History CH.14

What key industries were struggling to make a profit?
railroads, textiles, steel, mining, lumbering, housing

How did the diminished demand affect farmers and business in the 1920’s?
Important industries struggled, farmers grew more crops and raised more livestock than they could sell at a profit. both consumers and farmers were going deeper into debt. Business went bankrupt and farmers lost their farms.

How did falling incomes affect consumer behavior?
Americans bought less – mainly because of rising prices, stagnant wages, unbalanced distribution of income, overbuying on credit

How did popular perceptions of prosperity influence the election of 1928?
Americans thought the nation would continue to prosper under Republican leadership

How did speculation and margin buying cause stock prices to rise?
They caused over investment as people ignored the risks and bought more than they could pay for.

What happened on October 29, 1929?
the stock market crashed

How did the Stock Market Crash help cause the Great Depression?
People who bought stocks on credit were left with huge debts and lost their savings

What happened to banks and businesses in the economic collapse?
People withdrew their money. Some people couldn’t get their money because the banks had invested in the stock market. millions of people lost their savings. 90,000 businesses went bankrupt.

How did the Great Depression affect other countries?
compounded others problems

How did the decrease in world trade affect overall economic activity?
Caused unemployment to rise globally

What were the common set of factors that caused the Great Depression?
tariffs that cut world trade, farming crisis, credit, unequal distribution of income

Why did people in the cities live in shacks and wait in bread lines?
People during the Great Depression could not afford rent or food because there were no jobs so they lived in shacks

How did competition for jobs impact race relations during the Great Depression?
Non-whites were paid less and they were targets for violence for taking those less paid jobs

Why did farm families leave their land during the Great Depression?
The banks took the land from them

How did the Depression affect men and their families?
Depression put severe pressure on family life; Making ends meet was a daily struggle, and, in some cases, families broke apart under the strain

How did the Great Depression affect minorities?
Latinos were often deported

How did the Depression affect women and children?
Many women had to manage tight household budgets; women encountered opposition in holding jobs outside the home; Many children suffered from poor diets and inadequate health care; many child welfare programs and even schools were shut down

From what long-lasting psychological consequence did Depression survivors suffer?
Personal depression, living in poverty, thriftiness

Why was Hoover reluctant to help people during the Depression?
Americans believed that depressions were a normal part of the business cycle. Hoover felt that the most important thing Americans could do was remain optimistic and the one of gov. chief functions was to encourage and facilitate cooperation, not control it. He opposed any form of federal welfare or direct relief to the needy.

What types of action did Hoover take to remedy the effects of the Depression?
He was very cautious in his actions; He called business leaders together and asked them to come up with a solution to the nation’s problems; He asked employers not to cut wages or lay off workers; He asked labor leaders not to demand higher wages or go on strike; he created a special organization to help private charities generate contributions for the poor.

Describe Hoover’s individualism approach?
believed in rugged individualism- the idea that people should succeed through their own efforts

Describe Hoover’s Localism approach?
policy whereby problems are best solved at the state and local level and not by the federal government

What measures did Hoover take and what results did he achieve to help the economy?
Built the Boulder Dam, Backed cooperatives, National Credit Corporation to loan money to banks, Federal Home Loan Bank Act lowered mortgage rates, and Reconstruction Finance Corporation that emerged financing for banks, life insurance companies, railroads, and other large businesses.

Why did Hoover use force against WWI veterans?
They were asked to leave, but didn’t.

What was the Patman Bill and what happened when it failed in the Senate?
The bill that would speed up the process of WWI veterans getting their compensation money

What happened to the Bonus Army?
the national guard was called in to evacuate them and things turned violent. people were killed, including children The infantry gassed more than 1,000 people, killing a baby and blinding an 8 year old boy. 2 people were shot and many were injured

How did treatment of the Bonus Army affect president Hoover?
The public was appalled and Hoover lost reelection.

Which president appointed Hoover head of food administration?
woodrow wilson

Who went into office after hoover?
Franklin D Roosevelt

Hoover’s campaign slogan
a chicken in every pot, and a car in every garage

when was hoover elected?
march 4, 1929

what did hoover rely on the most?
voluntarism

which party won control of congress as a result of hoovers inaction
democrats

What act did hoover approve, hoping he could win reelection?
reconstruction finance corporation

What bill would speed up payments to the Bonus Army
Patman bill

name of the general hoover authorized to use force on the bonus army
MacArthur (along with eisenhower)

What was regulated by the gov. before the depression?
nothing

speculation
Act of buying stocks at great risk with the anticipation that the price will rise

buying on margin
Purching stock with a little money down with the promise of paying the balance at sometime in the future

new deal
President Franklin Roosevelt’s precursor of the modern welfare state (1933-1939); programs to combat economic depression enacted a number of social insurance measures and used government spending to stimulate the economy; increased power of the state and the state’s intervention in U.S. social and economic life. RELIEF, RECOVERY, AND REFORM

direct relief
cash payments or food provided by the government to the poor

Dust Bowl
Texas, Oklahoma, Kansas, Colorado, New Mexico

What established the highest protective tariff in US history?
Hawley-Smoot Tariff Act

price supporters
subsidies provided by the federal government, primarily to agriculture, whereby surpluses of products are purchased and kept off the market. this action reduces supply and keeps prices at a level required by the producer.

dow jones industrial act
a measure of stock market prices based on thirty leading companies of the new york stock exchange and nasdaq

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