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Clendenny 8 Soc Stud

Great Depression

Black Tuesday October 29, 1929 and the beginning of the Great Depression when panicked stockholders sold off millions of shares.
Dust Bowl The region of the Midwest that experienced long, arid dust storms that devastated crops and forced millions to move.
Hawley-Smoot Tariff The Tariff Act of 1930 that raised tariffs on imported goods to record levels in an attempt to save US businesses, but backfired andmade the Depression worse.
Hoovervilles Nickname for tent villages filled with people who lost their homes or jobs. Named after President Hoover.
New Deal Nickname for President Roosevelt’s ambitious program to end the Depression.
Bank Holiday One of FDR’s 1st acts as president to close all banks for 4 days while the government investigated whether they were healthy.
Social Security Program started by FDR in 1935 which provided benefits for retirees and the unemployed through a payroll tax.
Dow Jones Industrial Average A widely used measure of the stock market's health based on 30 representative large firms trading on the New York Stock Exchange.
Speculation Buying stocks and bonds on the hope of a quick profit while ignoring the risks.
Buying on Margin Paying a small percent of the stock's price and borrowing the rest.
Great Depression Period of economic disaster during the 1930s with the stock market crash, banks closing and high unemployment.
Franklin D. Roosevelt Elected President during the Depression and inspired optimism.
Herbert Hoover President when the Depression started and who many Americans blamed for it.
Recovery After immediate relief, these were temporary programs and jobs during the New Deal such as WPA, AAA, TVA
Reform These permanent programs were designed to change laws and avoid another Depression. Examples include Social Security.
Created by: cjpressly


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