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Chapter 14 Vocab: Great Depression and New Deal

Terms in this set (19)

Price Support
the maintenance of a price at a certain level through government intervention
Credit
an arrangement in which a buyer pays later for a purchase, often on an installment plan with interest charges
Alfred E. Smith
democrat who ran against Republican Herbert Hoover in the election of 1928. Had served four terms as governor of New York. Personal and enjoyed being in the limelight, unlike Hoover. Against Prohibition and the first Catholic to be elected as a presidential candidate.
Dow Jones Industrial Average
a measure based on the prices of the stocks of 30 large companies, widely used as a barometer of the stock market's health
Speculation
an involvement in risk business transactions in an effort to make a quick or large profit
Buying on margin
the purchasing of stocks by paying only a small percentage of the price and borrowing the rest
Black Tuesday
a name given to October 29, 1929, when stock prices fell sharply
Great Depression
a period, lasting from 1929 to 1940, in which the U.S. economy was in severe decline and millions of Americans were unemployed
Hawley Smoot Tariff Act
a law, enacted in 1930, that established the highest protective tariffs in U.S. history, worsening the depression in America and abroad
Shantytown
a neighborhood in which people live in makeshift shacks
Soup Kitchen
a place where free or low cost food is served to the needy
Bread Line
a line of people waiting for free food
Dust Bowl
the region, including Texas, Oklahoma, Kansas, Colorado, and New Mexico, that was made worthless for farming by drought and dust storms during the 1930s
Direct Relief
the giving of money or food by the government directly to needy people
Herbert Hoover
Republican candidate who won the election of 1928 against Alfred E. Smith; secretary of commerce under Harding and Coolidge; president of the U.S from 1923-1933 leader of the US in the beginning of the great depression. He didn't want the gov involved in the peoples lives and thought that the people should express their individual rights., Republican candidate who assumed the presidency in March 1929 promising the American people prosperity and attempted to first deal with the Depression by trying to restore public faith in the community.
Boulder Dam
a dam on the Colorado River- now called Hoover Dam- that was built during the Great Depression as part of a public-works program intended to stimulate business and provide jobs
Federal Home Loan Bank Act
a law, enacted in 1931, that lowered home mortgage rates and allowed farmers to refinance their loans and avoid foreclosure
Reconstruction Finance Corporation
an agency established in 1932 to provide emergency financing to banks, life-insurance companies, railroads, and other large businesses
Bonus Army
a group of WWI veterans and their families who marched on Washington, D.C., in 1932 to demand the immediate payment of a bonus they had been promised for military service
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