Unit 10 Test ReviewThe 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 AuthorityBuilt 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 DealsWPA – Works Progress AdministrationEmployed 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 REVIEWPassage 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 REVIEWThe Middle Passage, voyages that brought Africans to the West Indies and later to
North America
EOCT REVIEW
John Brown led 21 black and white
men in a raid on Harpers
Ferry
EOCT REVIEWThe 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”