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Unit 14: New Deal &
Chapter 22 The Great Depression and 23 The New Deal
| Question | Answer |
|---|---|
| Great Depression | a severe, world wide economic crisis which lasted from the end of 1929 to the outbreak of World War II in 1941. |
| Black Tuesday | October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929 |
| Bull Market | period of increased stock trading and rising stock prices |
| Stock | a certificate documenting the shareholder's ownership in the corporation |
| Buying on Margin | An option that allowed investors to purchase a stock for only a fraction of its price and borrow the rest |
| margin call | Demand by a broker that investors pay back loans made for stocks purchased on margin. |
| Stock Market | A general term used to describe all transactions involving the buying and selling of stock shares issued by a company. |
| speculation | buying shares, betting that the stock market will continue to climb , and then selling the stock to make money quickly |
| Hawley-Smoot Tariff | The highest import tax in American history to increase jobs by preventing cheaper European goods from entering the country, |
| Herbert Hoover | U.S. president during stock market crash, who rejected the Progressive emphasis on activist government to pursue a program of minimal business regulation, low taxes, and high tariffs; encouraged businesses to regulate themselves |
| Dust Bowl | the dried up lands of the Great Plains that resulted from a severe drought and over farming. |
| Hoovervilles | Shantytowns that the unemployed built in the cities during the early years of the Depression; the name given to them shows that the people blamed Hoover directly for the Depression. |
| Reconstruction Finance Corporation | Part of Hoover's plan to fix the economy during the Depression. This organization was set up by Congress to make loans to businesses |
| Bonus Expeditionary Force ("Bonus Army") | Thousands of World War I veterans, who insisted on immediate payment of their bonus certificates, marched on Washington in 1932; violence ensued when President Herbert Hoover ordered their villages cleared. |
| Franklin Delano Roosevelt (FDR) | the 32nd president of the United States. He was president from 1933 until his death in 1945 during both the Great Depression and World War II. |
| The Three Rs | Refers to FDR's plan of Relief, Recovery, and Reform. Relief |
| Bank Holiday | FDR Closed all banks until government examiners could investigate their financial condition; only sound/solvent banks were allowed to reopen |
| Public works | government-financed building projects |
| New Deal | Franklin Roosevelt's economic reform program designed to solve the problems of the Great Depression |
| Hundred Days | the time between March 9 and June 16, 1933, when the Democratic party contolled Congress passed many laws to try to deal with the Great Depression |
| Securities and Exchange Commission (SEC) | a government agency set up to regulate the stock market and prevent fraud |
| Agricultural Adjustment Act (AAA) | a law enacted in 1933 to raise crop prices by paying farmers to leave a certain amount of their land unplanted, thus lowering production to raise the value (price) for crops. |
| Civilian Conservation Corps (CCC) | Relief:New Deal program created by the Unemployment Relief Act. It provided employment in government camps for 3 million men. The work they were involved in included reforestation, fire fighting, flood control, and swamp drainage. |
| Glass-Steagall Act | Reform: It separated banks into different categories. The banks couldn't gamble with the investments, so the investments were kept safe; protected bank depositors; forced a separation between commericial banking and investment banking |
| National Labor Relations Act (Wagner Act) | A 1935 law, that guarantees workers the right of collective bargaining, sets down rules to protect unions and organizers, and created the National Labor Relations Board to regulate labor-management relations |
| National Industrial Recovery Act | Sought to help business, raise prices, control production, and put people back to work. This act established the National Recovery Administration (NRA), with the power to set fair competition codes in all industries |
| National Recovery Administration (NRA) | Government agency that was part of the New Deal and dealt with the industrial sector of the economy. It allowed industries to create fair competition which were intended to reduce destructive competition |
| Social Security Act | Part of Second New Deal, An act passed in 1935 gave government-payed pensions to American citizens over the age 65 as well as provided help for the unemployed, the disabled, and the needy., created a tax on workers and employers. |
| Works Progress Administration (WPA) | (1) unemployment relief agency that received much of the $5 billion allocated to FDR by the Emergency Relief Allocation Act of 1935; |
| sit-down strike | a protest action in which workers stopped working and refused to leave the factory |
| fireside chats | radio broadcasts that President Roosevelt held with the American people to let them know what he hoped to accomplish |
| Bank Failure | People tried to withdraw money from banks but couldn't because some banks didn't have the money because they had invested it in stocks, |
| Oakies | During the Depression this nickname was commonly given to refugees from the Great Plains seeking to escape the dust bowl. These people were looking for work as migrant farmhands |
| Bread Lines | Groups of hungry people waiting outside charitable organizations for free meals during The Great Depression |
| Dorothea Lange | American photographer who recorded the Great Depression by taking pictures of the unemployed and rural poor, Sent out by the government to record the Great Depression by taking pictures, she took the picture "Migrant Mother". |
| Eleanor Roosevelt | FDR's Wife and New Deal supporter. Was a great supporter of civil rights and opposed the Jim Crow laws. |
| Tennessee Valley Authority | A New Deal agency created to generate electric power and control floods in a seven-U.S.-state region around the Tennessee River Valley . It created many dams that provided electricity as well as jobs. |
| National Youth Administration | 1935, provided education jobs counseling and recreation for young people. part time positions at schools for students allowed for aid in h.s. college and grad school. part time jobs for drop outs |
| Huey Long | Flamboyant Louisiana governor and U.S. senator; he challenged FDR to do more for the poor and needy and proposed a popular "Share-Our-Wealth" program to tax the wealthy in order to provide a guaranteed income for the poor. He was assassinated in 1935. |
| Brain Trust | FDR's reform-minded intellectual advisers, who conceived much of the New Deal legislation. |
| Deflation | A situation in which prices are declining |
| Frances Perkins | was the U.S. Secretary of Labor from 1933 to 1945, and the first woman ever appointed to the cabinet. As a loyal supporter of her friend Franklin D. Roosevelt, she helped pull the labor movement into the New Deal coalition |
| Emergency Banking Act | (FDR) 1933 , gave the President power over the banking system and set up a system by which banks would be reorganized or reopened |
| Second New Deal | Despite the continuation of the Depression, Democrats did well in the midterm elections in November 1934. In the Spring of 1935 Roosevelt set out on his 'Second New Deal' new focus of security, regulation and planned development was put in place. |
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