The Great Depression Part 1

Local relief efforts included

In capitalism, advertising, human wants and needs create demand.

The Smoot-Hawley Tariff was designed

Immigration to the United States actually increased during the 1930s.

The Great Depression will last in this country until we mobilize for WWI.

A severe and prolonged slow-down or break down in the economy; People react with fear and panic

By the end of 1929, stock losses exceeded the total cost of US involvement in WWI. ($180 billion)

An extended period of economic growth; People have trust and confidence in the economy

WWI vets that marched to D.C. in 1932 to demand the immediate payment of their promised government war bonuses in cash

Banks failures happened when the banks ran out of reserves to pay customers who wanted to withdraw their deposits.

Since employers could hire women more cheaply than men the percentage in the workforce actually increased.

A rapid rise in the crime rate occurred as many unemployed workers resorted to petty theft to put food on the table.

The Federal Troops that attacked the Bonus Army were commanded by

Prior to the Depression, most Americans felt that government should not interfere in every day life.

President Hoover preferred this policy whereby problems could best be solved at local and state levels.

Economic theory that money lent to banks and businesses will trickle down to consumers

Who was the American President at the time of the Stock Market Crash?

President Hoover's policies reflected

Protectionist tariff on imports leading to less trade between America and foreign countries; backfired

A Hooverville was a shantytown built by unemployed and destitute people during the Depression of the early 1930s.

Income gap is often referred to as the unequal distribution of wealth.

Speculation is the excessive and risky investment in stocks, in the hopes of making money quickly.

Marriages were delayed as many men waited until they could provide for a family before proposing to a prospective spouse

According to Hoover, direct relief would reduce the self respect of the individuals that actually provide the aid.

Farmers often left produce to rot in the fields rather than harvest and still see the produce rot.

Paying a small percentage of a stock's price as a down payment and borrowing the rest

Depression can manifest three ways; physical, emotional, and financial.

October 29, 1929; date of the worst stock-market crash in American history and beginning of the Great Depression

Hands off approach to economics

Democratic candidate that defeated Hoover in the 1932 election

Crippling poverty was the norm down South even before the Great Depression.

A slow down in the economy for 6 months in a row; People become nervous and cautious

In the pattern of layoffs