17 terms

US History: Chapter 22- The Great Depression Begins

STUDY
PLAY

Terms in this set (...)

price supports
subsidies provided by the federal government, primarily to agriculture, whereby surpluses of products are purchased and kept off the market; this action reduces supply and keeps prices at a level required by the producer
Dow Jones Industrial Average
a measure of stock market prices based on thirty leading companies of the new york stock exchange and nasdaq
credit
An arrangement to receive cash, goods, or services now and pay for them in the future.
speculation
An involvement in risky business transactions in an effort to make a quick or large profit.
buying on margin
Purchasing stock with a little money down with the promise of paying the balance at sometime in the future
Black Tuesday
October 29, 1929; date of the worst stock-market crash in American history and beginning of the Great Depression.
Great Depression
(1929-1939) The dramatic decline in the world's economy due to the United State's stock market crash of 1929, the overproduction of goods from World War I, and decline in the need for raw materials from non industrialized nations.
Hawley-Smoot Tariff Act
A law, enacted in 1930, that established the highest protective tariff in U.S. history, worsening the depression in America and abroad.
shantytowns
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.
soup kitchens
places where the hungry could get a free meal
bread lines
lines of people waiting to receive food provided by charitable organizations or public agencies
Dust bowl
A nickname for the Great Plains regions hit by drought and dust storms in the early 1930s
direct relief
cash payments or food provided by the government to the poor
Boulder Dam
Dam on the Colorado River built during the Depression to create jobs
Federal Home Loan Bank Act
Lowered mortgage rates for homeowners and allowed farmers to refinance their farm loans and avoid foreclosure
Reconstruction Finance Corporation
Agency established in 1932 to provide emergency relief to large businesses, insurance companies, and banks.
Bonus Army
1932 - Facing the financial crisis of the Depression, WW I veterans tried to pressure Congress to pay them their retirement bonuses early. Congress considered a bill authorizing immediate assurance of $2.4 billion, but it was not approved. Angry veterans marched on Washington, D.C., and Hoover called in the army to get the veterans out of there.