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24 Cards in this Set

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Herbert Hoover
US president 1929-33 Republican; former sec of commerce; "Great Engineer"; campaign slogan was “a chicken in every pot and two cars in every garage.”; vowed to continue Prohibition; represented rural, agrarian interests; gov't should be "an umpire instead of a player"; first presidential winner to lose in the nation's 12 largest cities; DID NOT believe that gov't should let economic events run their course but rather that it should help people to help themselves.
Alfred E. Smith
US presidential candidate 1928 Democrat; His acceptance speech was the first live broadcast of a political event on television - few saw it, more heard it on radio; first major-party candidate of Roman Catholic faith
armories
storehouses for guns
Agricultural Marketing Act
1929 farming legislation established a Federal Farm Board, promoted organization of agriculture and lent money for agricultural marketing cooperatives - to help keep prices stable
securities
stocks and bonds
speculation
engaging in a risky business venture on the chance that a quick or sizable profit can be made; people buy stocks that they think will rise in price quickly and then sell for a profit
on margin
to buy stock with a small cash down payment and borrowing the rest from a stockbroker who would then hold the shares as collateral for the loan
Federal Reserve Board
central bank of the US; function is to supervise and regulate banks & implement money policy by buying/selling US Treasury Bonds
Black Tuesday
October 29, 1929 - five days after the New York Stock Exchange crash when general panic set in and everyone tried to pull out of the market at once; marked the start of the Great Depression
installment buying
an agreement whereby a purchases made a down payment and paid the rest of the cost in periodic regular installments to which an interest charge was added
Fordney-McCumber Act
1922; created a Tariff Commission to raise or lower rates by 50%; retaliatory tariffs sprang up - interfered with world trade and destroyed foreign markets for American goods
Mellon tax policies
aided upper classes; contributed to the uneven distribution of wealth
Hawley-Smoot Tariff
1930; highest protective tariff in peacetime history and protracted the Great Depression; everyone told Hoover not to sign it but he did
Reconstruction Finance Corporation (RFC)
1932; made loans to the states for public works and unemployment relief. In addition, the RFC made loans to banks, railroads and agriculture credit organizations.
Adolf Hitler
leader of the Nationalist Socialist German Workers Party (Nazis)and the chancellor of Nazi Germany 1933-35
moratorium
suspension of payments for debts or obligations for a specific time
economic sanctions
economic penalties applied by one country on another for a variety of reasons - can include tariffs, import duties, trade barriers, import/export quotas
Charles M. Schwab
American steel industrialist; developed the H-beam in 1908 and revolutionized building construction; made possible the age of skyscrapers; went broke in the Crash
Hoovervilles
villages often formed in desolate areas or unpleasant neighborhoods and consisted of dozens or hundreds of shacks and tents that were temporary residences of those left unemployed and homeless by the Great Depression
Bonus Army
15,000 WWI veterans & families that demonstrated in Washington, DC in 1932 seeking immediate payment of a bonus promised for payment in 1945; protesters camped in makeshift shacks; federal troops would be ordered to disperse the marchers and there were casualties
General Douglas MacArthur
commander of the federal troops sent to drive the Bonus Army out of Washington using tanks, machine guns, and tear gas
Franklin D. Roosevelt
US president 1933-45; Democrat
20th Amendment
amendment that changed the date of the presidential inauguration from Mar 4 to January 20
Lame Duck
an elected official currently in office whose replacement has been chosen, but not yet formally sworn in -- has little influence because his term is about to end