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33 Cards in this Set

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  • Back
Stock
Ownership of shares in a company or business
Stock Market
Building where people bought or sold shares(stocks)
Dow Jones Industrial Average
Report of the average prices of stock for important industries or businesses
Stock Market Crash
When the stock market prices fell very low or were very cheap
Black Tuesday
Day when many people sold their shares and people began to worry. The Dow Jones Average dropped the lowest it ever had
Business Cycle
When a country's economy grows and gets bigger, then it stops growing and gets smaller.
The Crash affected everyone
Banks and businesses failed
Peole lost their money
Companies fired people because of no work
Workers couldn't pay their bills and lost their homes
Prices for farm food fell, so farmers lost their farms
Great Depression
the most serious economic (money) downturn in U.S. history. Lasted from 1929 after the Stock Market Crash until 1941 when US entered World War II.
Causes of the Great Depression
-Companies made more
products than consumers
could afford to buy
-A few people were rich and
rest were poor.
- People borrowed instead of
saving money
- Government politics-cut
down on money available
for people to borrow.
-Overspeculation-people
borrowed money to buy
stocks and when the Crash
happened, their lost their
homes or businesses or
whatever they had
promised to pay with if
they didn't have the money.
What were the effects of the Great Depression?
People lost their jobs, then their homes and had no money to live.
Hoovervilles
Poor people that had no place to live and built houses of cardboard in different places
Farm stress
Farm families couldn't make money selling food and lost their farms. Farmers threw milk away while other people were starving
Dust Bowl
Dry earth or land is blown around by storms ruining farmers. They had dug up all the grass that protected the land and the wind blew it everywhere. Caused more farmers to go broke. About 60% of farmers lost their farms in the Dust Bowl
Poor Health
Children did not get enough food and didn't grow well. Some starved, people got sick, ate garbage from cans
Family Stress
Men felt bad because they couldn't get jobs to support their family. Some women worked, but this was hard on the men.
Discrimination Increase
There were only a few jobs, so people competed for them. The Blacks usually lost and the whites would get the job. Government programs usually helped the whites and not the Blacks.
Scottsboro Boys
9 Black boys were accused of raping a white woman on a train. They were arrested and sentenced to die. People in the North supported them and the Communist party got them new trials years later.
Foreclosure
when a person can't pay the mortgage (house payment), the bank would foreclose or take back the house and auction or sell it.
Penny Auctions
When a farmer lost his land, his farmer friends would go to the auction and only bid pennies for the house and land, then buy it and give it back to the farmer.
Hobos
Young people (and older people) who had no home, but rode in the cars of a train all over America.
Radical political moves to get the US out of the Great Depression
Communist Party-everything under government control
Socialist-divide things evenly among people
What was decided was that all Americans needed to work together to solve the problem.
Depression Humor
People told jokes, had comedians tell jokes, wrote cartoons all about their hard times during the Great Depression to make themselves feel better
Prohibition-it is against the law to make, drink, or sell alcohol 21st Amendment
Probition was repealed (cancelled, stopped), so people now could legally drink.
Empire State Building
started building in 1930 and finished in 1931 and it was a symbol or sign of hope. It was the world's tallest building at that time
Al Capone
Leader or organized crime went to prison
Calvin Coolidge President of 1920s
He died in1933
Babe Ruth-famous baseball player
Retired from baseball 1935
What President Hoover did
Howley-Smoot Tariff-high tax on things imported (brought into the country)
President Hoover also set up the Reconstruction Finance Corporation (RFC)
gave government credit to large companies, the railroad, and insurance companies and loaned money to banks.
Bonus Army
1932- 20,000 WWI veterans camped in Washing D.C. wanting the money the government has promised to pay them. They did not get it, some stayed a long time and some went home.
Franklin Delano Roosevelt made a promise when he wanted to become president in 1932
Roosevelt promised to make things better for people and called this his NEW DEAL
Eleanor Roosevelt, President's wife, worked to make things better for society.
Reformed public housing, state government, law making, birth control and better working conditions for women
Two different ideas of how to make things better by Roosevelt and Hoover
Hoover believed-men should help themselves
Roosevelt believed that the government should help the people.