APUSH Chapter 22

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.