1. Chapter 25 Vocabulary

2. Stock exchange
An organized system for buying and selling shares in corporations

3. On margin
Paying only a fraction of the stock price and borrowing the rest from the stock broker
Brokers then borrowed money from the banks.

4. Default
Fail to meet loan payments

5. Relief
Aid for the needy

6. Public works
Projects such as highways, parks, and libraries

7. Hundred Days
A special session of Congress that Roosevelt called to launch his programs

8. New Deal
The new laws Congress passed during the Hundred Days – and in the months and years that followed.

9. Work relief
Giving needy people government jobs

10. Subsidies
Grants of money

11. Dust Bowl
Western Kansas and Oklahoma, northern Texas, and eastern Colorado and New Mexico – the region hardest hit by the severe drought in the Great Plains region of the U.S.

12. Migrant workers
Workers who move from place to place to harvest fruits and vegetables.

13. Pension
Monthly payments for older people who retire from their jobs leaving them open for younger workers.

14. Second New Deal
A new set of programs and reforms launched in 1935 by Roosevelt.

15. Social Security Act
Created a tax on workers and employers. That money provided monthly pensions for retired people

16. Unemployment insurance
Payments to people who lost their jobs