U.S. History Chapter 14 Vocab (The Great Depression Begins)
Terms in this set (20)
The McNary -Haugen bill called for this- they needed wheat, corn, cotton, tobacco. The government would buy surplus crops at guaranteed prices and sell them on the world market.
An arrangement in which consumers agreed to buy now and pay later for purchases.
Alfred E. Smith
The democrat who was against Herbert Hoover in the 1928 presidential election. Was governor of New York.
Dow Jones Industrial Average
Most widely used barometer of the stock market's health. A measure based on the stock prices of 30 representative large forms trading on the New York Stock Exchange.
When people buy stocks and bonds on the chance of a quick profit, while ignoring the risk.
Buying on margin
Paying a small percentage of a stock's price as a down payment and borrowing the rest.
October 29- when the bottom fell out of the market and the nation's confidence. Shareholders frantically tried to sell before prices plunged even lower. People who bought stocks on credit were stuck with huge debts or the lost their savings.
Period from 1929 to 1940 in which the economy plummeted and unemployment skyrocketed.
Hawley-Smoot Tariff Act
Established the highest protective tariff in United States history. It was designed to protect American farmers and manufacturers from foreign competition.
Little towns consisting of shacks.
Places offering free or low-cost food.
Lines of people waiting to receive food provided by charitable organizations or public agencies.
When there was a drought in the Great Plains- little grass and few trees were left to hold soil down. Lots of wind scattered the topsoil making dust travel hundreds of miles.
Cash payments or food provided by the government to the poor.
President who tried to reassure Americans that the nation's economy was okay. He claimed it was important to be optimistic and go about business as usual.
Boulder Dam (Hoover Dam)
The world's tallest dam and second largest. It provided electricity,flood control, and a regular water supply- enabled growth of California's massive agricultural industry.
Federal Home Loan Bank Act
Act that lowered mortgage rates for homeowners and allowed farms to refinance their farm loans and avoid foreclosure.
Reconstruction Finance Corporation
Authorized up to $2 billion for emergency financing for banks, life insurance companies, railroads and other large businesses.
The World War I army veterans and their families in Washington D.C., called themselves this.
Causes of the Great Depression
tariffs and war debt policies that cut down the foreign market for American goods, a crisis in the farm sector, the availability of easy credit, an unequal distribution of income
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