19 terms

Chapter 14 Great Depression

Terms, people, and ideas associated with the study of the Great Depression in U.S. History
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price support
Price set by government above free-market level and maintained by governmental purchases of excess supply
credit
arrangement for deferred payment for goods and services
Al Smith
Governor of New York four times, and was the Democratic U.S. presidential candidate in 1928. He was the first Roman Catholic and Irish-American to run for President as a major party nominee. He lost the election to Herbert Hoover.
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; date of the worst stock-market crash in American history and beginning of the Great Depression.
Great Depression
the economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s
Dow Jones Industrial Average
a measure of stock market prices based on thirty leading companies of the new york stock exchange and Nasdaq
Hawley-Smoot Tarriff
high tariff tax on imports- tried to protect American business from foreign competition during Great Depression; ultimately it failed.
Dust Bowl
Region of the Great Plains that experienced a drought in 1930 lasting for a decade, leaving many farmers without work or substantial wages.
shantytown
Unplanned slum development on the margins of cities, dominated by crude dwellings and shelters made mostly of scrap wood, iron, and even pieces of cardboard; nick named "Hoovervilles"
soup kitchen
places where the hungry could get a free meal
bread line
line of people waiting for food handouts from charities or public agencies
direct relief
cash payments or food provided by the government to the poor
Herbert Hoover
31st President of the United States (1929-1933), Republican, initially dealt with the Great Depression by trying to restore public faith in local community.
Boulder Dam
Hoover Dam; A dam on the Colorado River built during the Great Depression as part of a public-works program indented to stimulate business and provide jobs
Federal Home Loan Bank Act
law passed in 1931 to reduce mortgage rates to save farmers from foreclosure
Reconstruction Finance Corporation
Created in 1932 by the Hoover administration to make loans to banks, insurance companies, and railroads, it was intended to provide emergency funds to help businesses overcome the effects of the Depression.
Bonus Army
WWI veterans who marched on Washington demanding their $1,000 bonus pay before the 1945 due date. They were eventually removed by force.
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