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The Great Depression

Terms and ideas to know about the Great Depression

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.
Created by: Rmartinez21