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Herbert Hoover was president from 1929 to 1933, a period dominated by the Great Depression, which began soon after he took office. He believed in limited government and relied on businesses, local governments, and charities to provide relief instead of direct federal aid. Many Americans didn’t like his response and felt like it was inadequate.
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The stock market crash was a rapid and severe drop in stock prices across a broad segment of the market. The crash prompted the erosion in the U.S. banking system, triggering the Great Depression.
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Over 9,000 banks failed, clearing out billions in depositors' savings because there was no deposit insurance. Deflation forced banks, firms, and debtors into bankruptcy.
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Worst man-made disaster in American history. A severe drought combined with poor farming practices and economic depression led to severe wind erosion of the topsoil. The biggest cause of the Dust Bowl was poverty, which led to poor agricultural techniques, extremely high temperatures, long periods of drought, and wind erosion.
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They were makeshift shantytowns where homeless people lived. They were poorly constructed dwellings. They built their homes with materials such as scrap wood, tin, cardboard, and even dug-out holes with coverings.
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The Smoot-Hawley Tariff Act was passed in 1930. It was a U.S. law that raised tariffs on imported agricultural and manufactured goods to protect domestic industries and increase prices for American farmers.
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The Scottsboro Boys case was where 9 young African American men were falsely accused of raping 2 white women on a southern railroad freight train in northern Alabama. This case marked the first stirrings of the civil rights movement and led to two landmark Supreme Court rulings that established important rights for criminal defendants.
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The Bonus Army was a group of veterans who marched into Washington, d.c, in 1932 to demand early payment of a promised military bonus. The government refused to pay them, but that didn’t stop the veterans; they set up camp near the capital. When the protest grew, President Hoover ordered troops to clear them out, which turned violent and hurt his popularity.
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The black cabinet was an unofficial group of African American leaders and federal employees who counseled FDR during his administration. They worked to ensure that the interests of Black communities were represented in the New Deal programs and federal policy.
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President Roosevelt was known for being one of the greatest leaders, having led the nation through the Great Depression and World War II. He introduced the New Deal, a series of programs and reforms that expanded the federal government’s role in providing jobs, relief, and economic recovery. His leadership restored public confidence and made him the only U.S. president to serve 4 terms.
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Bank Holiday was a temporary, nationwide closure of banks in the United States. President Franklin D. Roosevelt ordered to stabilize the banking system during the Great Depression.
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The first fireside chat was delivered by Roosevelt during the banking crisis. He calmly explained that the banks had been temporarily closed and reassured Americans that their money was safe. His clear, friendly tone restored public confidence and trust, and many people redeposited their savings the next day.
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FDIC stands for Federal Deposit Insurance Corporation. It was created to restore public confidence in the nation's financial system. The primary function was to ensure deposits at member banks, ensuring that depositors' money was protected.
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This act is also known as the Wheeler-Howard Act, and was a significant piece of U.S. legislation that reversed federal assimilation policies and ended the detrimental allotment process. This act also helped restore land that was lost during allotment and purchase new lands for tribal ownership. It promoted self-government as well.
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Was passed to relieve unemployment and stimulate the release of private credit in the hands of banks and lending institutions for home repairs and construction.
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To provide economic protection against unemployment and the hazards of life, create a social insurance program for retired workers, and establish unemployment insurance. It was a key part of President Roosevelt's New Deal.