The Great Depression : 1/7/15 Flashcards
_______ _______ became president in a landslide win over ______ __ _____ in 1928.
Herbert Hoover, Alfred E. Smith
_______ was _______ of ______ and head of the _____ _________.
Hoover, Secretary of Commerce, Food Administration
_______ was a _________.
Hoover, Republican
The _____ _______ is a system for buying and selling stock in corporations.
Stock market
A long period of rising stocks is known as a ____ _______.
Bull market
A market condition in which prices of securities are falling, thus causing pessimism in the market is known as a _____ _______.
Bear market
By 1929, ____ of American households own _____.
10%, stock
________ is the act of buying stocks at great risk with the anticipation that the prices will rise.
Speculation
______ is buying stock by paying only a fraction of the stock price and borrowing the rest.
Margin
A ______ ___ is a demand by a broker that investors pay back loans made for stocks purchased on margin.
Margin call
In _______ ____, the market peaked.
September 1929
On October 24, a day that became known as _____ ______, the market plummeted further than three days earlier.
Black Thursday
The following week, October 29, a day that was later dubbed ______ ________, prices took the steepest dive.
Black Tuesday
The _________ ____ is a measure of the value of leading industrial companies.
Industrial index
____ ______ was lost, which was equal to the total wages Americans earned in 1929.
$30 billion
The _____ _____ weakened the nation’s ____ in two ways : 1. By 1929, _____ had lent _____ to ____ ______. 2. Many ____ had invested _______ money in the ____ ______.
Market crash, banks, banks, billions, stock speculators, banks, depositor’s, stock market
News of the ____ _______ led to ____ ____.
Bank failures, bank runs
A _____ ____ is caused by persistent and heavy demands by bank’s depositors, creditors, or customers to withdraw money.
Bank run
About ___ in ____ banks in the US had gone out of business.
One in four
What are the three causes of the Great Depression? 1. ______ ______ of ____ 2. ____ of _____ ____ 3. ________ by the _______ ______
- Uneven distribution of income 2. Loss of export sales 3. Mistakes made by the Federal Reserve
________ was a factor leading to the onset of the Great Depression.
Overproduction
_________ ________ was nonexistent.
Unemployment insurance
The _____-_____ ______ raised the average tariff rate to the highest level in American history.
Hawley- Smoot Tariff
A ______ in _____ hurt both American companies and farmers.
Decrease in exports
Access to ____ _____ propelled the stock market.
Easy money
_______ _______ ______ kept its rates low throughout the 1920s.
Federal Reserve Board
The ______ failure to raise _____ _____ significantly helped cause the Depression in two ways. : 1. By keeping rates ___, the _______ encouraged member banks to make ______ _____. 2. The ____ _____ ____ led business leaders to think that the economy was still ________.
Board’s, interest rates, low, Board, risky loans, low interest rates, expanding
A _______ is a sustained, long term downturn in economic activity in one or more economics.
Depression
An ________ _______ is a slowdown in economic activity over the course of a normal business cycle.
Economic recession
People who were evicted built shantytowns, which they called __________ after the president they blamed for their plight.
Hoovervilles
In search of work or a better life, people began ______, ________, or “ ______ ___ ____” across the country.
Walking, hitchhiking, “riding the rails”
These people were called ______, and would sneak past railroad police to slip into boxcars on freight trains.
Hoboes
The federal government launched _________ _____ to send poor immigrants back to their home countries.
Repatriation drives
When ____ _____ dropped in the 1920s, farmers tried to make up the difference by planting more _____.
Crop prices, wheat
A vast “ _____ ____” stretched from the _______ to _____.
Dust Bowl, Dakotas, Texas
The dust storms would be called _____ ______ or _____ ______.
Black blizzards, black rollers
The ____ ____ ______ was the largest migration in American history.
Dust Bowl exodus
_____ ______ wrote ___ ____ ___ ___ and __ _____ __ _____ based on the Dust Bowl.
John Steinbeck, Of Mice and Men, The Grapes of Wrath
______ _______ would write folk music based on his experiences.
Woody Guthrie
An average of ___ dust storms a year hit the plains during the decade.
50
If their land was __________, they had to turn the property over to the banks.
Mortgaged
Because many migrants were from ________, they became known as “_____.”
Oklahoma, Okies
_____ ______ produced the first feature length animated film, ____ ____ ___ ___ _____ ____, in 1937.
Walt Disney, Snow White and the Seven Dwarfs
In 1939, ____ produced the _____ __ __, the first movie in color.
MGM, Wizard of Oz
In the same year, ____ ___ __ ____ was created. (1939)
Gone with the Wind
Would hear stories of superheroes like the _____ ______.
Green Hornet
The ______ ____ presented the personal struggles of middle class families.
Guiding Light
The sponsors were often makers of laundry soaps, so the shows were nicknamed _____ _____.
Soap operas
In 1936, _____ magazine publisher _____ ___ introduced ____.
TIME, Henry Luce, Life
_____ was a weekly photojournalism magazine.
Life
_______ _____ captured the photo of the Great Depression in “ _____ _____”.
Dorothea Lange, Migrant Mother
Painters such as _______ ___ ____ and _____ _____ were artists from the regionalist school.
Thomas Hart Benton, Grant Wood
_____’s best known painting today is ______ _____.
Wood, American Gothic
______ has believed that American “ ______ _________” would keep the economy moving and that government should not step in to help individuals.
Hoover, rugged individualism
______ ______ pledged to keep factories open and stop _______ _____, but broke those pledges.
Industry leaders, slashing wages
_______ increased funding for _____ _____ or government financed ______ _____.
Hoover, public wages, building projects
The president would turn to the _____ _____ ____ to put our more money into circulation, but they refused.
Federal Reserve Board
To ease the money shortage, Hoover set up the ______ ______ _____. ( ? )
National Credit Corporation
The ____ created a pool of money that allowed troubled banks to continue lending money in their communities.
NCC
In 1932, Hoover requested Congress to set up the __________ ______ ______ ( ? ) to make loans to businesses.
Reconstruction Finance Corporation ( RFC )
By early 1932, the ____ had lent about $____ million to b___, r_______, and b____- and - l____ - a________.
RFC, 238, banks, railroads, bank and loan associations
______ however, STRONGLY opposed the federal government’s participation in _____ ____ given directly to families.
Hoover, relief money
Congress would pass the ________ _____ __ ______ ___ in July 1032.
Emergency Relief and Construction Act
The new act called for $___ billion for ______ ____ and $___ million in ________ ____ to states for direct relief.
1.5, public works, 300, emergency loans
For the first time in American history, the federal government was supplying ______ _____ ____.
Direct relief funds
Crowds began showing up at rallies and “_____ ____” organized by the _______ ______ _____.
Hunger marches, American Communist Party
In 1929, Texas congressman ______ _____ introduced a bill that would authorize early payment of these bonuses.
Wright Patman
May 1932, several hundred ______ veterans vegan marching to _______ __ to lobby for the pass of the legislation.
Oregon, Washington D.C.
The press termed the marchers as the “ ______ ___. “
Bonus Army
After no avail, the secretary of war asked for permission to send in the military under the command of _______ ______.
Douglas MacArthur
______, would ignore orders by the president to leave the camps alone.
MacArthur
The soldiers _____ ______ stragglers and burnt down shacks in the ________.
Tear gassed, Hoovervilles
The ____ was the first federal agency created to stimulate the economy during _________.
RFC, peacetime
