Chapter 24: The Great Depression
1927-1933

     I. 1928-1930
          A. Election of 1928
               1. Agricultural Marketing Act
                2. Smoot-Hawley Tariff (1930)
          B. Stock Market Crash
               1. Causes
               2. Impact

     II. The Great Depression
          A. Some  of the Causes
               1. Uneven distribution of income
               2. Overproduction by farms and factories
               3. Lack of savings
                    a. over-extension of credit
               4. International financial problems (caused in part by our high tariffs)
          B. Impact
              1. Bank failures
               2. Drop in industrial production
               3. Unemployment

     III. Hoover's Response to the Depression
        
     IV. American life during the Depression
               1.  Homelessness
               2. Farm crisis
               3. Mass culture
               4. Bonus March

     V. Resurgent Democrats
          A. Franklin Roosevelt
          B. Election of 1932
               1. Rock bottom
               2. Banking system nears collapse

Key Terms

     margin
     Black Thursday
     Smoot-Hawley Tariff
     bread lines
     soup kitchens
     "Hoovervilles"
     Reconstruction Finance Corporation
     "brain trust"
     New Deal
     Bonus Army
     Twentieth Amendment (1937)
     bank "run"
     bank holiday

Essay Question

     This is your only choice.  Research this question well and explain your answer in detail.

     1.  What conditions and events during the 1920s led America to experience the most severe economic crisis in its 140 year history?