U.S. History Chapter 22

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U.S. History Chapter 22 Powered By Docstoc
					U.S. History
Chapter 22
 Lecture Notes
Farmers’ struggles first warning signs
   1. Term describing American Agriculture
       during the 1920’s, the result being
       decreased demand and decreased prices.
          Overproduction
   2. The maintenance of a price at a certain level
       through government Intervention.
          Price Support
   3. Congress tried to pass numerous “Price
       Supports” to bail out the farmers, but this
       President vetoed every one.
          Calvin Coolidge
    “Easy Credit Rip Offs, Good Times”
   4.   Term describing an arrangement in which
         consumers agree to buy now and pay later,
         created a false sense of prosperity as people were
         “living beyond their means”.
            Easy Credit
   5.   Aspect of the American economy of the 1920’s that
         could be described by the quote “the rich are getting
         richer, the poor are getting poorer”.
            Uneven Distribution of Income
   6.   Many people believed the economy must be sound
         sense the number of _____ was actually increasing,
         but reality was that the numbers of families below
         the poverty line was also increasing.
            Millionaires
      Riding the Coat tails of “False
   7. Won the Presidential election of 1928
       based on the “prosperity” the nation
       enjoyed under previous Republican
        Herbert   Hoover
         Problems in the Stock Exchange
               signal the Beginning
   8.    Most widely used gauge of the health of the stock market, in
          the 1920’s and still today.
             Dow Jones Industrial Average
   9.    Term describing the stock market of the late-1920’s.
             Bull Market
   10. Practice of purchasing stocks in the interest of turning a quick
        profit. Too much of this creates an unstable stock exchange.
             Speculation
   11. Purchasing of stock by paying a small amount up front and
        taking out a loan for the rest, tied a person’s fate to the
        fluctuation of stock prices.
             Buying on Margin
   12. Day the Stock Market crashed, resulted in massive business
        and Bank failures and dramatic spike in unemployment.
             Black Tuesday
      The “Happy Days” are Gone
   13. Term describe the horrific economic
        disaster that occurred in the United
        States between 1929 and 1940.
          The Great Depression
   14. One of the first crises to hit the United
        States economy after the crash was
        rampant _____ failures, caused by
        people panicking withdraw and hoard their
          Bank
   2009 saw the most Bank Failures of any year
    since the Great Depression.
    Is the Answer less trade, really?
   15.Raised U.S. Tariffs to their highest level
       at that point, caused other nations to
       close their markets to American
        The   Hawley-Smoot Tariff
    Mother Nature doesn’t help any
   16.Natural disaster related to the
       depleting of the soil in the Midwest,
       strong windstorms caused massive
       dust clouds that killed livestock and
       severely damaged crop harvests.
        The   Dust Bowl
                     FDR vs. Hoover
   17. Policy supported by Franklin D. Roosevelt
        and opposed by President Herbert Hoover,
        it provided assistance directly to the people
        that were suffering.
          Direct Relief
   18. Concept supported by President Hoover that
        was based on the belief that people needed
        to pull themselves out of this distress by
        finding jobs and not depending on handouts.
          Rugged Individualism
    Hoover’s efforts are “too little, too
   19. The best example of a Public Works Project under the Hoover
        administration, it created jobs of thousands of people and was
        later renamed Hoover Dam.
           Boulder Dam
   20. Derogatory name for the shantytowns that sprung up all over
        America. It was designed to assign blame for the poverty
        during the Depression on Herbert Hoover.
           Hoovervilles
   21. Act of Congress passed and signed by Hoover that provided
        loans to citizens to prevent foreclosures.
           Federal Home Loan Bank Act
   22. Commission set up by Hoover to provide loans to businesses to
        prevent them from failing and intensifying unemployment.
           Reconstruction Finance Corporation
    The Hoover Administration gets a
             “black eye”
   23. Group of World War I veterans, they had been promised a
        Bonus that was to be paid in 1945, due to the Depression they
        wanted the Bonus paid in 1932.
           The Bonus Army
   24. Proposed a Bill to Congress that would pay the WWI Vets their
        bonus. Congress did not pass the Bill.
           Wright Patman
   25. Commanded the soldiers that were ordered by Hoover to
        disband the Bonus Army, by force if necessary. Over 1000
        people were gassed by the soldiers, 2 were shot and killed,
        others wounded. This was, arguably, the low point for the
        Hoover Administration.
           Douglas MacArthur

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