Chapter 22 (section quiz 1)
4. What natural disaster hit farmers on the Plains? What caused this disaster? Describe its effect.
The Dust Bowl, overgrazing, drought, and erosion caused the Dust bowl. Its effect was brutal, crops dried up, livestock died, and land turned to dust on top economic struggles. Because of this many farmers put mortgages on their farms and move away.
Define "buying on margin."
"buying on margin is when an investor paid only part of stock's purchase price In cash, usually 10 percent, and borrowed the rest from a broker, using the stock as collateral. The broker then borrowed money from banks and corporations to cover the loan made to his client.
1. List five specific causes of the financial crisis.
1. Economic slowdown 2. Overuse of credit 3. Speculation 4. International Economic Problems 5. Government Tampering
Explain what the "Bonus Army" hoped to accomplish by going to Washington, D.C.
the Bonus army hoped to pressure Congress to give them there life insurance bonus early.
What were "Hooverville's?" What were some other "Hooverisms" used during the Depression?
Hooverville's are towns of small houses built outside the city from scrapes by unemployed poor people. Hooverism was used on flags and blankets.
Should the nation have blamed Herbert Hoover for its financial problems? Explain your answer. United Statesf or the sins of the 1920s? Explain your answer.
I think the nation should have blamed Herbert Hoover for its financial problems because even though he had a logical philosophy, he didn't execute in way that helped many people.
