Causes of the Great Depression
This cause of the Great Depression saw the stock market prices plunge as people realized that the stock prices did not reflect reality.
What is the stock market collapse/Black Tuesday/Black Thursday?
This group of people were often the first to be fired and the last to be hired.
What are African-Americans?
What is 1929-1933?
This cause of the Great Depression saw companies produce too many goods, driving the prices of their products down and leading to declining profits.
What is Overproduction?
This group of people experienced a process called repatriation, which meant that they were encouraged, sometimes forcefully, to return to their country of origin.
What are Mexican Americans?
Hoover created this corporation to restore the US's credit and to implement trickle down economics, but it was a failure because banks and businesses kept the money instead of hiring employees.
What is the Reconstruction Finance Corrporation?
This cause of the Great Depression was caused by people paying in installment plans and relying on credit for purchases. When their income declined, they were unable to pay off their debts.
What is personal debt?
These towns sprang up in urban areas when people did not have enough money to find typical lodging. They were constructed out of whatever material they could find, and were named after the president at the time.
What are Hoovervilles?
Hoover believed in this ideology, which boiled down to the fact that, if people worked harder, they would be able to lift themselves out of poverty.
What is Rugged individualism?
This cause of the Great Depression saw too big of a gap between the rich and the poor. When this occurs, people do not have enough money to buy the products that companies make, leading to everyone losing in the end.
What is wealth inequality?
These are the groups of people that left the Midwest during the Dust Bowl in order to find jobs in urban areas, most prominently California.
What are Okies?
This event was caused by veterans being unable to pay back their loans while being promised a bonus, which would be paid out at a later date. The US army sprayed protesters with tear gas, leading to Hoover being even more unpopular.
What is the Bonus Army?
This cause of the Great Depression was the result of people being unable to pay off their loans to banks. As a result of risky loans related to stock speculation and buying on the margin, this happened.
What are bank failures?
These two groups founded soup kitchens across the United States in order to aid unemployed people with no money or ability to buy food.
What are the American Red Cross and the Salvation Army?
This Tariff was a complete disaster; while it was passed to protect American industry it instead led to the total collapse of international trade. It put more business and people into poverty.
What is the Smoot-Hawley Tariff?