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17 Cards in this Set
- Front
- Back
- 3rd side (hint)
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A place where stocks, or shares of buisnesses are bought & sold
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Stock Market
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Ex. Wall Street, New York Stock Exchange.
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A time when the economy of a nation falls sharply
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Depression
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Ex. The Great Depression of 1929-39
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To fail to pay a loan when it is due
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Default
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not paying on time will cost you fines and can ruin your credit rating
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To take back the property of someone who has failed to pay back a loan
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Foreclose
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Banks can take back property for loan default and resell it to cover the debt
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Money given in addition to what is owed.
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Bonus
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WWI Veterans were promised a bonus by Congress who did not deliver.
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A long period of very dry weather
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Drought
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Ex. The Dust Bowl
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A worker who travels from place to place to harvest crops.
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Migrant Workers
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Mexican immigrants are hired illegally as _______ workers.
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Construction projects paid for by public funds.
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Public Works
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Ex. building roads, docks, & canals used by all
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Help given to poor people; strong government program to care for suffering families.
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Relief
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Pres. FDR said the government had a duty to "...see that no citizen shall starve"
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On Oct.29, 1929 stock prices plunged, many stocks became worthless, & people who borrowed money to buy stocks had suddenly lost all their money
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Stock Market Crash of 1929
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Also called "Black Tuesday" ; many people lost their life savings & committed suicide
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The longest, deepest, & most transforming economic recession in U.S. History.
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Great Depression
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It followed the "Panic of 1929" , had the highest record of unemployment in history & caused much migration around the U.S. to find work
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Stock Market Crashed, many people had borrowed money to play stock market, bank runs, farming collapsed, banks closed, WWI Veterans " Bonus
Army" |
Causes of Great Depression
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Roosevelt's New Deal and start of WWII helped end the Great Depression
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Elected President in 1929, wished to end the Depression but felt Gov't Charity would cause dependence & laziness of the people
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President Herbert Hoover
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He signed the legislation that cut foreign trade, began Public Works Program, cut taxes, and lent money to banks & businesses
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When the Depression hit, the WWI Veterans did not get the bonuses they were promised Congress. Hooer forced them off the White House grounds by Armed Forces.
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The Bonus Army
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Hoover hurt his reelection by using veterans of the military to forcibly remove WWI veterans.
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Farmers, Immigrants, African Americans, unskilled laborers,
women & children |
Groups hurt worst by the Great Depressin
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Before the Depression, most Americans lived off $3,000 a year or less. Many had purchased things using installment plans.
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Early in the 1930s, a drought set in on the Great Plains. Without rainfall, the soil in fields dried out and grass could not grow. The soil swept by winds created huge dust storms. Many lost their farms.
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The Dust Bowl
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Some Dust Storms swept dirt all the way to Chicago, Illinois.
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Elected in 1932, he felt the Gov't should do more to help Americans, gave hope to people by "Fireside Chats", called for Relief payments to the poor, created jobs by Public Works that gave people some work, some money and some confidence by the "New Deal"
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Franklin Delano Roosevelt
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Roosevelt's New Deal Relief and World War II helped pull the U.S. out of the Depression by 1940.
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