| A | B |
|---|
| Alfred E. Smith | Catholic Democrat ran against Hoover in 1928 |
| buying on margin | paying a small percentage of a stock’s price as a down payment & borrowing the rest |
| Black Tuesday | 29 October 1929, the day the bottom fell out of the stock market |
| Calvin Coolidge | Republican, 30th President of the US, chose not to run in 1928 |
| Harlem Renaissance | a literary and artistic movement, born in the 1920s, celebrating Africa-American culture |
| Hawley-Smoot Tariff Act | 1930 tariff, highest in US history, lowered trade by 40% worsening economy |
| speculation | buying stocks on the chance of a large or quick profit, ignoring the risks of loss |
| Dust Bowl | drought-stricken area of the Great Plains from Texas to N. Dakota plagued in the 30’s by infertile soil and high winds |
| bread line | long lines of people waiting for free food provided by charitable organizations or public agencies |
| direct relief | cash payments or food provided by the gov’t to the poor |
| Boulder Dam | federal construction project designed to add jobs to the economy |
| Federal Home Loan Bank Act | Law that lowered mortgage rates on homes & allowed farmers to refinance their existing loans to avoid foreclosure |
| Reconstruction Finance Corporation | 1932 law that authorized emergency gov’t financing for banks, RR, insurance companies & other large businesses |
| Bonus Army | WWI veterans and their families who arrived in Washington DC in 1932 to support a bill granting them early payment of a bonus for their service in the war |
| Gen. Douglas McArthur | Chief of Staff of the US Army, led tanks, four troops of mounted cavalry with drawn sabers and a unit of infantry with fixed bayonets against the unarmed Bonus Army in the summer of ‘32 |
| Herbert Hoover | 31st President of the US, often blamed for the Depression |
| soup kitchens | places where food was offered free to the needy |
| Dow Jones Industrial Average | tool used to mark the strength of the stock market / economy |
| price supports | gov’t support of agricultural prices at a certain level to aid farmers |
| Dwight David Eisenhower | US Army major. Assistant to General McArthur |
| Gordon Parks | photographer, author, film maker; recorded Depression life from an African-American point of view. |
| supply and demand | describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand). |
| Great Depression | World-wide economic crisis that swept industrialized nations in the 1920s and 1930s |
| Bear Market | A prolonged period in which stock prices fall, accompanied by widespread pessimism. The most famous bear market in U.S. history was the Great Depression of the 1930s |
| Bull Market | A prolonged period in which stock prices rise faster than their historical average |
| hoovervilles | shantytowns; shack communities that sprang up on the outskirts of cities. |
| hoboes | men who wandered the country, hitching rides in railroad boxcars ans sleeping under bridges. |
