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Ch.7 Great Dep

TermDefinition
Interest charge or fee for borrowed money, usually a percentage of the amount borrowed
Recession slowdown or period in decline of economic activity SC never really experienced a boom or prosperity
Boll weevil bug that infested cotton fields and destroyed ½ the crops in a year
Textile Workers had lowest wages in the country by the end of the 1920s
KKK Support grew back in the 1920s due to changing culture
Harlem Renaissance Celebration of black literature, music, theater, and visual arts
Charleston Renaissance Included artists, writers, musicians, historians, and preservationists who worked to preserve the cities history
“Black Tuesday” day the stock market crashed; Oct. 29, 1929
Depression period of time when the economy suffers from massive job losses, low business activity, and a weak stock market
Eleanor Roosevelt advocated for helping Black men and women during the depression
Mary McLeod Bethune Served on President Hoover and FDRs boards and served as an advisor for the women’s Army Corps. Was the only woman of color to attend the first UN conference
Langston Hughes Well-known poet from the Harlem Renaissance
Bartering using items for payment instead of money
Collateral something pledged to ensure repayment
Economic problems after WWI Mass consumption w/no income. Bought on credit
FDIC Insured banks to keep money safe
SSA: Social Security Act System of benefits for older workers, victims of accidents, unemployment insurance, those with disabilities
CCC: Civilian Conservation Corps improved public land, forests, and parks
Cotton and tobacco too much supply, little demand= decline in price
Causes of Great Depression overproduction, lack of demand, buying on credit
Created by: ksharris83
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