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Summary Of Chapter 22 The Nation's Sick Economy

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Chapter 22: Section 1: The Nation’s Sick Economy
Price supports-government would buy excess crops at guaranteed prices and sell them on the world market.
Buying on credit- paying for small percentage of a stock's price as a down payment and the borrowing the rest from banks.
Speculation-Being involved in risky business transactions in an attempt to make a quick or huge profit.
Buying on margin-An choice that allows investors to purchase a stock for only a piece of its price and borrow the rest.
Black Tuesday-October 29, 1929;the worst stock-market crash in American history and lead to the beginning of the Great Depression.
Great Depression-the worst period of economic decline in United States history, beginning in 1929 and ending in 1933. …show more content…

Led many Americans to purchase stock on credit. Later a huge increase of manufacturing outputs.
During 1920s farmers had a very tough time,more than most.They planted more,took out loans for land and equipment hoping for a good payout. Then when the crop prices were declined,led to farmers losing their land.
The uneven distribution of income was bad for the economy because wages hardly increased compared to the large increases in productivity and corporate profits. Wealth was not being shared equally.
Some effects of the stock market crash in October 1929 were that many banks closed, the economy plunged rapidly, and millions of workers lost their jobs which left them struggling to make ends meet.
The Hawley Smoot Tariff had an effect that made the economy suffer,and less U.S goods were being imported. Since there were less foreign imports, government revenues from tariffs decreased. This was the complete opposite of what the government had intended.

Chapter 22, Section 2: Hardship and Suffering during the …show more content…

Foreclosure- is the legal process that banks use to get back the money they loaned when the person who borrowed can't repay the loan. During the 30s, there were thousands of foreclosures.
Dust Bowl- The drought and the farming of land resulted in lots of loose topsoil that the windstorm carried dust for miles.
Direct Relief-cash payments of food provided by the government to be given to the poor.
Tenant Farming- A farmer who rents rather than owning the land.

Chapter 22, Section 2: Short Answer:
Minorities often experienced increased discrimination during the Great Depression because it was much harder for them to find jobs. The whites competed for the same jobs so they harassed the Blacks and Mexicans that resulted in Blacks getting lynched and also Mexicans being deported.
Dust storms affected the entire country by it being traveled across the country and less food was being produced by farmers and the people need food to eat.
Some of the hardships that American families suffered were delayed marriages, birth rates dropped, a lot of stress on families, and the men had to ask wives to work to make ends meet.

Chapter 22, Section 3: Hoover Struggles with the

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