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US His Ch.14 vocab
US History Chapter 14 vocabulary
| Term | Definition |
|---|---|
| price support | The maintenance of a price at certain level through government intervention. where the government buys surplus crops at guaranteed prices and sells them on the world market. Such as wheat, corn, cotton, and tobacco |
| credit | agreement where consumers agree to buy now and pay later for purchases. usually in an installment plan with monthly pages and interest charges |
| Alfred E. Smith | Democrat who went up against Hoover in the election of 1928. served 4 years as governor of New York, career politician. Lost to Hoover by a lot. |
| Dow Jones Industrial Average | most widely used barometer of the stock market's health. a measure based on the stock prices of 30 representative large firms trading in the New York Stock Exchange |
| speculation | an involvement in risky business transactions in an effort to make a quick or large profit. buying stocks and bonds on the chance of a quick profit, while ignoring the risks |
| buying on margins | purchase of stocks by paying a small percentage of a stock's price as a down payment and borrowing the rest. with easy money available to investors buying was unrestrained. if value of stocks declined, people had no way of paying off the loans. ): |
| Black Tuesday | name given to October 29th 1929, when stock prices fell sharply. shareholders frantically tried to sell before the prices plunged lower. people who bought stock on credit were stuck with huge debt. some people lost life savings. |
| What signaled the Great Depression | the stock market crash of October 29th 1929 |
| Great Depression | A period lasting from 1929 to 1940, in which the U.S. economy was in serious decline and millions of Americans were unemployed. |
| Hawley-Smoot Tariff Act | a law enacted in 1930, that established the highest protective tariff in U.S. history, worsening the depression in America and abroad. |
| shantytown | a neighborhood in which people live in makeshift shacks. |
| soup kitchen | a place where free or low cost food is served to the needy |
| bread line | a line of people waiting for free food |
| dust bowl | the region, including Texas, Oklahoma, Kansas, Colorado, and New Mexico that was made worthless for farming by drought and dust storms during the 1930's. |
| direct relief | the giving of money or food by the government directly to the needy people. |
| Herbert Hoover | President elected in 1928, an engineer, known for efficiency and being a humanitarian, rags to riches story, coordinated relief efforts after WWI, constructed Hoover Dam |
| Boulder Dam | a dam on the Colorado River now called Hoover Dam that was built during the Great Depression as part of a public-works project intended to stimulate businesses and provide jobs. Dam provided electricity, flood control, and a regular water supply. |
| Federal Home Loan Bank Act | a law enacted in 1931, that lowered home mortgage rates and allowed farmers to refinance their loans and avoid foreclosure. |
| Reconstruction Finance Corporation | an agency established in 1932 to provide emergency finance to bank, life insurance companies, railroads and other large business. |
| Bonus Army | a group of WWI veterans and their families who marched on Washington D.C. in 1932 to demand an immediate payment of a bonus they had been promised for military service. |
Created by:
murphy1717