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Great Depression

Vocabulary

QuestionAnswer
price support support of certain price levels at or above market values by the government
credit an arrangement in which a buyer pays later for a purchase, often on an installment plan with interest charges
speculation an involvement in risky business transactions in an effort to make a quick or large profit
buying on margin the purchasing of stocks by paying only a small percentage of the price and borrowing the rest
Black Tuesday a name given to October 29,1929 when stock prices fell sharply
Great Depression a period, lasting from 1929 to 1941, in which the US economy was in severe decline and millions of Americans were unemployed
Dow Jones Industrial Average a measure based on the prices of the stocks of 30 large companies, widely used as a barometer of the stock market's health
Dust Bowl the region, extending from Texas to North Dakota, that was made worthless for farming by drought & dust storms during the 1930's
shantytown a neighborhood in which people live in shacks
soup kitchens a place where free food is served to the needy
bread line a line of people waiting for free food
direct relief the giving of money or food by the government directly to needy people
Herbert Hoover 31st US President, Republican, in office during the start of the Great Depression
Boulder Dam a project designed to jump-start the economy & add jobs, located on the Colorado River & initiated by Herbert Hoover
Reconstruction Finance Corporation an agency established in 1932 to provide emergency financing to banks, oife insurance companies, railroads, and other large businesses
Bonus Army a group of unemployed WWI vets & their families who marched on Washington DC in 1932 to demand the immediate payment of a bonus they had been promised for military service
Franklin Delano Roosevelt 32nd US President,Democrat, supported direct relief, "New Deal"
New Deal FDR's program to alleviate the problems of the Great Depression, focusing on relief for the needy, economic recovery, & financial reform
Civilian Conservation Corps an agency, established as part of the New Deal, that put young unemployed men to work building roads, developing parks, planting trees, & helping in erosion control and flood control projects
Huey Long Originally supported New Deal, but later opposed Roosevelt. Formed Share Our Wealth program. Was assassinated.
Eleanor Roosevelt First Lady. Social reformer, advocate for rights of the poor, women, & minorities
Works Progress Administration an agency established as part of the New Deal that provided the unemployed with jobs in construction, garment making, teaching, the arts, & other fields
National Youth Administration an agency that provided young Americans with aid & employment during the Great Depression
deficit spending a government's spending of more money than it receives in revenue
National Labor Relations Board an agency created in 1935 to prevent unfair labor practices and to mediate disputes between workers and management
parity a government supported level for the prices of agricultural products, intended to keep farmers' income steady
Securities and Exchange Commission (1934)an agency that monitors the stock market and enforces laws regulating the sale of stocks and bonds
Federal Deposit Insurance Corporation(FDIC) (1933) agency created to insure individuals' bank accounts, protecting people against losses due to bank failures
Tennessee Valley Authority(TVA) (1933) a federal corporation established to construct dams and power plants in the Tennessee Valley region
Federal Home Loan Act law that lowered home mortgage rates and allowed farmers to refinance their loans and avoid foreclosure
Glass-Steagall Banking Act law that established the Federal Deposit Insurance Corp(FDIC) to protect individuals' bank accounts
Federal Securities Act a law that required corporations to provide complete accurate information on all stock offerings
Agriculture Adjustment Act law enacted to raise crop prices by paying farmers to leave a certain amout of their land unplanted, thus lowering production
National Industrial Recovery Act law enacted to establish codes of fair practice for industries and to promote industrial growth
Wagner Act (aka National Labor Relations Act)-enacted to protect workers' rights after the Supreme Court declared the National Industrial Recovery Act unconstitutional
Social Security Act enacted to provide aid to retirees, the unemployed, people with disabilities, and dependent mothers and children
Created by: mrduff