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39 Cards in this Set

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Who ran for the Democrats in the 1928 election against Hoover?
Alfred E. Smith
Who was the first Roman Catholic nominated for president?
Alfred E. Smith
What were the stance of the candidates on Prohibition?
Hoover was for it "dry". Smith was against it "wet".
What was the campain against Smith about?
He was Roman Catholic and many Protestants believed that the Catholic Church backed the Democrats and would rule the country if he were elected.
What was the biggest reason Smith lost votes?
The Republicans took responsibility for the prosperous 20's and so Hoover had the advantage.
What's the stock market?
A system for buying and selling shares of companies.
What is a bull market?
A long period of raising stock prices.
How many Americans had stock in 1929?
3-4 million or 10%
What's buying stocks on margin?
When people only made a small down-payment on stocks - as low as 10% of the price.
What is a margin call?
When a broker demanded the investor to repay the loan at once.
What is speculation?
Investors took risks when buying stocks betting that they would go up.
Why did the stock market crash?
People started to sell sensing trouble around the corner. Once they did this others saw thee stocks going down and took out their money. This continued in a downward spiral.
What was Black Tuesday?
It was on October 19, 1929. On this day stocks dropped $10 - $15 billion.
In what 2 ways did the stock market crash weaken banks?
1. Many banks had lent money out to speculators.
2. Many banks had invested depositors' money in the stock market.
What is a bank run?
This happens when many depositors decide to withdraw their money at one time for fear that the bank will collapse.
What were 4 causes for the Great Depression?
1. Overproduction and low demand leads to employee layoffs.
2. Low wages reduce consumer buying power.
3. High tariffs restrict foreign demand for American goods.
4. Unemployment reduces buying power further.
What do many economists believe was the cause of the depression?
Overproduction
What is the installment plan?
Buyers could make a small down payment and pay the rest in monthly installments.
What was the Hawley-Smoot Tariff?
raised tariffs on imports on 900 items. This hurt American sales abroad.
How did the Federal Reserve Board's decision not to raise interest rates help cause the depression?
1. By keeping rates low, it encouraged members of banks to make risky loans.
2. its low interest rates led business leaders to think the economy was still expanding.
What is a bread line?
People lined up to receive free handout or food.
What is a soup kitchen?
A place private charities set up to give out free meals.
What is a bailiff?
A court officer that ejected nonpaying tenants, piling their belongings on the street.
What is a shantytown?
A place where homeless people set up shacks on unused or public land and formed a community.
What is a Hooverville?
A shantytown that blamed Hoover for their misfortune.
What is a hobo?
Americans that wandered around the country seeking job opprotunities.
What was the "Dust Bowl?"
This was the region along the great plains that was dry from a drought in 1932.
Who was Marlene Dietrich?
An actress that fleed Europe to come to hollywood.
Who was Greta Garbo?
An actress that fleed Europe to come to hollywood.
Thomas Hart Benton
Led regionalist school, which emphasized traditional American values.
Grant Wood
Led regionalist school, which emphasized traditional American values.
John Steinbeck
Added flesh and blood to journalists’ reports of poverty and misfortune.
William Faulkner
An author who showed what his characters are thinking and feeling before they speak.
Margaret Bourke-White
A photojournalist who displayed in Fortune magazine, showed ravages of drought.
Public Works
Projects such as highways, parks, and libraries built with public funds for public use.
Reconstruction Finance Corporation
(RFC) was set up to make loans to banks, railroads, and agricultural institutions.
Relief
Money that went directly to impoverished families.
Foreclose
To take possession of a property from a mortgagor because of defaults on payments.
Bonus Army
The name the press gave to veterans who marched to lobby Congress to pass the legislation to get a bonus for service in WWI.