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30 Cards in this Set

  • Front
  • Back
Election of 1928-republicans
nominated Herbert Hoover of California, mining engineer, administrator of food relief in WWI, secretary of commerce under harding & coolidge
Election of 1928-democrats
democrats nominated Al Smith, governor of New York, first Roman Catholic nominated for President, political handicaps: 1. Roman Catholic 2. opposed prohibition
believed in rugged indvidualism
rugged individualism
people who want to survive economically and will do so without the government's help
Hawley-Smoot Tariff of 1929
the highest tariff in US history, raised prices on many imports and caused problems in countries all around the world
Agricultural Marketing Act of 1929
Created Federal Farm Board, power to lend up to $500 million to farms for crop storage, when prices rose, they could sell the crops..system failed
Stock Market Crach of 1929
October 24, 1929-Black Thursday, panic of selling the NY Stock Exchange caused by overproduction & overselling of stock

October 29, 1929- the stock market crashed, worst day in the history of the new york stock exchange
Cause: Overproduction (companies made too much product to keep up with demand)
Effect: unemployment (stockpiles of goods meant layoffs)
Cause: Unequal disribution of wealth
Effect: Americans thought they were well off when they really weren't
Cause: Unsound stock market (bought many rsky stocks and market eventually crashed)
Effect: american losing money in stock, they began making "bank runs"
Cause: Foreign influences, countries around the world experiencing depression
Effect: trade suffered
Cause: Federal Gov. inaction (three republican presidents of the 1920's practiced 'laissez- faire' (hands off) economics
Effect: falling prices and deflation
Federal Farm Board
agency bought up farm surpluses in an effort to raise falling farm prices
Public Works Programs
Boulder Dam (aka Hoover Dam), intended to simulate business and provide employment
Reconstruction Finance Corporation (RFC)
lend large sums of money to banks, life insurance companies, railroads, and farm martgages associations, gave $2 billion in loans to the US, best idea hoover had to fight the depression but it was too late
Home Loan Bank Act of 1932
series of banks designed to provide financial assistance to saving banks, building and loan associations, and insurance companies to loan money for mortgages
Hoover and Taxes
Hoover cut taxes in 1931 and 1932
Hoover and Rugged Individualism
hoover refused to provide unemployment money to the needy and also welfare payments to the needy.
Bull Market
circumstances in the stock market that led to a long period of rising stock prices
margin call
to protect the loan, demanding the investor repay the loan at once
the act of buying stocks at great risks with the anticipation that the price would rise
installment plan
americans bought high cost items under which they would make a small down payment and pay the rest in monthly installments
dust bowl
from the dakotas to texas, nickanme for pastures and fields
marlene dietrich
portrayed a range of roles with subtlety
greta garbo
swedish actress who often played a doomed beauty
thomas hart benton and grant wood
led the regionalist school which emphasized traditional american values
william faulkner
author of 'the sound of fury'
margeret bourke-white
photojournalist whose photos appeared in 'fortune' magazine and showed the ravages of drought
public works
government financed building projects
douglas macarthur
army chief of staff who ignored hoover's orders to clear the buildings but to leave the camps alone. he sent calvary, infantry, and tanks to clear the the veterans