Dow Jones Average
_____- average of stock prices of the major industries.
Black Tuesday is the day the stock market crashed on October 29, _____.
In a two week period overall losses totaled _____.
_____- span in which the economy grows then declines.
The Great Depression was the most severe economic downturn in U.S. history. It lasted from _____.
By 1932 12 million people were unemployed. This was _____ of the labor force.
$103 billion; $56 billion
The GNP went from _____ to _____.
a) an unstable economy where wealth was unevenly distributed. b) overspeculation- the stock market was based on borrowed money. c) government policies- there was too little money in circulation
The overall causes of the Depression and the Great Crash were:
middle class; upper class
The _____ and the _____ now experienced poverty and did not know how to handle it.
_____- shelters for homeless people during the Depression which were made of cardboard or scrap materials.
_____ were areas where all the drifters gathered.
"the Dust Bowl"
Between 1931 and 1940 there was a natural disaster where so much topsoil blew out of control that the southern Great Plains became known as _____
_____ are the most severe storms of dry years.
A _____ was the growing of your own food in the cities so you could help feed yourself and your families.
Harlem; Father Divine
In _____, _____ opened up food kitchens to feed thousands of Blacks a day.
The _____ were 9 black young men who were accused of raping 2 white girls.
_____ were auctions on foreclosed farms. The neighbors would get together and buy everything auctioned at low prices and then they would give all the property back to the farmers who lost their land and their belongings.
_____ teenagers left their homes to ride the rails either out of curiosity or for adventure.
At the time not many individuals wanted political changes and wanted to stick with our _____ form of government.
Americans tended to keep their sense of humor. _____, after being criticized for asking for an $80,000 salary, which was more than President Harding made, joked that he had a better year than Harding did.
21st Ammendment; 1933; Prohibition
The _____ was passed in _____ which ended _____. 8 states still continued the ban on alcohol.
John J. Raskob; $41 million; 102
The Empire State Building, developed by _____, was built during the Depression for _____. It was _____ stories high and the tallest building in the U.S. at the time. It put some 4,000 people to work.
"The Great Engineer"
Herbert Hoover's nickname was _____.
Hoover believed that the _____ should get us out of the crisis we called the Depression.
Boulder Dam; 1930
Hoover began the building of the _____(Hoover Dam) as a way to give jobs to Americans in _____.
Hoover got the _____ passed and this was the highest import tax in U.S. history.
Reconstuction Finance Corporation (RFC)
Hoover set up the _____ which gave government credit to a number of private institutions. Some of them were large industries, railroads, and insurance companies.
John Maynard Keyes
Economist _____ agreed that massive government spending could help a collapsing economy and encouraged more private spending and the production of goods and services.
WWI veterans and their families marched on Washington D.C. They were called the _____ and they asked for their pension bonus which was promised to them in 1945. They wanted their bonuses early but Hoover said no. Hoover had Gen. MacArthur remove them from D.C. Both Hoover and MacArthur were criticized for their actions.
Franklin Delano Roosevelt; Hoover; 1932;
_____ defeated _____ in the presidential election of _____ by a landslide. People now looked to the idea of looking to the government for economic help. Many people had to give up the idea of making it on their own.