Quiz Review: Great Depression

rugged individualism

belief that you need to help yourself rather than allowing the government to assist you

bull market

a market where stocks are expected to rise

bear market

a market where stocks are expected to decline

speculating

buying a lot of stock in the hopes that prices will go up

buying on margin

taking out a loan and investing it in the stock market

Black Tuesday

the day that the stock market crashed (October 29, 1929)

Hoovervilles

shantytowns where people built shelters out of anything they could find

Bonus Army March

World War I veterans asked for their bonuses. After the government denied their request, the military forced the veterans out of Washington, D.C.

Roosevelt's 3 R Campaign

Relief for people out of work; recovery for the economy; reform of American economic institutions

lame duck president

a period between when a president is elected and when he is sworn into office

National Bank Holiday

FDR closes all banks and only the healthy ones are allowed to reopen

Brain Trust

a group of advisers who help Roosevelt restore the economy

fireside chats

using the radio to update the American public on the government's response to the Great Depression

Charles Coughlin

a radio priest who wanted to put a heavy tax on the wealthy and give that money to the poor

Frances Townsend

a physician who wanted the elderly to receive a guaranteed pension

Huey Long

a Louisiana politician who wanted the government to "Share the Wealth"

Share the Wealth

a proposed program of Huey Long who wanted to take land from the rich and share it with the poor