The Great Depression

Speculation

Buying stocks for quick profit without regard for their actual value.

Margin buying

Buying stocks using borrowed money, increasing potential profit but also risk.

Black Tuesday

October 29, 1929, the day the stock market collapsed with over 16 million shares sold.

Overproduction

Producing more goods than can be consumed, leading to surpluses and economic decline.

Smoot-Hawley Tariff

1930 tariff that raised import taxes and triggered retaliatory tariffs, causing a decline in global trade.

Bank runs

Mass withdrawals of deposits from banks, often leading to the banks' collapse.

Hoovervilles

Shantytowns that emerged during the Great Depression, named after President Hoover.

Reconstruction Finance Corporation (RFC)

A government corporation created to provide loans to banks, railroads, and businesses during the Depression.

Stimson Doctrine

U.S. policy of non-recognition of territorial gains obtained by force, specifically towards Japan's invasion of Manchuria.

Great Depression

A severe worldwide economic downturn that began after the stock market crash in 1929.