Hoover and the Crash HW
TERMS & Names
Herbert Hoover: Secretary of Commerce, he was also the Republic Candidate for President in 1928. He predicted growing prosperity. He made an agency to lend money to states, cities, and towns. In 1932 he lost to Franklin Roosevelt.
Speculation: Buying and selling stocks in the hope of making quick profit.
Buying on margin: Paid a small part of a stock's price as a down payment and borrowed the rest. The system only worked as long as prices rose, if prices fell borrowers couldn't repay their loans because they had to sell the stick for less than they paid for it.
Black Tuesday: A name given to October 29, 1929, when stock prices fell dramatically. The investors sold 16.4 million shares of stocks at prices
TERMS & Names
Herbert Hoover: Secretary of Commerce, he was also the Republic Candidate for President in 1928. He predicted growing prosperity. He made an agency to lend money to states, cities, and towns. In 1932 he lost to Franklin Roosevelt.
Speculation: Buying and selling stocks in the hope of making quick profit.
Buying on margin: Paid a small part of a stock's price as a down payment and borrowed the rest. The system only worked as long as prices rose, if prices fell borrowers couldn't repay their loans because they had to sell the stick for less than they paid for it.
Black Tuesday: A name given to October 29, 1929, when stock prices fell dramatically. The investors sold 16.4 million shares of stocks at prices