History: Chapter 21 and 24

The flashcards below were created by user LaurenCamp29 on FreezingBlue Flashcards.

  1. How much did the GNP rise between 1922 and 1928?
  2. What industries became very prosperous during the 1920's?
    • Automobile Industry
    • Steel Industry
    • Oil Industry
    • Rubber industry
  3. Explain the stock market.
    How do you make money?
    Lose money?
    When you invest in a company by buying a stock. Company's sell ownership licenses for a certain amount of money. 

    When the company makes money then so does the stock owner when they sell their stock.

    When the company loses money then so does the stock owner when they sell their stock.
  4. Describe the distribution of income during the 1920's?
    • 5% of the workers received 70% of the country's income. 
    • 95% of workers received 30%
  5. What is buying on margin?
    When you get a loan from a stock broker to buy stocks so that you put out less money. It's half of your money and half your stock broker's money.
  6. What is the Federal Reserve System?
    The U.S. Central Bank
  7. How did the Federal Reserve System feel about buying on margin?
    They didn't like it because if the stock market ever went down then people would lose a lot of money and then they would owe everyone a lot of money.
  8. How much did the Stock Market lose on Black Tuesday?
    $16 billion
  9. Why was Tuesday October 29th, 1929 known as Black Tuesday?
    The Stock Market Crashed
  10. Describe why the stock market crashed?
    Investors sold all their stocks all at once which lowered their value and nobody wanted to buy the newly sold stocks.
  11. What were the effects of the crash on these individuals?:
    • Scared people into withdrawing all their $ and the banks ran out
    • Banks lost $ also due to the Stock Market because they had so much $ invested in it
    • 350 banks went out of business
  12. What were the effects of the crash on these individuals?:
    • Businesses were unable to grow because banks had no more $ to lend 
    • Consumers stopped buying as much, so businesses were forced to lay off workers and cut pay.
  13. What were the effects of the crash on these individuals?:
    • American banks were unable to import products to the Europeans  who were still trying to recover from WWI
    • Foreign businesses were unable to import products because Americans weren't spending anymore
  14. What is foreclosure?
    When a farmer or home owner cannot afford to pay their loans they get their house taken away.
  15. What was the unemployment rate in 1933?
  16. Why were they called Hoovervilles?
    To insult President Hoover because they thought he was responsible for the Great Depression
  17. What is a Hooverville?
    Neighborhoods upon the outskirts of town or in public parks to house the homeless
  18. What is a hobo?
    Americans who left their families in search of work
  19. Who was the Dust Bowl?
    • Oklahoma
    • Kansas
    • Colorado
    • New Mexico
    • Texas
  20. Describe the Dust Bowl?
    • The Great Plains had entered a severe drought 
    • The ground became dried up and infertile
    • When the wind would pick up there would be a huge dust storm.
  21. Where did farmers affected by the Dust Bowl move?
    What were they called and why?
    • California
    • Oakies
    • After the state of Oklahoma
  22. Why was insulting to be called an Okie?
    Because not everyone was from Oklahoma
  23. Who wrote may songs about the problem of the Okies?
    Woody Guthrie
  24. Who wrote The Grapes of Wrath and Of Mice and Men?
    John Steinbeck
  25. Describe what Herbert Hoover meant by "rugged individualism"
    • He meant that "rugged" people do things themselves and that's the way people should be.
    • Lost your job? You Figure it out
  26. How big a role did Hoover believe government should have in business?
    As little a role as possible
  27. What were Cooperatives and were they successful?
    • People in similar businesses could work together toward a common goal
    • No
  28. What was the Reconstruction Finance Corporation and was it successful?
    • Hoover authorized $2 billion in direct loans to struggling banks
    • No
  29. What did the Smoot-Hawley Tariff Act hope to accomplish and was it successful?
    • Raised the cost of imported goods so that American would buy American goods to pump money back into the economy
    • No
  30. Why did the American citizens turn on Herbert Hoover?
    • He was giving billions of dollars to the banks rather than the indiviudal
    • They felt they were not getting the help they thought they deserved
  31. What was the Bonus March and why did it happen?
    A group of WWI veterans on strike in Washington D.C. to get their bonus check that they were promised by the government, sooner because they were lives were in jeopardy.
  32. How did the Bonus March end?
    The U.S. Army chased them away and now people felt even more negatively about Hoover
  33. Who won the 1932 election?
  34. What state was FDR the governor of?
    New York
  35. What disease was FDR afflicted with?
  36. Who did FDR run against in the election of 1932?
  37. *What is the famous quote from FDR's inaugural address and what did it mean?
    • The only thing we have to fear is fear itself"
    • To make people feel more optimistic about the future. He was basically just trying to let them know that he would help them through this tough time.
  38. How did FDR's philosophy differ from the Republicans who came before him?
    It was government's job to take direct action to help those in need.
  39. Who was FDR's wife?
    Eleanor Roosevelt (they were distant cousins)
  40. What was her role politically?
    Eleanor was FDR's caretaker because of his polio and because of this she is present for many of the important meetings. No other first lady had done this before.
  41. Why were they called Fireside Chats?
    Family would gather around by a fireplace and listen to the speeches.
  42. What were fireside chats?
    Roosevelt gave speeches that were broadcasted on the radio once a week.
  43. What effect did the Fireside Chats leave on the nation?
    Made them feel better
  44. Explain the Roosevelt New Deal program:
    Bank Holiday
    Designed to stop people from making massive withdraws. It shut down the banks
  45. Explain the Roosevelt New Deal program:
    Emergency Banking Act
    Going in and inspecting the banks to make sure they're safe.
  46. Explain the Roosevelt New Deal program:
    Federal Deposit Insurance Corporation
    Insured each bank deposit up to $2,500 so if the bank doesn't have business then your money is safe.
  47. Explain the Roosevelt New Deal program:
    Farm Credit Administration
    Provided low interest, long-term loans to Farmers to help with mortgages, overdue taxes, and farm equipment.
  48. Explain the Roosevelt New Deal program:
    Home Owners Loan Corporation
    Provided low interest long-term mortgage loans to home owners and saved their homes.
  49. Explain the Roosevelt New Deal program:
    Civil Works Adminstration/Civilian Conservation Corps
    Created temporary jobs for people which in return helped the community
  50. Explain the Roosevelt New Deal program:
    National Industrial Recovery Act
    Designed to stimulate industrial and business activity and reduce unemployment by stabilizing prices, raising wages, limited workers' hours, and provided jobs
  51. Explain the Roosevelt New Deal program:
    Public Works Adminstration
    Provided jobs and stimulated business activity by contracting public-works projects (roads, buildings, etc...)
  52. Explain the Roosevelt New Deal program:
    National Recovery Administration
    Encourage businesses to draw up "codes of fair competitions"
  53. Explain the Roosevelt New Deal program:
    Agricultural Adjustment Act
    Raised farm prices, increased farmers' purchasing power and proposed that farmers cut production. They paid farmers to reduce their out of commodities (cotton, wheat, corn, etc...)
  54. Explain the Roosevelt New Deal program:
    Tennessee Valley Authority
    Built 38 dams and several power stations that provided electricity, flood control, and recreational facilities
  55. What were the criticisms of the New Deal from those on the left and right of the political spectrum?
    • Left (democrats): Not good enough (not far enough)
    • Right (republicans): Too much (too far)
  56. Describe the relief program proposed by Senator Huey Long
    Took $ from the rich's taxes and gave it to the poor.
  57. What became of Senator Huey Long?
    He got shot
  58. Why did the New Deal initiate more public works programs in 1934?
    For more seats in congress
  59. What were the four major provisions of the Social Security Act?
    • Unemployment insurance (fired/laid off)
    • Pensions for retired workers
    • Disabled 
    • Worker's comp (if you get hurt on the job)
  60. Who was Roosevelt's opponent in the election of 1936 and who won?
    • Alf Landon 
    • Roosevelt won
  61. Describe FDR's struggle with the Supreme Court
    FDR passed all these New Deal programs and the supreme court found that some of them were unconstitutional and FDR did not like that. He tried to add 6 more judges.
  62. What were some setbacks Roosevelt faced during the New Deal Era?
    The Supreme Court ruled some of FDR's programs unconstitutional
  63. Was FDR a support of equality?
    No because racist southern states would not vote for him
  64. How did the New Deal affect African-Americans?
    • Some were helped by the New Deal
    • Some were discriminated against and passed over for jobs.
  65. How did the New Deal affect the arts in America?
    The Federal Government hired unemployed writers, actors, theater workers, musicians and artists
  66. What events, at the end of the 1930's brought an end to the New Deal Era?
    Roosevelt strived to remove members from congress who did not support him and he was unsuccessful.
  67. What did every single New Deal program provide? Describe it.
    • 1. Created jobs which
    • 2. Built America by making buildings and if they have jobs then the government
    • 3. Gives people money and if they don't have a job then the government gives
    • 4. Give Loans
Card Set
History: Chapter 21 and 24
test studyguide
Show Answers