The Great Depression (1928-1932)

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 didnt
  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 govt 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 Hoovers policies fail to solve
  the countrys 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?