Name Class Pd Teacher Units 9 & 10 - Great Depression/New Deal Test Review

Transcription

1 Name Class Pd Teacher Units 9 & 10 - Great Depression/New Deal Test Review I. Who to know: Herbert Hoover Franklin D. Roosevelt Francis Perkins Okie Father Charles Coughlin Francis Townshend Bonus Army Huey Long John Maynard Keynes Eleanor Roosevelt black American John Steinbeck American Liberty League Walt Disney Dorothea Lange/Margaret Bourke-White 1. I am the 31st President of the US (Republican). I was elected in 1928 in the last years of the Roaring 20s. I was a supporter of Laissez Faire who advocated rugged individualism. When the Great Depression hit, I was slow to respond because I accepted that recessions and depressions were all part of a normal business cycle. I was against direct fed. gov t relief instead favoring voluntary actions or gov t programs at the state and local level. 2. I am the 32 nd President of the US (Democrat) and the only to be elected to 4 terms in office! I was elected easily because most people blamed Hoover and the Republicans for failing to address the Depression s issues aggressively enough. I tackled Depression s issues through numerous New Deal programs showing that I was willing to use fed. gov t intervention to solve economic problems and assist the needy. I lost some popularity when I interfered with the constitutional principles of Separation of Powers and Checks and Balances by trying to increase the number of justices in the Supreme Court and impose retirement rules upon them. 3. As a result of the benefits I experienced under FDR s New Deal, I switched from being a member/supporter of the Republican Party (the Party of Lincoln) to being a member/supporter of the Democratic Party 4. I am a left-wing critic of the New Deal. I advocated a plan to free up jobs for the unemployed by forcing people into retirement at age 60 and then giving them a $200/mo. pensions 5. I am a left-wing critic of FDR. I called for a redistribution of wealth by taxing the rich and distributing money to the poor and middle class. I called for the nationalization of banking and big business. I was known as the Radio Priest. 6. I created the first full-length animated film, Snow White 7. We are photojournalists who documented the suffering of the Depression in picture magazines 8. I am a Great Plains farmer who migrated to the places like California, Oregon and Washington to escape the Dust Bowl conditions and in hopes of finding agricultural work. 9. Author of The Grapes of Wrath, a book that highlights the struggles of migrant farm workers during the Dust Bowl and Great Depression 10. I am a left-wing critic of FDR who believe in sharing the wealth and making every man a king by taking $ from the rich and giving it to the needy. (Wasn t that Robin Hood?) 11. I am the very popular wife of the 32 nd President. I changed the role of First Lady to include social activism for specific causes 12. I am a group of WWI Veterans who went to Wash DC to demand an early bonus. President Hoover s reputation was permanently tarnished when he sent the army to clear us out. When we returned during FDR s administration, FDR sent out his wife

2 13. I am the first woman to serve in a cabinet level post. I was appointed by FDR to be his Secretary of Labor. 14. I am a member of this right-wing (Republican/jConservative) group that was critical of FDR s New Deal programs. I am opposed to expanding the size and scope of government and the increased gov t spending that goes along with it. 15. I am an economist who argued that in times of recession, the gov t should SPEND heavily even if it ran a DEFICIT in order to jump start the economy. FDR followed my advice. (Many presidents since FDR have followed my advice too see current national debt figures Yikes!) II. Great Depression Unregulated financial institutions Bull Market Oct. 29, 1929 Hoovervilles Dust Bowl Bread Line Federal Reserve Board (The Fed) Hawley-Smoot Tariff Bank Runs Overproduction Margin Call Unemployment Mexican Repatriation Act Reconstruction Finance Corporation (RFC) Un-equal distribution of wealth 16. This date represents a turning point in US history. Also referred to as Black Tuesday, on this day there was a massive sell-off of stocks causing the market to crash and marking the start of the Great Depression. 17. This is a term that means a long period of rising stock prices. Because of it, about 10% of Americans had invested in stock market in the 1920s. 18. Banks and brokers had the ability to demand pay-off of their loans by making one of these. Because investors worried about their ability to repay their loans, they were very sensitive to any drop in stock prices and often sold the stock when prices began to drop even slightly. 19. This was a major cause of the Great Depression. Supply > demand and prices fell. In the 1920s, new technology allowed companies and farms to increase production capacity. Additionally, many Americans had bought the new products of the age on Credit. Eventually, debt had to be paid. To pay off debts, some reduced other purchases. Less consumption surplus falling prices and less production. This lower production led to lay-offs and unemployment. 20. This was a cause of the Great Depression. 5% of Americans earned 30% of the nations income. This meant that there were too few people able to afford many of the goods that were being produced in this era leaving companies and farmers with mounting surpluses. 21. This helped cause the Depression by severely reducing trade on both sides of the Atlantic. It greatly reduced sales of US products in Europe at a time when we had large surpluses and really needed those export sales. 22. Mistakes made by me helped cause the Depression. In the late 1920s, we initially kept interest rates too low which contributed to overproduction by encouraging businesses to continue to borrow money for expansion and production. Companies then had to lay off workers when sales/prices were falling leading to increased unemployment. While in recession, I raised interest rates, tightening the money supply. This was another mistake as credit and cash were needed to see businesses, consumers, banks etc. through the recession. 23. This helped cause the Great Depression. The ability to buy stocks on margin contributed to over-speculation and overvalued stocks. The ability of brokers to make margin

3 calls made investors overly sensitive to any drop in stock value. Additionally, in this era, there were few rules governing the banking industry and people s deposits were not insured, meaning if a bank went out of business in this era, customers lost their savings. 24. The figures on this statistic reached 25%. This major effect of the Depression was devastating and contributed to additional effects. 25. This nickname referred to the shantytowns that sprung up all over the country as homelessness grew as result of foreclosures and evictions, another effect of the Depression. They were called this as people began blaming President Hoover for their suffering in the Depression. 26. Hunger was another effect of the Depression, and desperate people often stood in these or at Soup Kitchen s for a source of much-needed nourishment. 27. These reflected a crisis of confidence in the banking system. Banks were weakened by the stock market crash, and these occurred when too many customers tried to withdraw their money from the bank at once. 28. This was a Hoover program that expanded the government s role in the economy more than any time prior. It was intended to ease the effects of the Depression by making loans to banks, railroads and agricultural institutions. For many, it was considered to be too little, too late. 29. This program authorized by Pres. Hoover sent Mexican and Mexican- Americans back to Mexico to free up desperately needed jobs for other Americans 30. This agricultural disaster took place in the Great Plains region of the US. Farmland was deemed useless and dust storms were common. This was largely caused by irresponsible farming techniques and a prolonged drought. Resulted in many migrating from the region III. The New Deal Agricultural Adjustment Administration (AAA) The Hundred Days Fair Labor Standard Act (FLSA) Home Owners Loan Corporation (HOLC) Securities and Exchange Commission (SEC) Social Security Farm Security Administration National Housing Act 10 th Amendment Civilian Conservation Corp (CCC) Wagner Act Federal Deposit Insurance Corp (FDIC) Public Works Administration (PWA) Tennessee Valley Authority (TVA) Works Progress Administration (WPA) National Recovery Administration (NRA) Emergency Banking Relief Act 31. This was an FDR banking reform program that exists still today. FDR s first actions aimed at addressing the banking crisis his goal was to restore confidence in the banks. This reform provides gov t insurance on bank deposits up to a certain amount 32. This was a New Deal reform that exists still today. Its purpose is to regulate (establish rules) the stock market and protect investors from fraud. 33. This 2 nd New Deal program created the United States Housing Authority. Its purpose was to provide better housing for the nation s poor by subsidizing builders willing to construct low-cost housing 34. This was a New Deal relief program that provided jobs for young men in the field of conservation. The lasting importance of this program was not just that it eased unemployment, but it also instilled camaraderie and provided education opportunities for young men thereby reducing the number of young men who embraced political extremism in the US (unlike Europe)

4 35. This was a New Deal recovery program established to speed up business recovery. It was authorized the National Industrial Recovery Act (NIRA) to suspend antitrust laws and allowed business, labor, and gov t to cooperate with codes of competition that set prices, established minimum wages, shortened workers hours to create more jobs, permitted unionization, and helped businesses develop industry-wide rules of fair competition. This was declared unconstitutional by the Supreme Court in Schecter v. US. 36. This was a New Deal recovery program that was aimed at helping farmers. The plan was designed to reverse the overproduction issue by reducing the supply of agricultural products which would lead to increased prices. This plan was heavily criticized as it involved destroying crops and raising food prices at a time when hunger was prevalent. The Supreme Court eventually declared it unconstitutional stating that it violated the principles of the 10 th Amendment 37. this amendment limits the power of the nat l gov t by guaranteeing that rights not given to the federal gov t, nor denied to the states, are reserved to the states or to the people 38. This was a New Deal relief program aimed at decreasing the number of foreclosed homes. This agency refinanced mortgages by lengthening the mortgage repayment term and/or lowered the interest rates for employed homeowners 39. This was a New Deal relief and reform program aimed at increasing the standard of living in 7 southern states and attracting industry in the south. The gov t built a series of dams to prevent flooding and to sell electricity. 40. This was a 1935 New Deal relief program that employed millions of workers for construction, arts, theater and literary projects 41. This was a New Deal relief program that launched major engineering projects such as power plants, highways, bridges and dams (Hoover Dam etc.) 42. This was a New Deal reform program that established old-age pensions, unemployment insurance and disability payments aid to dependent children establishes the principle that the fed. gov t is responsible for the economic welfare of those who (through no fault of their own) are unable to work. 43. This was an attempt to restore confidence in the banking system. It required federal examiners to inspect and survey banks and issue Treasury Dept. licenses only to those that were deemed financially sound. This law allowed FDR to order the US off the gold standard (temporarily) in an effort to cause inflation and lower the value of the dollar to bring up prices. 44. This was a New Deal reform that abolished child labor and established a minimum wage and maximum working hours 45. This refers to the period of time between March 9 and June 16, 1933 when FDR sent bill after bill to Congress in a bold, persistent experimentation. In this time period, Congress passed 15 major acts in hopes of resolving the economic crisis of the Great Depression. 46. Because FDR believed that Unions could help lift us out of the Depression by securing higher wages for employees, he pushed for pro-union laws such as this. It made it possible for workers to form unions without interference from employers and allowed collective bargaining 47. This program was established to help the nation s tenant farmers by offering loans so that they could purchase farms IV. Questions

5 48. List the (5) major causes of the Great Depression. c. d. e. 49. In what TWO ways did the stock market crash weaken the nation s banks? 50. List ways that people sought to escape or forget about the Depression 51. For what reason was Hoover against deficit spending (how do we pay for deficit spending? 2 ways) 52. Explain FDR s court packing plan. Why did he propose this? 53. What is the long term legacy of the New Deal? How did the New Deal change the way many people view gov t?