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The Great Depression (1928-1932)

The Great Depression (1928-1932). Ch. 21 Review U.S. 11 Mr. Dzicek. Terms & People to Know. Herbert Hoover (R.)- U.S. president during the beginning of the Depression. Speculation- “Gambling” with money one didn’t have in anticipation that the stock would rise.

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The Great Depression (1928-1932)

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  1. The Great Depression (1928-1932) Ch. 21 Review U.S. 11 Mr. Dzicek

  2. Terms & People to Know • Herbert Hoover (R.)- U.S. president during the beginning of the Depression. • Speculation- “Gambling” with money one didn’t have in anticipation that the stock would rise. • Black Tuesday- Oct. 29, 1929. People pulling their money out of the market.

  3. Terms & People to Know • Business Cycle- shows the periodic growth and contraction of the economy. • Hawley-Smoot Tariff (1930)- raised prices on foreign imports. European markets retaliated, thus crippling the international economy. • Hooverville- makeshift shantytowns of tents and shacks built on public land (homeless and unemployed)

  4. Terms & People to Know • Tenant Farmers- Farmers who sold their farms but remained on the land to work for bigger landowners. • Dust Bowl- Dust storms hitting the southern Great Plains (Texas, Oklahoma, Kansas, New Mexico, Colorado). Many people fled to California.

  5. Terms & People to Know • Okies- Dust Bowl refugees that fled for California in search of jobs. • Repatriation- efforts by local, state and federal governments to encourage or coerce Mexican immigrants and their naturalized children to return to Mexico. • Localism- Policy whereby problems would be best solved at local and state levels.

  6. Terms & People to Know • Reconstruction Finance Corporation (RFC)- Created in 1932, gave more than a billion dollars of gov’t loans to railroads and large businesses. Also lent money to bankers. • Trickle-Down Economics- theory that money poured into the top of the economic pyramid would trickle down to the bottom.

  7. Terms & People to Know • Bonus Army- WWI veterans seeking bonuses early. (From Adjusted Compensation Act of 1924). Give bonuses in 1945. Rallied at Washington D.C. Hoover would not sign bill to give benefits early. Turned the army on the vets.

  8. Terms & People to Know • General Douglas MacArthur- was ordered by President Hoover to lead the army into Wash. D.C. to remove the Bonus Army (tear gas, bayonets) (Patton and Eisenhower also involved)

  9. Questions to Consider • What were the major causes of the Great Depression? • How did the prosperity of the 1920s give way to the Great Depression? • How did Herbert Hoover’s policies fail to solve the country’s economic crisis? • What impact did the Dust Bowl have on Mexican-American immigrants? • What demands did the Bonus Army make?

  10. Questions to Consider • What did MacArthur think about the Bonus Army? • What economic practice of the 1920s contributed to the weakening of the European economies? • Who was to blame for the Depression? Private businesses or the government? • Why do you suppose there was a decline in the marriage, birth and divorce rates?

  11. The BIG Question • How did the Great Depression happen, and how did Americans respond to it?

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