American History Chapter 8

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Terms in this set (...)

Herbert Hoover
an accomplished public servant
speculation
An involvement in risky business transactions in an effort to make a quick or large profit.
Black Tuesday
October 29, 1929; date of the worst stock-market crash in American history and beginning of the Great Depression.
business cycle
Fluctuations in economic activity, such as employment and production
Great Depression
the economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s
Hawley-Smoot Tariff
raised taxes on imports but worsened the Depression.
bread line
a line of people waiting for free food
Hoovervilles
a shantytown built by unemployed and destitute people during the Depression of the early 1930s.
tenant farmer
Farmer who works land owned by another and pays rent either in cash or crops
Dust Bowl
A drought in the 1930s that turned the Great Planes very dry.
Okies
the farmers, who in the Great Depression, were forced to move, many moved to Oklahoma
Reparations
Payment for war damages
Localism
policy relied on by President Hoover in the early years of the Great Depression whereby local and state governments act as primary agents of economic relief
Reconstruction Finance Corporation
Agency established in 1932 to provide emergency relief to large businesses, insurance companies, and banks.
Trickle Down Economics
economic theory that holds that money lent to banks and businesses will trickle down to consumers
Hoover Dam
Dam on the Colorado River that was built during the Great Depression
Bonus Army
Group of WWI vets. that marched to D.C. in 1932 to demand the immediate payment of their goverment war bonuses in cash
Douglas MacArthur
American general, who commanded allied troops in the Pacific during World War II.
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