vocab Flashcards
stock
an investment in a business’s goods for production
speculation
making high risk investments in hope of obtaining large profits
margin
paid only a small percentage of the value and borrowed the rest from a bank or broker
depression
the economic downturn
forecloser
the legal process that banks use to get back some of the money they loaned when a borrower can’t repay the loan
okies
name for dust bowl refugees
penny auctions
when farmers would auction off things for a penny to keep farm land
repatriation
when non american immigrants were deported back to home country
moratorium
a legal authorization to debtors to postpone payment
dole
government relief for help during the Great Depression.
subsidey
what the government paid farmers to not farm or work because of overproduction
unionization
to organize into a labor union, unions formed and grew during the great depression
demagogue
a political leader who seeks support by appealing to the desires and prejudices of ordinary people rather than by using rational argument.
stock market crash
business’ were lying about profit, people were investing in stocks, everyone lost money and the market essentially ended
dust bowl
storms, clouds and droughts with dust and dirt in the south and midwest
federal reserve
the central banking system of the us
unemployment
when people lose their jobs and are not working, usually looking for jobs
truth in securities act
requires that investors receive financial information from securities being offered for public sale
fireside chats
informal radio speech given by fdr weekly to update citizens
social security
pension system for retirees and provided unemployment insurance
court packing
describe- fdr wanted to personally select 6 new justices to add to the supreme court
purpose- to prevent his new deal legislation from being overturned for being unconstitutional
detail- made him look selfish and bias, people didn’t think it was fair
results- it didn’t pass in the end and made fdr look bad
depression causes
banks failing
stock market crash
dust bowl
loans/credit
lack of government interference
new deal impact(on life today)
social security
subsides
fdic
rea
unemployment pay
reform to prevent from happening again
fdr background, order of events
1910- ny state legislature
1913- assistant secretary of navy
1920- democratic nominee for vice president
1921- attack of polio
1928/1930- governor of ny
1932- elected president
