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12 Cards in this Set
- Front
- Back
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October 29, 1929- Black Tuesday
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Stock Market on Wall Street crashed
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Causes of the Great Depression
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overproduction of goods/food and underconsumption by consumers, low interest rates and installment plans/credit encouraged Americans to borrow/spend money they didn't have, few people had savings (rich were very rich and poor were very poor).
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Drought (lack of rainfall) in the Great Plains caused this wide expanse of unsuitable farmland
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Dust Bowl
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Most people blamed the Depression on him
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President Herbert Hoover and his rugged individualism
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Franklin D Roosevelt's program for economic recovery was called the ___________. He communicated his ideas for the plan during his weekly radio addresses known as the _______
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New Deal; fireside chats
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Paid farmers not to plant crops on a part of their land to decrease the crop yield (amount of crops) to increase the price the good would cost.
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Agriculture Adjustment Act (AAA)
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Built dams for cheap hydroelectric power to bring electricity to the rural South and encourage industry to locate here (thereby giving people jobs during the Depression)
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Tennessee Valley Authority (TVA)
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Provided funds for the elderly (retirement), disability, and unemployment
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Social Security Act
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Workers enlisted to do environmental jobs...built state and national parks and worked to conserve the environment. Took young men between 18-25 years old.
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Civilian Conservation Corp - CCC
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Insured citizens bank accounts, encouraged people to trust banks and redeposit their money in their accounts
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Federal Deposit Insurance Corp. FDIC
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Minimum wage 40 cents
Maximum work week 44 hours (before overtime kicked in...later changed to 40 hours) No child labor under age of 16 |
FLSA
Fair Labor Standards Act |
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Labor unions are legal and company owners must recognize them
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National Labor Relations Act
(also called the Wagner Act) |
