US History chapter 14

the McNary-Haugen bill subsidies provided by the federal government where surpluses are purchased; this action reduces supply and keeps prices at a level required by the producer. key products:wheat, corn, cotton, and tobacco 14.1

an arrangement in which consumers agreed to buy now and pay later for purchases 14.1

Democrat against Republican candidate Herbert Hoover ELECTION OF 1928 Smith lost 14.1

the most widely used barometer of the stock market's health. its is a measure based on the stock prices of 30 representative large firms trading on the New York Stock Exchange. 14.1

they bought stocks and bonds on the chance of a quick profit, while ignoring the risks. 14.1

paying a small percentage of a stock's price as a down payment and borrowing the rest. 14.1

A name given to October 29, 1929, when stock prices fell sharply. 14.1

(HH) , starting with collapse of the US stock market in 1929, period of worldwide economic stagnation and depression. Heavy borrowing by European nations from USA during WW1 contributed to instability in European economies. Sharp declines in income and production as buying and selling slowed down. Widespread unemployment, countries raised tariffs to protect their industries. America stopped investing in Europe. Lead to loss of confidence that economies were self adjusting, HH was blamed for it 14.1

established the highest protective tariff in United States history. It was designed to protect American farmers and manufacturers from foreign competition. had opposite effect 14.1

trucks, buses, and private automobiles hydroelectric power, fuel oil, and natural gas 14.1

Stock market crash investors had lost about $30 billion 14.1

• tariffs and war debt policies that cut down the foreign market for American goods • a crisis in the farm sector • the availability of easy credit • an unequal distribution of income 14.1

little towns consisting of shacks made out of scrap materials. 14.2

offered free or low-cost food 14.2

lines of people waiting to receive food provided by charitable organizations or public agencies 14.2

A drought in the 1930s that turned the Great Planes very dry. caused by plowing protective prairie grass and over production. windstorms carried dust hundreds of miles 14.2

cash payments or food provided by the government to the poor- was not available in the first years

(1929-1933) The New York Stock Market Crashes October 29, 1929 "Black Tuesday". The 20th Amendment is passed and added and the 21st Amendment is passed by 1933. 14.3

Hoover dam- built to create jobs 14.3

backed the creation of the Federal Farm Board it rose crop prices by helping members to buy crops and keep them off the market temporarily until prices rose. also tried to prop up the banking system by persuading the nation's largest banks to establish the National Credit Corporation. This organization loaned money to smaller banks, which helped them stave off bankruptcy. 14.3

Lowered mortgage rates for homeowners and allowed farmers to refinance their farm loans and avoid foreclosure 14.3

separated investment from commercial banking and would, Congress hoped, prevent another crash. 14.3

authorized up to $2 billion for emergency financing for banks, life insurance companies, railroads, and other large corporations. didnt help the average citizen 14.3

led by Walter Waters, World War I veterans and their families arrived in Washington, D.C. to support the patman bill

authorized the government to pay a bonus to World War I veterans who had not been compensated adequately for their wartime service. it wasn't passed