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Hoovervilles
Unplanned slum development on the outskirts of cities, dominated by crude dwellings and shelters made mostly of scrap wood, iron, and even pieces of cardboard. -
Smoot-Hawley Tariff
Legislation passed in 1930 under President Hoover that established very high tariffs (taxes on imports). Its objective was to reduce foreign imports and stimulate the domestic economy, but it only angered other countries and drastically weakened international trade. -
100,000 Banks Have Failed
As the economic depression deepened in the early 30's, and as farmers had less and less money to spend in town, banks began to fail at alarming rates. During the 20's, there was an average of 70 banks failing each year nationally. After the crash during the first 10 months of 1930, 744 banks failed – 10 times as many. -
Dust Bowl
Region of the Great Plains that experienced a drought in 1930 lasting for a decade, leaving many farmers without work or substantial wages.
