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U.S. Ch 11

The Great Depression Begins

TermDefinition
1. Stock Market a system for buying and selling stock in corporations
2. Bull Market a long period of rising stock prices
3. Margin buying a stock by paying only a fraction of the stock price and borrowing the rest
4. Margin Call demand by a broker that investors pay back loans made for stocks purchased on margin
5. Speculation act of buying stock at great risk with the anticipation that the price will rise
6. Bank Run persistent and heavy demands from a banks depositors, creditors, or customers
7. Installment buying an item on credit with a monthly plan to pay off the value of the good
8. Black Friday Oct. 29, 1929, and was marked by a sharp fall in the stock market, with the Dow Jones Industrial Average (DJIA) especially hard hit in high trading volume
9. Hawley-Smoot Tariff an act implementing protectionist trade policies sponsored by Senator Reed Smoot and Representative Willis C. Hawley and signed into law June 1930; intended to protect American Industry! Result: Europeans established high tariffs of their own
10. hobo a homeless and usually penniless wanderer
11. Soap Opera a serial drama on television or radio using melodramatic situations
12. Suspend to temporarily stop an operation
13. Dust Bowl A parched region of the Great Plains, including parts of Oklahoma, Arkansas, and Texas, where a combination of drought and soil erosion created enormous dust storms in the 1930s.
14. Walt Disney released the first animated feature-film Snow White and the Seven Dwarfs; U.S. creator and producer of animated cartoons, motion pictures, etc.
15. John Steinbeck American author; Depression era book, Grapes of Wrath about migrants from the Dust bowl. won the 1962 Nobel Prize in Literature "for his realistic and imaginative writings, combining as they do sympathetic humor and keen social perception"
16. William Faulkner American writer and Nobel Prize laureate from Oxford, Mississippi; primarily known for his novels and short stories set in the fictional County; most famous book, Sound and the Fury
17. Grant Wood an American painter best known for his paintings depicting the rural American Midwest, particularly American Gothic, an iconic painting of the 20th century
18. Public Works projects such as highways parks and libraries built with public funds for public use
19. Relief aid for the needy welfare
20. Foreclose to take possession of a property from a mortgagor because of defaults on payments
21. Reconstruction Finance Corporation government corporation in the United States between 1932 and 1957 that provided financial support to state and local governments and made loans to banks, railroads, mortgage associations, and other businesses
22. Bonus Army 43,000 marchers—17,000 U.S. World War I veterans, their families, and affiliated groups—who gathered in Washington, D.C. in the summer of 1932 to demand cash-payment redemption of their service certificates