The Great Depression
Terms
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- Unequal Distribution of Income
- the country's income looks good because there are very few but REALLY rich people, though the majority is very poor.
- Marlene Dietrich
- movie star who fled to Hollywood to escape Europe.
- Oct. 29, 1929
- Black Tuesday
- Credit
- people bought stuff using this which was one of the reasons for economic concern during the 1920s.
- 1920s
- was a Bull Market.
- Bank Run
- large group of people try to withdraw their money at the same time.
- Bull Market
- stock prices go up.
- Reconstruction Finance Corporation
- loaned money to banks and railroads to keep them from going out of business.
- Hoover Blanket
- newspaper.
- Shantytowns
- communities of homeless people who live on the outskirts of towns.
- Relief
- govt. money given directly to its citizens.
- Date of the stock market crash
- Oct. 29, 1929.
- Hoover Flag
- empty pocket.
- Bonus Army
- group of WW1 veterans who went to Washington D.C. in 1932 to ask for money.
- Stupid things the govt. did
- Hawley Smoot Tariff and raising interest rates during the Great Depression.
- Alfred Smith
- "wet" Catholic candidate.
- Hawley Smoot Tariff
- raised tariffs to the highest rate ever.
- National Credit Corporation
- used money from New York City bankers to loan to smaller banks.
- Alfred Smith
- Democrat candidate who wanted to end the 18th Amendment.
- Budget deficit
- govt. spends more money than it takes in through taxes.
- Hoovervilles
- shantytowns on the outskirts of large cities.
- Banks
- took deposits and invested in the stock market.
- Speculation
- investing in the stock market to make a profit; buy low, sell high.
- Tonto
- Indian sidekick to the Lone Ranger.
- Actions by the Federal Reserve
- raised interest rates after the crash.
- Hobos
- homeless people who wandered the country riding the railroads.
- Scarlett O'Hara
- star character in "Gone with the Wind."
- Dust Bowl
- took place on the Great Planes when drought caused the soil to blow away.
- Overproduction
- farm problem that was an economic concern and caused repo.
- 6,000
- amount of banks that closed by 1933.
- Emergency Relied and Construction Act
- loaned money to the states for direct relief.
- Bread lines and soup kitchens
- where the poor went for free meal.
- Installment plan
- buying on credit and making monthly payments.
- Causes of Depression
- overproduction; credit; and unequal income.
- Home Construction
- decreased during the late 1920s, causing an economic concern.
- 25
- percentage of unemployment in 1933.
- Monopoly
- game invented during the Great Depression because to make people feel like they had money to spend.
- Douglas MacArthur
- military officer who removed the Bonus Army.
- Margin Call
- banks and brokers demand payment of loans.
- Herbert Hoover
- Republican candidate who wanted to keep the 18th Amendment and won the Election of 1928.
- Hoover's landslide in 1928
- because the public associated prosperity with the Republicans.
- Speculation
- buying low and selling high.
- Black Tuesday
- day the stock market crashed, beginning the Great Depression.
- Stock Market
- system of buying and selling shares of Company.
- Prohibition
- major issue in the 1928 election.
- Average income in the 1920s
- was not as it appeared.
- Groucho Marx
- comic star of the 1920s who lost his fortune in the stock market.
- Bear Market
- stock prices go down.
- McNary-Haugen Farm Bill
- govt. would buy farm surplus above market value.
- John Steinbeck
- wrote the "Grapes of Wrath."
- Foreclosed
- can't make payments and the banks take your property.