Price support
The maintenance of a price at a certain level through government intervention
Credit
An arrangement in which a buyer pays later for a purchase, often on an installment plan with interest charges
Alfred E. Smith
Democrat and ran against Herbert Hoover
Dow Jones Industrial Average
A measure based on prices of the stocks of 30 large companies, widely used as a barometer of the stock market’s health
Speculation
They bought stocks and bonds on the chance of a quick profit, while ignoring the risks
Buying on margin
Paying asmall percentage of a stock’s price as a down payment and borrowing the rest
Black Tuesday
The bottom fell out of the market and the nation’s confidence
Great Depression
The period from 1929 to 1940 in which the economy plummeted and unemployment skyrocketedStates history
Hawley–Smoot Tariff Act
Established the highest protective tariff in United States history
Shantytown
Little towns consisting of shacks
Soup Kitchen
Offering free or low–cost food
Bread line
Lines of people waiting to receive food provided by charitable organizations or public agencies
Dust Bowl
The region that was the hardest hit, including parts of Kansas, Oklahoma, Texas, New Mexico, and Colorado
Direct Relief
Cash payments or food provided by the government to the poor
Herbert Hoover
President, tried to reassure Americans that the nation’s economy was on a sound footing
Boulder Dam
At 726 ft. highland 1,244 ft. long it would be the world’s tallest dam and the second largest. In addition to providing electricity and flood control, the dam also provided a regular water supply, which enabled the growth ofCalifornia’s massive agricultural economy. Today, the dam also helps to provide water for cities such as LosAngeles and Las Vegas.
Hoover Dam
Another name for boulder dam
Federal Home Loan Bank Act
Lowered mortgage rates for homeowners and allowed farmers to refinance their farm loans and avoid foreclosure
Reconstruction Finance Corporation
Aapproved by Congress in January1932. It authorized up to $2 billion for emergency financing for banks, life insurance companies, railroads, and other large businesses
Bonus Army
Between 10,000 and 20,000 WWI veterans and their families arrived in Washington, D.C from various parts of the country
