The Great Depression Pt.1 Flashcards
the goverment began to buy a surplus of crops at guaranteed prices and sell them on the world market to help farmers
price supports
Democratic governor of New York; ran against Herbert Hoover in 1928; first Catholic presidential candidate for a major party
Alfred E. Smith
measurement used by the nation to determine the stock market’s health`
Dow Jones Industrial Average
buying stock and bonds on the chance of a quick profit, ignoring the potential risk.
speculation
paying a small percentage of stock as a down payment and then borrowing the rest.
buying on margin
1929 day when stock holders tried to sell their stocks before the market plunged further
Black Tuesday
Period between 1929 and 1940 in which the economy plummeted and unemployment skyrocketed
Great Depression
highest protective tariff (tax on imported goods) in US history.
Hawley-Smoot Tariff Act
places that provided food for the poor
Soup Kitchens and Bread Lines
communities of homeless people living in shacks made from refuge and junk
shantytowns
environmental catastrophe that hit parts of Kansas, Oklahoma, Texas, New Mexico, and Colorado.
Dust Bowl
Cash payments or food provided by the government to the poor
Direct Relief
the president of the US at the time of the Great Depression; historically has shouldered much of the blame.
Herbert Hoover
Provided electricity and flood control for the area around the Colorado River. Later renamed the Hoover Dam.
Boulder Dam
An act made to lower the mortgage rates for a house and allowed farmers to refinance their farms and avoid forclosure.
Federal Home Loan Bank Act
Authorized $2 billion for emergency financing banks, life insurance, railroads, and other large businesses
Reconstruction Finance Corporation
The Veterans from WW1 seeking their pensions
Bonus Army
an arrangement in which consumers agreed to buy now and pay later for purchases.
credit
Two-term NY governor who became president
Franklin Delano Roosevelt
Program designed to alleviate the problems of the Great Depression
New Deal
Established FDIC, reogranized banking
Glass-Steagall Act
