Section 1

Question 1

When did the stock market crash?

Answer 1

7 months after Herbert Hoovers inauguration in 1929.

Question 2

What was the Great Depression?

Answer 2

The worst economic depression in the United States history.

Question 3

Who didn’t share the prosperity of the 1920s?

Answer 3

Textile workers and coal miners.

Question 4

Farmers face hard times. What kept farm prices low?

Answer 4

Overproduction.

Question 5

In the mid-1920s, the economy began to slow down, but no one noticed because at that time the government did what?

Answer 5

They did not keep detailed statistics.

Question 6

By August 1929, some investors worried that the boom might end, so what did they do?

Answer 6

They began to sell their stocks.

Question 7

Many investors had bought stocks on…?

Answer 7

Margin.

Question 8

With prices falling, brokers asked investors to what?

Answer 8

Pay what they owed.

Question 9

What happened to those who could not pay what they owed?

Answer 9

They had to sell their stock to get money.

Question 10

Panic set in as desperate investors tried to do what?

Answer 10

They tried to sell millions of shares.

Question 11

What did this make stock prices do?

Answer 11

Fall even further.

Question 12

When the stock market open on Tuesday, October 29, what took place?

Answer 12

A wild stampede of selling.

Question 13

What happened on Black Tuesday?

Answer 13

Stock prices plunged and stocks that had been valuable were now suddenly worthless.

Question 14

What was the period of economic hard times that followed the crash on Black Tuesday?

Answer 14

The Great Depression.

Question 15

How long did the Great Depression last?

Answer 15

1929 to 1941.

Question 16

The stock market crash did not cause the Great Depression, but what did it do?

Answer 16

It shook peoples confidence in the economy.

Question 17

What were the two factors that caused the Great Depression?

Answer 17

Over production in farms and factories, and weakness in the banking system.

Question 18

Farms and factories produced vast amounts of goods in the late 1920s, but what didn’t keep up?

Answer 18

Wages did not keep up with prices.

Question 19

When wages couldn’t keep up with prices, what could workers not do?

Answer 19

Workers could not afford to buy many goods.

Question 20

What happened as orders slowed?

Answer 20

Factories closed or laid off workers.

Question 21

In the 1920s, what unwise things did the bank make?

Answer 21

Unwise loans.

Question 22

What is an example of an unwise loan?

Answer 22

They lent money to people to buy stocks, and when the stock market crashed, borrowers could not repay the loans.

Question 23

Without money from the loans, what happened?

Answer 23

Banks could not give depositors their money back if they asked for it.

Question 24

Between 1929 and 1932, how many banks closed?

Answer 24

More than 5,000.

Question 25

The stock market crash ruined many investors because without money from investors businesses couldn't do what?

Answer 25

Grow and expand.

Question 26

Why couldn't businesses borrow from banks?

Answer 26

They were in trouble.

Question 27

As factories cut back production, what two things did they do?

Answer 27

They cut wages and laid off workers.

Question 28

Unemployed workers had little money to spend, so what demand fell further?

Answer 28

The demand for factory goods.

Question 29

What happened to many businesses so even more people lost jobs?

Answer 29

They went bankrupt, or they weren't able to pay their debts.

Question 30

The Great Depression led to a worldwide economic crisis because American banks had what?

Answer 30

Loaned money worldwide.

Question 31

What happened when American banks stopped making loans and demanded repayment of loans?

Answer 31

Banks in other countries began to fail.

Question 32

In the 1930s, many Americans no longer lived on farms and lived where?

Answer 32

Millions lived in cities.

Question 33

What did people do in cities?

Answer 33

They worked in factories.

Question 34

What happened when factories closed in cities?

Answer 34

The jobless had no money for food and no land on which to grow it on.

Question 35

What were four things that people did on city streets?

Answer 35

They sold apples and pencils, shined shoes, begged for money, and picked through garbage dumps.

Question 36

What dropped?

Answer 36

Marriage and birthrates.

Question 37

What did some families do?

Answer 37

They split up.

Question 38

What did fathers and even children as young as 13 or 14 do?

Answer 38

They drifted from town to town looking for work.

Question 39

What did some people do who were looking for work?

Answer 39

They "rode the rails" or lived in railroad cars.

Question 40

Some people shared what they had. Some families did what?

Answer 40

They doubled up and took in relatives.

Question 41

What feeling did jobless people suffer from?

Answer 41

The feeling that they had failed.

Question 42

Who was concerned about the suffering and believed the government should not become directly involved in ending the crisis because it can become too powerful?

Answer 42

President Hoover.

Question 43

Who did Hoover believe it was up to, to end the downside?

Answer 43

Businesses.

Question 44

At first, what did Hoover oppose?

Answer 44

relief programs.

Question 45

What were relief programs?

Answer 45

programs to help my needy.

Question 46

Who did Hoover call on to provide jobs?

Answer 46

Business leaders.

Question 47

What kind of private charities did Hoover make to help?

Answer 47

Churches set up soup kitchens where the hungry could get a free meal.

Question 48

What did Hoover set up as conditions grew worse?

Answer 48

Public works.

Question 49

What are public works?

Answer 49

Programs to provide jobs.

Question 50

What are 3 examples of public works?

Answer 50

Schools, dams, and highways.

Question 51

What corporation did Hoover ask congress to approve?

Answer 51

The Reconstruction Finance Corporation.

Question 52

What did the Reconstruction finance Corporation do?

Answer 52

Loaned money to banks, railroads, and insurance companies.

Question 53

What did Hoover hope that saving businesses would do?

Answer 53

Save jobs.

Question 54

Hoover did more to reverse hard times than any previous president but what happened to his efforts?

Answer 54

They were too little and too late.

Question 55

What did people blame the president for doing?

Answer 55

For doing too little.

Question 56

What name did people give to the shacks of the homeless?

Answer 56

Hoovervilles.

Question 57

Who took action to help themselves?

Answer 57

World War I veterans.

Question 58

After the war, what did Congress vote to give veterans?

Answer 58

A bonus.

Question 59

What was a bonus?

Answer 59

A sum of money on top of their wages.

Question 60

In 1932, more than 20,000 jobless veterans marched where to demand what?

Answer 60

They marched to Washington to demand the bonus right away.

Question 61

What where the jobless veterans who marched to Washington and who camped in tents along the Potomac River called?

Answer 61

The Bonus Army.

Question 62

What happened after the Senate rejected a bill that called for paying the bonuses immediately?

Answer 62

Local police tried to force the veterans to leave.

Question 63

How many people were killed when the Senate rejected the bill about the bonuses?

Answer 63

Four.

Question 64

When the Bonus army moved into the camp, what did they do?

Answer 64

Burnt it to the ground.

Question 65

What happened to Hoover after the attack on the Bonus Army?

Answer 65

Hoover lost all of what little public support he had left.