Vocab Flashcards
(22 cards)
Price Supports
The government would buy crops and sell them on the world market
Credit
Buy now/pay later
Dow Jones Industrial Average
A measure based on the stock prices
Speculation
Buying stocks on the chance of a quick profit while ignoring the risks
Buying on margin
Paying a small percentage of a stocks price as a down payment and borrowing the rest
Black Tuesday
The stock market crashed
Great Depression
A period where the economy plummeted and unemployment skyrocketed
Harley Smoot Tariff Act
Established the highest protective tariff in US history- designed to protect American farmers from foreign competition
Shantytowns
Little towns consisting of shacks
Soup Kitchens
Kitchens offering free/low cost food
Bread Lines
Lines of people waiting to receive food by charities
Dust Bowl
Plagued by dust storms, farmer had to decide if they wanted to continue that hard life or abandon their land and move on
Direct Relief
Cash payments or food the government provides to the poor
Hobos
Men who left their family’s and wandered the country
Boulder Dam
AKA Hoover Dam, public works program designed to provide jobs
Federal Home Loan Bank Act
Lowered mortgage rates for homeowners and allowed farmers to refinance their land
Bonus Army
People who demanded immediate bonus payments for being in the war to alleviate the hardships of the great depression
New Deal
Designed to alleviate the problems of the great depression
Brain Trust
Refers to the group of advisors that FDR gathered to assist him during the presidential campaign
Fireside Chats
Broadcasts on the radio by FDR that were addressed directly to the American people
Deficit Spending
The governments policy of spending more money than it receives without putting the government in debt
Court Packing
A legislative proposed by FDR to add more justices to the supreme court
