Study Guide Ch 12 Flashcards
What class of people benefited from stock market
The rich
Welfare capitalism
Employers raised wages and provided benefits such as paid vacations, health , plans that even English class for immigrants without workers having to join a union
Consumers desire for excited new products lead to
Buying on credit
What attitude prevailed among Americans who invested in the stock market during the 1920s
Get rich quick
What two groups of people suffered during the 1920s before the depression hit
Farmers and factory workers
Speculation
The practice of making a high-risk investments in hopes of getting a high gain
Buying on margin
Allowed investors to purchase stock for a fraction of its value and borrow the rest
What event caused agricultural prices and products to plummet
The end of World War One
What took place on October 24, 1929
Worried investors begin to still in stock prices fell
What was great crash
The collapse of the stock market
After the great crash occurred who was affected
Millions of Americans many of whom had never own stocks
Business cycle
Periods in which the economy grows then contract
The great depression cost millions of Americans to use their
Jobs farms and homes
Why did thousands of banks close after the crash
Could not return depositors money
The collapse of the American economic system lead to
Worldwide depression
What were the three underlying causes of the Great Depression
Over speculation government polices unstable economy
During the great depression wage cuts and unemployment affected who
All levels of society
What group of people were hardest hit by the depression
Unemployed Labors
Extended family
Various family members living under the same roof
What forced thousands of farmers to flee west and take on labor jobs in California
Low farm prices and terrible weather
Who was an Okie
Poor farmers from Oklahoma going west looking for work
What did a poor diet and anxiety do to the people during the depression
Peoples physical and mental health decline
What was a common site in large cities during the depression
Soup kitchens and breads lines
During the depression working women were accused of what
Taking jobs away from men
Durning the depression many members of minority groups lost
Their low-paying jobs to whites
African Americans in the south where denied these civil rights during depression
Education voting and healthcare
When Hoover took office in 1929 what did he expect
Most Americans expected prosperity to continue
With economics ability in the 1920s what did this do to the Stocks
Stocks were rising
Why didn’t Hoover do anything to discourage the wild buying of stocks with borrowed money
He had high confidence in the business world
What two groups of people suffered during the 1920s before the depression hit
Farmers and factory work
What is the Dow Jones industrial average
An average of stock prices of major industries
What took place on October 24, 1929
Worried investors began to sell and stock prices fell
Great depression
A severe economic decline that lasted from 1929 until 1941
The collapse of the American economic system lead to
Worldwide depression
What were the three underlying causes of the Great Depression
- Overspeculation
- Government policies
- Unstable economy
Extended family
Various family members living under the same roof
What caused the rise in homelessness during the depression
People losing their jobs
Hooverville’s
Shanty towns, made up of crates, cardboard, or any scrap material
Hoover blankets
Newspapers
Hoover flags
Empty pockets
Hoover leather
Cardboard liner to put in a shoe to cover a hole
How did family suffer during the depression
Food prices dropped and farmers couldn’t pay their mortgage
What happened to the farmers when they couldn’t pay their mortgage
Banks foreclosed and had auctions
Dust bowl
Great plains where drought and dust storms took place in 1930
What forced thousands of farmers to flee west and take on labor jobs in California
Low farm prices in terrible weather
During the depression many members of minority groups lost
Their low-paying jobs to whites
African Americans in the south were denied the silver rights during the depression
Education
Voting
Healthcare
What activity did many Americans avoid during the depression
Buying on credit
What did farmers agree to do in some farmer communities if a farm was auctioned off
To keep it low
Name political group that gain some support during the depression
The Socialist party
Why
Called for a gradual social and economic changes rather then revolution
What was the common goal for those people involved in radical or reform movement during the depression
To work together for social justice
21st amendment
Repealing prohibition
Why did most Americans welcome repeal
Curb on gangsters
Who took control of alcohol consumption
The states
What was one Drammatic symbol of hope during the depression
Empire State building
Who became laborers number one enemy during the 1930s
Henry ford
Al Capone
Arrested for tax envasion and sent to prison
Died of syphlis
Babe Ruth
Retired from baseball in 1935
In 1932 what tragedy replied to the nations distressed condition
Someone kidnapped and murdered infant son of Charles Lindbergh
How did Hoover feel what is the best way to end the depression
Voluntary controlled by the US businesses
What causes international trade slow down during the depression
Passing Hawley Smoot tariff in 1930
What was the purpose of the Reconstruction finance Corporation
Gave government credit to bank so they could extend loans
Bonus army
World war one veterans wanted immediate payment of pension bonus that had been promised for 1945
How did Hoover get the bonus march is out of Washington DC
General Douglas Mac Arthur to use force
What did Franklin d Roosevelt promise Americans in his campaign for president
New deal
What was the name of his campaign song
Happy days are here again
Why did Americans like FDR
Optimism
Charm
Compassion
What were FDR’s credentials
Graduated from Harvard university, New York state senator, governor of New York
As governor of New York he had experience in starting what programs
Relief programs
Why was 1932 election a turning point in the role of government in American society
Government played more important roles with people in society
