THE NATION’S SICK ECONOMY: SECTION ONE
ECONOMIC TROUBLES ON THE HORIZON
 (1.) __________________________________________ can barely make a profit: railroads, textiles, coal, lumber, and steel
 (2.) During WWI, farmers plant more and ________________________________
 After WWI, the problem is….*
________________________________________________________________________
________________________________________________________________________
 Consequences for banks and farmers*________________________________________________________________
_______________________________________________________________________
 (3.) Americans are spending less because of rising prices, stagnant wages, and
__________________________________________________ in previous years
 (4.) Buying on credit*
________________________________________________________________________
________________________________________________________________________
 The problem is…*___________________________________________________________________
________________________________________________________________________
 (5.) There is a ___________________________ between the rich and the poor
HOOVER TAKES THE NATION

 Herbert Hoover vs. Alfred E. Smith*
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 A prosperous economy where Americans invest _________________________
 Dow Jones Industrial Average*
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 (6.) Speculation*
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 (7.) Buying on Margin*
_______________________________________________________________________
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THE STOCK MARKET CRASHES
 Early Sept. 1929, stock ________________________________________________
 Oct. 24 th market plunges
 (8.) Black
Tuesday*_______________________________________________________________
_______________________________________________________________________

 Shareholders try to sell before prices went lower (30 billion lost by mid-
November)
 People who bought stocks on credit left _________________________________
FINANCIAL COLLAPSE
 Great Depression*
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_______________________________________________________________________
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 People rush to banks to withdraw money, but the money _________________
 1929: 600 banks close; 1933: 11,000 banks close
 1929: 104 billion; 1933: 59 billion
 90,000 ________________________________________________________________
 One in every ________________ Americans was out of a job (25 percent)
 Europe _______________________________________________________________ with WWI debts; Treaty of Versailles and Germany
 Hawley-Smoot Tariff*
_______________________________________________________________________
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HARDSHIP AND SUFFERING DURING THE DEPRESSION: SECTION TWO
THE DEPRESSION DEVASTATES PEOPLE’S LIVES
 In cities, people lost jobs, were evicted, and live on the streets

 Hoovervilles/shantytowns*
_______________________________________________________________________
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 Soup kitchens and bread lines*
_______________________________________________________________________
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 African Americans and Latinos experience worse
 Rural areas have an advantage*
________________________________________________________________________
________________________________________________________________________
 Yet, thousands of farmers do lose their farms to _________________________
 Dust Bowl*
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 Families migrate to _________________________ and coastal states
EFFECTS ON THE AMERICAN FAMIY
 Men have difficulties because they cannot support their ________________
 The _________________________________________________________________
 No direct relief*
________________________________________________________________________
________________________________________________________________________

 Women work hard to support their families: canned food, sewed clothing, and managed budgets
 Worked outside the home but __________________________________________
 Poor diets and lack of health care ______________________________________
 School taxes cut*
________________________________________________________________________
________________________________________________________________________
 Teenage children wander in ____________________________________________
 Suicide rate increases*______________________________________________________________
______________________________________________________________________
 People admitted to ____________________________________________________
 Not as many ___________________________________________________________
 ________________________________________________________________________
 Marriages and raising families are put off
HOOVER STRUGGLES WITH THE DEPRESSION: SECTION THREE
HOOVER TRIES TO REASSURE THE NATION
 Herbert Hoover tries to reassure Americans that the economy will be fine
 Americans need to be ____________________ and go about business as usual
 (1.) Voluntary Action*
_______________________________________________________________________
_______________________________________________________________________

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 (2.) Hoover Dam*
________________________________________________________________________
________________________________________________________________________
 Farmers anger with Hoover causes damage*
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
 Hoovervilles, Hoover blankets, and Hoover flags
HOOVER TAKES ACTION
 Federal Home Loan Bank Act*
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 Reconstruction Finance Corporation*
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GASSING THE BONUS ARMY
 Bonus Army*
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 Hoover thought they were communists and criminals
 ________________________________________________________________________
 ________________________________________________________________________