VCJH History 8 Chpt 28 Roaring 20's & Great Depression

Question 0

What happened with the banks and how did the banking situation impact the society?

Answer 0

Banks got in trouble from bad investments in stocks and from people losing faith in them and withdrawing their savings deposits.
Over 1,000 banks went under.

Question 1

What was buying stocks on margin?

Answer 1

Buyer only pays part of stock price and takes out a loan from the stock broker for the remainder of the cost. The brokers get this money from the banks.

Question 2

What was Black Tuesday and when was it?

Answer 2

Tuesday Oct 29, 192?. Day when investors lost faith in market and started to pull money out. It escalated into a crash of the market as everyone was selling and no one buying.

Question 3

What difficulties did African Americans and Asians face during the 20’s?

Answer 3

Racialism. Bullied and killed.
Asians - immigration limited, couldn’t marry whites, or own property.
Blacks - many soldiers couldn’t get jobs, harassed, killed.
KKK - went after blacks, immigrants, Catholics, Jews, and others.

Question 4

How much money did people and businesses lose in the first month after the crash?

Answer 4

$30B More than was spent on WW1.

Question 5

What effects did the depression have on family life in America?

Answer 5

Faced hunger
Homeless
Separation.     Dads left for jobs.  Kids put in orphanages
Sickness
Suicides

Question 6

How did the banking situation get reformed and did it work?

Answer 6

Banking Act in 1933
1.- Deposit insurance up to $2,500
2 - No more investments in stocks & bonds

Question 7

What did the American people think of Hoover during the depression?

Answer 7

After his failed attempts to better things the people elected Franklin D. Roosevelt in a landslide.

Question 8

What was the New Deal and what did it aim to do?

Answer 8

Congress passed 15 major bills with three goals:
1 - immediate relief for the needy
2- jobs creation
3 - reforms to keep future incidents from happening

Question 9

What was the Scopes Trial and how did it affect the American culture?

Answer 9

John Scopes, a teacher, was put on trial for teaching evolution. He was convicted. It prompted a debate between traditionalists and modernists. A law was passed that no teacher could teach about the Bible or related topics.

Question 10

Describe the election of 1932

Answer 10

Won by Roosevelt in a landslide. People were dissatisfied with Hoover’s lack of results. Roosevelt did a great job after elected.

Question 11

What was Roosevelt’s program called? List and explain five programs or attempts at relief that it entailed?

Answer 11

New Deal
Farm support - AAA program paid farmers to produce less
Bank reform - Bank Act to protect deposits
Emergency repair act - gave money and resources to states
Tennessee Valley Authority - jobs and power provided
NRA - gave workers the right to join unions and bargain for contracts