Exam 2 pt5 Flashcards
Who was nicknamed “Silent Cal” and why?
Calvin Coolidge because when the press asked him a question, he replied with a one worded answer.
What did the Kellogg- Briand pact say? Who violated the treaty? Did it work?
They will never use war to advance their national agendas. Japan, Germany, England, France, and Italy use war to advance their agendas. No, it didn’t prevent WW2.
What treaty did Calvin Coolidge make? Who was it signed with?
Kellogg – Briand Pact was signed with England, France, Germany, Italy, Japan and China
Who spent his entire presidency trying and get out of the Great Depression?
Herbert Hoover
Why did the Prosperity cycle go down?
When people were not buying much product, workers got fired, wages weren’t used to buy items and cut back production.
The businesses try and find ways to cut cost by having machines do the work to enhance profits is called?
Technological Innovations
For agriculture what did farmers do?
Take out loans from banks to buy more land to grow more crops and now we have overproduction and can’t pay back loans.
What happened with the bank loans?
Banks gave out too many loans and did not do background checks to make sure loans could be paid back.
Overproduction in agriculture, industrial sector and banks loans is why what started to happen?
banks started to fall out
What happened to the stocks?
People put paychecks into stock markets and when the stock market crashed their lifesavings did as well. Suicides happen when they have no money to survive on.
What is it called when some parts of United States didn’t have access to wealth or jobs?
Misdistribution of wealth
Banks shut down, jobs, and our economy went down on October 20, 1929. What day is this known as?
Black Tuesday
What percentage of the nation’s banks shut down? / What is the highest unemployment rate? / How many people are homeless in America?
40%/25%/ 1 out of 4
USA loans money to Germany to charge interest and Germany used the money to pay back England and France. Germany is the first European nation to experience the great depression. Then England and France and then Europe collapse, then Asian markets collapse. Now the entire world is shut down. What plan is this called?
Dawes Plan
What is Hoovers phrase on the radio when referring to the great depression? / Does Hoover think the government should play a role in economic affairs?
” Crisis of Confidence” / no