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Great Depression
Term | Definition |
---|---|
speculation | the forming of a theory without firm evidence |
bank run | widespread panic in which great numbers of people try to redeem their paper money |
Dust Bowl | Region of the Great Plains that experienced a drought in 1930 lasting for a decade, leaving many farmers without work or substantial wages. |
Bonus Army | WWI veterans who marched on Washington demanding their $1,000 bonus pay before the 1945 due date. |
Hoovervilles | Depression shantytowns, named after the president whom many blamed for their financial distress |
stock | A share of ownership in a corporation. |
margin call | demand by a broker that investors pay back loans made for stocks purchased on margin |
Hoboes | Men and boys who rode the rails looking for work |
CCC | Civilian Conservation Corps. It was Relief that provided work for young men 18-25 years old in food control, planting, flood work, etc. |
public works | projects built by the government for public use |
Minimum Payment | The smallest required payment that a credit card holder can pay on a monthly bill and still remain in good standing with the lender. |
Intrest | the price paid for the use of borrowed money |