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Great Depression

Chapter 22 - Great Depression

QuestionAnswer
Government buying surplus crops at guaranteed prices and selling them on the world market Price-supports
An arrangement where consumers agreed to buy now and pay later for purchases Credit
Most widely used barometer for the stock markets health Dow Jones Industrial Average
Buying stocks and bonds on a chance of quick profit, while ignoring the risks Speculation
paying a small percentage of a stock’s price as a down payment and borrowing the rest Buying on margin
The day the bottom fell out of the market Black Tuesday
The period from 1929 to 1940 in which the economy plummeted and unemployment skyrocketed Great Depression
Designed to protect American farmers and manufacturers from foreign competition Hawley-Smoot Tariff
Small towns consisting of shacks, commonly made up of wood, cardboard, and milk crates Shantytown
Offered free or low-cost food to unemployed or impoverished citizens Soup kitchens and bread lines
Clouds composed of dust, also known as "black blizzards" Dust Bowl
Cash payments or food provided by the government to the poor Direct relief
Provided electricity, flood control, and water supply; responsible for the growth of California Boulder Dam
Lowered mortgage rates for homeowners Federal Home Loan Bank Act
$2 billion for emergency financing for banks, life insurance companies, railroads, and other large businesses Reconstruction Finance Corporation
Between 10,000 and 20,000 World War I veterans and their families who traveled to D.C. to protest inadequate compensation for WWI Bonus Army
President during the Great Depression who supported the notion of "rugged individualism" Herbert Hoover
One of this photographers claims to fame was documenting the poverty of Chicago's South Side Gordon Parks
Bill that introduced price-supports for key agricultural products and trade in the world market McNary-Haugen Bill
Men who were without jobs traveling place to place often by train cars. Hobos
The unemployment record high during the Depression 25%
Brought many families together despite the tough economic times. Many musicians such as Duke Ellington were household names as a result Radio
The amount of revenue that farmers lost between 1919-1921 6 Million
Another name for the Boulder Dam Hoover Dam
Steel, Lumber, textiles, and coal mining Industries facing overproduction
Oklahoma, Texas, Kansas, Colorado, New Mexico Dust Bowl States
Competed against Hoover in the 1928 election Alfred Smith
Men who wore dress clothes in the soup and bread lines Active job seekers
Wrote the book Gone With the Wind Margaret Mitchell
Influenced the development of documentary photography Dorothea Lange
Increasing the value of crops through temporarily withholding crops from the US market Federal Farm Board
Milk shortages, malnutrition, and diet based diseases such as rickets Children's problems
Long lines, paper ledgers, and the lack of buyers Reasons for inability to sell stocks during the crash
Heavy winds, over-farming, and removal of the protective layer of prairie grasses through plowing Causes of the dust bowl
Idea that one should be able to succeed through their own efforts without government intervention "Rugged Individualism"
Boulder dam, Federal Farm Board, Federal Home Loan Bank Act, & Reconstruction Finance Corporation Hoovers interventions to the Great Depression
1. Overproduction in industries as a result of WW1 2. Overproduction of agriculture causing an income decline for farmers 3. Increased market confidence leading to buying on margin and taking out credit 4. Unequal distribution of income 4 Main Causes for the Great Depression
Created by: andrew.lehn
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