The Great Depression Begins - Chapter 22 Flashcards
To understand the causes and consequences of the Great Depression and the futility of Hoover's actions to limit the damage
Agency established in 1932 to provide emergency relief to large businesses, insurance companies, and banks
Reconstruction Finance Corporation
Index of stock prices of select companies
Dow Jones Industrial Average
October 29, 1929, the day the stock market crashed
Black Tuesday
Investments in high-risk ventures
Speculation
Buying stock by paying only a portion of the full cost up-front with promises to pay the rest later
Buying on margin
Democratic presidential candidate in 1928
Alfred E. Smith
Place where free food is served to the needy
Soup Kitchen
Short-term loans to buy goods with promises to pay later
Credit
Law passed in 1931 to reduce mortgage rates to save farmers from foreclosure
Federal Home Loan Bank Act
Period of bad economic times in the United States that lasted from 1929 to 1941
Great Depression
Law that keeps prices above a set level
Price support
Unemployed World War I veterans who marched to Washington to demand their war bonuses
Bonus Army
Area of the Great Plains made worthless for farming by drought and dust storms in the 1930s
Dust Bowl
A neighborhood where people live in shacks
Shantytown
Law that raised taxes on imports and worsened the Depression
Hawley-Smoot Tariff Act