History 2Q Exam The Great Depression & New Deal Flashcards
In 1929, the stock market crash spelled an end to the prosperity of the 1920s. The stock market crash marked the beginning of a period of economic hard times known as the Great Depression which lasted through the 1930s. During the 1920s, Many Americans had seen how some had gotten rich by investing in the stock market. They wanted to invest, too. Stock brokers made it easier to buy stock on credit by paying as little as 10% and owing the rest. This was known as buying on margin. When the stock market started going down, those who had bought stock on margin panicked and sold their stock crashing the market. The effects of the crash spread through the economy as more and more businesses and banks failed, factories closed, and many people became unemployed. By 1930, the nation was sinking into the worst economic depression in its history. Hoover did little to help the economy or those hurt by the depression, and many Americans began to blame him for the Great Depression and not helping those in need. The shanty towns of unemployed came to be known as Hoovervilles.
In 1932, voters chose Franklin Roosevelt as President. FDR promised a new deal for Americans. In the years ahead, he tried out many programs. Together, they were called the New Deal. The New Deal was a great departure from the policies of previous Presidents. The New Deal was based on the concept that the government had a responsibility for helping those in need and getting involved in the economy. The first problem Roosevelt tackled was the banks. He declared a bank holiday closing the banks and then allowed only those in sound financial shape to reopen. To reassure the public and let them know what the government was doing to help Roosevelt gave a series of radio broadcasts known as fireside chats. The New Deal had three many goals; relief for the unemployed, recovery to get businesses and factories going again, and reform to prevent another depression.
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| 415854236 | Works Progress Administration (WPA) | Hires jobless people to build public buildings and parks. | 0 | |
| 415854237 | New Deal | program of President Franklin D. Roosevelt to end the Great Depression | 1 | |
| 415854238 | Pros of Roosevelt's New Deal | - Government has a duty to help all citizens. - The New Deal helped the nation through the worst days of the Great Depression. - At a time when people in other countries turned to dictators to solve problems, the New Deal saved the Nation's democratic system. | 2 | |
| 415854239 | Con of Roosevelt's New Deal | - Government should not interfere in business or in people's private lives. - New Deal spending led to increases in the national debt. - The New Deal did not end the Great Depression. | 3 | |
| 415854240 | FDR | Roosevelt during the Depression and WWII. He instituted the New Deal. He was the only president in U.S. history to be elected to four terms | 4 | |
| 415854242 | AAA | Agricultural Adjustment Administration: attempted to regulate agricultural production through farm subsidies; ruled unconstitutional in 1936; disbanded after World War II | 5 | |
| 415854244 | TVA | (Tennessee Valley Authority Act) Relief, Recover, and Reform. one of the most important acts that built a hyro-electric dam for a needed area. | 6 | |
| 415854245 | Civilian Conservation Corps (CCC) | imployed millions of young men to plant trees and improve the environment during the Great Depression | 7 | |
| 415854246 | Social Security | Any government system that provides monetary assistance to people with an adequate or no income | 8 | |
| 415854365 | The three R's (Relief, Recovery, Reform) | Relief, Recovery, and Reform; FRD tried to address the Great Depression | 9 | |
| 415854366 | Causes of the Great Depression | - Factories and farms produce more goods than people can buy. - Banks make loans that borrowers cannot pay back. - After the stock market crash, many businesses cannot find people who will invest in their growth. | 10 | |
| 415854494 | Effects of the Great Depression | - Many banks fail. - Many businesses and factories fail. - Millions of Americans are out of work. - Many are homeless and hungry. - Families break up and people suffer | 11 | |
| 415854496 | buying on margin | practice that allows people to buy stock with a down payment of a portion of the value | 12 | |
| 415854499 | Works Progress Administration (WPA) | Hires jobless people to build public buildings and parks. | 13 | |
| 415854500 | National Recovery Administration [NRA] | government agency set up during the Great Depression to enforce new codes designed to stabilize industry | 14 | |
| 415854501 | Dust Storm | region in the central Great Plains that was hit by a severe drought | 15 | |
| 415854503 | deficit spending | 1. spending more money than it collects in taxes (this results in government debt) | 16 | |
| 415854507 | Social Security Act | 1. gives money to retirees, the unemployed, people with disabilities, and families with dependent children | 17 | |
| 415854508 | Laissez Faire Policy | Hands off. No government intervention in business. Free market/free trade | 18 | |
| 415854509 | Hoover during the Great Depression | believed in volunteer efforts by business and little government intervention, neither helped the Depression. | 19 | |
| 415854510 | FDR during the depression | created the new deal and systems that helped boost the economy and expand the government. | 20 | |
| 415854511 | changes in government during the Great Depression and New Deal era | Federal government was greatly expanded during the Depression, making great efforts to help the local governments and its citizens throughout the new deals, social security, fdic, etc. | 21 | |
| 415854512 | How depression ended | WW2 started-European countries needed jeeps and other goods and economy increased and men went to war after Pearl Harbor which created jobs. | 22 | |
| 415854513 | Conservative Thoughts during the 1930's | Provide tax relief, loans, and encouragement ot businesses. Discourage federal aid to the poor. Instead, encourage private charities and local and state governments to organize and provide poverty relief. Balance the budget to maintain financial stability. Increase tariffs (taxes) to protect American businesses from foreign competition. | 23 | |
| 415854516 | Liberal thoughts during the 1930's | Increase taxes on the income of the wealthy. Provide direct federal relief to the poor. Make a massive federal commitment to public works to provide jobs and encourage economic growth. Provide aid to farmers in the form of loans and payments to take crops out of production until prices for agricultural goods stabilize. | 24 | |
| 415854517 | Emergency Banking Relief Act | Within one month, the government would make 100 banks go back in business | 25 | |
| 415854518 | How did Roosevelt gain support? | by using fireside chats | 26 | |
| 415854519 | Securities and Exchange Commission (SEC) | Limited fraud in the stock market | 27 | |
| 415854520 | Federal Deposit Insurance Corporation (FDIC) | Gave insurance to banks | 28 | |
| 415854521 | How did FDR try to eliminate debts? | Buying up home loans and loaning money to farmers to pay their mortgages | 29 | |
| 415854522 | Relief | Fix unemployment and poverty | 30 | |
| 415854523 | Recovery | Bring back faith in the banks and economy | 31 | |
| 415854529 | Reform | Fix the problems that caused the Great Depression | 32 | |
| 415854530 | Bank Holidays | Closing banks to stop people from taking money out | 33 | |
| 415854531 | Bank runs | People were running to banks to take their money out before the bank collapsed | 34 | |
| 415854532 | How many people were out of jobs? | 1 out of 4 | 35 | |
| 415854533 | Progressives | Government should be involves in the economy | 36 | |
| 415854535 | Teddy Roosevelt Supporters | business and government should work together to end the Depression | 37 | |
| 415854536 | Woodrow Wilson Supporters | Believed in Laissez Faire, but wanted government to break up trusts and monopolies | 38 | |
| 415854537 | What was important about FDR's 1st 100 days in office? | 15 new laws were made to fix many problems, every president since has been compared to him | 39 | |
| 415854540 | What were the 2nd 100 days? | Gave Americans security | 40 | |
| 415854542 | Agricultural Adjustment Administration | Paid farmers to not produce so much food, that way the prices would rise | 41 | |
| 415854543 | National Industrial Recovery Act | set hours, wages, and prices for workers | 42 | |
| 415854544 | What is Keynsain Economics? | spend more to fix the economy | 43 | |
| 415854545 | Federal Emergency Relief Association (FERA) | Gave money to states and towns to help with the Great Depression | 44 | |
| 415854546 | Public Works Administration (PWA) | Helped construction workers get jobs doing public projects (highways, bridges, sewers) | 45 | |
| 415854547 | Civil Works Administration (CWA) | Men and women paid by federal government to do public projects | 46 | |
| 415854548 | Father Coughlin | Demorat who didn't approve of the New Deal and used the radio to gain support for FDR | 47 | |
| 415854549 | American Liberty League | formed by conservative business leaders to oppose the new deal programs | 48 | |
| 415854550 | What is the purpose of the FDIC? | To provide insurance to the banks | 49 | |
| 415854551 | What was the SEC | Regulate the stock market | 50 | |
| 415854552 | Criticisms of the New Deal | left wing: Not enough government involvement, taxes should be places on the wealthy, government should control the banks | 51 | |
| 415854554 | Who was Huey Long? | decided that no person can have more than a few million dollars and that you have to give the rest of your money to the government | 52 | |
| 415854556 | The National Recovery Act | gave government power to place regulations on state businesses and declared unconstitutional because that was the job of congress, not the president | 53 | |
| 415854557 | The Court Packing Plan | Roosevelt's new bill stated that 1. He gets to appoint a new judge of his choosing for every judge that had reached the age of 70 and didn't retire 2. The bill would allow FDR to add 6 new judges, all liberal, who would support him | 54 | |
| 415854558 | The Roosevelt Recession | FDR's court plan was not approved by congress and he lost popularity, the supreme court did lighten up on the New Deal plan | 55 | |
| 415854559 | 1937 | Unemployment goes back up when Roosevelt cuts PWA and WPA and slows gout spending | 56 | |
| 415854560 | Efforts of First Lady Eleanor Roosevelt | fought for social reform for women and African Americans | 57 | |
| 415854561 | Was the New Deal a good deal? | Yes, because the national debt went down, the federal government became more powerful in the lives of people and businesses, people viewed the government as their protector in times of trouble | 58 | |
| 415854562 | For the first time, | the government played a role in helping the citizens | 59 | |
| 415854563 | People began to.. | expect the government to be there to help them instead of laissez Faire. | 60 | |
| 415854567 | The New Deal did not.. | end the Great Depression, but changes the role and size of the federal government (government runs the whole country, not just state) | 61 | |
| 415854568 | The Dust Bowl | Great Plains struck by a massive draught, top soil blown away and wheat became unable to grow, unable to farm, many head west to work elsewhere | 62 |
