Chapter 22 Flashcards
During the Great Depression, when a bank collapsed -
a) the government stepped in to run the bank
b) the government covered the bank’s debts
c) the government repaid deposits on insured accounts only
d) depositors lost their savings
d) depositors lost their savings
A major reason for Herbert Hoover’s landslide victory in the 1928 election was -
a) the prosperity of the 1920s
b) his tax relief plan
c) his promise to end Prohibition
d) his plan to support farm prices
a) the prosperity of the 1920s
During the Depression, many unemployed people -
a) destroyed “Hoovervilles”
b) lived in federal housing
c) collected unemployment
d) road the rails
d) road the rails
The first feature-length animated film was -
a) Animal Crackers
b) The Wizard of Oz
c) Snow White and the Seven Dwarfs
d) Mr. Smith Goes to Washington
c) Snow White and the Seven Dwarfs
The purpose of the Reconstruction Finance Corporation was to -
a) regulate the stock market
b) manage public works projects
c) make loans to banks, railroads, and agricultural institutions
d) administer public assistance programs for the unemployed and the homeless
c) make loans to banks, railroads, and agricultural institutions
What severely dampened commerce on both sides of the Atlantic and intensified the Depression in the United States -
a) the bull market
b) the Federal Reserve
c) Black Thursday
d) the Hawley-Smoot Tariff
d) the Hawley-Smoot Tariff
October 29, 1929, the day when stock prices took the steepest dive of that time, is known as -
a) Black Thursday
b) Black Tuesday
c) Bloody Monday
d) Panic Tuesday
b) Black Tuesday
Beginning in 1932, America’s pastures and wheat fields form the Dakotas to Texas became a vast -
a) “Bread Basket”
b) “Dust Bowl”
c) mud basin
d) prairie
b) “Dust Bowl”
Many families on the Great Plains packed their belongings into old cars or trucks and headed west, hoping for a better life in -
a) the cities
b) the mountains
c) California
d) New Mexico
c) California
Most people during the Depression were able to enjoy two popular forms of entertainment: the movies and -
a) sailing
b) television
c) travel
d) radio
d) radio
Daytime radio dramas were sponsored by makers of laundry soap and nicknamed -
a) soap operas
b) laundry stories
c) guiding lights
d) detergent dramas
a) soap operas
Hoover believed that only state city governments should dole out -
a) loans
b) relief
c) work programs
d) soup kitchens
b) relief
People who moved West from the Great Plains to find jobs were called -
a) tenant farmers
b) Okies
c) homeless
d) immigrants
b) Okies
During the 1920s, many people bought expensive items using -
a) credit cards
b) bank loans
c) cash
d) the installment plan
d) the installment plan
The National Credit Corporation tried to rescue troubled banks using -
a) tax money
b) money from New York bankers
c) deficit spending
d) money borrowed from foreign banks
b) money from New York bankers
_______ invested in stocks, betting that the market would continue to climb so that they could make a quick profit
speculators
A long period of rising stock prices is known as a ________
bull market
A period of falling stock prices and sales is called a _____ market.
bear market
During the Depression, charities set up ________ to give poor people a meal.
soup kitchens
Newly homeless people put up communities of shacks that they called “____________”, blaming the president for their plight.
Hoovervilles
During the Depression, people who moved around the country by slipping into open boxcars on freight trains for a ride were called ______.
hobos
Many people lost their farms through __________
foreclosure
Made photographs of Depression Era scenes and people
Dorothea Lang
Made the first non-stop flight across the Atlantic
Charles Lindberg
was convicted of kidnapping the Lindberg’s baby
Bruno Hauptman
was President when the Depression began
Herbert Hoover
wrote The Grapes of Wrath, which was about a family fleeing the Dust Bowl
John Steinbeck
used a method of writing called stream of consciousness
William Faulkner
was sent to clear veterans out of Washington; led the troops that dispersed the Bonus Army
Douglas MacArthur
painted American Gothic
Grant Wood
Name the immediate cause, and explain the underlying causes of the Depression
- Most economists agree that OVERPRODUCTION was a key cause of the Depression. Efficient machinery sped up production of factory and farm goods. Americans didn’t earn enough to buy up the flood of goods produced. As consumers bought more on the installment plan, the debt forced some to reduce their other purchases. As sales slowed, manufacturers cut production and laid off employees. Not having jobs cause people to cut back more on purchases which caused business activity to spiral downwards.
A second cause was the loss of export sales. The Hawley-Smoot Tariff dampened foreign sales in the US and caused foreign countries to buy fewer American products.
A third cause was mistakes by the Federal Reserve - instead of raising interest rates to curb excessive speculation, it lowered taxes. This encouraged banks to make risky loans and encouraged businesses to borrow more money to expand production which added to the problem of overproduction.
Explain what the Bonus Army was, why they marched on Washington, whether they were successful, and what happened to them as a result.
The bonus army was a group of WWI veterans from Oregon who marched to Washington to lobby Congress to pass a bill that would allow them to receive their $1,000 bonus early. When the bonus army reached Washington, they camped in Hooverville’s. The bill WAS passed by the House of Representatives, and sent to the Senate. The bill WAS NOT passed so some went home while others stayed because they had no job and nothing to return home to. President Hoover ordered the police to clean out the buildings. While doing this, one of them panicked and fired killing two veterans. Douglas McArthur then sent in the cavalry, infantry, and tanks to clear out the buildings.
Bonus answer:
Nixon and Hoover
Most economists agree that a key cause of the Depression was -
a) overconsumption
b) overproduction
c) inflation
d) deflation
b) overproduction
President Hoover opposed direct federal relief to the unemployed because he believed that -
a) only state and city governments should dole out relief
b) the Depression would end soon
c) charities could provide sufficient relief until the economy improved
d) individuals should be responsible for taking care of themselves
a) only state and city governments should dole out relief
When many people decide to withdraw their money from the bank at one time, a/an ____ occurs -
a) panic
b) depression
c) bank run
d) overrun
c) bank run
Alfred E Smith endured a smear campaign in the 1928 election because -
a) he was a Quaker
b) he was a Mormon
c) he was Catholic
d) he was Jewish
c) he was Catholic
The great stock market crash occurred on ________
October 28, 1929.
Buying on a 10% margin, investors could buy stock worth _______ with $1,000 of their own money.
$10,000
The group of World War I veterans who marched on Washington in 1932 was called the ________
Bonus Army