Unit Three Flashcards
What occurred in 1929?
Stock market crash exposed weaknesses, damaged economy, Oct. 1929; Great Depression.
What was the state of agriculture during the 1930s?
Agricultural crisis.
What occurred to the older industries in the 1930s? Which specific industries (4)?
Decline in older industries:
coal, cotton mills, railroad, lumber.
What occurred on a wide scale to companies and the different classes in the 1930s?
Corporate consolidation and unequal distribution of wealth.
What occurred to consumer industries in the 1930s?
Consumer industries near saturation point.
What occurred to wages in the 1930s?
Inequitable wage increases.
What occurred to the general stock market in the 1930s?
Market speculation- stocks were overvalued
“margin buying”- buying stocks on credit became a problem
What occurred to general confidence in the 1930s?
Declining business and consumer confidence.
What happened to business and bank in the 1930s?
Bank and business failures.
What occurred to employment rates in the 1930s?
Unprecedented unemployment.
What was the underling cause for the problem in the 1930s?
Overproduction – underconsumption.
We could mass produce but not mass consume
What is a Hooverville?
Makeshift homes, of cardboard/ plywood, that those who became homeless created.
What was Herbert Hoover’s initial response to the Great Depression?
Have Faith in America’s economy.
What did Herbert Hoover to deal with the Great Depression?
Volunteerism.
- asking companies to do the right thing for society
- companies initially complied then didn’t
What did Herbert Hoover not initially allow for?
Rejection of federal relief efforts, called them un-American
What occurred when Herbert Hoover created small programs?
Small programs were too little too late.
What were (3) wrong measures that Herbert Hoover implemented?
Wrong measures:
Hawley-Smoot Tariff (raised tariff-international trade at a standstill)
balanced budget (government didn’t spend more than what’s coming in)
tax increases
What event concerned veterans?
What occurred?
What did Herbert Hoover do?
Bonus Army, 1932.
WWI veterans demanded gov. bonus early.
20,000 in Washington, D.C., forced out by military, under Hoover’s orders
What occurred in the next presidential election?
Landslide victory for FDR.
What occurred in the 1930s to the majority of people (3)?
Unprecedented suffering
Starvation
Increased crime
What two services were provided more?
Bread lines
Soup Kitchens
What three social statistics changed?
Increased suicide rates
Declining marriage rates
Declining birth rates
What two mentalities changed?
Self hate- individuals believed themselves at fault
Lack of hope for future
What two factors allowed for FDRoosevelt to unite the democrats?
The Great Depression caused problems hat affected everyone, therefore uniting them, despite their differences.
FDR was very charming and persuasive.