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History test #8
Terms in this set (34)
-religion (competitor was Catholic)
-prosperity of the 1920's
What campaign issues led to Hoover's election to the presidency?
What was the stock market like in the 1920's?
Triggered crisis of confidence into the economy
How did the bank failures contribute to the Great Depression?
Hawley Tariff depressed trade, then other countries put tariffs on our stuff
How did the decline in worldwide trade contribute to the Depression?
Drought, high winds, over farming
What chain of events turned the once-fertile Great Plains into the Dust Bowl?
Wizard of Oz
Gone With the Wind
The Lone Ranger
The Guiding Lights
What movies and radio shows entertained Americans during the Great Depression?
Characters in stories were going through the current situations such as poverty
How did artists, photographers, and writers, such as John Steinbeck, reflect the characteristics of the 1930's?
He feared it would delay economic recovery
Why did Hoover oppose deficit spending?
Only state and city governments should dole our relief
Why did Hoover oppose the federal government's participation in relief programs?
Got angry, wanted money and solutions, revolted and destroyed crops
How did Americans react as the depression continued?
Herbert Hoover and Alfred E. Smith
Who were the candidates of the election of 1928?
-Dry -liked prohibition
-"we are nearer to the final triumph over poverty than ever before in the history of any land."
-wins an electoral landslide
Describe Herbert Hoover
-wet -disliked prohibition
Describe Alfred E. Smith
System for buying and selling ownership of shares of company
Prolonged period of rising stock prices
Buying on the margin
-Needing only a small down payment to purchase stock
-safe as long as stock prices continue to rise
Demand for 100% of an investment to be repaid
October 29, 1929
Stock market takes its steepest dive, losing $10-$15 billion in value
By mid-November the stock prices had dropped how much?
-many had leant money to stock speculators
-many had invested depositors money in stock market
-3,000 banks closed during the 1st two years of the Great Depression
How did the nations banks weaken?
-uneven distribution of income
-overproduction by factories and farmers
-loss of export sales
-mistakes by Federal Reserve Bank
What are the roots of the Great Depression?
Unintentionally reduced exports
-caused US export to fall 1/5th of what they were in 1929
-didn't raise interest rates
-encouraged banks to make risky loans
-made business leaders think the economy was still growing
What were the mistakes caused by federal reserve banks
By 1933 more than ___ banks had failed
In 1932, ____ companies went out of business
12 million, 1/4 of the workforce
How many were unemployed?
Hoovervilles and Hobos
Evictions led to
-Worst natural disaster in US history
-result of drought, high winds, and over farming
Republicans lost ___ seats in the House of Representatives in midterm election
Reconstruction Finance Corporation (RFC)
Hoover created ____ to lend money to banks, railroads, and farming organizations; too cautious to make a difference
Emergency Relief and Construction Act
What did congress pass that came too late?
Hunger marches led to what?
How many farms were foreclosed on from 1930-1934
WWI veterans march on DC to receive bonus; riots, squatters, military action
-image of them hurt Hoovers reelection
THIS SET IS OFTEN IN FOLDERS WITH...
History test 1
History Test 2
Chapter 16 History
Chapter 19 History Test
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