NWRHS US History Ch 17 vocabulary
Terms
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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.â€; 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
- 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