Playing the market
Speculating on stock prices for buying and selling.
Buying on Margin
Buyers made down payments while borrowing most of the money to buy stocks.
Black Tuesday
Stocks fail, October 29
Gross National Product
The total value of goods produced and services provided by a country during one year, equal to the gross domestic product plus the net income for foreign investments.
Hoovervilles
Shantytown built by unemployed and destitute people during the Great Depression.
Dust Bowl
Drought and dust storms throughout the 1930’s
Trickle-Down Economy
Continued support of business. Believed short term problems would end. Called for businesses to maintain wages.
Bonus Army
Summer 1932, unemployed WWI vets march on Washington to demand war bonuses.
Franklin. D. Roosevelt
President during the Great Depression and WWII
Shanties
Crudely built hut, cabin, or house
Brain Trust
Group of expert policy advisers who worked with FDR to end the Great Depression
Indian New Deal
1930s Legislation that gave Indians greater control of their own affairs and provided further funding for schools and hospitals
Black Sunday
A day in April 1935 in which massive storms of heavy black dirt swept through downs choking people.
Isolationism
A policy of nonparticipation in international economic and political relations
Herbert Hoover
Republican nominee election of 1932.
Bottum-up Economy
Three R’s, relief, recovery, and reform.
First Hundred Day
Calls congress into hundred day long special session
Emergency Banking Relief Act
FDR calls for Bank Holiday, orders for all banks closed.
Federal Deposit Insurance Corp
Government ensures all bank deposits up to 100k
Wagner Act
Guarantees workers’ rights to join unions, allowed for collective bargaining.
FDR vs Supreme Court
Supreme court declares NRA and AAA unconstitutional. FDR calls for judicial reorganization bill.
Alfred Landon
Loses election of 1936, wanted to continue aid but cut costs.
Huey Long
“Kingfish” from Louisiana. Called for taxing wealthy to aid average Americans. Challenged FDR for president.