U.S. History Chapter 14 Price Supports Government purchasing surplus crops at guaranteed prices to sell them on the world market.

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U.S. History Chapter 14 Price Supports Government purchasing surplus crops at guaranteed prices to sell them on the world market

U.S. History Chapter 14 Credit Buying products and paying for them over a period of time

U.S. History Chapter 14 Election of 1928 COOLIDGE WILL NOT RUN REP = HERBERT HOOVER DEM = ALFRED E. SMITH (GOVENOR OF NEW YORK) CATHOLIC 1ST TO RUN FOR PRESIDENT. (GOVENOR OF NEW YORK) CATHOLIC 1ST TO RUN FOR PRESIDENT. BIG CITY CANDIDATE VS. RURAL PROPER CANDIDATE ***RELIGION WAS A BIG ISSUE DURING THE CAMPAIGN. ***

U.S. History Chapter 14 Dow Jones Industrial Average Most widely used barometer of the stock markets health Measure based on the stock prices of 30 representative large firms trading on the NYSE

U.S. History Chapter 14 Speculation Buying stocks and bonds on the chance of a quick profit while ignoring the risks

U.S. History Chapter 14 Buying on Margin Paying a small percentage of a stock’s price as a down payment and borrowing the rest when investing in the stock market

U.S. History Chapter 14 Black Tuesday October 29, million shares of stock were “dumped” by investors trying getting out of bad investments Those who bought on credit were in serious trouble

U.S. History Chapter 14 Great Depression Period from in which the economy plummeted and unemployment skyrocketed. Worst economic time in the history of the United States

U.S. History Chapter Hawley-Smoot Tariff Established the highest protective tariff in United States History

U.S. History Chapter 14 Shantytowns Little towns consisting of shacks People were living in whatever they could junk together.

U.S. History Chapter 14 Hoovervilles Many people lived in cardboard and tent towns near local garbage dumps. To illustrate their disdain for the President these cardboard towns were called "Hoovervilles".

U.S. History Chapter 14 Soup Kitchens & Bread Lines Alternative to eating out of garbage cans or begging. Offered free or low cost food Usually run by charitable organizations

U.S. History Chapter 14 Life During the Depression 80 million people a week went to the movies. Movies were an escape from everyday problems-and cost around 25 cents. $89,931 was spent to see King Kong on it's opening weekend at Radio City Music Hall alone. Will Rogers stated that we were the, "only nation to go to the poor house in an automobile." The automobile represents our freedom and was usually the last possession people were willing to part with. Many would sell their home before selling their car.

U.S. History Chapter 14 Dust Bowl Region hit hardest by the drought and windstorms in the early 30s Thousands of “Okies” moved west to escape the dust bowl and find employment on CA farms

U.S. History Chapter 14 Direct Relief Cash payments or food given by the government directly to those affected by the depression During the early years of the depression there was NO direct relief

U.S. History Chapter 14 Rickets Caused by a vitamin D deficiency and results in defective bone growth

U.S. History Chapter 14 Rugged Indvidualism In 1931 Herbert Hoover called for the people to pull themselves up by their boot straps and work a little harder. People should not look to the government for assistance, they should suck it up and be a rugged individual.

U.S. History Chapter 14 Federal Home Loan Bank Act 1932 law signed by Hoover Lowered mortgage rates for homeowners and allowed farmers to refinance farm loans and avoid foreclosure

U.S. History Chapter 14 Boulder Dam 726 ft high, 1244 ft long. Second largest dam in the world. Later name Hoover Dam Sector Seven’s storage home for the All Spark and Megatron “No Sacrifice, No Victory.” –Optimus Prime.

U.S. History Chapter 14 Reconstruction Finance Corp 1932, authorized $2 billion for emergency financing for banks, life insurance companies, railroads, and other large businesses

U.S. History Chapter 14 Bonus Army A group of WWI veterans that came to Washington D.C. to petition Congress for a bonus in regards to their military service. The bonus was defeated in Congress, but the veterans stayed in D.C. and built a Hooverville across the street from the White House. Hoover sent out Douglass MacArthur and the Army. At first the veterans thought this was a parade in their honor, but MacArthur removed the bonus army without firing a single shot.