Unit 10 Test Review The Great Depression

The Great Depression was the time period of great economic crisis and a period of low business activity in the U.S. and other countries. Beginning with the stock-market crash in October 1929, and continuing through most of the 1930s.

Major cause of the Great Depression was overproduction of consumer goods and farming crops

Easy credit to consumers with the installment plan was one of the major factors of the 1920s that contributed to the Great Depression

Uneven Distribution of wealth referred to the fact that more than 70% of American families earned less than $2,500 a year, which was considered the minimum amount needed for a decent standard of living

Buying on Margin was the idea of buying stocks on credit– when the price of the stocks dropped people went into debt and lost their life savings

After the Stock Market crash in 1929 thousands of banks across the nation failed because people panicked and withdrew their money from banks.

Unrestrained (unregulated) speculation and then a fall in confidence in the market led to the Stock Market crash in October 1929

Panic selling caused many stocks to lose up to half of their value on the day of the stock market crash.

During the 1930’s high tariffs hurt the world economy even more after the Stock Market crash.

The Dust Bowl was caused by severe drought and over farming

One of the effects of the Dust Bowl was a mass migration on people moving west

One political impact of widespread unemployment during the first few years of the Great Depression was a call for new leadership. Democrats won the White House in the 1932 presidential election

Shantytowns were called Hoovervilles to make fun of Hoover's continuing lack of acknowledgement about the severe crisis, his limited help, and his opposition to federal relief.

Unemployment reaches 25% during the Great Depression

Roosevelt’s New Deal was a program of relief, recovery, & reform to alleviate the problems of the depression

President Roosevelt's “Hundred Days” refers to FDR’s 1st 100 days in office in which he implemented a number of changes to help improve the economy and help the American people.

Roosevelt closed all the banks in America during the “Banking Holiday” when each bank was inspected for soundness by the Treasury Department

Roosevelt’s “fireside chats” improved national morale and hope for a better future

FDR’s first “One Hundred Days” showed that Roosevelt was going to make changes to help improve the economy and get Americans back to work – Congress passed 15 major laws during those 1st 100 days

New Deal Programs CCC - Civilian Conservation Corps Employed young men to work on conservation projects for example planting tress, worked in parks and built roads to rural areas

New Deal Programs TVA – Tennessee Valley Authority Built dams and hydroelectric power plants to produce power to rural areas and prevent floods

New Deal Programs S.E.C. - Securities and Exchange Commission Regulated the Stock Market

New Deal Programs FDIC - Federal Deposit Insurance Corporation Insures the money that is put into banks and this agency is still around today

New Program Deals WPA – Works Progress Administration Employed 8 million people including artist, actors, teachers, writers, as well as many others. Some made promotional posters such as this one

New Deal Programs The CCC & the WPA were both similar because they both hired unemployed workers

New Deal Program SSA – Social Security Act This system is still around today and takes a % of each paycheck to put towards a retirement pensions, unemployment compensation, & aid to families with dependent children

The Wagner Act, also called the National Labor Relations Act protected workers right to join unions and go on strike

Roosevelt’s “court packing” was an attempted to add 6 justices to the Supreme Court because they were starting to declare New Deal programs unconstitutional It failed because Congress believed it violated checks & balances

Eleanor Roosevelt, the First Lady, was a social activist. She traveled the country to observe social conditions and advise her husband on ways to help with the depression

One long term effect of the New Deal was the federal government’s assumption of greater responsibility for the nation’s welfare.

Louisiana Senator Huey Long challenged the New Deal by stating that it didn’t do enough to help poor Americans Long’s Plan “Share the Wealth” was a radical redistribution of wealth from the rich to the poor

EOCT REVIEW Passage of the Stamp Act in 1765 caused many colonists to began to believe that they should only abide by laws enacted by their own representatives. NO TAXATION WITHOUT REPRESENTATION

EOCT REVIEW Completion of the Erie Canal in 1825 impact New York City by making it a major economic and financial center

EOCT REVIEW The Middle Passage, voyages that brought Africans to the West Indies and later to North America

John Brown led 21 black and white men in a raid on Harpers Ferry EOCT REVIEW John Brown led 21 black and white men in a raid on Harpers Ferry

EOCT REVIEW The 13th Amendment put an end to slavery “Neither slavery nor involuntary servitude, except as punishment for crime whereof the party shall have been convicted, shall exist within the United States”