HUSH Semester 2 T1 - Stock Market Crash of 1929 through WW2

Great Flood of 1927

Extreme weather caused flooding from plains states to Ohio River valley in 1927, displacing 1.5 million people.

Hoover's Response

Hoover coordinated relief efforts, established over 100 tent cities, and raised $17 million for flood victims.

Racial Disparities

After the flood, racial disparities led to poor treatment of African Americans, alienating the South.

Election of 1928

Republican Hoover won against Democrat Smith, continuing the economic boom of the 1920s.

Stock Market Crash

The 1929 crash, fueled by overconfidence, margin buying, and economic decline, marked the start of the Great Depression.

Price-supports

Government-set prices above market equilibrium to benefit producers, keeping goods' prices higher.

Speculation

When stock values exceed actual company worth, leading to buying on credit and market inflation.

Buying on margin

Purchasing stocks with borrowed money, requiring only a fraction of the stock's value as down payment.

Dow Jones Industrial Average

An index tracking 30 large companies' stock performance on NYSE and Nasdaq.

RFC (Reconstruction Finance Corporation)

Provided emergency government credit to banks, railroads, and other large businesses

Hawley-Smoot Tariff

1930 law raising tariffs on imports, damaging global economy and increasing unemployment.

Hoover's Presidency

Hoover's laissez-faire approach and limited intervention led to economic crisis and public discontent.

Franklin D. Roosevelt

32nd US President - He began New Deal programs to help the nation out of the Great Depression, and he was the nation's leader during most of WWII
- Elected 4x
- Died during 4th term

New Deal

FDR's 1930s programs addressing economic and social challenges of the Great Depression.

CCC (Civilian Conservation Corps)

Created by FDR to combat unemployment through public works projects.

CWA (Civil Works Administration)

Created manual labor jobs for millions of unemployed workers, mostly in construction.

FHA (Federal Housing Administration)

Established to regulate mortgages and housing conditions during the Depression.

FSA (Federal Security Agency)

Oversaw social security, federal education funding, and food and drug safety.

HOLC (Home Owners Loan Corporation)

- Helped home-owners and mortgage companies.
- Government payed companies for the home-owners so they could keep their homes and pay off w/ lower interest and longer time.

NIRA (National Industrial Recovery Act)

Aiming to balance worker and business interests, later ruled unconstitutional.

PWA (Public Works Administration)

Put people (unemployed) to work building or improving public buildings like schools, post offices, etc.

SSA (Social Security Act)

Passed in 1935 to combat poverty among senior citizens and aid the disabled.
Provides income to retired wage earners and the disabled.
Funded by current wage earners and employers.

TVA (Tennessee Valley Authority)

Tennessee Valley Authority, developed to boost the economy and provide electricity in the region.

WPA (Works Progress Administration)

New Deal agency that provided work relief through various public-works projects.

American Gothic Style of art peaked during the Great Depression

Depicted rural American life, scenes of the Midwest. Grant Wood's painting captured rural hardships and emotions

The Marx Brothers (Monkey Business, Duck Soup)

- Comedy group on Broadway.
- Starred in 1930s films like "Duck Soup" and "Monkey Business". - Critiqued society through comedy during the Great Depression

Snow White and the Seven Dwarfs

- Released in 1936, the first feature film by Walt Disney.
- Shifted Disney Studios from comedy shorts to full-length animated films

George Burns and Gracie Allen

- Beloved comedic duo in 1930s American entertainment.
- Earned fame through comedy performances in film and television

The Lone Ranger

- Popular fictional character from radio serials.
- Masked cowboy vigilante fighting injustice in the Old American West.
- Gave audiences hope during the Great Depression

The crash of the Hindenburg

- The crash of the Hindenburg May 6, 1937, the German airship caught fire while docking.
- Occurred at Naval Air Station in New Jersey.
- Resulted in 36 civilian deaths, an iconic airship accident

"The War of the Worlds"

- Aired on October 30, 1938, radio broadcast of H.G. Wells' novel adaptation.
- Depicted a Martian invasion of Earth, causing panic among listeners. Falsely perceived as real news

FDR Fireside Chats

- "The Happy Warrior" speech by FDR.
- Depicted facing adversity with optimism and courage.
- Introduced the New Deal and emphasized an active federal government during the Depression

Hollywood Golden Age

- Films like "Gone with the Wind" and "The Wizard of Oz".
- Marked rise of film culture and Hollywood's Golden Age.
- Inspired exploration of various themes in arts and writing

Swing Music

- Developed in the 1930s, revolutionized music.
- Influenced dance styles like Jitterbug and Lindy Hop.
- Important contributors: Benny Goodman, Count Basie, Duke Ellington, Glenn Miller

Dust Bowl

Catastrophic environmental event in the Great Plains during the 1930s, causing extreme drought and dust storms.

WW2 Women formed groups

Jane Addams and Women's International League for Peace and Freedom = WILPF

Washington Naval Conference

1921-22 US attempt to slow arms race and stabilize Asia, resulting in treaties to prevent future wars.

Five-Power Treaty

- 1922
- Committed the US, Britain, Japan, France, and Italy to restricting construction of new battleship class ships
- Pact gave Japan naval supremacy in the Pacific

Nine-Power Treaty

- 1922
- Treaty that reopened the Open Door Policy on China.
- All members to allow equal and fair trading rights with China. - Signed by 9 countries

Kellogg-Briand Pact

1928 agreement among 62 nations to outlaw war, lacking enforcement power.

US Economic Expansion

By the 1920s, the US became a prominent world creditor, manufacturer, exporter, and investor.

War Debts

Allies owed $9.6 billion to the US from WW1, leading to a complex system of loans and debts.

Recognition of the Soviet Union

In the late 1920s, US businesses started trading with the USSR, with FDR hoping for increased trade.

Cordell Hull

- (FDR's Secretary of State) insisted that lower tariffs would help U.S. economy
- Preventing wars caused by economic competition
- Promoted reciprocal trade agreements, especially with Latin America

Reciprocal Trade Agreements Act

1934 act allowing the President to lower tariffs for favored nations, promoting global trade.

U.S. Export-Import Bank

Helped trade by providing loans to foreigners to buy American goods

Major Leaders of WW2

Adolf Hitler = Nazi Germany
Benito Mussolini = Fascist Italy
Hideki Tojo = Japanese Prime Minister
Winston Churchill = British Prime Minister

Pearl Harbor

Date: December 7, 1941
Location: Oahu, Hawaii, United States.
Reasons: Japan sought to cripple the United States' Pacific Fleet to prevent interference with its military actions in Southeast Asia.
Damage: Japanese forces attacked the American naval base at Pearl Harbor, damaging or sinking numerous ships, including battleships like the USS Arizona. More than 2,400 Americans were killed and over 1,100 were wounded.
Consequences: The attack on Pearl Harbor prompted the United States to enter World War II, declaring war on Japan the following day.

Executive Order 9066

Issued by President Franklin D. Roosevelt on February 19, 1942
- Signing many Japanese-Americans to be placed in internment camps
- 112,000 Japanese-Americans forced into camps causing loss of homes and businesses

Who were forcibly relocated to internment camps?

Over 120,000 Japanese Americans, two-thirds of whom were American citizens

Why were Japanese Americans relocated to internment camps?

The fear of espionage and sabotage in the aftermath of Pearl Harbor led to widespread anti-Japanese sentiment and the belief that Japanese Americans could pose a threat to national security

Double V Victory

Campaign popularized by American Black Leaders during WW2 emphasizing the need for double victory: over Germany and Japan and also over racial prejudice in the US. Many blacks were fought in WW2 were disappointed that the America they returned to still hate racial tension.

Tuskegee Airmen

332 Fighter Group famous for shooting down over 200 enemy planes. African American pilots who trained at the Tuskegee flying school. One of the most highly respected combat units of WWII.

Navajo Code Talkers

Native Americans from the Navajo tribe used their own language to make a code for the U.S. military that the Japanese & Germans could not decipher

Women in Nurse Corps and WASPs

Nurses cared for wounded soldiers on the frontlines and transportation vehicles, while WASPs delivered planes to military bases, freeing up male pilots for combat duties. Both groups contributed immensely to the war effort, despite diverse backgrounds.

442nd Infantry Regiment

All Nisei volunteers (Second-gen Japanese American); fought in Europe and liberated many French towns; also fought in Italy, Germany, etc.; they were not allowed to fight in the Pacific; the most highly decorated unit in US military history.

Ritchie Boys

The Ritchie Boys were Jewish refugees who fled Nazi Germany, later becoming intelligence officers for the US in WWII.
Trained at Camp Ritchie, they used their language skills to gather intel, interrogate German prisoners, and aid the Allied cause.
Their contributions were pivotal in hastening the end of the war and dismantling the Nazi regime, showcasing the vital role of immigrants in defending democracy.