920s.

What do most economists believe was a key cause of the Depression?

Overproduction.

What did Roosevelt believe was the first thing to do to fight the Depression?

Restore confidence in the banks.

What did the Roosevelt administration create to regulate the stock market?

Securities and Exchange Commission.

Although they disagreed on specifics, what government action did FDR’s “brain trust” favor?

Intervention in the economy.

What did Huey Long want the government to do?

Share the wealth of the rich.

How did the Agricultural Adjustment Administration try to help farmers?

Paying them not to grow crops.

What was one main purpose of the Townsend Plan?

Free up jobs for the unemployed.

What was the period called between March 9 and June 16, 1933, when Congress passed 15 major acts to meet the economic crisis?

The Hundred Days.

What is a monetary standard in which one ounce of gold equals a set number of dollars?

Gold standard.

What was the closing of banks during the Great Depression to avoid bank runs?

Bank holidays.

What were fireside chats?

Radio broadcasts made by FDR to the American people to explain his initiatives.

Who was President during the New Deal?

Franklin Delano Roosevelt.

What was the Bonus Army?

Popular name of World War I veterans and their families who gathered in Washington, D.C., in 1932 to demand cash-payment redemption of their service certificates.

What was the National Recovery Administration?

New Deal agency established by FDR in 1933 with the goal to eliminate 'cut-throat competition' by bringing industry, labor and government together to create codes of 'fair practices' and set prices.

Why did the New Deal lead to a growth in industrial unions?

Changed the attitude of government from one of hostility to sympathy.

Explain FDR’s court packing plan.

Attempt to increase the size of the Supreme Court and then bring in several new justices who would change the balance of opinion on the Court. Roosevelt proposed to pack the Court in the 1930s, when several conservative justices were inclined to declare parts of his program, the New Deal, unconstitutional. Congress would not allow the number of justices to be increased, and Roosevelt was criticized for trying to undermine the independence of the Court.

How effective was the New Deal and what is the legacy it left?

Effectiveness: Saved/reformed capitalism, offering protection to disadvantaged; completed process of progressive reform; failed to end Depression; hindered economy’s recovery – market forces more efficient. Legacies: Built up government bureaucracy; rise of national debt; principle that federal government is responsible to help the people and manage the economy; saved American capitalism; reform without a revolution

Fair Labor Standards Act

Established a 40-hour work week for many FDIC workers.

Glass-Steagall Act

Prohibited banks from speculating on the stock market.

FDIC

Covered people’s savings in banks against loss.

Civil Works Administration

Hired workers directly, including women, to build or improve roads, airports, and playgrounds.

Social Security

Established to provide some security for older citizens.

Public Works Administration

Gave contracts to construction companies to build highways, dams, and schools.

28. Works Progress Administration

• sponsored the controversial "Federal Number One" program

• New Deal agency that helped create jobs for those that needed them

• It created around 9 million jobs working on bridges, roads, and buildings

• Civilian Conservation Corps

• gave young men jobs working in national parks and other government land

30. Securities Act

• required companies that sold stocks and bonds to provide honest and truthful information

31. National Housing Act

• subsidized loans for builders to buy blocks of slums and build low-cost housing