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history chapter 22 (junior year)

Terms in this set (47)

who won ther election of 1928
herbert hoover
herbert hoover formed what?
food administration
republican canidate
herbert hoover
Democratic canidate
alfred e. smith
who dissappoved of prohibition
alfred e. smith
Who favored prohibition?
herbert hoover
who mainly led the rioat in 1932
communists
how did herbert hoover view the great depression ?
by downplaying public fears
who set up the national credit cooperation and reconstruction finance corporation ?
herbert hoover
what banks contributed to the NCC?
new york bankers
hoover oppsed what the most?
direct relief
stock market
Buying and selling shares in companies
Bull Market
Long period of rising stock prices
buying on margin
Made small cash down payment
margin call
If stock lost money, stockbrokers demanded repayment at once
speculation
Risk taking when buying stocks
Five causes of the Great Depression
1. stock market crash
2. banks collapsed
3. overproduction
4. loss of export sales
5. hawley-smoot tariff
What is the stock market crash?
sudden dramatic decline of stock prices across a significant cross-section of a stock market.
what day did the stock market crash ?
Tuesday, October 29, 1929
what is the crash of the black market called ?
black tuesday
who did banks led money to ?
speculators
speculatrs defaulted what?
loans
who couldnt borrow money ?
consumers and businesses
what two ways did the federal reserve board help the drpression ?
1. Encouraged banks to make risky loans
2. Low interest rates gave false impression that economy was still expanding
breadlines
Free handouts of food
soup kitchens
Private charities set up to give the poor a meal
hoovervilles
Many families were evicted from their homes
Stock Market Crash
-Black Tuesday: bottom fell out of the stock market, it was worth nothing
-confidence in stock market fell
-banks lost money to people who borrowed money to buy stocks
Direct Relief
cash payments or food provided by the federal government to the poor
Great Depression
period from 1929 to 1940 in which the economy plummeted and unemployment skyrocketed
hawley-smoot tarriff
-high tariffs on imported goods
-designed to protect American farmers and manufacturers from foreign competition
-highest protected tariff in American history
-Europe retaliated with high tariffs on their imports
*no countries buying internationally
Herbert Hoover
31st President of the United States
how did hoover approach the great depression ?
-National Credit Corporation
-Reconstruction Finance Corporation
-Emergency Relief and Construction Act
Hobos
300,000 transients wandered the country, hitching rides on railroad boxcars and sleeping under bridges
Shantytowns
shantytowns in American cities
what were the two causes of the dust bowl ?
-great drought in early 1930s
-overproduction of land (left grassless/treeless acres of dirt and dust
What was the Bonus Army?
-made up of WWI veterans and their families
-arrived in Washington D.C. in 1932 for the March on Washington
-came to support the Patman Bill
-Hoover considered them "communists and persons with criminal records"
federal reserve board
-Encouraged banks to make risky loans
-Low interest rates gave false impression that economy was still expanding
how many banks had failed by 1993 ?
9,000
how many companies went out of business?
30,000
how many wokers were unemployed ? what was the percent ?
12 million workers
25% 1/4th
average income dropped from what to what ?
$2,300 to $1,600
who left the mid west during the dust bowl to head north ?
okies
what is the national credit cooperation ?
-Created a pool of money
-Enabled bankers to lend money in their communities
Reconstruction Finance Corporation
Government make loans to banks, railroads, and agricultural institutions
public works
Government financed building projects
Emergency Relief and Construction Act
first direct relief measue
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