price support
the maintenance of a price at a certain level through government intervention
Alfred E. Smith
Governor of New York who ran as a Democrat for the 1928 elections
Dow Jones Industrial Average
a measure of stock market prices based on thirty leading companies of the new york stock exchange
speculation
risky buying and selling of stocks in the hope of making a quick profit
buying on margin
buying stock by paying only a portion of the full cost up-front with promises to pay the rest later
Black Tuesday
October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929
Great Depression
the economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s
Hawley-Smoot Tariff Act
a law, enacted in 1930, that established the highest protective tariff in U.S. history, worsening the depression in America and abroad.
foreclosed
can't make payments and the banks take your property.
default
fail to pay up
stagnant
not growing or changing
bull market
a steady rise in the stock market over a period of time
Gross National Product
total value of all goods and services produced in a nation
stock
a share or ownership in a company
McNary-Haugen Bill
sought to keep agricultural prices high by authorizing government to buy up surpluses and sell them abroad
