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U.S. History

Great Depression

Living on credit Many people had over extended themselves. When it came time to pay off loans they can't. Plus they are not buying new products.
Buying on speculation Bought stocks on the chance that they might make a quick profit, not really on the basis of the product.
Buying on margins Paying a small percent of the stocks price as a down payment and borrowing the rest.
Direct relief Aid from the government for the poor.
National Credit Corporation Loaned money to smaller banks so they wouldn't go bankrupt.
Three goals of the new deal Relief, reform, and recovery.
Works Progress Administration Gave five billion to create work projects (repair roads,build schools,build libraries, build hospitals, make clothing for the needy).
National Youth Administration Gave part time jobs to high school and college students.
What is the National Labor Relations Act also known as? Wagner Act.
Wagner Act Gave workers the right to join unions. Set a minimum wage. Set maximum workweek. Banned factory labor for workers under sixteen years old.
Social Security System Gave a supplement retirement plan for retirees sixty five and older. Unemployment compensation. Aid to families with dependent children and disabled.
Who was the first women appointed to a cabinet position? Francis Perkins.
Who helped organize the black cabinet? Mary McLeod Bethune.
Memorial Day Massacure Steelworkers at Republic Steel were striking, police attacked, 10 people killed and dozens wounded.
Securities and Exchange Commision Continues to regulate the stock market.
Federal Deposit Insurance Corporation Continues to insure individual accounts up to $250,000.
Social Security Government assumed some of the responsibility to help retired and unemployed workers to escape poverty.
New Deal programs looked to do what with the environment? To protect the environment by planting trees, protecting natural resources, and creating a national park system.
Tennessee Valley Authority Used water to generate electricity and prevent flooding in the Tennessee Valley.
Created by: sheeba1cindy