Chapter 21 - The Great Depression
Terms in this set (24)
businesses, people, and banks are the key players. Money is at the center of the cycle.
Supported pro-business policies based
on the doctrine of "trickle-down economics"
A payment plan that allows customers to make payments at set intervals over a period of time until the total debt is paid
Buying on margin
paying a small percentage of a stock's price as a down payment and borrowing the rest
An involvement in risky business transactions in an effort to make a quick or large profit.
October 29, 1929; date of the worst stock-market crash in American history and beginning of the Great Depression.
the economic crisis beginning with the stock market crash in 1929 and continuing through 1941
start of America's economy going down
Trickle Down Economics
Hoover's strategy battling the Great Depression in which the money is given to the big corporations and eventually they will pay their workers more, and then the workers will spend their money and save the economy.
Depression shantytowns, named after the president whom many blamed for their financial distress
Region of the Great Plains that experienced a drought in 1930 lasting for a decade, leaving many farmers without work or substantial wages.
Payment for war damages
Herbert Hoover's belief that people must be self-reliant and not depend upon the federal government for assistance.
cash payments or food provided by the government to the poor
A dam built in the 1930s, with funding from the federal government, to control the Colorado River.
Group of WWI vets. that marched to D.C. in 1932 to demand the immediate payment of their government war bonuses in cash
What are the years of the Great Depression?
Identify the economic problems that caused the Great Depression.
Uneven distribution of wealth, farmers, credit, and the stock market
Identify the economic effects of the Great Depression.
People became very poor, the banks started to fail, people lost their jobs or received very little wages
What impact did the Hawley-Smoot Tariff have on the world economy?
Europe goes deeper into debt and world trade falls
Compare and Contrast the effects the Great Depression had on Rural and Urban Americans.
Rural - Crops rot, and kill animals, foreclosures, immigrants faced deportation, share
cropping ended (African Americans), farmers
helped by buying neighbors foreclosures
Urban - Hunger, unemployment,
homelessness, mutual aid, charitable help
Analyze the effects the Great Depression had on women, children and minorities.
Women - women began to work more when men could not. Divorce rates were higher. Families were torn apart
Minorities - harder for them to find jobs. Were criticized even more
Children - some became homeless, were starving, and overall just lost
Justify Hoover's initial response to fight the effects of the Great Depression.
He felt that the government should not intervene as much with the depression, instead it should be fixed locally
Analyze how MacArthur's tactics in removing the Bonus Army affected Hoover's political future.
Since MacArthur used tactics that were violent, the people did not trust Hoover and ruined his political future