The Great Depression Flashcards
Who was elected in 1929 to be president?
Herbert Hoover
When Hoover was inaugurated how was trade, industry and the economy doing?
It was booming
Before the end of the year the ________ collapsed
stock market
hoover was a firm believer in _______.
capitalism
Did not believe in a _____ government, however he did see federal government playing a ______ role.
big
larger
By 1929, the country was buying more ______ called ________.
stock
speculation
People bought and sold their _______ in large corporations, which meant they owned a part of the company.
shares
If the company made profits, share owners received ___________.
dividends
If dividend grow, the value of shares ________.
increases.
By the late 20s people started buying on ________ to buy stocks.
margin
As long as stock prices were going ____, people made money.
up
_________ is when stocks began to fall.
The date was _______.
black Thursday
10/24/29
October 24 1929
_________ was when 16.5 million shares changed hands and prices fell steeply.
The date was ________.
Black Tuesday
10/29/29
October 29 1929
Despite its suddenness, the stock market’s breadth and depth were not __________felt.
immediately
what was the biggest initial problem after the stock market crash.
unemployment
Hoover put his faith in this, a policy whereby problems could best be solved at local and state levels.
localism
a good word to describe president hoovers response to the great depression
cautiously
in 1928, this man was nominated by the republicans to be their presidential candidate.
hoover
This “army” was made up of WW1 veterans who wanted bonuses promised to them by congress to be paid to them.
bonus
The man who defeated hoover in the 1932 presidential election
Franklin D. Roosevelt
Last name of the person Hoover put in charge to take care of the WW1 veterans marching on Washington to get their bonuses.
MacArthur
Who wrote the Grapes of Wrath?
Steinbeck
This act gave railroads and large businesses more than a million dollars of government loans to help them during the depression.
RFC
Reconstruction Finance Cooperation
refugees were referred to as this, regardless of their origin.
Okies
Uneven ________ of the nation’s wealth created economic problems.
distribution
________ was this swath of parched earth that were hard hit regions of the drought.
Dust Bowl
The Great Crash represented another hallmark of the nation’s business _______, which explained the economic growth and contraction of the economy.
cycle
_________ project was a massive public program that brought much-needed employment to the southwest during the 1930s.
Hoover Dam
Last name of the British economist who argued that the lack of government interference in the economy led to the depression.
Keynes
To move or direct someone toward the same purpose
converge
Last name of the democrat nominee for president in 1928. He had been the governor of New York.
Smith
It could be said that the president Hoover’s programs to relieve the nation of the Great Depression relied to much on __________.
voluntary cooperation.
Group that did not share the economic growth of the 1920s.
farmers
It became clear that too much money was being poured into stock _________. Investors were gambling, often with money they did not even have on stock increases to turn quick profits.
speculation
Congress passed the _______________ which raised prices on foreign imports to such a level that they could not compete in the American market.
Hawley-Smoot Tariff
These workers did share the economic growth of the 1920s.
Industrial workers
Easy _____ during the 1920s hid problems in Amrican’s economy.
Credit
What was it called when factories couldn’t sell products, workers were laid off, workers lost their savings so they couldn’t buy anything.
snowball effect
By 1932, _____ in every _____ were out of work
1 of 4
Some lived in cardboard houses called ______
Hooverville
During this time did the divorce rate increase or decrease?
decrease
What was hoovers original job?
Mining engineer
What did hoover try to do to mitigate the effects of the depression?
Large scale public works projects
Where did farmers experience drought and what was this area called?
the great plains
the dust bowl
What year did the dust bowl begin?
1934
What major cities were hit by the dust?
New York, Chicago, Boston
What were some of the states that made up the dust bowl?
Oklahoma, Texas, Kansas, Colorado
What “did the farmers in”?
extended drought, loss of top soil, high winds
What did farmers do in response to the dust stroms?
they fled
Who was hoovers secretary of treasury?
Andrew Mellon
What did Andrew Mellon say do to in response to the depression?
That the government should do nothing
What did he call on to help feed the hungry?
Charities
Andrew Mellon got businesses and leader to promise to do what?
Keep up wages and keep factories going
Hoover cut his presidential salary by how much?
one fifth
Hoover also cut ____taxes
income
In 1929, congress passed a law to create the federal _____ board
farm
The problem was that the farm board could not control _____?
Production
Who did the board lend money to? They also bought excess ______ and ______?
farmers
wheat and cotton
Congress passed the _____ in 1930 which boosted tariffs on more foreign goods.
Hawley-Smoot Tariff
The unemployed striked back by breaking into______, standing with ______to drive off the sheriff who came to seize their land, and going on ____ marches
stores
pitch-forks
hunger
The _____ went to Washington DC to demand their bonuses
bonus army
The bonus army was made up of ______ and president Hoover got ____ to help get rid of them
veterans
MacArthur
In the 1932 election Hoover ran against and lost to who?
Franklin D. Roosevelt
Franklin Roosevelt was the _______ of _______and he attacked republicans for allowing what?
democratic governor of New York
Stock Speculation
What did Roosevelt want repealed?
What did Roosevelt want to be distributed more fairly?
He planned on recovering through _____?
Prohibition
Products of Industry
Experimentation
