Herbert Hoover

-Hoover was an accomplished public servant who ran for the White House. Herbert Hoover became a presidential candidate in 1928 and he won. Hoover was the president during the Great Depression

Speculation

• was the practice of making high risk investments in the hope of obtaining large profits.
• Ex: investors gambling

Black Tuesday

• October 29, the day the United States crashed down. All sorts of money were lost. Millions of people had lost everything they had shared and had.

Business cycle

• is the period growth and reparation of the economy state.

Great Depression

• a stock market crashed that lasted from 1929 to 1941. it affected people nation wide losing strength and jobs.

Hawley-Smoot Tariff

• a tariff passed by Congress in hopes of protecting American products. This raised prices on foreign imports.
• this tariff inspired by other countries, which led to a global depression.

Bread Line

• where people lined up to get free scraps of food from charities, public kitchens, and public agencies.

Hooverville

• like a small town made by homeless people using tents, shacks and cardboard and many more things. This "towns" were spread all around places.

Tenant Farmer

• are people who rented their land or people who worked for bigger landowners. Since banks had foreclosed their land and houses, many left looking for other jobs.

Dust Bowl

• an area of land that lost its plantation due to droughts. Due to droughts, loosesoil, and high winds, dust storms were created. The dust storms hit the southern Great Plains.

Okies

• are people or whole families that were Dust Bowl refugees. Many headed to California or Washington or any place where they could find a job. About 800,000 people migrated of Oklahoma, Arkansas, Texas and Missouri.

Repatriation

• are caucasian people who were in local, state, and federal goverments that encouraged, persuaded, wanted Mexican immigrants to return to their home land. (we still have some now days)

Localism

• a policy passed by President Hoover stating that local and state governments are to act as primary agents of economic problems.
• This did not work so the economic problems raised more like unemployment increased and charities ran low on money.

Reconstruction Finance Corporation

• a federal agency created by Congress in 1932 that provided emergency government credit or loans to banks, railroads, and big businesses.

Trickle-down Economics

• was an economic theory assumed by Hoover that the money poured into the top of the economic pyramid will pour down to the base(whole economy).

Hoover Dam

• was named the Boulder Dam(later changed) was one of the projects that Hoover succeeded. The Dam provides power to more than a million people each other. It also brought jobs to the southwest during the early 1930s.