Great Depression - Sandoval
Reason for banks failure
People's money was put into other peoples loans or invested
Bear Market
price of stocks are steadily falling
Bull Market
price of stocks are steadily rising
Hooverville
shacks the homeless lived in
Direct Relief
the giving of money or food by the government to needy people
Price Support
the maintenance of a price at a certain level through government intervention
buying on margin
the purchasing of stocks by paying only a small percentage of the price and borrowing the rest
President Hoover's feelings towards direct relief
thought it would make people dependent on the government
Bonus Army
a group of WWI veterans who marched on Washington DC to demand the immediate payment of a bonus they had been promised for military service
Hawley Smoot Tariff
a law that established the highest protective tariff in US history, worsening the depression in America and abroad
Federal Home Loan and Banking Act
a law that lowered home mortgage rates and allowed farmers to refinance thier loans and avoiid foreclosure
Dow Jones
a measure based on the prices of the stocks of 30 large companies, used as a barometer of the stock markets health
Great Depression
a period lasting from 1929-1940, in which the US economy was in severe decline and millions of Americans were unemployed
Share
a single unit of stock
Reconstruction Finance Corp
an agency established to provide emergency financing to banks and companies
Speculation
an involvement in risky business transactions in an effort to make a quick or large profit
causes of the dust bowl
drought, overfarming and wind
effect of the Great Depression on the rest of the world
fell into similar economic condition