Chapter 15 (The Great Depression) Flashcards
Hooverville
A town of shacks made out of scrap(The name was to make fun of Hoover for not doing anything about the economy)
Black Tuesday
October 29th, 1929 16.4 million shares were sold.
Business cycle
A cycle in which the economy grows and then contracts.
21st Amendment
Prohibition of alcohol
Hawley-Smooth Tariff
America raised its import/export tax to protect American industries but failed, causing Europe to raise its taxes.
Bonus Army
Veterans were promised a bonus penchant but were refused and were driven out by General MacArthur.
Eleanor Roosevelt
First Lady/ Roosevelt’s Wife (Distant cousin of Franklin) She worked for the Public housing legislation, state government reform, birth control, and better conditions for working women. Political worker and social reformer.
Hoover
President from 1929-1933 Republican and not generally liked by most Americans after the Great Crash.
John Menard Keynes
British Economist that argued massive government spending could help a collapsing economy.
1920’s Economics
It was unstable since wealth was unevenly distributed. People would buy stocks with borrowed money with is called margin buying. The Federal Reserve System (Which regulates the amount of money in circulation cut interest rates to spur economic growth but then limited money to discourage lending.
Stock Market Crash
Economy was unstable which led to a stock crash
Dust Bowl
Southern plains that due to drought were easily clown away.
Minority jobs during the great depression
Many were taken away from white men who lost their office jobs that were now looking for labor jobs.
Roosevelt’s Philosophy on fixing the economy
Relief, recovery, and reform
Hoover’s Philosophy on fixing the economy
That it would fix itself and if the government stepped in it would make citizens not want to work.
Farmer’s in the 1920s
Low crop prices and need to buy expensive equipment caused constant and extreme poverty
Overproduction of goods in the 1920s
Produced more goods than they could sell since many consumers couldn’t buy goods.
African Americans in the 1930s
Moto was “Last hired first fired”
Dow Jones Industrial Average
Benchmark index of stocks.
Dorothea Lange
American Photographer that influenced the development of documentation Photography and humanized the consequences of the Great Depression.
“New Deal”
Series of programs like public work projects, financial reforms, and regulations enacted by Roosevelt.
Bank Run
When people found out banks were losing money citizens ran to deposit their savings.
