| Term | Definition |
|---|
| How does this section show everything in the economy is connected? | After the stock market crash ruined many investors, who were unable to pay back banks. Without investors, businesses couldn't grow. The banks were in trouble and couldn't lend money to businesses. Factories laid off workers, which decreased the demand for goods. |
| What happened to families during the depression? | Marriage and birth rates dropped, people begged on the streets. Some men and boys left home, giving their families one less mouth to feed. They rode all over the country on railroads. |
| What did President Hoover do to try and help people out during the depression? | President Hoover tried, but he was too late. He encouraged private organizations to help, but demand far dwarfed supply. He later set up public works programs, and loaned money through the RFC to struggling businesses: like railroads and insurance companies. |
| Define: Public Works Project | Projects built by the government for public use, like schools or parks. |
| Define: Hoovervilles | The shacks were desolate homeless people lived. |
| What was the Bonus Army? Why was this a shocking event? How did this event affect President Hoover? | The bonus army were veterans who had been promised a bonus in 1945, but who wanted it now. They camped out on the Potomac River. Eventually, the USA army drove them away with tanks, machine guns, cavalry, and tear gas. It was a shocking event because the powerful army was fighting unarmed, peaceful people. Hoover lost what little support he had left, and was ruined. |
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