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82 Cards in this Set
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- Back
- 3rd side (hint)
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WHAT WERE SIGNS OF ECONOMIC TROUBLE BENEATH THE 1920'S PROSPERITY?
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-THERE WAS UNEQUAL DISTRIBUTION OF INCOME
-WORKERS AND FARMS RECEIVED LITTLE IN PAY OR PROFIT -FARMERS SUFFERED B/C OF OVERPRODUCTION -HOME SALES, DEMAND FOR HEAVY MACHINERY, AND CONSUMER PURCHASING WERE DOWN IN 1928 AND 1929 |
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how did the stock market crash?
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during the summer of 1929, many stocks doubled in price and investors begun to realize that the stocks were overvalued, so by august they beegan selling their stocks. soon others followed. investors who had bought on the margin were forced to sell their stocks to pay their brokers. prices began to fall rapidly. on black tuesday, october 29, there were no buyers for most stocks. many investors lost everything
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The Great Depression
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the economic hardtimes that lasted from 1929 to 1941
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Name and describe 4 causes of the Great Depression
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1) Worldwide depression-economic conditions were not good in other countries. some had economic problems during the mid-1920's. the u.s. depression spread to create a worldwide collapse.
2) Overproduction- too many goods and too few buyers. factories produced a great deal in the 1920's but workers were low paid and this could not purchase much. factories started to layoff workers 3)cycle of disaster-one disaster (ex. stock market crash) triggered another. many investors were ruined and this led to little investment in business which then causes business to shrink. when business shrunk, they cut back on production which then led to wage cuts and layoffs. workers could then buy less and there was less demand. less demand then led to less production and more layoffs 4) problems in the banking systems-banks made loans to investors in the stock market-b/c of the crash, borrowers could not repay loans. in a panic, many ppl went back to their panks to withdraw savings. banks were forced to close down when they could not give back all of depositor's money. |
WOCP
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why was this depression worse than any other?
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b/c of its length and severity-it was more severe than others b/c most of society was now urban and industril-farmers could at least grow some food for themselves
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what was the unemployment rate in 1929? by the end of 1932? WHAT HAPPENED TO those who had jobs?
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1929- 4%
1932-25% ppl w/ jobs- had to endure pay cuts and fewer hours |
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what happened to families during the depression?>
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-marriage and birth rates dropped
-families searched city dumps for food -children left home at 13 and 14 to find work to help their family |
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what did the homeless and jobless ppl do?
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many homeless and drifters tried to find work-many ppl rode in railroad freight cars or lived in shacks made out of scraps
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laissez-faire
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the economic policy of no government involvement
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what did hoover believe would come of the depression?
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he believed that a normal economic cycle would follow and gradually ease
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did hoover believe in laissez-faire?
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yes
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what did private charities do?
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called on by hoover, they helped needy americans. however, churches and humanitarian groups were overwhelmed by the increasing numbers of needy individuals
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when did hoover change his policies and why?
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toward the end of 1931 when the depression had not lifted?
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public works program
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set up by hoover where the government hires workers to construct schools, dams, and courthouses, etc.
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Reconstruction Finance Corporation
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set up by hoover-loaned money to railroads, banks, and some businesses
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when was the economy at its low point?
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3 years after the stock market crashed
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how did ppl blame hoover for the depression?
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hoover was mocked b/c of his failure to ease the depression-groups of homeless shacks were called "hoovervilles"
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bonus army
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world war I veterans that had a benefit bonus to come in 1945-20,000 jobless veterans marched to washington dc in 1932 to demand bonuses right away-they camped along the potomac river. the senate rejected a new bonus bill believing it would bankrupt the government. the marchers refused to move and the army had to remove them violently with tanks, machine guns, and tear gas. america was shocked and hoover lost even more support
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describe franklin delano roosevelt's background
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-came from wealthy well connected family
-married his cousin, elenor roosevelt, a niece of theodore roosevelt -was assistant secretary of the navy during WWI and vice presidential candidate in 1920 -struck w/ polio in 1921 which left his legs paralyzed-w/ his wife's help, he struggled to regain his strength and cud walk w/ leg braces and crutches -returned to public life and became governor of NY in 1928 |
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how did democrat roosevelt break the tradition of accepted a nomination
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he flew to the convention and accepted the nomination in person
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what did roosevelt promise?
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to help the jobless, the poor farmers, and the elderly
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what was the outcome of the election?
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he defeated hoover in a landslide and the democrats also gained many seats in congress
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what did roosevelt stress on inauguration day?
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optimism and that "the only thing we have to fear is fear itself"
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the brain trust
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the college professors who were experts on economic issues and from who roosevelt sought advice on ways to end the depression
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frances perkin
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appointed by roosevelt to secretary of labor-the first woman to be appointed to the cabinet
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the hundred days and its laws
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-the first hundred days of the new deal when 15 major laws were passed
ex. -a bank holiday-every bank closed in the country |
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Emergency Banking Relief Act (EBRA)
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part of new deal- only banks with enough finds to meet depositors demands could reopen
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Civilian Conservation Corps
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hired unemployed single young men to plant trees, build bridges, develop new parks, and other ways of conserving natural resources
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Federak Emergency Relief Administration (FERA)
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gave federal money to state and local agencies to distribute to the unemployed
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3 goals of the new deal laws
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1) relief for the unemployed
2 plans for recovery 3) reforms to prevent another depression |
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WOrks Progress Administration )WPA)
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set up in 1935-put the jobless to work building hospitals, schools, airports, etc. Writers and artists were alos hired to paint murals and collect info about american life
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National Industrial Recovery Act (NIRA)
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set up rules for production, wages, prices, and working conditions in order to prevent price cutting and layoffs
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National Recovery Administration (NRA)
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enforced the new codes or rules set up by the National Industrial Recovery Act-most companies ignored the codes)
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Public WOrks Administration (PWA)
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promosted recovery by hiring workers for thousands of projects such as dams, schools,and aircraft carriers-however it did little to bring about recovery
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Agricultural Adjustment Act (AAA)
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the government paid farmers not to grow certain crops and to plow surplus crops under the soil (helps overproduction)
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Federal Deposit Insurance Corporation (FDIC)
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insured savings accounts in banks approved by the government
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what did roosevelt do to end the wild speculation that led to the crash
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he asked congress to pass laws regulating the stock market
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Tennessee Valley Authority (TVA)
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tried to aid an entire region where more than half the people were on relief. the plan called for 40 dams to be built to control flooding,, river channels deepended, the planting of new forests, setting up sschools, and setting up health centers. the tva was very controversial.
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Huey Long
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a critic of the new deal who championed the poor and his motto was "share our wealth"
-he called for heavy taxes on the rich and promised to use tax money to provide every family w/ a house, car, and a decent annual income |
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francis townsend
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-wanted everyone over the age of 60 to get a pension of $200 a month. people receiving the pension would have to retire thus freeing a job for someone else
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Liberty League
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a conservative group that complained that the new deal had government interfering too much with business and with people's lives and was taking away basic freedoms
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What new deal laws were declared unconstitutional?
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-the national industrial recovery act-said it gave too much power to the federal government
-agricultural adjustment act -9 other new deal laws |
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why was roosevelt mad at the supreme court after they declared 11 of his laws unconstitutional?
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-felt the supreme court was threatening his ability to lead the nation
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was was roosevelts court packing plan
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-called for raising the number of supreme court justices from 9 to 15. then he could appoint 6 new justices that would support the new deal.
-his plan received little support b/c most ppl believed that it was a threat to the separation of powers so carefully set up by the constitution-FDR withdrew his proposal after most criticism |
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how did FDR geet the majority he wanted on the SUpreme court?
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one justice changed his views on the new deal and another retired and was replaced by a supporter of FDR's
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National Labor Relations Act/Wagner Act
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protected workers by guaranteeing the right to join a union and the right to collective bargaining
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collective bargaining
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the process in which a union representing a group of workers negotiates with management for a contract
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what group did the wagner act help??
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the wagner act helped union membership to triple during the 1930's
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Congress of Industrial Organizations
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-began by John L Lewis
-made union membership grow -represented whole industries such as the workers in steel or auto industries |
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what could unions do w/ more members?
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were more powerful and had more of a force in national politics
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Fair Labor Standards Act
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set up a minimum wage, maximum hours, and banned children under the age of sixteen from working in these industries
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Social Security Act
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-set up a system of pensions for older people
-set up a system of unemployment insurance -gave states money to support dependent children and people with disabilities |
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deficit spending
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-the governemnt spends more than it takes in-many worried aobut this
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why were ppl worried about the new deal
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-increasing size of federal government
-deficit spending -labor unions becoming too powerful |
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where did the duststorms take place
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states from texas to the dakotas
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what causes the dust storms
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-drought-the topsoil dried out and high winds carried soil away
-years of overgrazing by cattle and plowing by farmers destroyed the grasses that once held the soil in place |
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what was the effect of the duststorms?
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buried farmhouses and forced drivers to use headlights in daytime
-made farming impossible |
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dustbowl
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the area of the great plains were winds blew dust on and off for 10 years-an average of 50 dust storms per year
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why did women face special problems during the depression?
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-if jobs were available, employers including the federal governmnet would fire men before they would hire women. still millions of women earned wages to support themselves and their families
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why was eleanor roosevelt an active first lady
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she acted as the eyes and ears of the president while she talked to the unemployed and the poor. she had her own career and was a reformer who believed in equal justice for all. she spoke out often on social issues
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Black Cabinet
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the black leaders FDR invited to advise him
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why did african americans have hard times during the depression
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they were the first to lose their jobs-often they were denied public works jobs and turned away at relief centers-eleanor roosevelt tried to improve their situation
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robert weaver
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an economist in the black cabinet
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mary mcLeod bethune
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a well known educator in the black cabinet
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what did the black cabinet press on the president?
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they pressed him to support an antilynching law but he didnt b/c he didnt want to lose the support of the south
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how did mexican americnas face discrimination
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-they faced discrimination in education, jobs, and at the polls
-when the depression came they were sent back to mexico -were paid low wages and many worked as migrant workers |
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what kind of discrimination did asian americans face?
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the gov. sought to reduce the number of asians in the u.s.
-additional laws were passed restricting the number of asians who could enter the u.s. |
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repatriation act
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provided free transportation for Filipinos who agreed to return to the philipines
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what were native americans granted in 1924?
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citizenship
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what new policies in the new deal helped native americans?
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they gave them greater control over their own affairs
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Indian Reorganization Act
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protected and even expanded land holdings of Indian Reservations
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Emergency Conservation Work Group
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eomplyed native americans in programs of soil erosion control, irrigation, and land development
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how did americans escape the ahrd times of the 1930's?
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they listended to the radio and went to movies-movies told stories about happy families in comfortable surroundings
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grapes of wrath
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book by john steinbeck that told the heartbreaking story of the okies
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richard wright
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described racial violence in Uncle TOm's Children
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Dorothea Lange
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showed the suffering of the Dust Bowl farm families in her photos
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where were the hardest hits of the dustbowl?
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in oklahoma and arkansas- the okies and arkies packed their belongings and traveled hoping to find work in cali. or become migrant workers
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migrant workers
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people moving from one region to another in search of work
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securities and exchange commision
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an angency that watches over the stock market preventing fraud and guarding against economic collapse
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relief
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short term action for the enemployed and needy
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recovery
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laws to stimulate production and to rebuild people's buying power
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reform
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laws to make sure that htis type of depression would never happen again
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