On this date the stock market crashed. Stocks alone lost $10 to $15 Billion in value. Market in total lost approximately $30 Billion
What is “BLACK TUESDAY”?
100
Makeshift villages with houses made out of scrap materials.
What are HOOVERVILLES?
100
Term for farm land that could no longer be used because it was too dry
What is the Dustbowl?
100
He believed government relief would take away personal initiative, that people would become dependent on the gov’t, and that the US would fail.
Who is President Hoover?
100
A long period of rising stock prices
What is a BULL MARKET?
200
As a result of the stock market crash investors could not re-pay their loans to banks and/or sought to withdraw savings this happened.
What are bank closures/failures?
200
Mostly affecting farmers, when crop prices dropped, farmers could no longer make mortgage payments, so the banks confiscated their property.
What are farm foreclosures?
200
This program provided jobs, flood safety, and electricity by building dams (in Tennessee first, then other areas later).
What is TVA (Tennessee Valley Administration)?
200
Author of novel depicting life of the Joad family during the Depression
Who is John Steinbeck?
200
A system for buying and selling shares of equity in companies
What is a stock market?
300
Prior to the stock market crash, businesses and companies were making more products than people could afford to buy (and as a result, were losing money).
What is overproduction.
300
They roamed the country, often on trains, in search of work or handouts
Who are HOBOS?
300
Cuts in production, lay offs, factory closures, unemployment, etc. can be caused when this happens
What is a manufacturing slowdown?
300
President Hoover refused to meet with them to discuss a promised monetary bonus
Who are WWI Veterans?
300
On October 24, 1929 the stock market kept dropping. People went from wealth to poverty instantly.
What is “BLACK THURSDAY”?
400
When high taxes are levied against foreign persons and/or companies to dissuade them from selling their goods in the United States
What are high import tariffs?
400
Families who migrated to California after they lost their farms.
Who are Okies?
400
This program created jobs in cities building bridges, highways, airports, post offices (and other government buildings) as well as public works of art and free concerts in cities.
What is the WPA (Works Progress Administration)?
400
Someone who risks money merely hoping for profits.
Who is a SPECULATOR?
400
Buying stock by paying only a fraction of the stock
price and borrowing the rest.
What is buying stock “ON-MARGIN”?
500
As people lost jobs and savings, they began to buy less, which hurt businesses and, especially, farmers economically hard.