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The Great Depression
Terms and ideas to know about the Great Depression
| Question | Answer |
|---|---|
| What day did the stock market crash? | October 29, 1929 |
| Why did the banks start going out of business? | Runs on the banks. People lost confidence in them. |
| Who was the President that was blamed for the Depression? | Herbert Hoover |
| What were Hoovervilles? | Shanty towns built by homeless people in urban areas. They were referred to as Hoovervilles. |
| What is overproduction? | The surplus of a item that causes the price of that item to go down. |
| How did the government fight overproduction in agriculture? | The Agricultural Adjustment Act gave farmers money so that they would grow less of their crops so the price would go back up. |
| What was Franklin D. Roosevelt's plan called to get out of the Depression? | The New Deal |
| What were "Fireside Chats?" | An attempt by Franklin D. Roosevelt to ease American's minds. Night time radio talks by F.D.R. |
| What was the P.W.A.? | The Public Works Administration was put into place to give millions of jobs to Americans and boost the economy. |
| What was collective bargaining? | The negotiation between unions and business leaders to come to agreements rather than striking. |