1. 1929-1934

2.  Define 9 terms  List 4 ways people expressed their anger with the government  List 3 laws that Hoover asked Congress to pass to help the people

4.  Stock Market: a place where stocks, or shares in businesses are bought and sold  Depression: a time when the economy of a nation falls sharply  Default: to fail to pay a loan when it is due  Foreclose: to take the property of someone who has failed to pay back a loan  Bonus: money given in addition to what is owed

5.  The 1920s were portrayed as “carefree” or “exciting”  People had barely enough money to pay bills (installment buying)  US economy began to all apart  Almost everyone suffered  How would you feel if all of your money suddenly disappeared?

6.  1920s – fewer than 5% of Americans were wealthy  Yearly income? $3000 or less  Long hours for low pay  Borrowed money to buy something that cost a lot  *also used installment plans*  People turned to the stock market  Hoped to become rich as businesses grew

7.  People made money / wanted to make more money  Began borrowing money to buy stocks  Bought stocks “on margin”  Autumn 1929: stock prices started to drop  To save money, people sold their stocks  Selling stocks dropped prices even more  October 29, 1929: prices plunged  Stocks became worthless  Many people lost their money INSTANTLY  Known as Black Tuesday

8.  US entered a depression  End of the 1920s:  Millions out of work  Farmers lost farms  Banks went out of business  Used their customer’s savings to buy stocks  During WWI: farmers sold crops to forces  Made $$$  Fewer crops were needed / prices fell  Farmers defaulted on loans for equipment  Coal and clothing businesses shrank as big business grew larger  Thousands lost their jobs

9.  1932: economy broken  Businesses closed  Owners could not pay their employees  Jobs were lost  Americans could not afford to buy goods being made  Factories made fewer goods  Needed fewer workers  More jobs were lost

10.  Farmers began to default on payments  Banks foreclosed on their property  1932 / in one day: banks foreclosed on ¼ of ALL FARMS in MISSISSIPPI  Americans lost homes – couldn’t pay bills  People stood in line for hours for free food  Families sold apples / anything for money  Children had to pick through garbage for scraps

11. NNo one had any answers HHoover was asked to help FFelt government charity was not the answer AAmericans should help themselves TThis made people angry  Some workers without jobs joined the Communist party.  Some farmers destroyed their crops rather than sell them for unfair prices.  Some farmers joined together to stop banks from taking their property.  WWI veterans marched on Washington, DC, in 1932.

12.  After WWI, Congress voted to give veterans a bonus  Depression hit, Veterans asked for the bonus  Congress refused to pay it  15,000 veterans formed the Bonus Army  Went and camped on the nation’s capital  Promised to stay until they got their bonus

13.  Hoover feared violence from the Bonus Army  US Troops ordered to drive out the protestors  Veterans’ camps attacked  Most people were sickened – soldiers attacking those who had served the country  **Change needed in the government**

14.  Pg. 354 (Critical Thinking)  USE COMPLETE SENTENCES FOR FULL CREDIT  Pg. 356 (1-3)  Exercise 79

16.  Drought: A long period of very dry weather  Migrant Worker: A worker who travels from place to place to harvest crops

17.  The Depression affected Americans in different ways  Farmers suffered the most  African Americans  Immigrants  Unskilled workers  Unemployment for African Americans was 2x the national average  Many families had to move to try again somewhere else

18.  Families worked together = drew closer  More likely? Families torn apart  Men (hopeless) left their wives and children  Teenagers – felt they should support themselves  Left home  Children had to work to help families  7 years old  Sold newspapers, yard work, ran errands  Had to leave school to work or watch younger children

19.  Newcomers = not welcome  California was suffering also – did not need new workers  Signs at borders  Vegetable / fruit growers – picked crops  Poor living - $1.50 a day  People crowded into living situations  Moved on when job was done

20.  WWI – farmers FARMED  Falling prices = farming a difficult way of living  Drought – turned farms into dust  1934: Farmers had to leave their farms  Often headed west to California  Became migrant workers

21.  African Americans  Poorest Americans for a long time  Lives became harder  1 st workers to be fired  Lower pay (owners were trying to save money)  Jobs lost to white people  1932: ½ of African Americans had no jobs

22.  African Americans: In the South  Farmers – worked land of white owners  Whole families grew cotton  Raised animals and a few crops for themselves  Falling prices = hardships  Lived in shacks  No heating or plumbing  Lived on corn meal, pork scraps, weeks  Violence escalated  Lynching was always a threat

23.  Mexican Americans:  Immigrants moved to large cities / worked in factories  Factory workers = Mexicans worked for lower pay, taking jobs from Americans  Worked on farms  Farmers = Mexicans were taking jobs from Americans  Forced to live in the poorest areas  Immigrants still came to settle in US  Local authorities ordered thousands of Mexican immigrants to leave

24.  Pg. 358 (1-2)  Pg. 361(1-3)  Exercise 80  Bonus points (complete sentences): How much was a loaf of bread sold for during the Depression?

26.  Public works: construction projects paid for by public funds  Relief: help given to poor people

27.  Americans blamed Hoover  Did not do enough to fight the depression  Hoover had no answers  Americans turned to a new leader

28.  Smart businessman / millionaire by 40  WWI – headed bureau that sent troops and clothing to people in need in Europe  Depression Hits: Americans wonder:  How can a smart business man have so few plans?  Why can’t Hoover find a way to help Americans?  Hoover made problems a little worse  Signed a law that hurt trade with foreign countries  Fewer goods into and out of US  Slow trade? Europe defaulted on money owed to the US

29.  Finally realized how serious the problem was  Started public works programs to put people to work  Cut taxes  Lent money to banks and other businesses  Plans were too little too late  Thought helping people would destroy their freedom  Depend too much on the government  Government should not be responsible for solving the problems of the economy

30.  Hoover  Believed Roosevelt’s plan was a danger to US way of life  Roosevelt gave government too much power  Danger = strong government  Roosevelt  Government should do more to help US during this time  WON election – people felt a change was necessary  Speeches were filled with hope for the US

31.  Roosevelt:  Strong government programs to care for suffering families  Called for relief – “no citizen shall starve”  Governments job to end the Depression  “Our greatest task is to put people to work”

32.  Pg. 362 (1-2)  Pg. 365 (1-3)  Exercise 82