1. Herbert Hoover “Rugged Individualism”
He believed that Americans did not want a hand out.
His Laissez faire polices were supported by his advisors.

2. Hoover-Volunteerism/Taxes
He asked companies to work together to solve problems (no layoffs).
After initially lowering taxes, he then raised them.

3. Reconstruction Finance Corporation
Government would make loans to banks, RR, and farm cooperatives..
It was a trickle down approach.
Too little late.

4. Federal Reserve Policies
The Fed raised interest rates after the crash and made it harder to get loans from banks.
There was a cash shortage during depression.

5. Vocabulary Speculation- risky gambles on stock market
Buying “on the margin”- putting a small amount down when purchasing stock and getting a loan usually from a broker for the rest.

6. Reasons Farmers did not Prosper
WWI over nobody to buy surplus.
Prices low
Boycotts of U.S. products due to Tariffs.
No Bailout

7. Causes of Great Depression
Over production and under consumption of goods.
Over investment and over speculation in the stock market
Uneven distribution of Income
Too much consumer debt.
Farm Crisis
High tariffs/boycotts
Raised interest rates after crash.

8. Bonus Army WWI Veterans want bonus early! Senate says no bonus in 1932
Hoover has to clear them out. 3 killed
Senate votes bill down

9. The Dust Bowl 1933
Led to mass refugees from the middle of our country.
Many went to California and were seen as unwanted because of a tough job market
“Okies”

10. Dust Bowl refugees put a strain on relief funds that were given to California.
This made it tougher for jobs and welfare for poor people.

11. Dust Bowl Refugees effect on California
There is a greater demand on available relief funds for Californians.
This causes Californians to get upset. There is less welfare and job programs to help poor.

12. Effects of Depression Homelessness Bank failures Hunger Unemployment
Hardship
Government bigger!!!!!

13. FDR’S New Deal Relief, Recovery, Reform
His “New Deal” was based on his belief that the government needed to take a more active role in regulating the economy.
Relief, Recovery, Reform

14. FDR and the Bank Holiday
FDR tried to fix banks first.
He declares a bank holiday and sends in government inspectors.
Only “healthy banks” open.
Tried to increase confidence.

15. Federal Deposit Insurance Company
FDIC: government now insures your deposits up to a certain amount
We still have it today.

16. Securities and Exchange Commission
The SEC regulates the Stock market.
Its their job to prevent fraud and protect investors

17. Tennessee Valley Authority/ Problems
Gov. supported hydro-electric works project that helped employ many people in the Tennessee Valley area.
Many business groups opposed the TVA because they believed that it unfairly competed with private power companies.

18. Agricultural Adjustment Act
Paid farmers to produce less
Government is trying to raise prices
Later voted down in Supreme Court as unconstitutional

19. Works Progress Administration
Put artists, teachers and construction workers to work
Provided aid for students in the form of work-study programs

20. Civilian Conservation Corps
Put young men to work
Conservation of resources
Soil, trees, national parks
Involved every U.S. state

21. FERA Federal Emergency Relief Act
Our first direct relief for the needy.
Beginning of Welfare.
“Priming the pump.”

22. Left wing critics
Huey long and FrancisTownsend wanted the government to do more. Long promoted the Share our wealth program. Townsend wanted more for elderly.

23. Right wing critics of New Deal
Right-wing critics of FDR’s New Deal said that programs, such as the CCC, Social Security Act and WPA, would cause Americans to become too dependent on government help.

24. Effect of New Deal on Workers
A lasting effect of the Great Depression and New deal on American workers was that their rights were protected ;especially the right to unionize.

25. Wagner Act provided a board to supervise conditions and union rights.
It guaranteed collective bargaining or the right of unions to work out deals with management.

26. Francis Perkins
1st woman to serve on Presidential Cabinet as the Secretary of Labor

27. New Deal Coalition
FDR’s supporters, who included farmers, laborers, African Americans, New immigrants, ethnic minorities, women, progressives and intellectuals.

28. CIO
Labor union that organized industrial workers from 1935 to 1955.

30. Social Security
Social Security, one of the major New Deal programs, was designed to help the unemployed and the elderly.
Some people argued that it would make people too dependent on the government.

31. The New Deal Chapter 10 Big Ideas
The federal government gets bigger and expands regulatory power
Welfare, unemployment, workers benefits, public works projects, banking reform, and housing programs
It doesn’t end depression. WWII does!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
It did put many people to work and put systems into place designed to keep this from happening again