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Chapter 12

TermDefinition
speculation practice of making high-risk investments in hopes of obtaining large profits.
Black Tuesday Oct. 29, 1929 when stock prices fell sharply in the Great Crash.
business cycle periodic growth and contraction of the economy.
Great Depression period lasting from 1929 to 1941 in which U.S. economy faltered and unemployment soared.
Hawley-Smoot tariff protective import tax authorized by Congress in 1930.
bread line line of people waiting for food handouts from charities or public agencies.
Hooverville term used to describe makeshift shantytowns set up by homeless people during the Great Depression.
tenant farmer working for bigger landowners then to themselves.
Dust Bowl term used for the central and southern Great Plain during the 1930s when the region suffered from drought and dust storms.
Okies general term used to describe Dust Bowl refugees.
repatriation process by which Mexican Americans were forced to go back to Mexico.
localism policy relied on by President Hoover in the early years of the Depression whereby local and state governments act as primary agents of economic relief.
Reconstruction Finance Corporation federal agency set up by Congress in 1932 to provide emergency government credit to banks, railroads, and other large businesses.
trickle-down economics economic theory that holds that money lent to the banks and businesses will trickle down to consumers.
Hoover Dam dam on the Colorado River that was built during the Great Depression.
Bonus Army group of WW1 veterans who marched on Washington D.C. in 1932 to demand early payment of bonus promised them by Congress.
Created by: tooham10
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