US History Chapter 14 Section 1

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US History Chapter 14 Section 1

price support

the maintenance of a price at a certain level through government intervention

Alfred E. Smith

Governor of New York who ran as a Democrat for the 1928 elections

Dow Jones Industrial Average

a measure of stock market prices based on thirty leading companies of the new york stock exchange

speculation

risky buying and selling of stocks in the hope of making a quick profit

buying on margin

buying stock by paying only a portion of the full cost up-front with promises to pay the rest later

Black Tuesday

October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929

Great Depression

the economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s

Hawley-Smoot Tariff Act

a law, enacted in 1930, that established the highest protective tariff in U.S. history, worsening the depression in America and abroad.

foreclosed

can't make payments and the banks take your property.

default

fail to pay up

stagnant

not growing or changing

bull market

a steady rise in the stock market over a period of time

Gross National Product

total value of all goods and services produced in a nation

stock

a share or ownership in a company

McNary-Haugen Bill

sought to keep agricultural prices high by authorizing government to buy up surpluses and sell them abroad

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