Chapter 25

Hoover's presidency occurred during the onset of the Great Depression, marked by economic hardship and the failure of Hoover's moderate policies to address the crisis.

A severe worldwide economic downturn that began in the late 1920s and lasted through the 1930s.

A significant stock market decline, a factor contributing to the Great Depression.

Hoover's policies advocated limited government intervention in the economy, stressing individual responsibility and a belief in the self-regulating nature of markets.

The period of economic success preceding the Great Depression, often cited as a benchmark for the economic conditions that Hoover inherited.

The belief that the economy functions best when individuals and businesses are primarily responsible for their success or failure

Actions taken by the government, in this case limited, to influence the economy.

A chain reaction of negative economic events that cause further problems

October 29, 1929, the day the stock market crashed.

A dramatic decline in stock prices, leading to significant financial losses.

From 64 to 30 Billion dollar loss of the market during certain time period.

Banks struggled due to stock market crash and the ensuing economic downturn.

Mass selling of stocks, fueled by fear, worsening the crash.

Few individuals had substantial savings to weather market fluctuations.

Vast wealth gap in 1920s, limited buyers for stocks.

Economic troubles, like debt from WWI, strained global financial system.

Questionable Federal Reserve policies regarding banking practices contributed to the crisis.

Fear and selling in the stock market spread rapidly.

Risky investments, like using savings for stock bets.

Numerous banks closed after losing their investments in the stock market.

The Federal Reserve lowered the required cash reserves for banks.

A belief in the unique position and success of the US economy.

The devastating consequences, including bank failures and loss of savings.

President Hoover aimed to create a nation of homeowners and farm owners, ensuring security against death, accident, unemployment, and old age.

Hoover coordinated relief for people affected by the Boxer Rebellion in China and World War I, particularly the Belgians.

Hoover initiated civil service reform (expanded employment opportunities), invalidated oil leases, cracked down on organized crime (Al Capone), and created programs for farmers and the poor.

A government agency created to help farmers with government price supports.

Significant decline in stock market values in the fall of 1929, leading to financial ruin for many.

A severe economic downturn spanning the decade following the 1929 crash, impacting many Americans.

Only a small percentage of Americans held stock investments.

Factors like risky investments, easy credit, and government policies contributed to the crash.

A period of optimism and speculation in the 1920s, fueled by easy credit and low interest rates.

The Federal Reserve's low interest rates and relaxed reserve requirements increased the money supply which boosted investment.

Fraudulent investment schemes that used new investors' money to pay off older investors.

Investment in high-risk ventures with hopes of quick profits.

Advertisements in the 1920s promoted optimism, opportunity, and prosperity.

A real estate speculation frenzy in Florida in the 1920s, where land was bought and sold with little concern for its actual value.

Easy access to loans and credit for investments.

A brief economic downturn that occurred after World War I.

Overinflated real estate values in California, Florida, and other regions leading to a sudden and dramatic collapse of prices.

Investing in assets with the hopes of making quick and large profits, often at significant risk.

A significant and rapid decline in the stock market in October 1929, leading to massive losses for investors and considered the start of the Great Depression.

Purchasing stocks using borrowed money, promising to pay it back later, a tactic that can both amplify gains, and losses if stock values fall.

October 24, 1929, when the New York Stock Exchange lost 11% of its value in one day.

October 29, 1929, the day of the most significant decline in the stock market.

A measure of stock prices of 30 major industrial companies in the US.

Excessive speculation causing a market bubble, ultimately leading to a collapse.

Aggressive sales tactics used to persuade people to make investments, usually with exaggeration and urgency.

Brokerage firms that cater to average investors rather than institutions.

Simultaneous selling of shares as panic sets in, which drives prices down faster.

Stocks of large, well-established companies considered to be low risk, and stable.

One broker fainted on the trading floor from exhaustion during Black Tuesday.

Professionals in finance who are consultants for larger investment strategies that frequently help corporations or institutional investors navigate complex financial decisions.

Financial district in New York City which is the center of the global financial markets.

A severe worldwide economic downturn that lasted from the late 1920s through the 1930s.

The stock market crash led to widespread bank failures and investor losses, triggering a severe economic downturn.

People withdrawing money from banks, fearing bank failure, causing more banks to fail.

Automotive and construction industries suffered significant declines in investment and jobs after the crash.

Reduced consumer spending due to economic hardship decreased business growth and hiring.

Unemployment rose dramatically from 1.5 million to 4.5 million in 1930 due to economic struggles.

Many people who lost jobs didn't publicly beg for help.

Unemployed men waited in lines for free meals in cities.

Marriage and birth rates decreased during the Depression, disrupting family life and creating more challenges.

Children in rural areas had different experiences of the Great Depression than those in cities.

Wages declined, even for companies like Ford, affecting the working class.

The economic downturn worsened throughout 1930, but the full extent of the damage wasn't yet apparent.

The government's response to the Great Depression was limited initially, meaning that businesses laid off workers and tore down employee housing to avoid paying property taxes.

A rapid and significant decline in economic activity.

Excessiveness of purchasing good in the hopes of building wealth or status.

Some people exchanged their dollars for gold and tried to send it out of the country.

During the Great Depression, people made their own clothes due to economic hardship.

Creative shoe repair methods included using cardboard for soles.

Estimated 200,000 children became homeless due to family breakdown during the Depression.

Women sought work, but faced resistance from men and employers.

Some schools and companies banned married women from working.

Women often had jobs like secretaries, telephone operators, social workers.

African Americans had unemployment rates higher than white Americans, 2-3 times.

Rural African Americans faced amplified poverty during the Depression.

Demand for crops decreased, leading to lower prices and farm debt.

Many farmers lost their homes due to inability to repay debts to the banks.

Term for those who lost wealth due to circumstances, not mistakes.

Charities and religious institutions helped some, but resources limited.

State and city financial help wasn't enough and inconsistently implemented.

The Hoover Administration largely relied on private charities for relief during the Depression

Thousands of family farms disappeared between 1930-1935 due to foreclosure.

Shantytowns built by the homeless during the Great Depression, often named after President Herbert Hoover.

World War I veterans who protested in Washington D.C. for early payment of their promised bonuses.

A 1932 protest march by unemployed Ford workers to the Ford factory.

A group of farmers who protested against low crop prices and foreclosures.

An empty pants pocket turned inside out, a symbol of poverty during the Great Depression.

President Hoover's response to the Bonus Army protest, who faced violent removal by military forces.

A severe worldwide economic downturn spanning the 1930s.

Informal settlements built by homeless people during the Great Depression.

Public displays of dissatisfaction or disagreement with the conditions of the Great Depression

A payment promised to World War I veterans.

The demands made by the World War I veterans who protested in Washington D.C.

The difficulties, lack of prosperity, and struggle associated with the Great Depression.

A rise in the number of people without jobs during the Great Depression.

Hoover initially tried to avoid direct government intervention, relying on voluntary actions by businesses and individuals to stabilize the economy.

Hoover held meetings with industrial leaders to encourage them to maintain wages and production.

Congress passed a $160 million tax cut to boost incomes during the initial stages of the crash.

A government agency created to assist, not directly help, those in need through state and private agencies.

A government agency established to loan money to banks and businesses in 1932 to boost financial confidence.

Direct provision of necessities like food and shelter to those affected by the crisis.

Hoover emphasized individualism and voluntary efforts over direct government aid for economic recovery.

Shantytowns built by homeless people during the Great Depression.

A bill proposed in Congress in 1931 to provide $375 million in federal aid to relieve the suffering, but Hoover opposed it.

The RFC primarily loaned money to large banks with sufficient collateral, neglecting small banks.

A 1932 act authorizing the RFC to fund public works projects but with limitations on types of projects.

The RFC's focus on loans to established financial institutions and limited types of public works projects hindered its effectiveness in providing genuine relief.

Hoover's resistance to direct government aid contributed to significant unpopularity, ultimately leading to his loss in the election.

Despite his stance against government aid, Hoover made significant personal contributions to relief efforts.

The economic hardships of the 1930s exposed the limitations of Hoover's approach to the crisis.

A period in the 1930s in the central US where severe dust storms devastated agricultural lands.

Crop prices plummeted, farmlands were lost to foreclosure, and severe drought made farming impossible in the Great Plains.

Federal government aid to the needy was very restricted during the Great Depression.

Widespread failure of crops due to drought and dust storms.

African Americans faced more discrimination and less employment opportunities than white Americans during the Great Depression.

Livestock perished or were sold due to lack of feed during the drought.

Long lines of people seeking food assistance. These were common sights in cities during the Depression.

A new illness caused by inhaling dust from the frequent dust storms.

Documented cases of starvation were reported, especially during the Great Depression.

Massive loss of topsoil due to wind erosion during the dust storms.

Hoover's reputation drastically worsened as the Great Depression deepened and his attempts to solve it failed.

Farmers lost their farms due to inability to pay off loans, especially to larger banks.

Farmers who were displaced from the Great Plains due to the Dust Bowl and economic hardship.

Families depleted savings, exhausted insurance, and borrowed from family and friends.

Thousands lost their homes and became homeless due to poverty and eviction during the Great Depression.

Producing more crops than the market could absorb, leading to falling prices.

The prices of agricultural products, which declined significantly in the 1930s.

Children suffered the most hardship during the Great Depression, facing hunger and malnutrition.

People resorted to desperate actions like prioritizing food for family members and scavenging for edible scraps to survive.

Many small country banks failed due to inability of farmers to repay loans; many were swallowed up by larger banks.

Existing charities didn't have the resources to effectively aid everyone affected by the Great Depression.

Farmers giving up their land due to the devastating conditions.

Methods like crop rotation and fallow periods that were not used, causing soil degradation.

Federal relief efforts during the Great Depression were extremely limited, proving insufficient to address the widespread suffering.

Interviews with Americans during the Great Depression revealed the extreme personal struggles, and hardships faced during the era.

The Dust Bowl was a combination of drought, dust storms, and farming practices that caused widespread damage.

African Americans faced heightened racial discrimination, resulting in worse economic conditions than white Americans.

Large percentages of rural and farm families remained impoverished by 1939, showing the lingering impact of the Great Depression.

Hoover's initial reaction to the Great Depression focused on voluntary action and limited government intervention, relying on Americans' resilience and businesses to resolve the crisis.

Hoover's philosophy that favored minimal government involvement in the economy, believing markets would correct themselves.

Hoover's strategy to encourage businesses to keep workers employed and individuals to endure hardship during the Depression through self-reliance.

Lack of social safety nets left the elderly particularly exposed and heavily reliant on family support during the Depression.

The Great Depression led to widespread poverty, unemployment, and hardship, straining social safety nets and causing immense suffering.

Hoover initially underestimated the scope of the Depression and provided insufficient government aid.

Excessive buying and selling of stocks without regard to their actual value, creating risky and unstable market conditions.

Local groups, like teachers and police in NYC and Chicago, initiated community aid programs to assist the destitute during the Depression.

President Hoover was unprepared for the scale of the Depression, resulting in a slow and inadequate response.

A belief in individual responsibility and self-reliance, which was a principle in American society and profoundly influenced Hoover's policies.

Absence of significant government intervention in the stock market during this period. No stock market regulation existed as a standard response.

Hoover's aid programs had limited scope and were narrowly targeted, reaching only a small section of the affected population.

The public's dissatisfaction with Hoover's limited government response to the Depression grew as conditions worsened.

Hoover departed from office with a remarkably low approval rating, reflecting widespread public discontent and disapproval of his presidency

The societal structure designed to support the elderly and destitute was absent or absent in areas of need.

During the Great Depression, plummeting agricultural prices led to reduced wages or job loss for farm workers.

Landlords evicted sharecroppers due to financial hardship during the Great Depression.

By 1932, approximately half of all Black Americans were unemployed, also facing job discrimination.

Racial violence, like lynchings, rose during the 1930s, especially in the South.

Nine Black boys wrongly accused of rape in Alabama in 1931, leading to a highly publicized case.

The Scottsboro case exposed the racial bias and flawed justice system in the United States.

A severe drought and dust storms across the Great Plains in the 1930s.

Farmers' expansion increased production, depleted soil, leading to problems.

Farmers were affected more than any other group in the US during the Great Depression.

Farming boomed leading up to World War I (and immediately after), farmers took on large debts during this period.

Agricultural commodity prices decreased significantly in 1929.

A major drought beginning in 1931 worsened agricultural conditions and led to the Dust Bowl.

Dust storms severely impacted the Great Plains environment and peoples' lives in the Dust Bowl.

Difficulty organizing civil rights action during the Great Depression made it hard to address racism and violence.

Films in the 1930s that reflected on community and family values, or offered escapism from hardship.

A 1940 film depicting the Joad family's journey from Oklahoma to California in search of a better life.

Films that often featured the 'everyman' fighting against corruption and injustice, particularly in banking and corporations.

A popular song from the 1930s, expressing the struggles of the common man during the Depression.

Entertainment during the Depression, including films and songs, provided an escape from reality.

A comedic movie group that provided entertainment during hard times.

A child actress who was popular during the Depression, bringing youthful charm to audiences.

A famous dance duo providing dazzling entertainment during the Depression.

A series of movies focused on a small-town judge and his son, promoting traditional American values to viewers.