APUSH Chapter 25

Hoover's Background

Orphaned at nine, Hoover's success as a mining engineer and humanitarian shaped his belief in individualism and charity.

Agricultural Marketing Act (1929)

Established the Federal Farm Board to aid farmers during the Depression but proved insufficient.

Bull & Bear Market

Bull market sees rising prices, bear market the opposite; the 1920s had a strong bull market.

Black Tuesday

(Oct. 29, 1929) Stock market crash leading to a loss of two-thirds of stock value, impacting public confidence and spending.

Ponzi Schemes

Charles Ponzi's fraudulent investment scheme using later investors' money to pay early ones, costing $20 million.

Causes of the Great Depression

Unbalanced foreign trade, overcapacity, mechanization, easy credit, income inequality, and lack of social safety net.

Dawes Plan (1924)

US lending to Germany to pay reparations, impacting global economy during the Depression.

Reconstruction Finance Corporation (1932)

Created by Hoover to aid industries and criticized for its trickle-down approach.

Hoovervilles

Shantytowns named after Hoover where the homeless lived during the Depression.

Norris-La Guardia Act (1932)

Pro-labor bill outlawing yellow-dog contracts and injunctions against strikes.

Bonus Army (1932)

WWI veterans seeking bonus payment faced forceful eviction by US troops under Hoover's administration.

The Scottsboro Boys

Nine African American youths wrongly accused of rape, leading to landmark Supreme Court cases.

Dust Bowl

Severe drought and poor farming practices causing erosion in the Midwest, displacing farmers.

The Grapes of Wrath

Steinbeck's novel depicting Dust Bowl hardships and migrant families in the 1930s.

Hoover and Latin America

Hoover's policy shift towards non-intervention in Latin America, preceding FDR's Good Neighbor policy.

Hawley-Smoot Tariff (1930)

Highest peacetime tariff in US history, leading to reduced trade with Europe.

Clark Memorandum

Refuted Roosevelt Corollary and caused a return to the original Monroe Doctrine, thus a policy of non-interference in Latin America.

The American Legion

(1919) A social club and lobbying organization in support of veterans and against socialist groups.

Hoover’s Rugged Individualism

President Herbert Hoover's belief in self-reliance and minimal government intervention during the Great Depression.