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Kala Stevenson

Chapter 14 Vocabulary

price supports When the government would buy surplus crops at guaranteed prices and sell them on the world market. Mostly wheat, corn, cotton, and tobacco.
credit An arrangement in which consumers agreed to buy now and pay later for purchases.
Alfred E. Smith Democrat that ran against Herbert Hoover.
Dow Jones Industrial Average The most widely used barometer of the stock market's health. A measure based on the stock prices of 30 representative large firms trading on the New York Stock Exchange.
speculation To buy stocks and bonds on the chance of a quick profit, while ignoring the risks.
buying on margin Paying a small percentage of a stock's price as a down payment and borrowing the rest.
Black Tuesday October 29, when the bottom fell out of the market and the nation's confidence. When shareholders frantically tried to sell before prices plunged even lower
Great Depression The period from 1929 to 1940 in which the country plummeted and unemployment skyrocketed.
Hawley-Smoot Tariff Act Established the highest protective tariff in United States History. designed to protect American farmers and manufacturers from foreign competition.
shantytowns Little towns consisting of shacks.
soup kitchen Places that offered free or low costed food.
bread line Lines of people waiting to receive food provided by charitable organizations or public agencies, became a common sight.
Dust Bowl When lands created the most dry dirt that was dust,The regions that were the hardest hit were parts of Kansas, Oklahoma, Texas, New mexico, and Colorado, was known as this.
direct relief cash payments or food provided by the government to the poor.
Herbert Hoover Tried to reassure Americans that the nation's economy was on a sound footing. he decided that important thing was for Americans to remain optimistic and to go about their business as usual.
Boulder Dam At 726 ft. high and 1,244 ft. long it would be the world's tallest dam and the second largest. This provided a regular water supply, which enabled the growth of California's passive agricultural economy.
Federal Home Loan Bank Act Lowered mortgage rates for homeowners and allowed farmers to refinance their farm loans and avoid foreclosure
Reconstruction Finance Corporation Approved by Congress in 1932. This authorized up to $2 billion for emergency financing for banks, life insurance companies, railroads, and other large businesses.
Bonus Army The spring of 1932, 10,000 and 20,000 World war I veterans and their families arrived in Washington D.C.. They called themselves this.
Created by: kala.stevenson