Unit 2 Lecture 5 Flashcards
(47 cards)
What was Hoover campaign for the election in 1928?
“Food would win the war” during WW1
How was the economy like in the 1920s?
The economy was prospering & booming
Buying on credit
Lead people to spend more money than they had & they ran out of credit (They had a hard time paying back debts which made them stoping spending money)
Buying stock on margin
People borrowing money to pay for stocks & when the stock market crashed they owed more than the stocks was worth
Since people werent buying/ spending money too much there was ________ & _______ where companines having too much products & people are not spending much money
Decrease in consumption & production stockpiles
The decreased in consumption & production stockpiles led to what?
Resulted in people being fired & people stopped spending money even more which was bad for the economy since it was a consumer nation
October 24
Black thursday
October 29
Black tuesday, the stock market crashed because too many people were buying & selling shares in stocks
There was an ___________ where if there was better distribution of wealth people would have more money & be able to live better lives to support the economy
Undistrubtion of wealth
Business-government parternship
Republicans party didnt stop bad things happening & didnt help the working class during the depression & farmers got hit very hard during the great depression
Progressive tax system
The more wealth you have the more will be taxed & it was used to help disturbed wealth in america
When the stock market crashed (The great Depression) what happened?
People lost their life savings since banks failed & when the banks closed their money dissapeard with it, unemploymenet jumped by 25%, people living in horrible conditions, etc
Hobo Army
Men leaving & roaming in towns trying to find places to stay
Hooverville & Hoover blankets
Towns with houses made out of straps & hoover blankets were newspapers people sleeping on benches used to cover themsleves
Civil disorder
Unemployed people demanded jobs, food, went on strikes, etc & the year 1932 was the rock bottom of the great depression
Native whites began to attack ________ saying that they are taking their jobs
immigrants
American Individualism (Herbert Hoover)
Belief that if you work hard & given opporutnies would work harder
Hoover vilfied
Believed that the government had to get people to come together & decided living wage, etc to keep one group from hurting another
Who was Franklin Delano Roosevelt?
Was a democratic, Governor of New york, created the New Deal program & came from progressive era roots where he belived in helping others & that the rich should help the poor
What was the New Deal program ?
It was a relief program to help american people
What was the public’s view on FDR?
The public loved him but the rich did not & people sent him many letters showing their love for him & his wife, where his wife cared for all american whether african american, women, etc
Firechats
Radio chats FDR had on the radio where he talked to america about issues which made americans feel closer to him
Brain trust
Groups of professors that served as FDR advisors for certain issues (Gave their lives for public services)
What were Bank Holidays?
Shut down all banks for a certain time
