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U.S. History

U.S. History. March 22 nd , 2012 Review. ___1.bull market ___2.buying on margin ___3.bear market ___4.Black Thursday ___5.Black Tuesday ___6.Great Depression A. market with falling stock prices B. market with rising stock prices C. economic downturn D. buying stocks on credit

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U.S. History

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  1. U.S. History March 22nd, 2012 Review

  2. ___1.bull market • ___2.buying on margin • ___3.bear market • ___4.Black Thursday • ___5.Black Tuesday • ___6.Great Depression • A. market with falling stock prices • B. market with rising stock prices • C. economic downturn • D. buying stocks on credit • E. day on which the stock market lost $9 billion by noon • F. day on which the stock market collapsed

  3. TRUE/FALSE • Banks were not hurt by the Great Depression because they had not invested in stocks. ____ • Without funds, many businesses could not keep operating and closed down. ____ • President Hoover agreed to the demands of the ‘Bonus Army.’ ____ • President Hoover believed that the government had a responsibility to provide relief. ____

  4. TRUE/FALSE • Most Americans felt that President Hoover could solve the depression. ____ • President Hoover failed to recognize how serious the depression was. ____

  5. NOTES Review

  6. New Deal: Name given to all of FDR’s programs • Bank Holiday: temporarily closed all banks until they were stable – financially sound • Hundred Days: congress passed 15 major acts to help economic crisis • Fireside Chats: direct talks FDR held with the American people (on the radio) • Securities and Exchange Commission (SEC): regulate stock market and prevent fraud • FDIC: government insurance for bank deposits (1933 -- $2500…. 2012 -- $250,000) • AAA: pay farmers not to raise certain livestock or not to grow certain crops

  7. CCC: single men (18 -25 yrs) for jobs in natural conservation – planting trees, building reservoirs, fighting forest fires • HOLC: bought mortgages from people who were behind in payments – lower interest rates, give longer time to repay (lower monthly payments) • FCA: helped farmers refinance mortgages (farms) • TVA: built hydroelectric dams, brought in new industries (construction projects) • TN, KY, VA, NC, GA, AL, MS

  8. NRA: controlled industrial production and prices with codes of fair competition – minimum wage, shorter hours • FOUND UNCONSTITUTIONAL • PWA: construction projects to improve roads, highways, bridges, + dams • Awarded contracts to construction companies • FERA: federal $ channeled to state & local governments (to fund state relief projects) • Major goal: create as many jobs as possible

  9. CWA: government hired workers directly – 4 million hired and put on govt. payroll (300,000 women) • Airports, sewers, roads, schools, playgrounds

  10. Second New Deal Programs • WPA: “useful projects” • Highways, roads, bridges, airports • Federal Project Number One: artists, musicians, writers, actors • REA: brought electricity to isolated agricultural areas • **Social Security Act: created unemployment system, old-age pensions, disability insurance, child welfare benefits

  11. National Labor Relations Act: guaranteed workers the right to organize unions without interference from employers = collective bargaining • Public Utility Holding Company Act: eliminated unfair practices and abuses of utility companies (gas + electric) • Banking Act: strengthened the Federal Reserve

  12. Resettlement Act: assisted poor families and sharecroppers in beginning new farms or purchasing land • National Housing Act: subsidize loans for builders willing to buy blocks of slums and build low cost housing • Subsidized loan: where the buyer does NOT pay interest • EX: buying a car over time with NO APR (annual percentage rate) figured in

  13. FSA: give loans to tenant farmers so they could purchase their own farms • Tenant farmer: resides on and farms land owned by a landlord • Fair Labor Standards Act: more protection for workers abolished child labor (40 hr work week established)

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