Ch. 14 Study Notes Great Depression
1. Farmers’ debts increased in the 1920s.
2. How did Hoover try to help the economy after the stock market crashed? He asked businesses not to lay off
their employees.
3. Who made up the Bonus Army that marched on Washington? WWI veterans and their families.
4. Who ran for president in 1932? Herbert Hoover as a Republican and Franklin Roosevelt as a Democrat.
5. What does buying on margin mean? Borrowing money to help pay for the stock
6. What name was given to the men and boys who rode the rails as they searched for work? Hoboes
7. Direct relief describes a government system for giving payments or food to the poor.
8. An unintended effect of the Hawley-Smoot Tariff Act was a substantial decrease in US exports.
9. During the Depression, charitable organizations tried to help the urban poor by opening soup kitchens.
10. During the Depression, many children suffered from diet-related diseases.
11. Buying stocks on the chance of a quick profit without considering risks is known as speculation.
12. In calling shantytowns “hoovervilles,” people conveyed their disgust with Hoover.
13. The aim of the Federal Home Loan Bank Act was to prevent farmers and homeowners from losing their
property.
14. An example of the psychological stress caused by the Great Depression was the rise in the number of people
who committed suicide.
15. Herbert Hoover’s approach to the Depression economy was based on a belief in voluntary cooperation.
16. During the Great Depression, the overall unemployment rate was about 25 percent.
17. One long-range effect of the Great Depression was that many people developed habits of saving and thriftiness.