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Herbert Hoover
Herbert Hoover served as the 31st President of the United States (1929-1933) during the Great Depression. He created Federal Farm Board which coordinated crop production and was also a positive thinker who spoke often of prosperity (even after the crash). The stock market crashed 8 months into the presidency. He believed in "Rugged Individualism" and charity. Hoover passed Hawley Smoot tariff.[[https://en.wikipedia.org/wiki/Herbert_Hoover#/media/File:President_Hoover_portrait.tif] -
Black Tuesday
On October 29, 1929, share prices on the New York Stock Exchange completely collapsed, becoming a pivotal factor in the emergence of the Great Depression. Selling panic but no buyers.[http://www.bookofdaystales.com/black-tuesday/] -
Laws of Supply and Demand
The law of supply states that the quantity of a good supplied (i.e., the amount owners or producers offer for sale) rises as the market price rises, and falls as the price falls. Conversely, the law of demand (see demand) says that the quantity of a good demanded falls as the price rises, and vice versa. [https://www.e-education.psu.edu/geog597i_02/node/642] -
Unemployment Rate
The economy descended from essentially full employment in 1929 when the unemployment rate was 3.2 percent into massive unemployment in 1933 when the unemployment rate reached 25 percent. The first question is why was there such high unemployment in 1933.
[http://socialdemocracy21stcentury.blogspot.com/2013/08/why-did-wwii-lift-america-out-of.html] -
Dust Bowl
An area of land where vegetation has been lost and soil reduced to dust and eroded, especially as a consequence of drought or unsuitable farming practice.
Oklahoma, Kansas, and northern Texas were affected by severe soil erosion (caused by windstorms) in the early 1930s, which obliged many people to move. [https://www.smithsonianmag.com/science-nature/are-we-headed-for-another-dust-bowl-129556121/] -
Buying on Margin
Buying on margin is the purchase of an asset by paying the margin and borrowing the balance from a bank or broker. Buying on margin refers to the initial or down payment made to the broker for the asset being purchased; the collateral for the borrowed funds is the marginable securities in the investor's account. (paying part of the cost and borrowing the rest from) brokers[https://rolstonhistory12.weebly.com/buying-on-margin.html] -
Bonus Army
Thousands ofWorld War I veterans and their families, who gathered in Washington, D.C. in the summer of 1932 to demand cash-payment redemption of their service certificates.They protested peacefully. President Herbert Hoover then ordered the Army to clear the marchers' campsite. The Bonus Army marchers with their wives and children were driven out, and their shelters and belongings burned. The president, Hubert Hoover, was blamed for the escalation of the protest. -
New Deal
The New Deal was a series of federal programs, public work projects, financial reforms and regulations enacted in the United States during the 1930s in response to the Great Depression. They included both laws passed by Congress as well as presidential executive orders, most during the first term of the presidency of Franklin D. Roosevelt.
Included following programs: CCC, CWA, FSA, NIRA, SSA
[https://www.britannica.com/event/New-Deal] -
Bank Holiday
To rebuild confidence in the nation's banking system on March 6 Roosevelt declared a four-day national banking holiday that kept all banks shut until Congress could act. (A day or several days when banks are closed and depositor's cannot withdraw money)
[https://newdeal-renfrow.wikispaces.com/Bank+Holiday] -
Franklin Roosevelt
F. D. Roosevelt served as the 32nd President of the United States from 1933 until his death in 1945. Roosevelt directed the United States federal government during most of the Great Depression, implementing his New Deal domestic agenda in response to the worst economic crisis in U.S. history.
- created "Brain Trust"
[https://www.biography.com/people/franklin-d-roosevelt-9463381]
