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US History II
Chapter 22 Outline
Section 1
P 670-677
I. Economic Troubles on the Horizon
A. Industry:
B. Farming:
1. Price Supports:
C. Consumers:
1. Rising prices
2. Unbalanced distribution of income:
3. Credit:
II. Hoover Takes the Nation
A. Election of1928:
B. Stock Market:
1. 1920s: Market Rises
2. Speculation:
3. Buying on Margin:
III. Stock Market Crash
A. Black Tuesday: October 29, 1929 – stocks fell and people sold whatever stocks as
quickly as possible.
1. Loss of faith :
2. Quick liquidation:
3. Massive Debt:
IV. Financial Collapse
A. Great Depression: 1929-1940 economy is weak and unemployment rises.
B. Banks and Businesses: closed!
1. Banks:
a.
b.
c.
2. Business
a. Bankruptcy
b. Layoffs
D. Abroad
1. Europe suffered because of WWI and lack of American imports
2. Hawley Smoot Tariff Act: highest protective tariff.
a. Result.
b.
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