The Great Depression

Question 1

What were the signs of Economic Trouble?

Answer 1

Prices for farm products dropped and farmers income fell.
Lead to farmers had trouble paying off loans
Industries such as textiles and coal mining had been depressed throughout the 1920s.

Question 2

What did many investors worry about and end up doing?

Answer 2

investors worried that boom might end, they began selling their stocks

Question 3

What did rash selling cause?

Answer 3

rash selling caused stock prices to fall.

Question 4

What is margin buying?

Answer 4

brokers asked investors to pay back what they owed. Investors could not repay their loans.

Question 5

What happened on October 29, 1929 and what did they call it?

Answer 5

Black Tuesday

Stock Market Crashed

Question 6

What are the causes of the Great Depression?

Answer 6

overproduction, wages did not keep up with the prices, weak banks

Question 7

What is overproduction?

Answer 7

Factories and farms produced vast amounts of goods.

Question 8

Why were workers unable to afford to buy many goods?

Answer 8

Wages did not keep up with the prices

Question 9

What is weak banks?

Answer 9

banks made unwise loans

Question 10

What are examples of weak banks?

Answer 10

Banks lent money to invest in the stock market

Question 11

What happened to depositors and how many banks closed?

Answer 11

5,00 banks closed.

depositors lost their money

Question 12

What ruined investors and what happened without capitol?

Answer 12

The Stock Market Crash ruined investors.

Businesses could no longer grow and expand

Question 13

Why could businesses no longer turn to banks for capital?

Answer 13

the banks were in trouble

Question 14

What did factories do?

Answer 14

they cut back on production, they cut wages, and laid off workers

Question 15

What is bankrupt?

Answer 15

unable to pay debts

Question 16

What is with a bankrupt business?

Answer 16

it is when a business closed and people lost their jobs

Question 17

What happened to unemployment rate and what was it number?

Answer 17

unemployment rate soared, 1 in 4 workers were unemployed

Question 18

What happened to families?

Answer 18

families suffered, marriage and birth rates dropped, and families split up

Question 19

What did President Herbert Hoover not believe in?

Answer 19

that government should become directly involved in helping to end the business crisis

Question 20

What are relief programs?

Answer 20

programs to help the needy

Question 21

What did Hoover oppose and what did he urge?

Answer 21

opposed government relief programs. Instead he urged business leaders to keep workers employed and to maintain wages

Question 22

What are Soup Kitchens?

Answer 22

places where the hungry could get a free meal

Question 23

What are public works?

Answer 23

projects built by government for public use. The government hired workers to build schools, construct dams, and pave highways

Question 24

Who did many blame?

Answer 24

many blamed Hoover for doing too little

Question 25

What is “Hooverville”?

Answer 25

shacks where the homeless lived

Question 26

What is with “Hoover Blanket”?

Answer 26

newspapers used by the homeless to keep warm when they slept outside

Question 27

What is with “Hoover Leather”?

Answer 27

cardboard patch that covered a hole in a shoe

Question 28

After WWI, what did Congress do?

Answer 28

voted to give veterans a bonus to be received in 1945

Question 29

Bonus?

Answer 29

additional sum of money

Question 30

What is with the Bonus Army?

Answer 30

jobless veterans who marched to Washington to demand the bonus the right away.

Question 31

What did Senator feel and do?

Answer 31

rejected a bill that would give veterans the bonus. Senators felt that the cost would prevent government action to aid the country’s recovery.

Question 32

What did many of veterans do?

Answer 32

thousands of veterans remained vowing that they would stay until 1945 if necessary

Question 33

Who did Hoover order and what were they sent to do?

Answer 33

He ordered General Douglas MacArthur to clear out the veterans.

Question 34

What did the attack on the Bonus Army do?

Answer 34

it caused the President to lose what little support he still had.

Question 35

Where did Franklin D Roosevelt come from?

Answer 35

came from a wealthy family, he attended Harvard and Columbia University, during WWI served as assistant secretary of the Navy

Question 36

Why were FDR legs paralyzed?

Answer 36

polio

Question 37

What did Franklin promise?

Answer 37

to help the jobless, poor families, and the elderly.

Question 38

Brain trust?

Answer 38

college professors who were experts on economic issues.

Question 39

Bank holiday?

Answer 39

he closed every bank in the country for four days.

Question 40

Emergency Banking Relief Act?

Answer 40

only those banks with enough funds to meet depositors demands could reopen.

Question 41

Fireside Chats?

Answer 41

radio speeches that FDR gave from a chair near a fire place in the White House. FDR gave 30 radio speeches.

Question 42

New Deal?

Answer 42

three goals (3rs)
Relief for the jobless
Recovery of the economy
Reforms to prevent another depression

Question 43

What did relied do?

Answer 43

Provides jobs for unemployed

Question 44

What did recovery do?

Answer 44

Helped the economy recover

Question 45

What did reform do?

Answer 45

Prevented another depression