Chapter 32 Key Terms - "The Politics of Boom and Bust" (1928-1932)

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Last updated 5:13 AM on 4/9/26
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5 Terms

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Farmers

  • 40% of Americans were still farmers.

  • Farming equipment was bough on credit, and crops were OVERPRODUCED at LOW PRICES.

  • President Calvin Coolidge didn’t subsidize farmers in the mid-1920s.

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Election of 1928

  • Herbert Hoover (Republican).

  • Alfred E. Smith (Democrat) - Catholic and Anti-Prohibitionist.

  • Hoover won.

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Agricultural Marketing Act

  • 1929

  • Hoover’s attempt at trying to aid farmers by creating the Federal Farm Board to regulate crop prices, production, and loans.

  • Mostly unsuccessful.

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Hawley-Smoot Tariff

  • 1930

  • Rose the protective to 60%.

  • Hoover intended it to be low to help American businesses, but lobbyists made it inflate.

  • Contributed to worldwide depression.

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Bonus Army March

  • Spring & Summer 1932

  • WWI veterans set-up camps around the capital demanding war reparations.

  • War pensions were due in 1945, but many veterans were unemployed since 1930.