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US History 14.1


AB
Price supportThe maintenance of a price at the certain level through government intervention.
CreditAn arrangement which a buyer pays later for a purchase, often on an installment plan with interest charges.
Alfred E. SmithWas a career politician who had served four terms as governor of New York.
SpeculationAn involvement in risky business transactions in an effort to make a quick or large profit.
Buying on MarginThe purchasing of stocks by paying only a small percentage of the price and borrowing the rest.
Black TuesdayA name given to October 29,1929, when stock prices fell sharply.
Great DepressionA period, lasting from 1929 to 1941, in which the U.S economy was in severe decline and millions of Americans were unemployed.
Dow Jones Industrial AverageA measure based on the prices of the stocks of 30 large companies, widely used as a barometer ofthe stock market's health.
Hawley-Smoot Tariff ActA law enacted in 1930 that established the highest protective tariff in U.S. History, worsening the depression in America and abroad.
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