Chapter 25 Vocabulary

Stock exchange An organized system for buying and selling

shares in corporations

On margin Paying only a

fraction of the stock price and borrowing the rest from the stock broker

Brokers then borrowed money from the banks.

Default Fail to meet loan payments

Relief Aid for the needy

Public works Projects such as

highways, parks, and libraries

Hundred Days A special session of Congress that

Roosevelt called to launch his programs

New Deal The new laws

Congress passed during the Hundred Days – and in the months and years that followed.

Work relief Giving needy people government jobs

Subsidies Grants of money

Dust Bowl Western Kansas

and Oklahoma, northern Texas, and eastern Colorado and New Mexico – the region hardest hit by the severe drought in the Great Plains region of the U.S.

Migrant workers Workers who

move from place to place to harvest fruits and vegetables.

Pension Monthly payments for older people who

retire from their jobs leaving them open for younger workers.

Second New Deal A new set of programs and reforms

launched in 1935 by Roosevelt.

Social Security Act Created a tax on

workers and employers. That money provided monthly pensions for retired people

Unemployment insurance Payments to people who lost their jobs