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Chap. 17-18
Jazz Age & Great Depression
25
History
10th Grade
02/16/2012

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Cards

Term
President Harding - "return to normalcy"
Definition
he had promised return to normalcy by which he meant normal life after the war
Term
Andrew Mellon
Definition
secretary of the treasury.
3 main goals:
reduce debt, cut taxes, balance budget
Term
Ohio Gang
Definition
consisted of hardings old poker-playing friends, they drank and smoked with the president, but they used their positions to sell government jobs, pardons and protection from prosecution
Term
Mellon Tax Policies
Definition
congress abolishes the excise and excess profits tax
congress reduces the income tax by 2/3
Term
Calvin Coolidge
Definition
"cool with coolidge"
Term
Teapot Dome Scandal
Definition
Forbes scandal was only the latest in a series of scandals and accusions that had marked the harding administration, it began when hardings secretary of interior secretly allowed private interests to lease lands containing oil reserves (albert b. fall)
Term
Washington Naval Conference
Definition
the major powers that were involved in a costly postwar naval arms race, to end the weapons race the united states invited 8 major countries to discuss disarment. it proposed 3 major treaties aimed at naval build up competition and trading rights in china
Term
Four Power Treaty
Definition
(US, GB, FR, JP)
agree to respect eachothers pacific lands
no provision to enforce
Term
Nine Power Treaty
Definition
-formally puts open door policy into an official treaty
-no provision to enforce
Term
Five Power Treaty
Definition
(US, GB, FR, JP, IT)
agree to freeze navies at 1921 levels
us/gb agree to not build new bases in w. pacific
japan agrees to keep navy inferior
makes no mention of limiting land forces
could still build unlimited smaller combat ships
Term
Kellogg Briand Pact
Definition
Ratified eventually by 64 nations
nations agreed to abandon war as a tool of national policy
countries would settle disputes peacefully
Term
Decline of Unions
Definition
Companies offer welfare capitalism as an alternative to unions
Term
Accomplishments in Aviation
Definition
Orville and Wilbur Wright
Glenn Curtiss
Charles Lindbergh
Term
Speculation
Definition
larger number of people investing in hopes of getting rich
Term
New York Stock Exchanges Terms
Definition
bull market, margin, margin call, speculation
Term
Black Tuesday
Definition
October 29, 1929
Term
Presidental Election of 1928
Definition
Herbert Hoover & Alfred E. Smith
Term
Causes of Great Depression
Definition
Overproduction and Under consumption
-more goods being produced than consumed
Uneven Distribution of Wealth
-workers and farmers income fails
-1/2 of nation at or below poverty
Loss of Export Sales
- other countries not buying us products
-government policies affecting export
Other Government Policies
-mellon tax policies
- actions of federal reserve board
Term
Mistakes By Federal Reserve
Definition
before:
low interest rates create easy credit, banks lent to freely, business leaders thought the economy was expanding

After: raised interest rates tightened credit, serious reduction of loans, businesses look for other solutions, lay off workers
Term
Dust Bowl
Definition
since homesteading had begun on the great plains farmers plows had uprooted the wild grasses that held the soils moisture then crop prices fell so farmers left their fields uncultivated then a terrible drought struck the great plains then soil turned to dust, this dust buried crops and livestock and many people died from suffocation
Term
Okies
Definition
people from oklahoma that moved to california for a better life
Term
Authors
Definition
John Steinbeck
William Faulkner
Grant wood- american gothic
Term
National Credit Corporation
Definition
the ncc created a pool of money that allowed troubled banks to continue lending money in their communities but failed to meet nations needs
Term
Reconstruction Finance Corporation
Definition
hoover requested congress to setup rfc to make loans to businesses but the rfc was overly cautious and it failed to increase its lending to meet the heed and the economy continued to decline
Term
Bonus Army
Definition
before wwi congress promised a 1000 dollar bonus for each veteran to be distributed in 1945. in may several hundred veterans began marching to washington to lobby for passage of the legislation. many veterans joined and were called the bonus army. when senate voted down the bonus bill, veterans outside capital began to protest. in july hoover ordered the buildings cleared, and sent in the army. the army brought in tanks and teargas and weapons versus the unarmed veterans. hoovers reputation was harmed.
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