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39 Cards in this Set
- Front
- Back
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Who was in the 1928 election ? |
Herbert Hoover, and Al Smith. Reublicans nominated Hoover Democrats nominated Smith |
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What was the main issue of the 1928 election? |
Prohibition, this also became an issue of "rural" versus urban |
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What did Hoover represent? What did Smith represent? |
Rural, farm interests, urban, business interests |
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Who won the 1928 election? |
Herbert Hoover |
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What was Hoover's aspect on the government? |
They shouldn't be involved in the lives of people or in regulating business. He felt the government's role was to help people to help themselves. |
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What was the idea Hoover said no to? |
The government taking the extra crops so the farmers make more money and the government can sell the extra to different countries. |
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Securities |
Stocks and bonds. Bonds were soaring and people were making a lot of money! |
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The New York stock exchange |
More then tripled between 1925 and 1929, it went fromm $27 billion to $87 billion |
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What happened as the prices rose? |
More and more people began speculating to make as much money as possible |
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Speculating |
To get as much money out of as much as you have |
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On margin |
Taking out a loan to put on the stock market |
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The federal reserve board advised banks to what? |
Stop loaning money for people to buy on margin few banks listened |
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Black Tuesday |
Investment bankers knew what was happening and started to buy as many shares as they could it was too little too late |
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October 29, 1929 |
16 million shares were sold and, within a couple of weeks the average price of a stock had been cut in half |
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What happened when banks went bankrupt? |
People who had accounts in them lost their savings |
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What year had the most bank failures? How many did they have? |
1933, 4,004 |
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Did the stock market crash cause of the great depression? |
No, it was prelude to what was going to happen |
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What was one cause? |
Overproduction underconsumption |
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What were people living in? |
Extreme poverty |
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Another cause |
Agricultural Slump, Agricultural Surpluses |
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We're farmers in huge trouble? |
Yes! |
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Another cause |
Raising tariffs prices, so people couldn't sell to other counties. Our trade was destroyed |
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All the rest |
Mortgages that couldn't be paid, the banks weren't getting paid back. Then the banks would close and the people that put money in the bank would lose all their savings |
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Hawley - Smoot Tariff |
Protection for farmers, by the time the Tariff bill got to the president's office in 1930, more then 1000 leading economists were begging him not to sign it. |
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Farm Board |
Bought up surplus crops in cotton and wheat in order to bring up the prices. The farm board also tried convincing the farmers to grow less to prevent future surplus |
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Pacifist |
War is morally wrong |
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Moratorium |
A temporary stop |
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In 1932 how many companies closed? |
30,000 |
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In 1931 how many banks failed in 2 months |
800 |
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1930 |
4 million workers were unemployed |
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1933 |
The number of jobless Americans had more than tripled |
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What are "Hoovervilles"? |
Community shacks |
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May 1932 |
About 1500 unemployed army veterans and their families marched to Washington, DC to demand early payment of the bonus Congress had promised to pay them in 1945 |
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The army veterans |
They set up Hoovervilles near the White House in a place called Anacostia Flats. As more and more veterans came, eventually grew to over 20,000 |
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Most of the veterans left |
But about 2000 people stuck around and said they weren't leaving until they got the money that was promised to them |
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Socialism |
Everything is owned by the government, everyone is equal. |
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1932 election |
Roosevelt and Hoover |
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20th amendment |
Was added to the constitution in March while waiting for Roosevelt to take office |
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Lame duck |
The time frame when we have a new president but he/she isn't in office yet. Between January and March the president doesn't actually have power |
