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Great Depression

Am. History

What was the New Deal? FDR's plan to end the Great Depression
What was the Bonus Army? Group of WWI vets that marched on Washington to try to get the money that was owed to them from WWI.
What was Bank Holiday? FDR closed the banks for 4 days so they could get their accounts in order and gain the trust of the American people
What was the 21st Amendment? It got rid of prohibition
What happened during the 1st 100 days that FDR was in office? 15 laws were passed to try to help the American people
What was rugged individualism? Hoover's belief that people can make a good life for themselves through hard work.
What was the 20th amendment? Moved the inauguration day for the president from March to January.
What were fireside chats? Speeches given by FDR over the radio that addressed the concerns of the American people and the New Deal programs
Why did the stock market crash? People had been aggressively buying stocks, they then panicked and sold all of their stocks at once which made the stocks worth less than what they had paid for them.
What was Buying on Margin? When people borrowed money to buy stocks
How did President Hoover want to solve the Depression? People to volunteer and donate money to charities
How did FDR want to solve the Depression? Get the government more involved by passing laws to directly help the American people
What were the causes of the Great Depression? Farmers had overproduced, stock market crashed, banks closed, businesses closed and people lost jobs, people had bought on credit and couldn't repay loans
Which group lost their jobs first? African Americans
How did the role of the government change when FDR became president? The federal government grew and became more involved in people's lives.
What was the problem with people buying on credit? They didn't have the money to pay off their debt if something happened to them
What was the Brain Trust? A group of advisers to FDR- lawyers and professors that tried to come up with ideas to end the Depression.
What was the big difference between FDR and Hoover? FDR wanted the government to have more involvement
What were some of the causes of the Dust Bowl? Drought, strong winds, soil erosion, and poor farming methods
Why were farmers already struggling before the Great Depression? They had overproduced and couldn't sell their crops
What was the Promised Land? California
Why did people create the nickname Hoovervilles? They blamed Hoover for the problems they were having.
What was trickle down economics? The belief that if the banks and large businesses are given more money then the money will trickle down to the workers.
What did the Great Depression lead to? A worldwide depression
What was the WPA- Works Progress Administration? A government program that provided jobs to people to build and improve roads
What was the FDIC- Federal Deposit Insurance Corporation? Insured that the money you deposited into the bank would be safe.
What was the National Labor Relations Act or Wagner Act? Allowed employees to join labor unions so the unions could fight for better rights (wages, hours, etc..)
What was the Social Security Act? Provided a pension system and insurance for people that retired, established unemployment insurance, gave support to the elderly and disabled.
What did people learn from the Great Depression? To save money and only buy what they could afford
What was buying on credit? An agreement in which consumers agreed to buy now and pay later
Why did the banks close? They didn't have the money to give back to the people, they had loaned it out and people couldn't repay.
What did the Securities and Exchange Commission (SEC) do? Regulated the stock market
Why did people elect FDR as President? They wanted the government to get more involved and take more responsibility
Created by: Ensmingern