Ch 22 Flashcards
What industries made little profits in the 20s?
Coal, framing, and steel
What happened when farmers defaulted?
They lost their property and rural banks failed
This is a bill that would maintain a price at a certain level by the government
Price supports
What happened because of credit?
People lived beyond their means… Buy now and pay later
How was the wealth distribution uneven?
The rich get richer and the poor get poorer
This man was the 1928 D candidate
Alfred E. Smith
This man was the 1928 R candidate who won
Herbert Hoover (1929-1933)
How did Hoover win the office?
The republican success of the 20s (the stock market)
This is a measure of 30 large firms trading in the NYSE
Dow Jones Industrial Average
This is a period of rising stock price
Bull market
This is a risky transaction to try and make a quick profit
Speculation
This is paying a small percent of a stock price as a down payment and borrowing the rest
Buying on a margin
This was the day the stock prices fell drastically and lowered confidence
Black Tuesday oct. 29, 1929
This was a period when the economy worsened and unemployment rose
Great Depression 1929-1940
What was the unemployment rate during the depression?
25%
This was the highest tariff in US history
Hawley-Smoot Tariff Act
What factors cut down the market for US goods?
The tariff, war debt, and politics
This is a neighborhood of makeshift shacks
Shantytown
This is where free or low cost food is served to the needy
Soup kitchen
This is a line of people waiting for free food
Bread line
This is a region of the Midwest that was worthless to farming during the 30s
Dust bowl
What mad dust bowl land useless?
The drought and dust storms
What states composed the dust bowl?
KS, OK, TX, NM, CO
This is a direct payment for food by the government not provided in the depression
Direct relief
What caused malnutrition in kids?
Poor diets and lack of healthcare
Why did children return to sweatshops?
The schools closed
These are children who toured the country for free on boxcars
Hoover tourists
How much did the suicide rate rise between 1928 and 1932?
30%
What were people forced to do during the depression?
Accept compromises and make sacrifices
What did the focus of that generation shift to?
Financial security
This is a dam built on the Colorado river, authorized in 1929, finished in 1936
Boulder dam
What did boulder dam get renamed to?
Hoover dam
What did Hoover dam do for the economy?
Stimulate business and provide jobs
What purposes does hover dam serve?
Provide electricity, flood control, and water for drinking and agriculture
How did hovers image change as the depression worsened?
People did not like him
This is an alias for a shantytown
Hooverville
These were a name for the newspapers that homeless people used
Hoover blankets
These are empty pockets flipped inside out
Hoover flags
What were hoover’s 2 public assistance programs?
Federal home loan bank act and the reconstruction finance corporation
What did the federal home loan bank act do?
Lowered mortgage rates for homeowners and allowed farmers to refinance loans
What did the reconstruction finance corporation do?
Provided emergency money for banks, railroads, and large businesses. The money was intended to trickle down to average citizens through job growth
These were 10k-20k WWI vets and their families who marched to DC demanding an early payment for a promised 1945 bonus
Bonus army
What happened with the bonus army?
The early payment was voted down and most left
What happened to the remaining bonus army vets?
1k were gasses and burned in their Hooverville
How did farming fail>
Food surplus, dropping prices, lowered demand, and farmers mortgaging land to make more food
