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39 Cards in this Set
- Front
- Back
Who ran for the Democrats in the 1928 election against Hoover?
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Alfred E. Smith
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Who was the first Roman Catholic nominated for president?
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Alfred E. Smith
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What were the stance of the candidates on Prohibition?
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Hoover was for it "dry". Smith was against it "wet".
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What was the campain against Smith about?
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He was Roman Catholic and many Protestants believed that the Catholic Church backed the Democrats and would rule the country if he were elected.
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What was the biggest reason Smith lost votes?
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The Republicans took responsibility for the prosperous 20's and so Hoover had the advantage.
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What's the stock market?
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A system for buying and selling shares of companies.
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What is a bull market?
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A long period of raising stock prices.
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How many Americans had stock in 1929?
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3-4 million or 10%
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What's buying stocks on margin?
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When people only made a small down-payment on stocks - as low as 10% of the price.
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What is a margin call?
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When a broker demanded the investor to repay the loan at once.
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What is speculation?
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Investors took risks when buying stocks betting that they would go up.
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Why did the stock market crash?
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People started to sell sensing trouble around the corner. Once they did this others saw thee stocks going down and took out their money. This continued in a downward spiral.
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What was Black Tuesday?
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It was on October 19, 1929. On this day stocks dropped $10 - $15 billion.
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In what 2 ways did the stock market crash weaken banks?
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1. Many banks had lent money out to speculators.
2. Many banks had invested depositors' money in the stock market. |
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What is a bank run?
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This happens when many depositors decide to withdraw their money at one time for fear that the bank will collapse.
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What were 4 causes for the Great Depression?
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1. Overproduction and low demand leads to employee layoffs.
2. Low wages reduce consumer buying power. 3. High tariffs restrict foreign demand for American goods. 4. Unemployment reduces buying power further. |
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What do many economists believe was the cause of the depression?
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Overproduction
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What is the installment plan?
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Buyers could make a small down payment and pay the rest in monthly installments.
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What was the Hawley-Smoot Tariff?
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raised tariffs on imports on 900 items. This hurt American sales abroad.
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How did the Federal Reserve Board's decision not to raise interest rates help cause the depression?
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1. By keeping rates low, it encouraged members of banks to make risky loans.
2. its low interest rates led business leaders to think the economy was still expanding. |
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What is a bread line?
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People lined up to receive free handout or food.
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What is a soup kitchen?
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A place private charities set up to give out free meals.
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What is a bailiff?
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A court officer that ejected nonpaying tenants, piling their belongings on the street.
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What is a shantytown?
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A place where homeless people set up shacks on unused or public land and formed a community.
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What is a Hooverville?
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A shantytown that blamed Hoover for their misfortune.
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What is a hobo?
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Americans that wandered around the country seeking job opprotunities.
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What was the "Dust Bowl?"
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This was the region along the great plains that was dry from a drought in 1932.
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Who was Marlene Dietrich?
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An actress that fleed Europe to come to hollywood.
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Who was Greta Garbo?
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An actress that fleed Europe to come to hollywood.
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Thomas Hart Benton
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Led regionalist school, which emphasized traditional American values.
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Grant Wood
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Led regionalist school, which emphasized traditional American values.
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John Steinbeck
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Added flesh and blood to journalists’ reports of poverty and misfortune.
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William Faulkner
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An author who showed what his characters are thinking and feeling before they speak.
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Margaret Bourke-White
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A photojournalist who displayed in Fortune magazine, showed ravages of drought.
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Public Works
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Projects such as highways, parks, and libraries built with public funds for public use.
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Reconstruction Finance Corporation
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(RFC) was set up to make loans to banks, railroads, and agricultural institutions.
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Relief
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Money that went directly to impoverished families.
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Foreclose
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To take possession of a property from a mortgagor because of defaults on payments.
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Bonus Army
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The name the press gave to veterans who marched to lobby Congress to pass the legislation to get a bonus for service in WWI.
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