Chapter 23 Review Questions

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The American Yawp Chapter 23 – The Great Depression 1. What percent of Americans were investing in the stock market prior to the crash? a. 2.5% “The stock market’s popularity grew throughout the decade, but only 2.5 percent of Americans had brokerage accounts; the overwhelming majority of Americans had no direct personal stake in Wall Street.” P.194 2. Which group of Americans benefitted the least from the economic changes of the 1920s? b. Southern farmers “In 1929 the average per capita income in the American Southeast was $365, the lowest in the nation. Southern farmers averaged $183 per year at a time when farmers on the West Coast made more than four times that.” P.210 3. What was the consequence of the Smoot-Hawley Tariff of 1930? d. international trade collapsed “Spurred by the ongoing agricultural depression, Hoover signed into law the highest tariff in American history, the Smoot-Hawley Tariff of 1930, just as global markets began to crumble.” P.195-196 4. How did the Federal Reserve respond to the financial collapse? a. Overcorrected by raising interest rates and tightening credit “The Federal Reserve overcorrected in their response to speculation by raising interest rates and tightening credit” P.196 5. What is the definition of Herbert Hoover’s “Associationalism?” c. A system where businesses would voluntarily limit harmful business practices for the greater economic good “a system of voluntary action called associationalism that assumed Americans could maintain a web of voluntary cooperative organizations dedicated to providing economic assistance and services to those in need. Businesses, the thinking went, would willingly limit harmful practice for the greater economic good. To Hoover, direct government aid would discourage a healthy work ethic while associationalism would encourage the self-control and self-initiative that fueled economic growth.” P.198 6. What was the Bonus Army? d. A group of World War I veterans who petitioned the government to make an early payment on bonuses scheduled to be released in 1945 “In the summer of 1932, Congress debated a bill authorizing immediate payment of long- promised cash bonuses to veterans of World War I, originally scheduled to be paid out in 1945.” P. 199

7. The environmental catastrophe of the Great Depression was partly the result of agricultural mismanagement. Which of the following was the most consequential example of this mismanagement? a. Farmers plowed up natural ground cover to grow more crops, cover that had taken ages to form in the relatively dry sates of the Plains “Beginning in 1932, severe droughts hit from Texas to the Dakotas and lasted until at least 1936. The droughts compounded years of agricultural mismanagement. To grow their crops, Plains farmers had plowed up natural ground cover that had taken ages to form over the surface of the dry Plains states” P.202 8. Which of the following statements regarding immigration during the Great Depression is true? a. More people left the United States than entered it during the Great Depression “Under the New Deal, the Immigration and Naturalization Service halted some of the Hoover administration’s most divisive practices, but with jobs suddenly scarce, hostile attitudes intensified, and official policies less than welcoming, immigration plummeted and deportations rose. Over the course of the Depression, more people left the United States than entered it” P.206 9. Upon assuming office, how did Roosevelt respond to the collapsing bank system? b. Declared a bank holiday and then pushed through the Emergency Banking Act “He declared a national “bank holiday” closing American banks and set to work pushing the Emergency Banking Act swiftly through Congress.” P.208 10. Roosevelt tried to create relief for American farmers through the Agricultural Adjustment Act (AAA). What did the AAA do? a. Aimed to raise the prices of agricultural commodities by offering cash incentives to voluntarily limit farm production, thereby increasing prices “The AAA, created in May 1933, aimed to raise the prices of agricultural commodities (and hence farmers’ income) by offering cash incentives to voluntarily limit farm production (decreasing supply, thereby raising prices).” P.209 11. What did the Works Progress Administration do? b. Put unemployed men and women to work on projects designed and proposed by local governments “ The Civil Works Administration (CWA) and, later, the Works Progress Administration (WPA) put unemployed men and women to work on projects designed and proposed by local governments.” P.209

12. What was the most dramatic result of the 1938 Fair Labor Standards Act? d. The creation of a national minimum wage “Those gains were eventually solidified in the 1938 Fair Labor Standards Act, which set a national minimum wage of $0.25/hour (eventually rising to $0.40/hour). The minimum wage disproportionately affected low-paid southern workers and brought southern wages within the reach of northern wages.” P.211 13. Louisiana Senator Huey long criticized Roosevelt’s New Deal programs for _____________ b. Failing to redistribute wealth “Senator Huey Long, a flamboyant Democrat from Louisiana, was perhaps the most important “voice of protest.” Long’s populist rhetoric appealed to those who saw deeply rooted but easily addressed injustice in the nation’s economic system. Long proposed a Share Our Wealth program in which the federal government would confiscate the assets of the extremely wealthy and redistribute them to the less well-off through guaranteed minimum incomes.” P.214 14. Which of the following actions did FDR take to advance civil rights for African Americans? d. None of these occurred “The government relied on landowners and local organizations to distribute money fairly to those most affected by production limits, but many owners simply kicked tenants and croppers off their land, kept the subsidy checks for keeping those acres fallow, and reinvested the profits in mechanical farming equipment that further suppressed the demand for labor. Instead of making farming profitable again, the AAA pushed landless southern farmworkers off the land.” P.211 15. What was FDR’s “court-packing scheme” c. An attempt to appoint up to six new justices who would be friendly to his interests “Roosevelt argued that the measure would speed up the Court’s ability to handle a growing backlog of cases; however, his “court-packing scheme,” as opponents termed it, was clearly designed to allow the president to appoint up to six friendly, pro–New Deal justices to drown the influence of old-time conservatives on the Court.” P.219 Did the federal government have a responsibility to help those hurt most by the Great Depression? Why or why not? During the great depression the U.S. government took steps toward intervening in the economy and to provide reformations. Under Roosevelt’s administration, there was the belief that the government did have the responsibility to help people in need. This led to the New Deal, which led to a lot of policies that helped relief the unemployed and poor, and to aid in recovery of the economy. P.206-209

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Was the “New Deal” a new deal for all Americans? The New Deal was a huge mark in the change of the role of the federal government, but its benefits were not equally for all Americans. The New Deal did not benefit racial minorities and women as it did for white men. The new Deal interfered with free markings and created culture dependency. IT did not go far enough to redistribute wealth to better the economic system. P.209-214

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