history chapter 21 and 22

during the 1920’s what was true of farming conditions?
more was produced than could be sold

during the late 1920’s stock prices rose because
investors were paying more for stock than it was worth

early on, many economists thought the best way to battle the depression was…
let the economy fix itself

president Hoover let the best strategy for ending the depression was
encouraging voluntary controls for businesses

a major environmental crisis of the 1930’s was known as
the dust bowl

the collapse of the american economic system led to…
a worldwide depression

due largely to frustration with Hoover, the 1930 congressional elections were a victory for
democrats

Summarize the critical problems that faced the American economy in the 1920s.
People couldn’t earn a living and people went into debt

Explain how the stock market crash contributed to the coming of the Great Depression.
1400 banks, 90k businesses go out of business by 1933
-unemployment goes from 3% in 1929 to 25% in 19333
-govt. raises tariffs to try to protect US industries
-Europe retaliates with higher tariffs, worldwide trade falls 40%

How did the Great Depression affect the economy in the United States and throughout the world?
-many homeless
-drought and poor soil creates dust bowl
-daily struggle to just “get by”
-no jobs

How did the prosperity of the 1920s give way to the Great Depression?
People had overconfidence in the government and relied on credit and installment options which lead to unprecedented debt.

Herbert Hoover
an accomplished public servant
-President

Black Tuesday
October 29, 1929, when stock prices fell sharply in the Great Crash

speculation
practice of making high-risk investments in hopes of obtaining large profits

Hawley-Smoot Tariff
protective import tax authorized by Congress in 1930

Business cycle
periodic growth and contraction of the economy

Examine the spread of unemployment in America’s cities.
-3% in 1929 to 25% in 1933

Explain the human and geographical factors that created the Dust Bowl.
Mechanized farm equipment was a human factor in creating the dust bowl. Wind erosion in the 1930’s was a geographical etc.

How did the Great Depression affect the lives of urban and rural Americans?
-the large number of people requiring assistance led to a focus on social reform and group work, spending decreased, unemployment grew, banks closed, taxes rose, reparations, and trade collapsed

– Americans lost their homes; unemployment rose; people could not afford to get married or have children; farmers crop prices dropped and they couldn’t make money; people moved to shantytowns/Hoovervilles; bread lines & soup kitchens opened; children quit school to help their families earn money

Okies
general term used to describe dust bowl refugees

repatriation
process by which Mexican Americans were encouraged, or forced, by local, state, and federal officials to return to Mexico during the 1930’s

bread line
line of people waiting for food handouts from charities or public agencies

shantytowns (Hoovervilles)
makeshift shantytowns set up b homeless people during the Great Depression

Dust Bowl
the central and southern Great Plains during the 1930’s when the region suffered from drought and dust storms

Tenant farmer
farmers working for bigger landowner rather than for themselves

Explain Hoover’s initial response to the Depression and the actions he eventually took to help the economy and struggling Americans.
-believed the government should just encourage cooperation between businesses
-govt. should not control companies actions
-did not believe in direct relief
-believed Americans valued “rugged individualism”

ACTION:
-directed federal funds into public works projects
-building of Boulder Dam
-Federal Home Loan Bank Act
-Reconstruction Finance Corporation

Describe how Americans reacted to Hoover’s relief programs.
The Public turned against Hoover, blaming him for the depression and in turn elected Roosevelt instead in 1932. !

Why did Herbert Hoover’s policies fail to solve the country’s economic crisis?
Hoovers policies (raised tariffs, farm subsidies, public and volunteer works) provided too little and came too late. People were too selfish

Boulder Dam (Hoover Dam)
dam on the Colorado River that was built during the Great Depression

Trickle-down economics
theory that money poured into the top of the economy pyramid will trickle down to the base

Reconstruction Finance Corporation
fewer agency set up by Congress in 1932 to provide emergency government credit to banks, railroads, and other large businesses

Bonus Army
a group of WW1 veterans who were promised a payment after the war. Due to hard times, they demanded the pay earlier. They marched into Washington DC demand for money. Hoover sent troops and weapons to settle the veterans. The Bonus Army did not receive money, and that ended Hoover’s chance of another term

localism
policy relied on by President Hoover in the early years of the Great Depression whereby local and state governments act as primary agents of economic relief

Douglas MacArthur
ordered by Hoover to surround the affected area and clear it without delay

Analyze the impact Franklin D. Roosevelt had on the American people after becoming President.
promises a New Deal
-relief for needy
-economic recovery
-financial reform

Describe the programs that were part of the first New Deal and their immediate impact.
expands governments role in nation’s economy (beginning of Alphabet Agencies)
-signs Emergency Banking Recovery Act

What did liberal and conservative critics say about the New Deal?
-liberals: Dew Deal did not do enough to help poor, fix economy
-conservatives: government becoming too powerful, destroying free enterprise, undermining individualism

How did the New Deal attempt to address the problems of the depression?
large public works projects helped provide jobs to unemployed, new gov’t agencies gave financial help to businesses grams, large amounts of money were spent on welfare and relief programs

Elanor Roosevelt
FDR’s distant cousin

Charles Coughlin
used his radio show to attack the New Deal, calling it communist

Francis Townsend
proposed giving each person 60or older $200 a month to spend

Huey Long
proposed a “share our wealth” program that took money from the rich and gave money to the poor

“fireside chats”
(radio in living rooms)- to talk to American people
-informal radio broadcast in which FDR explained issues and New Deal programs to average Americans

Franklin Delano Roosevelt
Democratic Party’s nominee for president

New Deal
programs and legislation enacted by FDR during the Great Depression to promote economic recovery and social reform

Glass-Steagall Act

FDIC (Federal Deposit Insurance Corporation)
-govt agency that insures bank deposits, guaranteeing that depositors’ one will be safe

TVA (Tennessee Valley Authority)
-govt agency that built dams in the Tennessee River valley to control flooding and generate electric power

CCC (Civilan Conservation Corps)
-New Deal program that provided young men with relief jobs on environmental conservation projects, including reforestation and flood control

NRA (National Recovery Administration)
-New Deal agency that promoted economic recovery by regulating production, prices, and wages

PWA (Public Works Administration)
-New Deal agency that provided millions of jobs constructing public buildings

Farm Security Administration (FSA)
loans to tenant farmers to buy land
-FSA hires photographers to shoot rural towns, farms, and farmers

National Youth Administration (NYA)
-education, jobs, counseling
-gives aid to students in exchange for part time work

Describe the impact of Roosevelt’s court packing plan on the course of the New Deal.

What major issues did the Second New Deal address?
The Second New Deal addressed the needs of the elderly, the poor, the unemployed, and the disabled with the passage of the Social Security Act. The Wagner Act gave workers the right to join unions and engage in collective bargaining. Other legislation assisted farmers and created new public works projects.

Second New Deal
legislative activity begun by FDR in 1935 to solve problems created by the Great Depression

WPA (Works Progress Administration)
-administered the program of appropriated $5 billion for new jobs
-workers build airports, roads, and public buildings
-women workers sew clothes for needy
-employs professional writers, artists, and performer

John Maynard Keynes
British economist- argued that deficit spending was needed to end the depression
-putting people to work on public projects put money into the hands of consumers who would buy more goods, stimulating the economy

Wagner Act
New Deal law that abolished unfair labor practices, recognized the right of employees to organize labor unions, and gave workers the right to collective bargaining

-protects right to join unions, collective bargaining
-prohibits unfair labor practices

Social Security Act
1935 law that set up a pension system for retirees, established employment insurance, and created insurance for victims of work-related accidents. It also provided aid for poverty-stricken mothers and children, the blind, and the disabled

Pump priming
economic theory that favored public works projects because they put money into the hands of consumers who would buy more goods, stimulating the economy

Collective bargaining
employers had to negotiate with unions about hours, wages and other working conditions

Fair Labor Standards Act
1938 law that set a minimum wage, a maximum workweek of 44 hours, and outlawed child labor

CIO
(Congress of Industrial Organization)
-labor organization founded in the 1930’s that represented industrial workers

Sit down strikes
labor protest in which workers stop working and occupy the workplace until their demands are met

Court Packing
FDR plan to add up to six new justices to the 9-member Supreme Court after the Court had ruled that some New Deal legislation was unconstitutional

Describe how the New Deal affected different groups in American society.
– Farmers
– unemployed workers,and workers who belonged to unions….
– business groups
– young workers
– students, teachers, artists, writers, musicians….
– Native Americans
– Afro-Americans
– Women
– Some Mexican-Americans
– And the poor, and needy…..

Analyze how the New Deal changed the shape of American party politics.

Discuss the impact of FDR on the presidency.

How did the New Deal change the social, economic, and political landscape of the United States for future generations?
changed role of fed gov in economy, power of presidency, relationship of american people to their gov, also provided women to increase their political influence and promote women’s right

New Deal Coalition
political force formed by diverse groups who united to support FDR and his New Deal

Indian New Deal
1903’s legislation that gave Indians greater control over their affairs and provided funding for schools and hospitals

“black cabinet”
African American leaders invited by the President to advise him

Mary McLeod Bethune
member of the Black Cabinet
-powerful champion of racial equality
-in her view the New Deal had created a “new day” for blacks

Welfare state
government that assumes responsibility for providing for the welfare of the poor, elderly, sick, and unemployed

Which of these had the MOST significant impact on the crash of the stock market in the United States in 1929? overproduction of consumer goods “Federal Spending” Which can be inferred from the graph? “New Deal” dramatic increases in gov’t …

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