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11 Cards in this Set
- Front
- Back
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Speculation |
taking chances on the stock market; invested most or even all their life savings |
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Stock market crash |
factories closed banks fell |
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the stock market crash ( essay) |
oct. 29th 1929 black tuesday- a record of 16.4 million shares were sold losses amounted to 30 billion |
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reasons for the crash |
during the 1920s speculators bought stocks w borrowed money ` based on borrowed $ and optimism instead of teal value the great depression had begun |
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government policies |
short sighted government economic policies were also to blame not wanting to interfere w business the government took no action against speculation |
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effects on the people |
the hardest hit were on the poor homeless were 15000 just in NY many became drifters or hobos- went from one hobo jungle to another looking for work- by 1933 estimated million were riding the rails looking for jobs and many teenagers were looking for work |
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hoovervilles |
people built shanty town shakes pf tar paper and cardboard |
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presidential election of 1932 |
promising a new deal the democratic candidate FDR won by a lot FDR wanted to reduce the gap between the nations wealthy and the poor |
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how relevant were FDR political ideas for 1932 |
as governor of NY FDR worked hard for depression relief in 1931 he set up an employment commission - the 1st state agencies to aid he poor on the depression era Americans turned to the federal gov in 1932 for relief |
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Dust bowl |
severe drought and poor farming practices farmers plowed the land and stripped the soil of its natural protection winds picked up for hundreds of miles the most severe storms were called " black blizzards" far into the east dust was carried |
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Everybody ought to be rich |
the market soared 1929 stock values hit $87 billion rich got richer huge businesses dominated american industry 200 large companies controlled 49% of american industry |
