Question 1

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term. Black Thursday

Accepted Answer

Black Thursday refers to October 24, 1929, which marked the beginning of the Wall Street Crash of 1929. On this day, the New York Stock Exchange experienced a devastating sell-off that was a prelude to the Great Depression. The term "Black Thursday" is used to denote the dark and negative impact of that day on the economy and the stock market.

On Black Thursday, a record number of shares were traded, and the ticker tape machines that provided stock prices to brokers couldn't keep up with the volume of sales. Investors panicked as they watched stock prices plummet, and many tried to sell their holdings at any price. The market lost 11% of its value at the opening bell, which prompted a group of bankers to pool their resources in an attempt to stabilize the market by buying up blue-chip stocks.

Despite these efforts, the market continued to fall, and the collapse continued into the following week, culminating in another catastrophic drop on October 29, 1929, known as Black Tuesday. The crash wiped out billions of dollars of wealth and was a major factor in the onset of the Great Depression, a severe worldwide economic downturn that lasted throughout the 1930s.

The significance of Black Thursday lies in its role as the start of a financial crisis that would have profound and lasting effects on the United States and the world. It led to widespread bank failures, massive unemployment, and a dramatic contraction of the economy. The Great Depression prompted major reforms in the U.S. financial system, including the creation of the Securities and Exchange Commission (SEC) to regulate the stock market and prevent such a crash from happening again.

Question 2

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term. Frances Perkins

Accepted Answer

Frances Perkins was the first woman to serve in a presidential cabinet, as the Secretary of Labor under President Franklin D. Roosevelt from 1933 to 1945. She played a crucial role in shaping the New Deal policies and was instrumental in the creation of Social Security and the Fair Labor Standards Act. Perkins was a key figure in advancing labor rights and improving working conditions, and her legacy continues to have a lasting impact on American society. She was a trailblazer for women in government and a champion for social and economic justice.

Question 3

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term. Franklin Delano Roosevelt

Accepted Answer

Franklin Delano Roosevelt, commonly known by his initials FDR, was the 32nd President of the United States, serving an unprecedented four terms in office from March 4, 1933, to April 12, 1945. He was a member of the Democratic Party and is one of the most prominent leaders in American history due to his leadership during two of the 20th century's most severe crises: the Great Depression and World War II.

Born on January 30, 1882, in Hyde Park, New York, Roosevelt was a member of the influential Roosevelt family and a distant cousin of the 26th President, Theodore Roosevelt. He attended Harvard College and later Columbia Law School, though he did not complete his law degree. He entered politics in New York State and was elected to the New York State Senate in 1910.

Roosevelt served as Assistant Secretary of the Navy under President Woodrow Wilson during World War I, a role that gave him valuable experience in government and military affairs. In 1921, at the age of 39, he was stricken with poliomyelitis (polio), which resulted in permanent paralysis of his legs. Despite his disability, he remained active in politics and was elected Governor of New York in 1928.

His presidency began during the depths of the Great Depression, and he implemented a series of programs known as the New Deal. The New Deal was a series of projects and programs aimed at providing relief for the unemployed, recovery of the economy, and reform of the financial system to prevent a future depression. Key elements of the New Deal included the creation of the Social Security system, the Securities and Exchange Commission (SEC), the Federal Deposit Insurance Corporation (FDIC), and various other programs designed to stimulate economic recovery and provide a safety net for Americans.

Roosevelt's leadership style and his Fireside Chats, radio broadcasts in which he spoke directly to the American people, helped to restore public confidence. His ability to communicate and connect with citizens was a significant factor in his political success.

During World War II, Roosevelt played a central role in organizing the Allied effort against the Axis powers. He worked closely with leaders such as Winston Churchill and Joseph Stalin to develop military strategy and post-war plans. Under his leadership, the United States became the "Arsenal of Democracy," supplying materiel to the Allies and eventually entering the war after the Japanese attack on Pearl Harbor on December 7, 1941.

Roosevelt's health declined during the war, and he died on April 12, 1945, just months into his fourth term and shortly before the end of the war in Europe. He was succeeded by his Vice President, Harry S. Truman.

Roosevelt's legacy includes his expansion of the role of the federal government in the economy and the creation of a welfare state through the New Deal programs. His leadership during World War II and his role in establishing the United Nations are also significant aspects of his contributions to world history. Roosevelt is consistently ranked by scholars as one of the greatest U.S. Presidents for his leadership during times of economic crisis and war.

Question 4

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term. Reconstruction Finance Corporation

Accepted Answer