entrepreneurship - The process whereby an individual initiates a business at some risk in order to expand it and thereby earn a profit.  “Wilson’s New Freedom . . . favored small enterprise [and] entrepreneurship . . . . “

self-determination -  In politics, the right of a people to shape its own national identity and form og government, without outside coercion of influence.  “. . . [the Confederacy] . . . partly inspired his ideal of self-determination for minority peoples. . . . ”

piety - Devotion to religious duty and practices.  “. . . Wilson was reared in an atmosphere of fervent piety.”

graduated income tax - A tax on income in which the taxation rates are progressively higher for those whit higher income.  “Congress enacted a graduated income tax. . . . “

levy - A forcible tax or other imposition.  “. . . [the] income tax [began] with a modest levy on income over 3,000. . . .”

inelasticity - The inability to expand or contract rapidly.  “[The] most serious shortcoming [of the country’s financial structure] was the inelasticity of the currency.”

commercial paper - Any business document having monetary or exchangeable value.  “The . . . paper money [was] backed by commercial paper. . . .”

promissory note - a written pledge to pay a certain person a specified sum of money at a certain time.  “The . . . paper money [was] backed by commercial paper, such as promissory notes of business people.”

adulteration - Debasing a product or substance by substituting poor-quality components ingredients.  “. . . unfair trade practices . . . includ[ed] . .  mislabeling, adulteration, and bribery.”

agricultural extension - The system of providing services and advice to farmers through dispersed local agents.  “Other laws . . . provid[ed] for . . .  the establishment of agricultural exten-sion work in the state colleges.”

enclave - A small territory surrounded by foreign or hostile territory.  “Though often segregated in Spanish-speaking enclaves, they helped to create a unique borderland culture. . . .”

gringo - Contemptuous Latin American term for North Americans.  “Willa displayed his hatred of the gringos. . . .”

censor - An official who examines publications, mail, literature, and so forth in order to remove or prohibit the distribution of material deemed dangerous or offensive.  “Their censors sheared away war stories harmful to the Allies. . . .”

torpedo To launch from a submarine or airplane a self-propelled underwater explosive designed to detonate on impact.  “. . .  the British passenger liner Lusitania was torpedoes and sank. . . .”

draft - In politics, to choose an individual to run for office without that person’s prior solicitation of the nomination, “Instead they drafted Supreme Court Justice Charles Evans Hughes. . . .”