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Kala Stevenson
Chapter 14 Vocabulary
Term | Definition |
---|---|
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. |