Studied by 20 peopleStock Market
A system for buying and selling shares of a company
Bull Market
A period of rising stock market prices
Margin
Paying a cash down payment to purchase a stock, borrowing the rest
Margin Call
Demand from a broker to repay margin loans at once
Speculation
Betting that the stock market would continue to rise
Black Tuesday
October 29, 1929 (market crash), $10-$15 billion stock value
Installment
Purchase an item with a small down payment, then pay monthly for the rest
Hawley-Smoot Tariff
Raised tariffs on foreign goods
Baliff
Court officer who ejected non-paying tenants
Shantytown
Communities of homeless people living on public lands
Hooverville
Name given to Shantytowns, by people who blamed the president
Hobo
Homeless, unemployed people who wandered the country
Dust Bowl
Extensive drought in the Great Plains
Soap Opera
Radio dramas with laundry soap sponsors
Public Works
Government financed building projects
Relief
Money that went directly to impoverished families
Foreclose
Creditors taking possession of land and evicting families
Bonus Army
WWI veterans who marched on D.C. to get their benefits now
New Deal
FDR’s policies for ending the depression
Bank Holiday
Closing the nation’s banks for recovery
Fireside Chats
Direct talks FDR had with Americans on the radio
Deficit Spending
Spending with borrowed money to pay for the New Deal programs
Alfred Smith
Democratic candidate in 1928 for president, catholic and anti-prohibition
Groucho Marx
Comic star wiped out by the stock market crash
Walt Disney
Created feature-length animated films
John Steinbeck
Novelist who wrote “The Grapes of Wrath”
William Falkner
Author who exposed hidden attitudes of southern whites and African-Americans
Herbert Hoover
Served as president at the start of the Great Depression
Franklin Roosevelt
Elected president in 1932, created the New Deal
Frances Perkins
First female cabinet member; Secretary of Labor
Huey Long
Democratic presidential candidate, challenged FDR by attacking the rich
Father Charles Coughlin
Catholic priest who used radio to rally against the New Deal programs
5 problem areas in the U.S. economy during the 1920s:
Unemployment
Overproduction
Farming
Credit
Unequal distribution of income
Why did farmers struggle in the 1920s?
Demand for crops soared, prices fell
Why was the gap between the rich and poor growing?
The increased manufacturing output and the distribution of income
Why did Hoover win the 1928 election so easily?
He emphasized years of prosperity under republican administrations
What is the Dow Jones?
A measure based on the price of 30 large firms
What 2 problems emerged to cause trouble in the stock market?
Farming crisis, credit buying
What was Black Tuesday?
The day the stock market crashed, October 29, 1929
Why did so many banks fail after the crash?
They ran out of money
How did the Hawley-Smoot Tariff affect the U.S. economy?
It raised the price of imports majorly and decreased the amount of exported goods
5 causes of the Great Depression:
Tariffs
U.S. demand low
Farm sector crisis
Easy credit
Unequal distribution of wealth
Rise of unemployment after the crash:
Everyone lost their savings so companies’ prices started to fall, causing them to cut back on workers
How did the depression affect minorities?
They struggled to find a job; they were always the last to be hired, first to be fired
How did the depression affect farmers?
Grew a demand in crops, prices fell, demand for machinery
What was Hoover’s philosophy towards the depression?
He believed an economy based on capitalism would self-correct
Hoover’s Dam Project:
$49 million, its construction resulted in thousands of jobs for people, hundreds of deaths, finished in 1935
Most income rise was seen by what percent of the population?
1%
Hoover’s belief that people shouldn’t rely on the government, they should take care of themselves
Rugged Individualism; Laissez-Faire
What was one of Hoover’s attempts to solve the depression?
Hoover Dam
Who fought in the boxing match that symbolized U.S. and Germany?
Schmeling vs. Louis
Hoover’s program to help farmers:
Federal Farm Board
What high percentage rate did unemployment hit in 1933?
25%
How was the bonus army dispersed?
They were called into the military
What event created a large crop demand?
World War ll
FDR’s initial plan to help the bank crisis:
Close down the banks
75% of Americans earned less than $______?
$2,500
2 generals in charge of removing the bonus army, later fought in WWll:
Eisenhower and MacArthur
2 biggest problems with the stock market:
Margin buying, speculation
Adolf Hitler vs. FDR political party
Nazi; Democratic
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