Chapter Fourteen Notes

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Chapter Fourteen Notes: The Great Depression

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*

_______________________________________________________________________

_______________________________________________________________________

____

A prosperous economy where Americans invest _________________________

Dow Jones Industrial Average*

_______________________________________________________________________

_______________________________________________________________________

____

(6.) Speculation*

_______________________________________________________________________

_______________________________________________________________________

____

(7.) Buying on Margin*

_______________________________________________________________________

_______________________________________________________________________

_______________________________________________________________________

______

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*

_______________________________________________________________________

_______________________________________________________________________

____

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*

_______________________________________________________________________

_______________________________________________________________________

____

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*

_______________________________________________________________________

_______________________________________________________________________

____

Soup kitchens and bread lines*

_______________________________________________________________________

_______________________________________________________________________

____

African Americans and Latinos experience worse

Rural areas have an advantage*

________________________________________________________________________

________________________________________________________________________

Yet, thousands of farmers do lose their farms to _________________________

Dust Bowl*

_______________________________________________________________________

_______________________________________________________________________

_______________________________________________________________________

______

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*

_______________________________________________________________________

_______________________________________________________________________

_______________________________________________________________________

______

(2.) Hoover Dam*

________________________________________________________________________

________________________________________________________________________

Farmers anger with Hoover causes damage*

________________________________________________________________________

________________________________________________________________________

________________________________________________________________________

Hoovervilles, Hoover blankets, and Hoover flags

HOOVER TAKES ACTION

Federal Home Loan Bank Act*

_______________________________________________________________________

_______________________________________________________________________

____

Reconstruction Finance Corporation*

_______________________________________________________________________

_______________________________________________________________________

____

GASSING THE BONUS ARMY

Bonus Army*

_______________________________________________________________________

_______________________________________________________________________

_______________________________________________________________________

______

Hoover thought they were communists and criminals

________________________________________________________________________

________________________________________________________________________

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