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U.S. History: Great Depression & New Deal Review

Explore key events, figures, and programs of the Great Depression era and FDR's New Deal in US history, including stock market crashes, government initiatives, and lasting impacts on society and economy.

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U.S. History: Great Depression & New Deal Review

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  1. U.S. History March 22nd, 2012 Review

  2. ___1.bull market • ___2.buying on margin • ___3.bear market • ___4.Black Thursday • ___5.Black Tuesday • ___6.Great Depression • A. market with falling stock prices • B. market with rising stock prices • C. economic downturn • D. buying stocks on credit • E. day on which the stock market lost $9 billion by noon • F. day on which the stock market collapsed

  3. TRUE/FALSE • Banks were not hurt by the Great Depression because they had not invested in stocks. ____ • Without funds, many businesses could not keep operating and closed down. ____ • President Hoover agreed to the demands of the ‘Bonus Army.’ ____ • President Hoover believed that the government had a responsibility to provide relief. ____

  4. TRUE/FALSE • Most Americans felt that President Hoover could solve the depression. ____ • President Hoover failed to recognize how serious the depression was. ____

  5. NOTES Review

  6. New Deal: Name given to all of FDR’s programs • Bank Holiday: temporarily closed all banks until they were stable – financially sound • Hundred Days: congress passed 15 major acts to help economic crisis • Fireside Chats: direct talks FDR held with the American people (on the radio) • Securities and Exchange Commission (SEC): regulate stock market and prevent fraud • FDIC: government insurance for bank deposits (1933 -- $2500…. 2012 -- $250,000) • AAA: pay farmers not to raise certain livestock or not to grow certain crops

  7. CCC: single men (18 -25 yrs) for jobs in natural conservation – planting trees, building reservoirs, fighting forest fires • HOLC: bought mortgages from people who were behind in payments – lower interest rates, give longer time to repay (lower monthly payments) • FCA: helped farmers refinance mortgages (farms) • TVA: built hydroelectric dams, brought in new industries (construction projects) • TN, KY, VA, NC, GA, AL, MS

  8. NRA: controlled industrial production and prices with codes of fair competition – minimum wage, shorter hours • FOUND UNCONSTITUTIONAL • PWA: construction projects to improve roads, highways, bridges, + dams • Awarded contracts to construction companies • FERA: federal $ channeled to state & local governments (to fund state relief projects) • Major goal: create as many jobs as possible

  9. CWA: government hired workers directly – 4 million hired and put on govt. payroll (300,000 women) • Airports, sewers, roads, schools, playgrounds

  10. Second New Deal Programs • WPA: “useful projects” • Highways, roads, bridges, airports • Federal Project Number One: artists, musicians, writers, actors • REA: brought electricity to isolated agricultural areas • **Social Security Act: created unemployment system, old-age pensions, disability insurance, child welfare benefits

  11. National Labor Relations Act: guaranteed workers the right to organize unions without interference from employers = collective bargaining • Public Utility Holding Company Act: eliminated unfair practices and abuses of utility companies (gas + electric) • Banking Act: strengthened the Federal Reserve

  12. Resettlement Act: assisted poor families and sharecroppers in beginning new farms or purchasing land • National Housing Act: subsidize loans for builders willing to buy blocks of slums and build low cost housing • Subsidized loan: where the buyer does NOT pay interest • EX: buying a car over time with NO APR (annual percentage rate) figured in

  13. FSA: give loans to tenant farmers so they could purchase their own farms • Tenant farmer: resides on and farms land owned by a landlord • Fair Labor Standards Act: more protection for workers abolished child labor (40 hr work week established)

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