14 terms

The Great Depression

The Great Depression was a worldwide business and economic slump that lasted through the 1930s
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Stock Exchange
an organized system for buying and selling shares in corporations
(shares)
blocks of investments
on margin
to pay only a fraction of the stock price and borrow the rest from thir brokers who borrowed their money from banks
"Black Thursday"
October 24, a day that traders sold almost 13 million shares
Great Depression
A severe economic crisis in the US during the 1930s
defaulted
failed to meet loan payments
Hoovervilles
the shanty towns made of boxes belonging to people who had lost their job; named because of Hoover's failure to act
relief
aid for the needy
public works
projects such as highways, parks, and libraries; in this case used to create new jobs
Reconstruction Finance Corporation
(RFC)In 1932 Hoover asked Congress to create this corporation which lent money to businesses
Bonus Army
jobless veterans who wanted bonuses right away
Washington, D.C.
where the Bonus Army marched to demand their money
Douglas MacArthur
the Army chief of staff who led troops into Washington D.C. and burned the protester's camp
Dwight D. Eisenhower
MacArthur's aide who entered the protester's camp with him