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30 Cards in this Set
- Front
- Back
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Election of 1928-republicans
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nominated Herbert Hoover of California, mining engineer, administrator of food relief in WWI, secretary of commerce under harding & coolidge
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Election of 1928-democrats
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democrats nominated Al Smith, governor of New York, first Roman Catholic nominated for President, political handicaps: 1. Roman Catholic 2. opposed prohibition
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Hoover
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believed in rugged indvidualism
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rugged individualism
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people who want to survive economically and will do so without the government's help
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Hawley-Smoot Tariff of 1929
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the highest tariff in US history, raised prices on many imports and caused problems in countries all around the world
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Agricultural Marketing Act of 1929
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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
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Stock Market Crach of 1929
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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 |
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Cause: Overproduction (companies made too much product to keep up with demand)
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Effect: unemployment (stockpiles of goods meant layoffs)
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Cause: Unequal disribution of wealth
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Effect: Americans thought they were well off when they really weren't
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Cause: Unsound stock market (bought many rsky stocks and market eventually crashed)
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Effect: american losing money in stock, they began making "bank runs"
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Cause: Foreign influences, countries around the world experiencing depression
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Effect: trade suffered
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Cause: Federal Gov. inaction (three republican presidents of the 1920's practiced 'laissez- faire' (hands off) economics
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Effect: falling prices and deflation
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Federal Farm Board
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agency bought up farm surpluses in an effort to raise falling farm prices
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Public Works Programs
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Boulder Dam (aka Hoover Dam), intended to simulate business and provide employment
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Reconstruction Finance Corporation (RFC)
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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
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Home Loan Bank Act of 1932
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series of banks designed to provide financial assistance to saving banks, building and loan associations, and insurance companies to loan money for mortgages
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Hoover and Taxes
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Hoover cut taxes in 1931 and 1932
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Hoover and Rugged Individualism
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hoover refused to provide unemployment money to the needy and also welfare payments to the needy.
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Bull Market
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circumstances in the stock market that led to a long period of rising stock prices
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margin call
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to protect the loan, demanding the investor repay the loan at once
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speculation
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the act of buying stocks at great risks with the anticipation that the price would rise
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installment plan
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americans bought high cost items under which they would make a small down payment and pay the rest in monthly installments
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dust bowl
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from the dakotas to texas, nickanme for pastures and fields
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marlene dietrich
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portrayed a range of roles with subtlety
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greta garbo
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swedish actress who often played a doomed beauty
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thomas hart benton and grant wood
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led the regionalist school which emphasized traditional american values
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william faulkner
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author of 'the sound of fury'
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margeret bourke-white
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photojournalist whose photos appeared in 'fortune' magazine and showed the ravages of drought
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public works
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government financed building projects
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douglas macarthur
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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
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