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The Great Depression
Review for the Great Depression
| Term | Definition |
|---|---|
| Buying on margin | When someone pays for 10% of a stock and borrows the remaining amount |
| Speculation | People purchase stocks in anticipation of them being worth more, hoping to make money in a risky way |
| Regulation | When the government has certain rules for how the stock market can operate, making sure it's fair for all investors |
| Black Tuesday | The name of the day when the stock market crashed |
| October, 1929 | The month and year of the Stock Market Crash |
| Runs on the bank | When people rushed to the banks after the Stock Market Crash and withdrew all their month, causing banks to crash |
| Herbert Hoover | 31st President of the USA, president during the Stock Market Crash |
| Laissez-faire | A hands-off government approach to the economy |
| Hoovervilles | Shantytowns and shacks that homeless people lived in after the Stock Market Crash |
| Bonus Army | A group of WWI veterans who wanted their bonus early |
| Franklin Delano Roosevelt | Governor of New York State until 1931, 32nd President of the USA through the Great Depression & World War II |
| The New Deal | FDR's plan to get the United States back on its feet |
| Public Works Projects | Government-run projects intended to give jobs to American workers |
| Reconstruction Finance Corporation | Organization created during President Hoover's presidency that loaned money to businesses to prevent them from failing |
| Dust Bowl | Prolonged period of drought and severe dust storms in the United States from 1931-1940 in the Plains |
| The Grapes of Wrath | Famous book by John Steinbeck about the Dust Bowl and migrant farmers in California |
| Tex Thornton | Explosives expert who claimed he could "blast rain out of the sky" using dynamite |
| California | State where many Dust Bowl folks migrated to for work |
| Migrant Mother | Famous photograph by Dorothea Lange that showed a migrant woman with her three children, captured the emotion of the Dust Bowl and Great Depression |
| Jimmy Walker | Mayor of New York City during the Great Depression |
| Calvin Coolidge | 30th President of the USA, saw no hope for the future of the country |
| "The only thing we have to fear is fear itself." | Famous quote from FDR from his first inauguration speech in 1933 |
| Fireside Chats | FDR's famous radio broadcasts issued throughout his presidency |
| Relief, Recovery, Reform | The three R's of FDR's New Deal aimed at fixing the problems in the country |
| Relief Programs | Immediate action aimed to provide direct support for the unemployed and poor |
| Recovery Programs | Temporary programs designed to fix the problem and end the Great Depression |
| Reform Programs | Permanent change targeted at preventing future depressions through financial regulation |
| Supreme Court | Ruled that some of FDR's New Deal programs were unconstitutional |
| Court-Packing | FDR's plan to appoint new Supreme Court justices and force older justices out |
| Federal Deposit Insurance Corporation (FDIC) | Monitored banks to make sure they were profitable and fair; guaranteed deposits for people |
| Social Security Act (SSA) | Provided financial support for the elderly and money for the disabled and unemployed |
| Security and Exchange Commission (SEC) | Policed the stock market and required investors to register and disclose assets; protected investors and regulated the stock market |
Created by:
andy.vlad
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