American History Great Depression Unit Review

Great Depression

Time period lasting from 1921 to 1941 in which the U.S. economy faltered and unemployment soared

Business Cycle

Periodic growth and contraction of the economy

Herbert Hoover

Served as Secretary of Commerce and later as the President of the United States from 1929 to 1933, during the Great Depression. His administrations response to the Great Depression was widely criticized for its ineffectiveness

Stock Market Speculation

Practice of making high-risk investments in hopes of obtaining large profits

Stock Market Crash (Black Tuesday)

October 29,1929, when stock prices fell sharply in the Great Crash

Hawley Smoot Tariff

Protective tax on imports enacted by Congress in 1930 in an effort to counter the nation’s slide into the Great Depression

Monetary Policy

Controlled by the Federal Reserve System, manipulates the money supply and/or interest rates.

Federal Reserve

Government branch that controls economy

Franklin Roosevelt

The GOAT president, served 4 terms, started New Deal after Hoover left office to try and help rebuild the economy. Took letters from the people alongside his wife in the fireside chat.

New Deal

The government would play an active role in providing relief, recovery, and reform from the Great Depression. Relief was immediate help for the poor who had needs of food or housing, Recovery, fix the economy in the short run and put people back to work. Reform; correct the issues with the economy and poverty that led to the Great Depression

Hooverville

Improvised houses and squatted on property they did not own like parks or vacant lots.

Bonus Army

BY 1932 the veterans wanted to get the bonus early because they needed the money. The protesters did not get their bonus and were eventually forcefully removed by the US Army in a violent confrontation that left 2 people dead. Hurt Hoover’s chances for reelection

National Recovery Administration

New Deal relief to help unemployed-Civilian Conservation Corps (CCC)

New Deal relief to help unemployed- Works Progress Administration (WPA)

New Deal Reforms to help Elderly-Social Security Act (SSA)

New Deal Reforms to ask farmers- Agricultural Adjustment Act

New Deal Reforms to help investors- Securities Exchange Commission (SEC)

New Deal Reforms to help investors- Federal Deposit Insurance Corporation (FDIC)

New Deal reforms to help laborers-National Labor Relations Act; Wagner Act (NLRA)

Frances Perkins

Black Cabinet

Indian New Deal

Welfare State

Fireside Chat