The Great Depression

Flashcards about The Great Depression

Installment plans

Paying for things with credit and racking up huge debt, paid off in installments with interest charges.

Speculation

Buying stocks to make quick profits, ignoring the risks.

Bull Market

A stock market with steadily increasing stock prices.

Black Tuesday

October 29, 1929 – Day the stock market crashed.

Smoot-Hawley Tariff

Passed by Congress in 1930. Highest protective tariff – designed to protect American farmers and manufacturers from foreign competition, but did the opposite. Cut U.S. trade in half.

Dust Bowl

Hardest hit areas of a series of droughts in the 1930s. Droughts dried crops and turned the soil into dust – windstorms carried the dust hundreds of miles.

Bonus Expeditionary Force

WWI veterans and their families who arrived in D.C. to support the Patman Bill.