History Chapter 25 Vocab

23 terms by kgraffy

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Black Thursday

October 24, 1929; almost 13 million shares sold that day alone

Bonus Army

WWI veterans who marched on Washington demanding their $1,000 bonus pay before the 1945 due date.

Default

failure to meet loan payments

Dust Bowl

western Kansas and Oklahoma, northern Texas, and eastern Colorado and New Mexico; long periods of drought and destructive farming methods ruined farming in the region

Emergency Banking Relief Act

gave the President power over the banking system and set up a system by which banks would be reorganized or reopened

Fireside Chats

informal talks given by FDR over the radio; sat by White House fireplace; gained the confidence of the people

Hoovervilles

shanty-towns that housed many who had lost everything. Shelters were built of old boxes and other discards.

Hundred Days

The special session of Congress that Roosevelt called to launch his New Deal programs. The special session lasted about three months: 100 days.

Migrant Workers

people, typically farmers, who move from place to place to harvest fruits and vegetables

New Deal

the legislative and administrative program of President F. D. Roosevelt designed to promote economic recovery and social reform during the 1930s. also: the period of this program

On Margin

paying only a fraction of the stock price and borrowing the rest from a brokers. Brokers, in turn, borrowed their money from banks. As long as the value of stocks continued to rise, the buyer could sell later, pay back what had been borrowed, and make a profit. If that value fell, though, investors and brokers would not have enough cash to pay off the loans.

Pension

a payment, usually for older people once they retire

Public Works

projects such as highways, parks, and libraries sponsored by the government

Relief

aid for the needy

Revenue Act

1935; raised taxes on the wealthy and corporations

Second New Deal

a new set of programs and reforms launched by FDR in 1935.

Social Security Act

created a tax on workers and employers. That money provided monthly pensions for the retired.

Stock Exchange

an organized system for buying and selling shares, or blocks of investments, in corporations

Subsidies

grants of money

The Black Cabinet

a group of African American advisors to FDR.

The Brain Trust

a group of progressive lawyers, economists and social workers who advised President Roosevelt

Unemployment Insurance

payments to people who lost their jobs; previous employers make the payments

Work Relief Programs

established to give needy people government jobs

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