The Great Depression - FAQ
1. When did The Great Depression happen?
1929 to 1941
2. Why did The Great Depression happen?
There is not one cause of The Great Depression. Many things happened to cause it. The three reasons you need to know about are:
a. people over speculated on stocks, using borrow money that they could not repay when stock prices crashed.
b. The Federal Reserve failed to prevent the collapse of the banking system.
c. High tariffs strangled international trade.
3. What is stock?
A stock is a share in a company. When you buy a stock, you buy a share or a portion
of a company. if the company does well, then your stock is worth more money. If it does not do well, then your stock is not worth as much money.
4. What is the stock market?
The stock market is a place where you can buy stocks in many different
companies. You don't have to go to the stock market, you can call a
person called a stock broker and he/she will buy or sell the stocks for you. Today, many people buy and sell stocks using a computer. Sometimes you hear the stock market called the stock exchange, because you really
5. What is Black Tuesday?
October 29, 1929. The day the stock market crashed.
6. What was the stock market crash?
That means that many stocks that had high prices started selling
for very low prices. People were not willing to buy stocks because they were afraid they would lose their money. Many people lost all their money. Click here to see a chart.
7. What is The Federal Reserve?
The Federal Reserve is sometimes called The Fed. A quick definition
for it is that The Federal Reserve is like the bank for all the other banks. It's not a bank you would go to but a bank BB&T and other banks would go to.
8. What was the dust bowl?
The Dust Bowl was an area of the Great Plains that was hit by huge dust storms during the 1930s. The storms were caused by decades of poor farming techniques as well as a drought.
9. What is a black blizzard?
A huge dust storm. So big that it could darken the sky.
10. What was a Hooverville?
Shanty towns, clusters of shelters made from tin scraps and cardboard. They were usually on the outskirts of towns and were made up of people who were poor and homeless. They were called Hoovervilles after the president, Herbert Hoover, who they blamed for the Depression.
11. What was a Hoover flag?
Empty pockets turned inside out showing you were broke.
12. What was a Hoover blanket?
Newspapers that homeless people used to keep warm when they slept outside.
13. What is a Hobo?
Homeless people, usually men who traveled the country, usually by hopping on trains without paying.
14. What was a breadline?
Breadlines started during the Great Depression, people waited in long lines just to get bread and soup. They couldn't afford to buy food. Without the breadlines, many people would have gone hungry.
15. What was an Okie and Arkie?
An Okie was someone from Oklahoma, an Arkie was from Arkansas. During the Depression, they became insults toward the flood of migrants that came from these states trying to escape the Dust Bowl, most relocated to California and were considered a nuisance.
16. How were the lives of Americans affected by the Great Depression?
- a. A large number of banks and businesses failed.
- b. One-fourth (1/4) of workers were without jobs.
- c. Large numbers of people were hungry and homeless.
- d. Farmer's incomes fell to low prices.