History Chapter 22 questions
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- Who ran for the Democrats in the 1928 election against Hoover?
- Alfred E. Smith
- Who was the first Roman Catholic nominated for president?
- Alfred E. Smith
- What were the stance of the candidates on Prohibition?
- Hoover was for it "dry". Smith was against it "wet".
- What was the campain against Smith about?
- He was Roman Catholic and many Protestants believed that the Catholic Church backed the Democrats and would rule the country if he were elected.
- What was the biggest reason Smith lost votes?
- The Republicans took responsibility for the prosperous 20's and so Hoover had the advantage.
- What's the stock market?
- A system for buying and selling shares of companies.
- What is a bull market?
- A long period of raising stock prices.
- How many Americans had stock in 1929?
- 3-4 million or 10%
- What's buying stocks on margin?
- When people only made a small down-payment on stocks - as low as 10% of the price.
- What is a margin call?
- When a broker demanded the investor to repay the loan at once.
- What is speculation?
- Investors took risks when buying stocks betting that they would go up.
- Why did the stock market crash?
- People started to sell sensing trouble around the corner. Once they did this others saw thee stocks going down and took out their money. This continued in a downward spiral.
- What was Black Tuesday?
- It was on October 19, 1929. On this day stocks dropped $10 - $15 billion.
- In what 2 ways did the stock market crash weaken banks?
-
1. Many banks had lent money out to speculators.
2. Many banks had invested depositors' money in the stock market. - What is a bank run?
- This happens when many depositors decide to withdraw their money at one time for fear that the bank will collapse.
- What were 4 causes for the Great Depression?
-
1. Overproduction and low demand leads to employee layoffs.
2. Low wages reduce consumer buying power.
3. High tariffs restrict foreign demand for American goods.
4. Unemployment reduces buying power further. - What do many economists believe was the cause of the depression?
- Overproduction
- What is the installment plan?
- Buyers could make a small down payment and pay the rest in monthly installments.
- What was the Hawley-Smoot Tariff?
- raised tariffs on imports on 900 items. This hurt American sales abroad.
- How did the Federal Reserve Board's decision not to raise interest rates help cause the depression?
-
1. By keeping rates low, it encouraged members of banks to make risky loans.
2. its low interest rates led business leaders to think the economy was still expanding. - What is a bread line?
- People lined up to receive free handout or food.
- What is a soup kitchen?
- A place private charities set up to give out free meals.
- What is a bailiff?
- A court officer that ejected nonpaying tenants, piling their belongings on the street.
- What is a shantytown?
- A place where homeless people set up shacks on unused or public land and formed a community.
- What is a Hooverville?
- A shantytown that blamed Hoover for their misfortune.
- What is a hobo?
- Americans that wandered around the country seeking job opprotunities.
- What was the "Dust Bowl?"
- This was the region along the great plains that was dry from a drought in 1932.
- Who was Marlene Dietrich?
- An actress that fleed Europe to come to hollywood.
- Who was Greta Garbo?
- An actress that fleed Europe to come to hollywood.
- Thomas Hart Benton
- Led regionalist school, which emphasized traditional American values.
- Grant Wood
- Led regionalist school, which emphasized traditional American values.
- John Steinbeck
- Added flesh and blood to journalists’ reports of poverty and misfortune.
- William Faulkner
- An author who showed what his characters are thinking and feeling before they speak.
- Margaret Bourke-White
- A photojournalist who displayed in Fortune magazine, showed ravages of drought.
- Public Works
- Projects such as highways, parks, and libraries built with public funds for public use.
- Reconstruction Finance Corporation
- (RFC) was set up to make loans to banks, railroads, and agricultural institutions.
- Relief
- Money that went directly to impoverished families.
- Foreclose
- To take possession of a property from a mortgagor because of defaults on payments.
- Bonus Army
- The name the press gave to veterans who marched to lobby Congress to pass the legislation to get a bonus for service in WWI.