Great Depression and New Deal

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Great Depression

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A severe, worldwide economic crisis which lasted from the end of 1929 to the outbreak of World War II in 1941.

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Black Tuesday

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October 29, 1929; the day the stock market crashed, leading to the Panic of 1929.

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Bull Market

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Period of increased stock trading and rising stock prices.

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Stock

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A certificate documenting the shareholder's ownership in the corporation.

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Buying on Margin

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An option that allowed investors to purchase a stock for only a fraction of its price and borrow the rest.

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Stock Market

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A general term used to describe all transactions involving the buying and selling of stock shares issued by a company.

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Speculation

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Buying shares, betting that the stock market will continue to climb, and then selling the stock to make money quickly.

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Hoovervilles

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Shantytowns that the unemployed built in the cities during the early years of the Depression; the name given to them shows that the people blamed Hoover directly for the Depression.

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Reconstruction Finance Corporation

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Part of Hoover's plan to fix the economy during the Depression. This organization was set up by Congress to make loans to businesses.

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Bank Holiday

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FDR closed all banks until government examiners could investigate their financial condition; only sound/solvent banks were allowed to reopen.