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20 terms

The Presidency of Herbert Hoover

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Rugged Individualism
The belief that all individuals, or nearly all individuals, can succeed on their own and that government help for people should be minimal. Popularly said by Hertbert Hoover.
Great Depression
the economic crisis and period of low business activity in the U.S. and other countries, roughly beginning with the stock-market crash in October, 1929, and continuing through most of the 1930s.
The Dust Bowl
Years of unsound agriculture practices combined with,Drought during 1930s,Millions of pounds of,topsoil blown away from Texas to Dakotas,Farming nearly impossible ,Hundreds of thousands of farmers migration from Great Plains to West Coast
Hoover Dam
large dam built to be used as an energy source and to create jobs during the Great Depression
shantytowns
little towns consisting mostly of shacks, also called Hoovervilles;Homes for the homeless.
Bonus Army
WWI veterans who marched on Washington demanding their $1,000 bonus pay before the 1945 due date.
Lassiez-Faire
policy that government should interfere as little as possible in the nations economy
Bread Lines
lines of people waiting to receive food provided by charitable organizations or public agencies
Hawley-Smoot Tariff
charged a high tax for imports thereby leading to less trade between America and foreign countries along with some economic retaliation
Black Tuesday
October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929.
Price Support
a government subsidy used to maintain prices at a certain level
Buying on Margin
An option that allowed investors to purchase a stock for only a fraction of its price and borrow the rest
Trickle-Down Economics
Economic theory that holds that money lent to banks and businesses will extend down to consumers.
Speculation
risky buying and selling of stocks in the hope of making a quick profit
Federal Loan Home Bank Act
law passed in 1931 to reduce mortgage rates to save farmers from foreclosure
Reconstruction Finance Corporation
an independant agency of the United States government. It granted over 2 billion dollars to the local and state governments. It was charted under the Herbert Hoover administration.
Superficial Prosperity
false wealth; a rise in business that widens the gap between the rich and poor. Everything looks fine, but it is really not.
Herbert Hoover
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.
John Steinbeck- The Grapes of Wrath
1939 - Steinbeck's The Grapes of Wrath was about "Okies" from Oklahoma migrating from the Dust Bowl to California in the midst of the Depression.
Installment Plan
A payment plan that allows customers to make payments at set intervals over a period of time until the total debt is paid

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