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HIST DPRSSN ERA CRDS

Mr. Stickler's Liberty Christian U.S. HIST "Depression Era" Flashcards 2018

QuestionAnswer
What does the term "Bull Market" mean/ refer to? This term means "a long period of rising stock prices".
What does the term "Margin Call" mean/ refer to? This term refers to stock brokers demanding that investors repay loans that individual investors had used to buy stocks immediately.
What does the term "margin" mean, refer to? This term refers to the practice of individual investors paying a small down payment on a stock order and then borrowing the rest of the money from their stock broker.
What happened on "Black Tuesday"? On that day, stock market prices fell drastically. 16 million shares of stock were sold in a single day & the stock market lost between $10 billion to $15 billion in value. Triggered the Great Depression.
What is a "bank run"? This happens when "many depositors decide to withdraw their money at one time, usually because of fear that the bank is going to collapse."
What two (2) factors contributed to Herbert Hoover's election in 1928? 1.) An apparently strong economy; 2.) Rising stock market prices.
What effect did tariff ("tax") policies have on the Great Depression? These policies led to a decrease in export trade, which further hurt the economy.
What did the Hawley - Smoot Tariff do/ result in? This tariff ("tax") raised the average tax rate to the highest rate in American history. It failed to help U.S. businesses because foreign countries responded with their own taxes, which hurt American import & export businesses.
What does the term "bailiffs" mean/ refer to? This term refers to court officers who are responsible for helping to maintain order in court rooms.
What environmental event worsened the Great Depression? Drought and resulting crop failures, which were the two causes of the "Dust Bowl" event.
How did people try to escape the realities of the Great Depression? People watched movies and listened to radio broadcasts for entertainment to escape this reality.
How did the practice of buying on margin and speculation cause the stock market to rise? Buying on margin meant that an investor could make a small down payment and borrow the rest of the stocks' cost from the broker. People bought stocks on speculation, hoping that the market would keep climbing.
List the two (2) things that President Herbert Hoover did to try to rescue banks during the Great Depression. 1.) He set up the National Credit Corporation (NCC), which pooled money and allowed troubled banks to keep loaning money in their communities; 2.) Set up the Reconstruction Finance Corporation to make loans to businesses.
What does the term "public works" mean/ refer to? This term refers to "government financed building projects".
What was the "Bonus Army"? This was the name given to the large number of World War I veterans who marched to Washington, D.C. to support passage of a bill that would allow them to get their $1,000 veteran bonuses right away (instead of making them wait until 1945).
What two (2) major strategies did President Hoover use to promote general economic recovery? 1.) Encouraged businesses to stop laying off workers; 2.) Created public works projects.
List two (2) problems and dangers that the dust storms that swept through the west (the "Dust Bowl") created. 1.) Breathing problems, particularly for the aged and children; 2.) Damage to equipment such as engines.
How did some Great Plains farmers respond to the loss of their fields to the banks? Many farmers headed west, hoping to find a better life in California.
How did the Federal Reserve Board's decision NOT to raise interest rates help cause the Great Depression? 1.) Because interest rates stayed low, banks were encouraged to make risky loans; 2.) Because interest rates were low, business leaders thought that the economy was still expanding when it was not.
What were the three (3) roots of the Great Depression? 1.) An uneven distribution of income; 2.) Loss of export sales; 3.) Mistakes by the Federal Reserve Board.
According to the video, "America - The Story of US - Episode 9", who was Frank Crow? He was an engineer who was given the contract to build the Hoover Dam. This gave many unemployed men a job during the Great Depression.
What was the "Teapot Dome Scandal? This was a famous incident that occurred during President Harding's term in office. His Secretary of the Interior secretly allowed private companies to lease lands that had oil belonging to the U.S. Navy on them, earning $300,000 for himself.
What was the "Kellogg - Briand Pact"? This was a treaty whose purpose was to try to outlaw war. Stated that all nations who signed it would abandon war and would settle disputes by peaceful means.
What does the term "mass production" mean/ refer to? This term refers to "large - scale manufacturing done with machinery in order to increase supply and decrease costs".
Explain (briefly) how an "assembly line" works. The manufacturing process for a product (for example, a car) is broken down into very small jobs that one worker can do repeatedly and very quickly! This drastically speeds up the production process.
How does Henry Ford relate to the term "assembly line"? He was the first person to use this technique in the manufacturing process.
According to the video, "America - The Story of US - Episode 9", about what percentage of Americans had purchased something using credit in the early 1920's? About 80% of Americans had done this.
What does the term "open shop" mean/ refer to? This term refers to "a workplace where employees were not required to join a union" in order to work there.
List two (2) ways that the introduction of the automobile to American society effected its people. 1.) It eased rural isolation, allowing people a means of coming into larger cities to socialize; 2.) It allowed workers to live further away from their work.
List the names of two (2) pieces of legislation that attempted to control the number of immigrants that came into the United States during the 1920's. 1.) Emergency Quota Act; 2.) National Origins Act.
What did the Emergency Quota Act do/ provide for? This law restricted the annual admission to the United States to only 3% of the total number of people in any ethnic group already living in the U.S.
What did the National Origins Act do/ provide for? This law made immigration restriction a permanent policy. Quotas were set at 2% of each national group represented in the U.S. Census of 1890.
What did the Volstead Act do/ provide for? This law made the U.S. Treasury Department responsible for Prohibition.
What did the 18th Amendment do/ provide for? This Amendment banned the manufacture, sale, and distribution of all alcohol in the United States.
What did the 21st Amendment do/ provide for? This Amendment repealed the 18th Amendment.
What does the term "mass media" mean/ refer to? This term refers to "radio, movies, newspapers, and magazines aimed at a broad audience".
What was the "Great Migration"? This was the name of the movement of African Americans from the rural South to the North in search of factory jobs in the 1920's.
What does the term "Dust Bowl" mean/ refer to? This term refers to the area where large dust storms were created in the mid - 1920's to 1930's. These occurred due to the lack of plants serving as "wind breaks" whose roots would keep topsoil from becoming airborne.
What does the term "public works" mean/ refer to? This term refers to "government financed building projects" that were created to help unemployed workers find jobs during the Great Depression.
What was the "New Deal"? This was the name for President Roosevelt's programs aimed at helping the U.S. recover from the effects of the Great Depression.
What was the Civilian Conservation Corps? This was an agency created during the New Deal years that offered unemployed men ages 18 - 25 the chance to work for the U.S. Forestry service, planting trees, fighting forest fires, and building reservoirs.
What is the Securities Exchange Commission? This is an agency of the federal government that was created during the New Deal. Its purpose is to regulate the stock market and prevent fraud in order to help prevent anything like the Great Depression from happening again.
What does the term "100 Days" mean/ refer to? This term refers to President Roosevelt's first 100 days in office, during which he passed 15 major acts to try to help resolve the country's economic crises (related to the Great Depression).
Created by: sticklerpjpII