Vocabulary/ Review
A little town consisting of shacks
What are shantytowns?
Won the presidential election of 1928 and promised to help end poverty?
Who is Herbert Hoover?
Made low profits and struggled with high debts
Who are farmers?
Source of strength/ unity
What is family?
Intended to keep crops off the market to drive farm prices up
What is the Federal Farm Board?
War that the Bonus Army participated in from 1914-1918
What is WWI?
Economic prosperity
What is an economic boom/ peak?
Accumulated debt from buying on credit and saw decrease in income
Who are consumers?
Number of people unemployed during Great Depression.
What is 25% of population or 12,830,000?
Lowered mortgage rates and allowed homes to be refinanced
What is the Federal Home Loan Bank Act?
Buy now, pay later
What is buying on credit/ installment plans?
Rich got richer; poor got poorer
What is the unequal distribution of income?
Affected farmers and citizens living in the Great Plains.
What is the Dust Bowl?
Communities of shacks renamed to criticize Hoover
What are Hoovervilles?
The period of superficial economic prosperity after the war characterized by things such as parties, rebellion, flappers, and prohibition/speakeasies.
What is the Roaring Twenties?
Business is below normal
What is an economic recession?
Limited international trading with the highest import tax on foreign goods
What is the Hawley-Smoot Tariff?
Intense competition for jobs sparked what with minorities?
What is racial tension/ violence?
Caused public outraged and Hoover's public image to suffer
What is the gassing of the Bonus Army?
What is the Great Depression?
Business picks back up
What is an economic recovery?
What is Black Tuesday/ October 29th?
Great Depression caused many people to lose this in themselves and the government.
What is confidence?
Hoover's philosophy/approach.
What is hands-off/ laissez-faire?