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Chapter 17 - SS
| Question | Answer |
|---|---|
| Who won the election of 1928? | Herbert Hoover |
| What new invention influenced the outcome of the 1928 election? | radio |
| What was the most visible issue of the election campaigns in 1928? | prohibition |
| Both candidates were for enforcing prohibition, identify the important differences in the candidates. | Herbert Hoover - represented rural, agrarian interests Alfred E. Smith - represented urban, industrial interests |
| Define armories - | storehouses for guns |
| Why was Smith's religion a strike against him in the campaign in the minds of some American's? | Smith was Catholic and some believed that the White House would become a branch of the Vatican under Smith. |
| How did Hoover feel about the smear campaign against Smith concerning his religion? | He was embarrassed by them and tried to squash them. |
| What campaign issue proved most damaging to the Democrats in 1928? | Prosperity - the almost uninterrupted prosperity the country had enjoyed during the 1920's was associated with the Republicans in the minds of many voters. |
| Why was Hoover's victory in the 1928 election so impressive? | 1.) He won the electoral college 444 to 87. 2.) Carried 58% of the popular vote, carrying all but 8 states. |
| What did President Hoover predict in his Inaugural Address? | The United States would soon be "in sight of the day when poverty will be banished from this nation". |
| How did the commission appointed by Hoover to investigate Prohibition feel about Prohibition? | Most felt that the "noble experiment" was ineffective and promoted crime. |
| What was the commissions recommendation concerning Prohibition? | Despite their findings, the commission as a whole recommended that Prohibition be continued. |
| Define securities - | stocks and bonds |
| What did many stocks do between 1925 and 1929? | tripled in value |
| Define speculation - | Engaging in a risky business venture on the chance that a quick or sizable profit can be made. |
| Define margin - | Buying stock in this way a person could make a small down payment (cash) and borrow the rest from a stock-holder. |
| What happened on Thursday, October 24 concerning the stock market? | Almost 13 million shares of stocks were frantically traded - as the values fell below amounts borrowed to buy them brokers demanded that investors repay their loans. |
| When was "Black Tuesday"? | October 29, 1929 |
| What happened on "Black Tuesday"? | 16 million shares were sold, causing such a collapse that by mid-November the average price of securities had been cut nearly in half. (Stock market crash.) |
| What happened to many investors? | Lost their entire life savings |
| What actually hit people the hardest during this time? | Failure of the bands hit people the hardest - many bands went bankrupt. |
| What happened when banks failed? | Many people lost their savings |
| List 5 causes of the Great Depression: | Overproduction Underconsumption Agricultural Slump Surpluses Tariffs and Taxes Stock Market crash |
| Define installment buying - | An agreement whereby a purchaser made a down payment and paid the rest of the cost in periodic regular installments to which an interest charge was added. |
| How were the feelings of the country changing? | Feelings of optimism were giving to feelings of fear. |
| What experience did Hoover lack that made it all the more difficult for him to deal with the Depression? | Hoover lacked practical political experience that comes from being a legislator or state executive. |
| How did the Democrats do in the election of 1930? | Made gains in the Senate and won control of the House of Representatives. |
| How did Congress react to Hoover's policies during the last two years of his administration? | Congress was hostile. |
| What tariff did many economists urge Hoover to veto? | Hawley - Smoot |
| Why? | They argued it would help inefficient producers, raise consumer prices, reduce foreign markets, and cause I'll will toward the US in other countries. |
| What happened to the income of farmers between 1929 and 1932? | Their income was cut by more than half. (Burden of debt became unbearable.) |
| How much did a farmer sell a bushel of wheat for in 1929 and 1932? | 1929 - $1.04 1932 - $0.38 |
| Who was rising to power in Germany during this time? | Adolf Hitler |
| Who invaded China during this time? | Japan |
| Heavy war debts and rising unemployment led to the growth of what two Anti-Democratic parties? | -Communist Party -Nazi Party |
| Define moratorium - | Official authorization to suspend payment, as with war debt; officially authorized period of waiting. |
| Why did President Hoover call for a moratorium on Germany's war debt? | Hoover's aim was to protect US investments in Germany and to save the German Republic from collapse, as well as stimulate international trade. |
| What problem did the Hoover administration encounter in the Far East in September 1931? | Japan seized China's rich province of Manchuria. |
| Japan took advantage of the two conditions that existed to aid them in this successful invasion - what were these conditions? | 1.) A civil war was going on in China. 2.) The western nations were in a weakened condition after WWI. |
| China appealed to the League of Nations for help - why didn't Hoover want to get involved in invoking economic sanctions? | Hoover said the US didn't exist to police the world and that economic sanctions might lead to war. Also, Japanese aggression in Asia didn't "imperial the freedom of the American people". |
| What was the result of this lack of involvement of the Western nations and their reluctance to impose sanctions? | It served to encourage the Japanese expansion into China and Southeast Asia. |
| How did America's feelings toward war and involvement in foreign affairs aid in securing the independence of the Philippines? | A major reason for the passage of the bill giving the Philippines its independence was that the American people no longer wanted to defend the islands, upholding the American anti-imperialist past. |
| In 1932 over ________ failed and in just 2 months in 1931 over __________ failed. | 30,000 companies 800 banks |
| Fear and the loss of confidence affected people and businesses in a variety of ways during the depression. List at least 3 examples. | 1.) Emotionally many people became unemployable. 2.) Business leaders hesitated to build new factories. 3.) Business leaders hesitated to bring out new products. 4.) Frightened bankers became unwilling to lend money. 5.) On the stock market, security |
| What was one of the Great ironies of the Depression? | That starvation existed in the midst of plenty. Productivity of farmers had not slackened. They grew more food than they were able to sell. |
| Due to the collapse of the farm industry and extremely low prices farmers resorted to using crops in various ways and protesting. Give at least two examples of this. | 1.) Farmers heated their homes by using their crops to burn. 2.) Declaring "farmers' holidays". 3.) Tried to prevent food shipments to cities - dumped milk trucks. 4.) Slaughtered sheep - cost more to ship than they were making. |
| How low did the average family's income fall from 1929 to 1932? | 1929 - $2,300 1932 - $1,600 |
| How did the number of unemployed change from 1930 to 1933? | 1930 - 4 million 1933 - tripled -- 12 million |
| Relief funds were woefully inadequate. How much money was Toledo, Ohio able to give for each relief meal? | $0.02 |
| What happened in some cities after private charities were exhausted? | There was nothing. |
| What were Hoovervilles? | Makeshift communities on the outskirts of cities. |
| Who lived in Hoovervilles? | People who could not pay their rent or make their mortgage payment were evicted from their home. Those with no place to go ended up in these makeshift communities called Hoovervilles. |
| What could you find on almost every street corner? | Apple sellers. |
| Why were so many people selling apples? | There was a surplus of fruit in the Pacific Northwest, so to reduce the surplus the International Apple Shippers Association set up a system for unemployed people to sell apples. |
| How did jobless Americans ban together? | Hunger riots - smashing into grocery stores and grabbing whatever food they could carry. |
| What did the veterans and their families do in May of 1932? | They marched on Washington D.C. to demand early payment of the bonus Congress had promised to pay them in 1945. |
| How did Hoover show his support for their right to express their views? | He provided them with army tents, cots, and field kitchens. |
| When Congress denied the veterans request, some clashed with police. What did Hoover do as a result of this clash with police? | Hoover called in the army to clear the veterans from federal buildings - troops drove the veterans out of Washington D.C. |
| Whom did the American public hold responsible for the Depression? | Industrialist Bankers |
| What did Socialists and Communists believe was the answer to the economic woes? | Both groups proposed that government control the means of production and distribution. A planned economy would result in greater abundance for all due to government control of distribution (fair distribution of goods). |
| How did the Socialist propose to gain power? | Through persuasion and the ballot box. |
| How did the Communist propose to gain power? | Held that capitalist could not be overthrown without violent revolution. |
| Define "omelet theory" - | Just as it was impossible to make an omelet without breaking a few eggs, it was impossible to make a revolution without breaking heads. |
| Who won the 1932 Democratic nomination for president? | Franklin Delanore Roosevelt |
| What did Roosevelt call his program for America? | The "New Deal" |
| How did Roosevelt's views on the poor different from Hoover's? | Roosevelt felt that the government had "a positive duty to see that no citizen shall starve". Hoover flatly rejected Roosevelt's position. Roosevelt wanted to help the poor and Hoover didn't. |
| State the winner for the Election of 1932 and give the election results. | 1.) winner - Franklin D. Roosevelt 2.) results - Roosevelt carried 42 of the 48 states |
| How many votes did the Socialist and Communist party recieve? | Socialist - 900,000 Communist - 100,000 |
| Define lame duck - | An officeholder with little influence, because his term was about to end. |
| In what year did the banking panic occur? | 1933 |
| What caused the banking panic? | Having lost faith in the nation's banking system, thousands of depositors withdrew their money from banks and hoarded cash and gold. There was not enough gold in circulation to cover all deposits, so banks stopped payments. |
| How did state governments respond to the panic? | Closed banks |