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U.S. FEDERAL RESERVE & MONEY SUPPLY The Federal Reserve allowed the money supply in the United States to shrink by one-third from 1929 to 1933 Helps cause large banks such as the Bank of the United States to fail People began to panic Businessmen were not able to get new loans The Seal of the United States Federal Reserve System
HOOVERVILLES Named after former United States President Herbert Hoover Hoovervilles were names given to small, rundown towns in the United States during the Great Depression. Hundreds of tiny shacks and tents populated the Hoovervilles, which were comprised of people who had lost most of their possessions., people who dwelled in the Hoovervilles would sleep anywhere. Even though the lands were on private property most of the time, the authorities would allow the people to stay there, mostly because they had nowhere else to go. Many different terms came out of the Hoovervilles, such as the “Hoover wagon,” which was a car with horses tied to it. A Hooverville near Portland, Oregon
FDR & THE NEW DEAL PROGRAMS Known as Alphabet Soup Agencies