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Great Depression

Herbert Hoover & the Great Depression

Alfred E SmithDemocratic presidential candidate in 1928
speculationinvestment in high risk ventures
buying on the marginBuying stock by paying only a portion of the full cost up-front with promises to pay the rest later
Black TuesdayOctober 29,1929, the day stock market crashed
Great DepressionPeriod of bad economic times in the US that lasted from 1929 to 1941
Dow Jones Industrial Averageindex of stock prices of select companies
Hawley Smoot Tariff ActLaw that raised taxes on imports and worsened the Depression
Dust BowlArea of the Great Plains made worthless for farming by drought and dust storms in the 1930's
shantytowna neighborhood where people live in shacks
soup kitchenPlace where free food is served to the needy
bread linea line of people waiting for free food
direct reliefmoney or food given directly from the govt to the needy
Herbert Hooverrepublican nominee in 1928, 31st president
Reconstruction Finance CorporationAgency establish in 1932 to provide emergency relief to large businesses , insurance companies and bank
Bonus Armyunemployed WWI veterans who marched to Washington to demand their bonuses
droughta long period of unusually low rainfall
economic cyclesperiods of good times, or prosperity, alternating with periods of economic hard times
foreclosurethe taking of mortgaged property by the lender because the borrower cannot make the payemnts on the loan
Great Plaina large flat area of west-central US originally covered by a type of grass that does not need much rain and that has strong roots which hold the soil in place
mortgagepayments made to pay back the loan used to buy a house or land
bull marketwhen the stock market is increasing
bear marketwhen t the stock market is decreasing
Rugged IndividualismHoover's theory that people should work on their own to overcome hardship
Boulder Damwork project begun under Hoover's Administration
Hoovervillesshantytowns named after president
creditpromise to pay something later

American History
Northshore High
Slidell, LA

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