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The Roaring 20's
| Term | Definition |
|---|---|
| Installment Plan | People in the 1920s started paying for things with credit and racked up huge debt. They were mostly paid off in installments with interest charges. As debt grew, spending slowed down |
| Speculation | People began buying stocks to make quick profits, ignoring the risks. |
| Buying on margin | only paying a down payment and borrowing the rest to pay for the stock. |
| Bull Market | A stock market with steadily increasing stock prices |
| Black Tuesday | October 29, 1929 – Day the stock market crashed. In the following weeks investors lost about $30 billion. |
| Smoot-Harley Tariff | Passed by Congress in 1930. Highest protective tariff – designed to protect American farmers and manufacturers from foreign competition, but did the opposite. Cut U.S. trade in half. |
| Dust Bowl | Droughts dried crops and turned the soil into dust – windstorms carried the dust hundreds of miles. Many farmers left their homes and headed west to California to find work |
| Bonus army | WWI veterans and their families who arrived in D.C. to receive their bonus promised by President. Hoover feared they might turn violent and had a force of 1000 soldiers disperse the crowd |
| bank holiday | one of FDR first actions in dealing with the banking crisis. Congress went further by establishing the FDIC – insuring individual bank accounts up to $5000 |
| Flappers | independent young women |
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itsmecurtis
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