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Great Depression (Presidents Herbert Hoover and FDR (Rugged Individualism,…
Great Depression
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Acts and Administrations
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Reconstruction Finance Corp: a government lending bank (gave loans to banks, insurance companies, and municipalities)
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Glass-Steagall Banking Reform Act: provided the Federal Deposit Insurance Organization (FDIC) which insured individual deposits up to $5000 ---> eliminated bank failure
Civilian Conservation Corps: provided employment in fresh-air government camps for about 3 million uniformed young men
Works Progress Administration: put $11 million on thousands of public buildings, bridges, and hard surfaced roads and gave 9 million people jobs
National Recovery Administration: designed to assist industry, labor, and the unemployed
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Causes
Stock Market Crash: caused by over-speculation and overly high stock prices built on non existent credit
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