Sec 1
paying only small percentage of a price and borrowing the rest from a dealer
buying on margin
won election of 1928: pro-business policies, high tariffs, global depression, loss of exports sales
Herbert Hoover
lines of people waiting to receive food distributed by charitable organizations or agencies.
breadlines
men who would wander the country to look for jobs by riding on railroad boxcars and sleeping under the bridges.
hoboes
he wanted Americans to have a positive view and was dedicated to improving human welfare
Herbert Hoover
arrangement where customers buys and pays later
credit
government would buy most needed crops and sell them on the world market
price-supports
little towns that included shacks or tiny huts
shantytowns
cash payments or food distributed by the government to the poor
direct relief
world's largest dam constructed and authorized by Hoover. It provided a regular water supply, electricity, and flood control. It also helps provide water to cities today.
Boulder Dam
Began Great Depression when stock prices peaked and suddenly fell. Investors and Shareholders sold their stocks in panic. Number of shares dumped was a record of 16.4 million. Many bought stocks on credit and were stuck with big debts as prices rose.
Stock Market Crash 1929 or Black Tuesday
sons of poor farmers and unemployed miners whose family lost everything were eager to tour America for free. (SECTION 2)
Hoover tourists
The region where Kansas, Oklahoma, Texas, New Mexico, and Colorado were hit the most hardest by a windstorm in 1934.
Dust Bowl
authorized the government to pay a bonus to World War I veterans who weren't honored well for their service (SECTION 3)
Patman Bill
When 10k-20k World War I veterans and their families came to Washington D.C demanding for payment that wasn't due til 1945
Bonus Army
people bought stocks and bonds to make easy money
speculation
established highest protective tariff in U.S history and protected American farmers and manufacturers from foreign competition. However it made world trade fall more than 40%.
Hawley-Smoot Tariff
offered free or low-costing food for the poor or unemployed due to the Great Depression
soup kitchens
name that was used for Oklahomans but later were negatively used for all migrants. They found work as farmhands.
Okies
lowered mortgage rates for homeowners and allowed farmers to refinance their farm loans and avoid foreclosure
Federal Home Loam Bank Act
most widely used barometer of stock market’s health. It tracks performance of 30 large companies in the U.S
Dow Jones Industrial Average
a period of rising stock prices
Bull Market
process by which a mortgage holder gets back property if the owner has not payed yet
forclosure
Americans made fun of Hoover while calling newspapers "Hoover blankets and empty pockets as "Hoover flags". Many viewed him as a cold and heartless leader. (SECTION 3)
Hoovervilles
Authorized up to 2 billion dollars for emergency financing for banks, life insurance companies, railroads, and other big businesses
Reconstruction Finance Corporation