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Published byLoreen Lester Modified over 8 years ago
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You need your review a writing utensil
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Test Review
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Stock Market Speculation Bank Failures Federal Reserve policies High Tariffs
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High Unemployment Poverty Migration Overproduction of goods
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Great Depression- a decade of economic suffering in the U.S. Stock Market Crash- sudden decline in stock market; millions lost in one day High Tariffs- (Smoot-Hawley Tariff) in an effort to protect American farmers and businesses; increased taxes on imports
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Bank Failures- caused panic, many people went to the banks to get their money (bank runs)- FDIC restored confidence in banks New Deal- new government programs that tried to tackle the issues caused by the Great Depression
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Federal Reserve- purpose is to provide a supply of money and credit to the people Fiat Money- paper money Gold Standard- abandoned during the Great Depression; value of currency/money based on the value of gold
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Herbert Hoover- President when the Great Depression started (1929); believed in “Rugged Individualism” Franklin D. Roosevelt- President that created the New Deal; tried to solve the Great Depression through government programs Eleanor Roosevelt- First Lady- considered FDR’s “eyes and ears”, traveled the U.S. to see the damage of the Great Depression
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Hoovervilles- shanty towns where many homeless lived during the Great Depression FDR’s critics- Conservatives- the New Deal was doing too much (more like socialism than free enterprise/capitalism) Liberals- wanted the New Deal to go farther (ex. Share Our Wealth)
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John Steinbeck- “The Grapes of Wrath”- story about family moving far West (California) to leave the “dust bowl” Dorothea Lange- photographer who photographed the people of the Great Depression “Rugged Individualism”- “toughen up” the economy will fix itself
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New Deal- created government programs to solve economic problems (*new idea) Mexican Repatriation- attempt to send Mexican-American immigrants back to Mexico to free up jobs in the U.S. Liberty League- conservative critic of FDR’s New Deal Court-Packing- FDR’s plan to gain control of the Judicial branch to help his New Deal programs be found constitutional
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Dust Bowl- caused by over farming and severe drought, led to the migration West Hoovervilles- shanty towns in urban areas where the homeless lived
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Relief: work programs Civilians Conservation Corps(CCC) Works Progress Administration (WPA) Recovery- long term assistance Social Security Act Reform- prevention Federal Deposit Insurance Corporation (FDIC)- protects your money in the bank Securities Exchange Commission (SEC)- investigates fraud to protect investors
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