US History 22 & 23

Dust Bowl lasted throughout 1930’s, spread all the way to India and Asia. Kansas OK, TX, NM, AND CO. dust storms and evictions thousands of farmers and sharecroppers left their land behind
Hoover Rugged Individualism- direct relief would destroy self-respect and moral fiber of America
Price suppor Gov’t would buy surplus crops at guaranteed prices and sell them on world market
credit am agreement in which consumes agreed to buy now and pay later
Alfred E Smith Democrat that ran against Hoover in 1928 election
Dow Jones Industrial Average Most widely used barometer of the stock markets health
Speculation bought stick and bonds the chance of a quick profit, while ignoring risk
buying on a margin paying a small % of a stocks price as a downward payment and borrowing the rest
Black Tuesday Oct- 29, the bottom fell out of the market and the nations confidence DID NOT CAUSE GREAT DEPRESSION
Great Depression Period form 1929-1940 in which the economy plummeted and unemployment skyrocketed
Hawley-Smoot Tariff Act 1930-established the highest protective tariff in the US
Shanty town little towns consisting of shacks
Soup Kitchen offered low-cost food to homeless
Bread line lines of people waiting to receive food provide by charitable organizations of public agencies
Direct Relief Cash payments of food provided by gov’t to the poor
Herbert Hoover Pres in 1929, who tried to reassure America that the nations economy was n a sound foot
Boulder Dam (Hoover Dam) World larder dam & 2nd tallest
Federal Home loan Bank Act 1932, lowered mortgage rates for homes and allowed farmers to refinance their farm loans and avoid foreclosure
Reconstruction Finance Corporation (RFC) approved by congress in JAN 1932, authorized up to 2 billion for emergency financing banks, life insurance companies, railroads, and other large business.
Bonus Army 10,000-20,000 WWI veterans and families arrived in DC
Work Progress Administration (WPA) HEADED BY HENRY HOPKINS, SET OUT TO CREATE AS MANY JOBS AS POSSIBLE AS QUICKLY AS POSSIBLE. SPENT 11 BILLION TO GIVE JOBS TO MORE THAN 8 MILLION PEOPLE (built roads for progress, airports)
Nation Youth Administration Created to proved educational Jobs, counseling and recreation for young people (funds art)
Social Security Act PASSED IN 1935, WAS CREATED BY A COMMITTEE CHAIRED BY SECRETARY OF LABOR, FRANCES PERKINS-OLD AGE INSURANCE-Unemployment
Public Workd Adm. (PWA) Built Schools and Hospitals
Huey Long Gov of Louisiana- most open, racist, man running for presidency (assassinated)
Charles townsend doctor, created retirement plan
Charles Coffin- Took political form relifious POV on radio
Francis Perkins First female cabinet member- helped create social security system and supervised labor legislation
Mary McLeaod Bethune Education who dedicated herself to promoting opportunities for young AA
Federal Deposit Corporation (FDIC) insured your deposit
Securities and Exchange Commission (SEC) regulates stock market
Feeral Emergency Relif Adm. Money given to states to hand out to unemployed
Tennessee Vlley Authority Built dams and powerplants- helped prevent floods
100 days – 15 new programs part of new deal get passed in 100 dyas
3 Goals – 3 R’s Relief- for needyRecovery- EconomicReform- Financial
Emergency banking relief closed all banks
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