Stock market crash - Mondovi School District

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Great Depression/New Deal
Causes – buying goods on credit, overextension of credit, farmer overproduction,
mechanization means less human workers needed, people already in debt, stock
market crash, instability in banking, excessively high tariffs cripple foreign trade
and don’t allow repayments from WWI to be made
Soup kitchen – form of direct relief, people could get food at a soup kitchen during
the Depression to avoid hunger/starvation, often had to wait in long lines, food
may run out
Stock market crash – People bought stocks “on margin”, meaning they had used
credit to purchase the stock – when the market crashed the stocks were worthless,
but these individuals still had to pay for their lost stocks – creates a mass panic on
the market where all try to sell, and no one buys – BLACK TUESDAY – day of
biggest crash – Hoover still president at that time
Speculation – the idea of “playing” the stock market, taking risks to pick out stocks
that can be bought cheaply and sold for a profit – could make a person money in
the long run if the right stocks were chosen
Buying on margin – part of “playing” the stock market, people put a percentage
down on stocks, and take a loan out for the rest of the stock price, loan must be
repaid
Hawley-Smoot Tariff – an effort by the government to protect U.S. interests and
encourage Americans to buy goods made in the U.S. by putting large taxes on
imports coming into the U.S. from other countries – cripples international trade at
the beginning of the Great Depression – hurts the economy further
Herbert Hoover – U.S. president during the stockmarket crash and beginning of
Great Depression – blamed for much of the economic hardship by the public.
Soundly defeated by FDR in 1932.
Direct relief – where money or food is given directly to people to assist them – the
New Deal, under FDR, provided direct relief (FERA, Social Security). HOOVER does
NOT offer direct relief, instead, believed in RUGGED INDIVIDUALISM – a person
must rely on themselves, their families, or their communities for assistance.
Giving handouts would further shame the American population. Hoover also
believed in VOLUNTARY COOPERATION – businesses would not lay off employees,
employees would not ask for raises in salary or go on strike. Hoover later believed
in LIMITED government intervention (example – Hoover Dam).
Bonus Army – group of WWI veterans that came to get a promised monetary
bonus for their service during WWI – President Hoover sends them away as he has
no money to give – they remain in Washington and Hoover orders troops to
disband them. The Bonus Army is gassed, people are killed/blinded. This is the
“last straw” as Hoover has no support/approval from the American people
NEW DEAL – FDR’s plan for relief, recovery, and reform – legislation created laws
and agencies to attempt to heal the problems of the Depression
- CCC – Civilian Conservation Corps – young men that repaired roads, built
national parks, cared for the environment
- WPA - Works Progress Administration – employed the MOST people out of
all the New Deal agencies
- AAA – Agricultural Adjustment Act – paid farmers to destroy crops and lessen
production to attempt to increase the prices of farm goods
Cinderella Man – real-life story of boxer Jim Braddock and his family – shows their
struggles to survive during the Great Depression
Fireside chats – FDR’s way of communicating in plain language to explain his New
Deal policies in simple language to encourage support for the programs – very
popular, the majority of Americans listened to his messages
Hoovervilles – shantytowns built to house the poor and unemployed, their names
shows how unpopular Hoover was with the public – he was BLAMED for the Great
Depression as most people felt he could have done more
Dust Bowl – Dust storms of great destruction that struck Middle America – led to
great poverty as no food could be farmed or harvested – led an exodus of farmers,
called “Okies” to the West Coast region for farm work – Steinbeck writes “Grapes
of Wrath” about this group – important Great Depression novel
World War II
Hitler – German dictator that controlled Germany and took over much of Europe
during WWI – believed in Nazism – a form of fascism with extreme nationalism,
racial superiority of the Aryans, territorial expansion, military buildup – the world
looked on with awe and fear – got Germany out of the Depression by openly
rearming Germany, against the provisions of Treaty of Versailles (settled WWI)
Battle of the Bulge – the last offensive attack by the Germans during WWII –
battle lines created a bulge-like shape, Americans hold out and eventually win this
battle
Pearl Harbor – Japanese attack on the US after the US refused to lift their embargo
on war materials as a “punishment” or “statement” about what Japan had been
doing internationally (taking countries for their own use - Manchuria) – Japanese
plan for over a year and drill on a Japanese “sister” island, 3 waves are planned,
only 2 are launched, destroyed much of the US fleet – Arizona sinks, men trapped
in the Oklahoma. Forces the US to declare war on Japan due to surprise attack on
Dec. 7, 1941 – while the US wants immediate revenge on Japan, US troops focus
on fighting in Europe as the British need serious help to hold out against the
Germans
FDR – one of the most influential US presidents. Credited with putting together
hundreds of New Deal programs for relief, recovery, reform. Important WWII
president for the majority of the war
United Nations (UN) – international peace keeping group formed after WWII,
takes the place of Wilson’s League of Nations – will work to keep countries
working diplomatically as opposed to beginning a war – the Security Council makes
military decisions – 5 member nations have permanent positions on that council
Munich Conference – meeting between Germany (Hitler)/Italy (Mussolini) and
Britain (Chamberlain)/France (Daladier) after Germany had aggressively taken
territories (Rhineland and Austria) with no response from the British or French. At
Munich, Hitler promises to stop taking territories if he is given the Sudetenland
(Czech). He claims all of these areas have German people living in them that need
to be a part of the German empire. The Allies give in to avoid another world war
(look like wimps). Hitler soon after takes the rest of Czech., and then attacks
Poland. Britain and France pledge to defend Poland and enter the war. The attack
on POLAND is the OFFICIAL START of WWII in EUROPE - 1939.
Appeasement – giving into an aggressor – this happened at the Munich
Conference – Chamberlain is proud of the pact, while Winston Churchill is very
ANGRY about it - calls it a policy of “shameful appeasement” that will result in war
anyway – he is correct
Churchill – very influential leader – P.M. of Great Britain during the war – worked
closely with FDR before and during WWII, greatest moment may have been
London withstanding the German air assault during the Battle of Britain
Chamberlain – P.M. of GB when Munich Pact is signed
Mussolini – Italian dictator that also was a fascist – believed in extreme
nationalism, military expansionism, part of the Axis Tripartite Pact with Germany
and Japan. Invaded and took Ethiopia in 1935 to show Italian superiority – tested
weapons on the Ethiopians
Nuremberg laws – laws passed in Germany that took away citizenship rights for
Jews, also forced Jews to wear to Star of David for “identification” and humiliation
– just the beginning of the Holocaust
Nuremberg trials – following WWII, Nazi war criminals were put on trial for crimes
against humanity – some killed themselves, hid, or fled the country
Lend-Lease Act – US will lend or lease money/war supplies to allied countries
(GB/Soviet Union) provided they pay us back after the war – helps to maintain
neutral status of the US while assisting the Allies (obviously, we were not truly
neutral)
Truman – president that “finishes” WWII – takes over after FDR dies – has to make
the decision to use the atomic bomb on Japan, or to proceed with a mainland (US
troops deployed) invasion of Japan to finally end WWII – chooses to use the
bombs as he did not want more US troop casualties, was also concerned with the
tenacious fighting style and mentality of the Japanese (remember the kamikaze
pilots)
A-Bomb – developed under the “Manhattan Project” by the smartest scientists the
US could find – planned use as a master weapon to end WWII by supreme force –
2 bombs were dropped on Japan in Hiroshima and Nagasaki – forces a Japanese
surrender to officially end WWII in Sept. 1945
Selective Service Act – drafted men into the US military for service during WWII
Axis powers – Tripartite Axis Pact members – Germany, Italy, and Japan – common
goals
WWII – fight to stop powerful dictators from suppressing freedom and democracy
around the world (Axis vs. Allies (Big Three = US, GB, USSR))
Douglas MacArthur – commander of fame in the Pacific theater – vows “I shall
return” when the Philippines are taken by the Japanese (he does return and take
the islands back), also helps to rebuild Japan. Korean War commander that retakes
the South after a near loss, also gets fired by Truman for pushing to use atomic
weapons on China
Blitzkrieg – German military strategy to overwhelm the enemy with amazing force
– “lightening war”
D-Day – June 6, 1944 - Operation Overlord to invade Nazi-occupied Europe –
invasion point on the beaches of Normandy, France – planned for 2 years, mass
casualties on both sides – Allies eventually victorious
Island hopping – strategy to win WWII in the Pacific – the US chooses the most
important islands of strategic importance to take from the Japanese, moving closer
and closer to Japan – plan to eventually make a mainland invasion
Stalin – oppressive dictator of Communist USSR for 30 years – paranoid leader that
orders the executions of his closest friends and kills about 20 million of his own
people in the “Great Purges” and the move to industrialize Russia by shipping out
grain and starving his own people. Was a part of the Big Three after nonaggression pact (when Germany attacks Poland, USSR gets half of conquered
Polish territory) between USSR and Germany is broken by Hitler – order troops to
never surrender – Stalingrad is the turning point in Europe and marks the decline
of Germany – Russians have the greatest casualties in WWII – hesitant/hostile to
the Allies after WWII when it is time to rebuild Europe – leads to Cold War
Holocaust – extermination of 11 million people (6 million Jews) during WWII by
the Nazis – stripping of rights, forced relocation, work/concentration camps, mass
extermination in the gas chambers (and countless other ways) – Schindler’s List
Genocide – deliberate and systematic extermination of a group of people
Cold War & 1950s
NATO – North Atlantic Treaty Organization – defense alliance formed by Western
European countries/US – had two purposes – each nation pledged to defend one
another if attacked by the USSR – no member nations would begin an attack on
the USSR – USSR feels threatened by the formation of this group
Cuban missile crisis – JFK’s dealings with Soviet leader Nikita Khrushchev –
Khrushchev talked Castro into allowing Soviet nuclear missiles into Cuba – the US
is worried as these missiles can easily reach the US before they would be able to
respond, US launches a naval blockade – despite the intense pressure, JFK and
Khrushchev reach an agreement – USSR will remove all missiles from Cuba, US will
not attack (public promise) and will also remove missiles from Turkey (secret to
the public) – crisis defused – hotline between the two nations develop for easier
communication. This was the most dangerous foreign affairs event during JFK’s
presidency
Castro – Cuban communist dictator that the US tried to remove under Eisenhower
and JFK – made communist connections with the USSR after the US cut off trade
with them
Bay of Pigs – inherited problem of JFK – US’s plan to rid Cuba of Castro’s
leadership – CIA trains Cuban exiles to attack Cuba at the Bay of Pigs in Cuba – was
supposed to look like a Cuban revolution. Cubans outnumbered the
revolutionaries and were aware/prepared for the attack. US is embarrassed and
humiliated, weakens perception of JFK
Warsaw Pact – defense alliance made up of USSR and all of its Eastern European
satellite nations
Domino theory – (Eisenhower) theory that countries on the brink of communism
would fall like dominoes if one of the countries became communist
Brinkmanship – (Dulles) US is willing to go to the brink of nuclear war with the
Soviets – frightens millions of Americans – increases the nuclear arms race
between the two global superpowers
Suburbs – communities built on the edges of cities – very popular in the 1950s –
homes all looked similar (cookie-cutter homes), buys into the idea of 1950s
cultural conformity
H-bomb – Hydrogen bomb, developed first by the US after success with the
Atomic bomb – since Soviets developed the A-bomb (due to leaked secrets by
spies) the US hurries to develop a more terrible/threatening weapon and
succeeds, the Soviets soon develop their own H-bomb
Space race – when Soviets successfully launch the first satellite, Sputnik, the US
funnels massive amounts of money into science and math education, as well as
the space program to attempt to best the Soviets in the “race to space”
South Korea – attacked by the North – asks the UN for assistance – the UN does a
“sneak” vote on the Security Council when China isn’t being recognized and USSR
is boycotting over China’s status. The war actions are then approved by the
Security Council vote as those two nations were not truly represented
Espionage – threat of American citizens acting as spies to help the Soviets – part of
the “red scare”
Red Scare – American thought that Communists could take over the entire world –
frightened the average American
Joseph McCarthy – US Senator from Wisconsin that leads a “witch hunt” against
suspected communists working for the US government – has no proof for his
reckless accusations
Eisenhower Doctrine – US will come to the aid of any country in the Middle East
that is threatened by Communists or a communist takeover
Truman Doctrine – US will come to the aid of any country under threat of
communist takeover – used to stall communists intentions in Greece and Turkey –
IS NOT USED when Hungary tries to get out of Soviet control in 1956
Marshall Plan – massive economic aid package to help war ravaged Europe –
rebuilding was necessary to get international trade working again and to help war
refugees. In addition, if countries take “Marshall money” they are less likely to
accept Soviet aid or think about adopting communism.
Containment – US policy to contain communism at all costs, includes aid, military
assistance, fighting in wars, etc.
Limited Test Ban Treaty – bans the testing of nuclear weapons in the atmosphere
– shows progress between US/USSR relations during 1960s Cold War
Chinese Civil War – war fought after Japanese are defeated in WWII – between
northern Communists led by Mao Zedong and the southern/eastern Nationalists
led by Chiang Kai-shek. US backs the Nationalists and sends millions of dollars in
an effort to contain Communism. Communists appeal to the peasants (the
majority of the population) and win the war – US DEVASTATED, as containment
FAILED in China. US refuses to recognize Communist China as a nation, or in the
UN
Korean War – after WWII, the US helped set up the South, while the USSR helped
set up the North – eventual reunification between the two countries is the
ultimate goal. War fought between the UN (its first big test) and North Korea – the
North attacked the South (Korea) thinking that US would not help defend the
South, and the entire nation would be communist. MacArthur is the commander
in Korea, and most of the UN troops are American. Fighting was brutal, and the UN
forces almost lose, China helps to fight for the North – Mac Arthur wants to attack
China with nuclear weapons, Truman does not allow it – Mac Arthur is eventually
fired after public “complaining” about Truman. The end of the war is a
STALEMATE – the border remains much the same, two different countries still
exist today. However, containment WORKS in KOREA.
Taiwan – Chinese Nationalists are forced onto this island after losing the Chinese
Civil War. The US recognizes Taiwan (Formosa) as China, not mainland Communist
China
Conformity – 1950s cultured encouraged conformity – families stayed together,
lived in the suburbs, the father had a white-collar job and worked to buy material
goods better than those of the neighbors, the mother was a homemaker that
catered to her family’s every whim, the two kids were perfect and life was grand…
questioned by the counterculture of the 1960s.
Berlin airlift – USSR cuts off West Berlin after West Germany reunifies and joins
NATO – the US/British fly tons of food and supplies into Berlin everyday to ensure
its survival – airlift is successful, Soviets eventually back down
Hollywood Ten – Ten Americans employed by the film industry refused to testify
and answer questions regarding communism in the movies. They were jailed for
their refusal – a part of the “red scare”, American anti-communist fervor
Rosenbergs – An American couple accused of passing secrets regarding the atomic
bomb to the Soviets. Rosenbergs plead the 5th, are convicted, and sentenced to
die for espionage. Eisenhower does not issue a stay on the execution, the
Rosenbergs are the fist Americans executed for espionage.
Alger Hiss – government employee accused by Whitaker Chambers of passing
American government secrets to the Soviets. Convicted of perjury, as the statue of
limitations on espionage had expired.
HUAC – House (of Representatives) Un-American Activities Committee –
investigated Americans that were suspected of being Communist – dealt with the
Hollywood Ten investigation
Civil Rights & 1960s
Segregation – separation of races in public places of facilities – legally based on
the decision in Plessy v. Ferguson that established the doctrine of “separate but
equal” meaning segregation WAS LEGAL – if the state was able to provide equal
facilities for both races (whites and “coloreds”). South wants to keep segregation
as a way of white-dominated life during this time period
Jim Crow laws – laws that enforced segregation practices – based on “separate
but equal” yet again
Plessy v. Ferguson – LANDMARK Supreme Court case that allows segregation as
long as facilities are equal – in reality, facilities are FAR from equal
Martin Luther King, Jr. – influential civil rights leader that believed in using civil
disobedience/soul force to stand up for denied African-American rights, president
and leader of Southern Christian Leadership Conference (SCLC) – make important
speech in 1963 during the march on Washington for jobs and an end to
discrimination – was eventually assassinated by James Earl Ray
Rosa Parks – NAACP secretary that refused to give up her seat on a city bus to a
white man, going against segregated busing laws in Montgomery, Alabama.
Started the Montgomery bus boycott – eventually the Supreme Court rules
segregated buses unconstitutional – boycott lasted 11 months, was successful in
the end
Thurgood Marshall – influential lawyer for the NAACP - represented Brown in
Brown v. Board of Education – was later appointed as the FIRST African-American
Supreme Court Justice
Brown v. Board of Education – a combination case of 4 school desegregation cases
– Linda Brown was not allowed to attend an all-white school several blocks from
her home – she walked miles to an all-black school. The case decision resulted in
Supreme Court ruling that segregated schools were unconstitutional – school are
to be integrated by this decision – this led to…
Little Rock Nine – Nine African-American teens attend all-white Central High
School in Little Rock, Arkansas. Governor Orville Faubus resists integration by
using the Arkansas National Guard to keep the students OUT… Eisenhower later
takes the National Guard and forces the school to be integrated. The nine
students were continually protected by guardsmen, and finished the school year.
The following year, the school shut down to halt integration efforts.
Malcolm X – more militant, radical civil rights leader. Converted to Nation of Islam
– believed in black separatism (living in an all-black neighborhood, buying from
black-owned businesses, etc.), fighting back if attacked, and that whites would
never accept blacks into a white-dominant society. Later worked to secure the
vote for black for increased political power – was also assassinated
Black Panthers – More militant African-American rights group that began in
California. Used violence if necessary, worked to end white police brutality, and
gave community members needed services like jobs, education, and breakfast
programs for kids – seen as a threat, and followed by the FBI
Montgomery bus boycott – economic pressure was applied to the Montgomery
city bus company when they refused to integrate buses and treat blacks and
whites equally – blacks walked or carpooled for 11 months – eventually successful
New Frontier – JFK’s ideas for legislation (laws) to end poverty, fund the space
program, start medical assistance for the elderly, cut taxes, and assist developing
countries. Congress did not agree/approve much of these ideas. However, the
Peace Corps, an increase in minimum wage, and large funding for the space
(NASA) program are approved.
John F. Kennedy – very popular president – did not win the 1960 Presidential
election by very much against Nixon – performed much better in the televised
debate and was liked by most because he was young, handsome, came from a
wealthy family, and was charismatic. However, he was the first Catholic president
– this worried the public. He did not have long to serve, as he was assassinated by
Lee Harvey Oswald (lone gunman theory) in Dallas, Texas. Many Americans
thought a conspiracy was behind the killing, Lyndon Johnson takes over as the next
president.
Warren Commission – government report that “solved” the question of JFK’s
assassination. Many felt this investigation was not thorough and did not believe in
its authenticity – found that Lee Harvey Oswald acted alone when killing the
president
Vietnam War
Richard Nixon – President that takes over after LBJ – launched illegal bombing
raids on Laos and Cambodia when they were not officially involved in the war ends the Vietnam War by beginning strategy of Vietnamization, this turned the
war over to ARVN and got the US troops out of Vietnam
Tonkin Gulf Resolution – LBJ’s unofficial declaration of war on Vietnam without
Congressional approval – a US patrol boat was “fired upon” by the Vietnamese in
international waters. It is uncertain if this claim was true – this will later prompt
the War Powers Resolution – took away the President’s power to declare war, as
Congress must do it according to the Constitution
Tet Offensive – massive counterattack by the VC during Vietnamese holiday –
catches US troops by surprise – the VC eventually lose - loss of public approval for
LBJ
Escalation – sending more US troops to fight in the Vietnam War
Rolling Thunder – before committing troops to the Vietnam War, the US launches
massive bombing raids and air strikes
William Westmoreland – US commander in Vietnam – continually asked for more
troops
Vietnam War – Civil war between the north and south (of Vietnam). The north was
led by Communist leader Ho Chi Minh, the goal was to get rid of the French
(imperialism – “French Indochina”) – US steps in with money and military aid to
help the French, after the French lose in Dien Bien Phu to stop the spread of
communism (domino theory applied in Southeast Asia) Involved Presidents
Truman - Nixon
My Lai Massacre – innocent Vietnamese villagers are murdered by US troops in an
ambush
Kent State – members of the National Guard fire upon protesting students at Kent
State in Ohio – 7 are killed – this even increases public outrage over the war
Draft – A draft is instituted to provide troops to fight in the Vietnam War – the
draft is VERY unpopular with the public. Some young men “dodge” the draft by
fleeing to Canada or Sweden, or go to college, or claim medical problems to get
out of the draft/active duty. Vietnam is seen as the “poor man’s war” as the poor
are less likely to get medical or college excuses
Vietnamization – policy to get the US out of the Vietnam War. US troops train
ARVN soldiers to take over the fighting for American troops, results in a gradual
withdrawal
Viet Cong – enemies working for NORTH VIETNAM, located in SOUTH VIETNAM –
US combat troops were never sure which villagers could be trusted, as any of them
could be part of the VC (VC were also called “Charlie” by the troops)
Ho Chi Minh – leader of the Communist north – wanted Vietnam’s independence
from ALL foreign powers/countries – and end to all imperialism in Vietnam
ARVN – Army of the Republic of Viet Nam – Vietnamese troops from the SOUTH
Johnson – had a great deal of difficulty with war policy in Vietnam, did not run for
reelection as a result of his lost popularity and disillusionment with the war in
general (hermit with long hair and finger nails)
Geneva Accords – official settlement of the fighting between the French and the
Vietnamese – after the lost battle at Dien Bien Phu
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