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US History Q4-2
Ch 24 The Great Depression
| Term | Definition |
|---|---|
| --Stock Market Crash--Stock and Real Estate Speculation | People wanted to purchase stock, but didn’t have enough money-so they took out loans-couldn’t pay them back |
| -- Stock Market Crash -- On Margin Purchases | When people buy stock with loaned money |
| Black Friday | Nickname of the Stock Market Crash |
| Cause of the Stock Market Crash | The values of stocks went down and began to level off |
| --Stock Market Crash -- Margin Call | When the banks asked their customers to pay off all of their loans-most could not repay the loans |
| --Causes of Great Depression-- Overproduction of "Durable Goods" | Products that are meant to last-like ovens, refrigerators, toilets etc |
| --Causes of Great Depression-- Rise in "Business Inventories" | Business Inventories:What is kept in storage |
| --Causes of Great Depression-- Bank Closings | No insurance for banks- so they began to close |
| --Causes of Great Depression-- WW1 | The world economy had become unstable-germany could not make reparations-Europe went into depression-US followed after |
| --Conditions in US-- "Unemployment" | Became very high-as high as 20-50% in some cities |
| --Conditions in US--"Loans" | Most were not repaid by people |
| --Conditions in US--"Sales" | Went down-people had no extra money |
| --Conditions in US--"Banks" | Were closing - no insurance |
| --Conditions in US--"Life in Cities" | 1)No Jobs Available -- 2)No Food Available -- 3)No Land available |
| "Hands off Policy" aka Laissez Faire Policy | President Herbert Hoover's policy on depression - did nothing to try to stop it |
| Trickle Down Theory | Hoover gave money to the rich hoping it would reach the poor |
| Depression Relief Agencies | Salvation Army, Good Will, YMCA & YWCA- all ran out of money |
| Bonus Army | group of WWI veterans-marched to DC to ask for help-got nothing |
| Electrion of 1932 | FDR: Roosevelt says he’ll try anything to stop the depression-so he is elected |
| The New Deal | President Franklin Roosevelt’s plan for ending the depression |
| The Brain Trust | FDR’s personal advisors-all college educated-help create the New Deal |
| The First 100 Days (FDR) | Refers to the first 100 days of a president’s term in office, FDR passed more Federal legislative bills than anyone in history of US Presidents |
| --First 100 Days (New Deal)--Fireside Chats | Nickname for FDR’s weekly radio addresses |
| --First 100 Days (New Deal)--CIvilian Conservation Corps (CCC) | Created jobs for young unemployed men working in parks and forests |
| --First 100 Days (New Deal)--Civil Works Administration (CWA) | Created jobs for unemployed men to build city buildings (libraries, schools etc.) |
| --First 100 Days (New Deal)--Federal Emergency Relief Act (FERA) | Gov’t actually gave money to states to give directly to the poor |
| --First 100 Days (New Deal)--Tennessee Valley Authority Act (TVA) | The gov’t gave money to states in the lower Mississippi valley to build dams-created new farm lands and hydroelectric power |
| --Helping the Banks -- Federal Deposit Insurance Company: (FDIC) | Gov’t provided insurance for banks’ savings accounts |
| -- 2nd New Deal-- The Works Progress Administration(WPA): | Gov’t created more jobs doing construction projects |
| -- 2nd New Deal--Wagner Act | Created the National Labor Relations Board |
| -- 2nd New Deal--National Labor Relations Act | Protected union workers-said they could not be fired or paid less |
| -- 2nd New Deal--Social Security Act | Created a mandatory retirement plan and unemployment $ |
| Deficit Spending (and Importance of) | When the gov’t spends money it does not have-borrow from themselves or other countries (Importance:Created US' first national debt) |
| American Federation of Labor (AFL) | :Labor union for only skilled workers |
| Congress of Industrial Organizations (CIO) | Labor union for all industrial employees (skilled and unskilled) |
| AFL-CIO Unity | Joined together and became very successful-still around today(includes most major unions) |
| The Dust Bowl | What:Major drought-long time between rainfalls --- Where:Central US from Texas to the Dakotas |
| --Depression Entertainment-- Marx Brothers | Motion picture comedy group of brothers-"Duck Soup" |
| --Depression Entertainment--Walt Disney | Family entertainer-starts with comic strip-makes an animated movie-Mickey Mouse-other movies-theme parks-today |
| --Depression Entertainment--John Steinbeck | Great American writer of the depression-Grapes of Wrath and Of Mice and Men |
Created by:
rford1
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