The Great Depression

Question 1

Causes of GD

Answer 1

Rising stock prices
Buying on the margin
Margin call

Question 2

The Great Crash

Answer 2

Oct. 29th ‘29

Black Tuesday

Question 3

Other causes of GD

Answer 3

Unemployment in farm/textile/coal industries
Overproduction
Over expansion of credit
Loss of export sales
- Hawley-Smoot Tariff of 1930
Drought
Weak Fed. Reserve

Question 4

Dust Bowl

Answer 4

1932 drought in Great Plains

Okies headed to California for work

Question 5

President Hoover

Answer 5

Rugged Individualist
Boot strap theory
Against the dole, or welfare

Question 6

National Credit Coorporation

Answer 6

New York Bankers contributed
Created pool of money
Allowed bankers to lend money to the needy in their communities

Question 7

Reconstruction Finance Corporation

Answer 7

Gov’t make loans to banks, railroads, and agricultural institutions
RFC lent $238 million

Question 8

Emergency Relief and Construction Act of 1932

Answer 8

Opposed by Hoover
$1.5 billion for public works
$300 million in loans to states for Direct Relief

Question 9

GD response to soldiers bonus act of 1924

Answer 9

Veterans marched to Washington to lobby for early payment, but Hoover rejected their request

Question 10

Army chief of Staff Douglas MacArthur

Answer 10

Used tanks and tear gas to end the veteran march in Washington
It marked the end of Hoover’s political career