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ESOL U.S. History – chapter 27 – homework

Directions: Study this glossary to improve your vocabulary. You should use this
glossary to complete the vocabulary exercise at the end of this packet. The words in
this glossary will be used on the test for chapter 27.

stock market
the place where people buy and sell stock for corporations.

The U.S. stock market is located on Wall Street in New York City.

During the 1920’s many Americans invested all their money in the stock market.

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stock market crash
when the value of most stock suddenly falls to a very low price

October 29, 1929 became known as “black Tuesday” because that was the day the stock
market crashed.

Many people in the U.S. lost all their savings when the stock market crashed.

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invest
to put money into a business or a bank with the hope that it will grow and earn
more money

During the 1920’s, the value of stock kept on increasing, so more people wanted to invest
in the stock market.

Many people even borrowed money so they could invest in the stock market.

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employment
when people have jobs, it is called employment
when people don’t have jobs, it is called unemployment

During the Great Depression, employment was hard to find.

The unemployment rate was very high during the 1930’s.

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migrant farm workers
people who travel from farm to farm looking for farm work
These people will pick fruit or vegetables on one farm, then, travel to another
farm to pick fruit or vegetables there. This kind of work causes them to travel a
lot. They may be in Florida in one season and Maine in another.

Farmers who lost their own farms during the Great Depression became migrant farm
workers.

During the 1930’s migrant farm workers traveled all over the nation looking for work.

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veteran
a person who was a soldier in a war but is now retired from the military

Veterans of World War I were supposed to receive a bonus from the U.S. military in
1945.

During the Great Depression, many of those veterans needed money to feed their
families, so they asked the government to give them their bonuses earlier.

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recovery
getting healthier or stronger

One of the goals of Roosevelt’s New Deal was economic recovery.

Roosevelt hoped that his programs would cause a recovery from the Great Depression.

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bank failure
when banks have lost all of their customer’s money and cannot give it back

The stock market crash in 1929 caused many bank failures because the banks had
invested people’s money in stock.

The bank failures continued until 1937 when the government passed laws that restored
public confidence in their nation’s banks.

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insurance
when people pay money to the government or a company, but that company
promises to help them during an emergency or crisis
examples are: health insurance, unemployment insurance, home insurance

In 1929, the banks had no insurance for their customer’s deposits, so when bank’s failed,
the customers lost all their money.

During the New Deal, the government made the FDIC, which gave insurance for all
money people placed in bank accounts, so if their bank failed, they would not lose all
their money.

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restore confidence
to make people believe in something or trust it again

The FDIC restored people’s confidence in banks.

The purpose of the SEC was to restore public confidence in the stock market.

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pension
a program by which people save money for the future when they are old and
retire

The Social Security program gave every U.S. citizen a pension.

If you have a pension, then you will have the money you need to live when you get too
old to work.

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minority
people who are not members of the majority racial/ethnic group
In the U.S. the White people are the majority, so Hispanics, Asians, and African-
Americans are considered minorities.

Roosevelt was the first modern U.S. president to help minorities.

During an economic depression, all people suffer, but minorities suffer even more.

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polio
a disease that causes people to lose their ability to use their legs and become
handicapped

In the 1920’s and 1930’s many children caught polio and became handicapped.

Roosevelt contracted polio and became handicapped, but becoming handicapped made
Roosevelt a stronger and kinder person.

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tariff
a tax on products from other countries
Nations use tariffs to protect their own businesses from foreign competition

In the 1920’s many nations around the world made high tariffs.

Tariffs hurt international trade and cause the world economy to slow down.

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laissez-faire
the idea that government should leave businesses alone and not regulate
businesses or the economy

President Hoover believed in laissez-faire economics, so he did not want to interfere with
the economy when the depression started.

People who believed in laissez-fair economics did not like FDR’s New Deal programs.

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shack
a very small house that is made out of cheap materials

During the Great Depression, many people lived shacks made out made out of boxes and
junk because they did not have enough money to pay rent.

A “Hooverville” was a neighborhood full of small shacks made out of junk.

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breadlines & soup kitchens
places that gave away free bread or hot soup to poor people

Poor people went to breadlines or soup kitchens to get food.

The breadlines and soup kitchens had very long lines, so people had to wait a long time
just to get a bowl of soup or a piece of bread.

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prejudice
judging people before you know them
Examples of prejudice are racism, sexism, and nativism.

During the Great Depression, prejudice increases as people blamed immigrants for their
problems.

It was even harder for African-Americans and women to find work because of prejudice.

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drought
a long period of dry weather with no rain

During the 1930’s there was also a drought that lasted for seven years.

The drought turned the Great Plains into a desert.

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dust
fine particles of dirt or debris

Because of the drought, the wind would blow the dirt off the farms and make huge dust
storms.

During the drought, people started calling the Great Plains the Dust Bowl.

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relief
to give help to people who are hungry, sick, or homeless

Some New Deal programs were designed to give relief to the poor.

President Hoover did not believe it was good for the government to give relief to people
suffering during the Great Depression.

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reform
to change something to make it better and fix its problems

The purpose of the Securities and Exchange Commission (the SEC) was to reform the
stock market to prevent another crash.

The FDIC reforms banks by insuring customers’ deposits.

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Directions: Use the words in the word bank to fill in the blanks in the text below.
Use the sentences and definitions in the glossary to get ideas.

insurance              migrant                 invested               veterans
laissez-fair           crashed                 restored               drought
debts                  minorities              pension                recovery


The Great Depression started in the 1920’s with farmers who were not
making enough money and could not pay their __________. The banks took
their farms, so they became __________ farm workers on other people’s
farms.

During the 1920’s, the value of stock kept on increasing, so more people
wanted to invest in the stock market. Many people even borrowed money so
they could buy stock. Later, on October 29, 1929 when the stock market
__________, many people could not pay back the money they had borrowed
from the banks. The stock market crash also caused many bank failures
because the banks had also __________ their customer’s money in stock
instead of keeping safe.

By 1930, it was clear that the U.S. was in a serious depression. The
government needed to do something, but President Hoover believed in
__________ economics, so he did not want to interfere with the economy.

In 1931, a __________ started that made the problems for farmers even
worse. It lasted seven years and turned the Great Plains into a dusty desert.

Many of the people who needed help were __________ who had served in
the U.S. military during World War I. In 1932, they came to Washington
D.C. to ask the government to help them. Instead of helping them, Hoover
ordered soldiers to attack them and drive them out of D.C.

In 1932, Franklin Delano Roosevelt, or FDR, won the election and became
the new president of the United States. FDR created a series of programs
called the New Deal. He hoped those programs would start a __________
from the Great Depression.

One New Deal program was the FDIC. It gave __________ for all money
people placed in bank accounts, so if their bank failed, they would not lose
all their money. The FDIC __________ people’s confidence in their
nation’s banks. Another program, called Social Security, gave every U.S.
citizen a __________. Roosevelt was also the first modern U.S. president to
help __________ such as African-Americans and Jews.
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