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Spence Vocab 18
| Term | Definition |
|---|---|
| Bonus Army | Group of World War I Veterans who marched to Washington D.C. to support legislation that would pay them bonuses for service during World War I. |
| Buying on margin | Buying a stock by paying for only a fraction of the stock price and borrowing the rest. |
| Dust Bowl | Term referring to the Great Plains starting in the early 1930s as severe droughts and heavy winds destroyed the soil and forces thousands of farmers to relocate to the west coast. |
| Great Depression | Decade long period that saw the worst economic downturn and highest unemployment in our nation's history |
| Hoovervilles | One in a series of slang terms used to mock and criticize President Herbert Hoover that described homeless encampments and shantytowns during the early years of the Great Depression |
| National Credit Corporation | 1931 program started under President Hoover that gave money to troubled banks to allow them to continue to lend in their local communitie |
| RECONSTRUCTION FINANCE CORPORATION | 1932 program started under President Hoover that loaned over $238 million to businesses |
| relief | A term that refers to government aid to the needy or welfare |
| speculation | The act of buying a stock at great risk with the anticipation that the prices will rise. |
| stock market | A system for buying and selling stocks in corporations. |