Joseph Ekpo U.S. History Mr.

Ettinger November 25, 2012

Chapter 14 Terms & Names

1) Credit: arrangement for deferred payment for goods and services 2) Speculation: The risky buying and selling of stocks in the hope of making a quick profit. 3) Buying on margin: An option that allowed investors to purchase a stock for only a fraction of its price and borrow the rest. 4) Black Tuesday: October 29, 1929; date of the worst stock market crash in American history and beginning of the Great Depression. 5) Dow Jones Industrial Average: a measure of stock market prices based on thirty leading companies of the new york stock exchange and Nasdaq 6) Great Depression: the economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s 7) Dust Bowl: the area of the Great Plains where wind erosion caused soil loss during the 1930s 8) Direct Relief: cash payments or food provided by the government to the poor 9) Herbert Hoover: 31st President of the United States (1929-1933), Republican, initially dealt with the Great Depression by trying to restore public faith in local community. 10) Bonus Army: WWI veterans who marched on Washington demanding their $1,000 bonus pay before the 1945 due date. They were eventually removed by force. Critical Thinking Question Do you think it would have been difficult for the individuals to recover financially during the depression without the entire economy recovering? Why or why not? Yes, it would have been difficult for the individuals to recover financially during the depression without the entire economy recovering. The rich fleeced the poor, stole a lot of the pension money and got away with it. If I come across a wad of cash through some kind

the bank would probably be the last place to put it.of windfall. .

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