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33 Cards in this Set
- Front
- Back
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Stock
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Ownership of shares in a company or business
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Stock Market
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Building where people bought or sold shares(stocks)
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Dow Jones Industrial Average
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Report of the average prices of stock for important industries or businesses
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Stock Market Crash
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When the stock market prices fell very low or were very cheap
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Black Tuesday
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Day when many people sold their shares and people began to worry. The Dow Jones Average dropped the lowest it ever had
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Business Cycle
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When a country's economy grows and gets bigger, then it stops growing and gets smaller.
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The Crash affected everyone
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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 |
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Great Depression
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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.
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Causes of the Great Depression
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-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. |
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What were the effects of the Great Depression?
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People lost their jobs, then their homes and had no money to live.
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Hoovervilles
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Poor people that had no place to live and built houses of cardboard in different places
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Farm stress
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Farm families couldn't make money selling food and lost their farms. Farmers threw milk away while other people were starving
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Dust Bowl
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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
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Poor Health
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Children did not get enough food and didn't grow well. Some starved, people got sick, ate garbage from cans
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Family Stress
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Men felt bad because they couldn't get jobs to support their family. Some women worked, but this was hard on the men.
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Discrimination Increase
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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.
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Scottsboro Boys
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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.
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Foreclosure
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when a person can't pay the mortgage (house payment), the bank would foreclose or take back the house and auction or sell it.
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Penny Auctions
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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.
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Hobos
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Young people (and older people) who had no home, but rode in the cars of a train all over America.
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Radical political moves to get the US out of the Great Depression
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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. |
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Depression Humor
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People told jokes, had comedians tell jokes, wrote cartoons all about their hard times during the Great Depression to make themselves feel better
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Prohibition-it is against the law to make, drink, or sell alcohol 21st Amendment
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Probition was repealed (cancelled, stopped), so people now could legally drink.
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Empire State Building
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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
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Al Capone
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Leader or organized crime went to prison
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Calvin Coolidge President of 1920s
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He died in1933
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Babe Ruth-famous baseball player
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Retired from baseball 1935
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What President Hoover did
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Howley-Smoot Tariff-high tax on things imported (brought into the country)
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President Hoover also set up the Reconstruction Finance Corporation (RFC)
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gave government credit to large companies, the railroad, and insurance companies and loaned money to banks.
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Bonus Army
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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.
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Franklin Delano Roosevelt made a promise when he wanted to become president in 1932
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Roosevelt promised to make things better for people and called this his NEW DEAL
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Eleanor Roosevelt, President's wife, worked to make things better for society.
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Reformed public housing, state government, law making, birth control and better working conditions for women
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Two different ideas of how to make things better by Roosevelt and Hoover
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Hoover believed-men should help themselves
Roosevelt believed that the government should help the people. |
