Congress tried to help out farmers with a piece of legislation called the McNary-Haugen bill. **The gov. would buy surplus crops at guaranteed prices and sell them on the world market.
An arrangement in which consumers agreed to buy now and pay later for purchases (installment plan). **because it was made easily available Americans acquired a large amount of debt and many stopped spending or went bankrupt. ** Contributing factor to the Great Depression.
buying stocks and bonds on the chance of a quick profit while ignoring the risks **Contributing factor to the Great Depression
The day the bottom fell out of the market and the nations confidence. Stock holders tried to sell their shares before prices dropped. 16.4 million shares sold that day and those who bought stock on credit could afford to pay it back. ** Signaled the start of the Great depression.
Buying on margin
purchasing stocks on credit, or with borrowed money **When the stock market crashed people who borrowed to buy stock didn't have any way to pay it back.
The New Deal
FDR's social service programs that helped the poor and raised the national debt **Focused on three general goals: relief for the needy, economic recovery and financial reform.