 Define  Hundred Days  New Deal  Tennessee Valley Authority  Agricultural Adjustment Act  FDIC

 Stock Market booming  “Get rich quick”  Buy a stock on margin (for a percentage) the rest was lent from the bank

 October 24 th 1929  Black Thursday  Everyone started selling  October 29 th 1929  Stock market officially crashes  More than 16 millions shares are sold  America slides into the “Great Depression”

 1920’s was fueled by borrowed money  Credit bought people stock, cars, houses, ect…  People now can’t pay loans back to bank  default on loans, fail to pay back  bank has no money, people loose money in the bank  BANK RUN 

 List and EXPLAIN at least two factors that lead to the great depression.  EXPLAIN BOTH FACTORS!

 U.S. didn’t lend money (enough) to foreign countries during the 1920’s  Problem  Foreign countries with less money, purchase less American goods  Hawley-Smoot Tariff  Tax on imported goods  Foreign products cost more money  Foreign response  Tariff USA

 1932  Unemployment hits 25%  Comparatively, today it is at 8-10%.  Most people who worked, got wages cut or worked only part-time  Attempts to make money  Sell apples  Shine shoes  Soup lines become popular

 Public works projects  Build highways, parks, and libraries  Goal was to create jobs  Creates the RFC  Reconstruction Finance Corporation  Idea was to lend money to local businesses and state governments