The Great Depression and New Deal Flashcards

Terms Definitions
pwa
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Alfred M. Landon
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Jonas Salk
Invented Polio Vaccine
REA
provided electricity to rural areas
New Deal
Franklin Roosevelt's economic reform program designed to solve the problems of the Great Depression
FDIC
a federally sponsored corporation that insures accounts in national banks and other qualified institutions
Hoover Dam
Colorado River. Constructed 1930-1936. Provides irrigation, flood control, electricity.
Liberty League
conservative capitalists trying to preserve the free enterprise system; made up of wealthy industrialists, financiers, and corporation lawyers and of conservative Wilsonian Democrats; accused FDR of being a "traitor to his class"; supported Alfred M Landon, the Republican Candidate for president int he 1936 election; Referred to as "country club set" b/c they were rich
Herbert Hoover
31st president from 1929 - 1933.
Securities Act
required full disclosures from stock exchanges
Dawes Plan
American plan to restructure German debt
National Youth Administration
(NYA) 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
Joesph Kennedy
film magnate, entrepreneur, and the father of a future presidnet
Franklin Roosevelt's Hundred Days
first attacked bank crisis
SEC
New Deal agency established to provide a public watchdog against deception and fraud in stock trading
Dow Jones
The average price of 30 selected industrial stocks, used as a measure of general market trends
The Great Plains became known as what during the 1930s?
dustbowl
Frances Perkins
First woman appointed to a cabinet position. Appointed by FDR, she became Secretary of Labor. She received a lot of undeserved criticism from male politicians and businessmen.
gold standard
a monetary standard under which the basic unit of currency is defined by a stated quantity of gold
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.
Election of 1936
FDR "The Champ" (D-incumbent); Alfred Landon (R-KS gov'nor)
John Maynard Keynes
Considered the father of modern macroeconomics, this British economist's ideas of stimulating economic activity through government spending were used in FDR's New Deal
John L. Lewis
fiery organizer of miner's union, organized coal miner's strike
Glass Steagall Act
1933 establishes FDIC (federal deposit insurance corporation), adds 1 million in gold to inflate currency
Credit
An arrangement in which a buyer pays later for a purchase, often on an installment plan with interest charges
Emergency Banking Act
Set up procedures for failed banks, and tightened regulations governing banking practices
20th Amendment
• cut the lame-duck period down to six weeks, so FDR began his second term on January 20, 1937, instead of on March 4.
Buying on margin
Purching stock with a little money down with the promise of paying the balance at sometime in the future
bonus army
Group of WWI vets. that marched to D.C. in 1932 to demand the immediate payment of their goverment war bonuses in cash
Scottsboro Boys
Nine young black men between the ages of 13 to 19 were accused of of raping two white women by the names of Victoria Price and Ruby Bates. All of the young men were charged and convicted of rape by white juries, despite the weak and contradictory testimonies of the witnesses
Federal Securities Act
(FDR) 1933, 1934, , required promoters to transmit to the investor sworn information regarding the soundness of their stocks and bonds
Scopes Monkey Trial
1925, the trial that pitted the teaching of Darwin's theory of evolution against teaching Bible creationism
NYA: National Youth Administration
provided aid and employment for students ages 16-25; this agency was part of the WPA, along with the Federal Theater Project and the Federal Wrriter's Project
farm security administrations
gave loans to tenants so they could purchase farms
Civilian Conservation Corps
Hired unemployed young men to work on environmental conservation projects for $30 a month
Works Progress Administration
May 6, 1935- Began under Hoover and continued under Roosevelt but was headed by Harry L. Hopkins. Provided jobs and income to the unemplyed but couldn't work more than 30 hours a week. It built many public buildings and roads, and as well operated a large arts project.
deficit spending
spending as though you do not have a deficit, even when you do, in order to stimulate the economy. Must borrow from other countries, based on keynes.
GOals of the NRA
minimum wage, maximum work week, no child labor
US International Economic Policies of the late 1920s
promote American business by putting high tariffs on foreign products
Butler v. United States
in this 1936 Supreme Court case, the Court invalidated the Agricultural Adjustment Administration, declaring it unconstitutional at regulating agriculture (money given to farmers raised through illegal tax)
FDIC, SEC, and Social Security
Much of the New Deal legislation is still in existence today, like the _____, the _____, and _____.
What did FDR have and where was he treated?
Pollio. Warm Springs, Georgia
Wagner Act
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Bull Market
Strong Market
21st Amendment
1933; prohibition repealed officially
Glass-Stegall Act
separated commercial and investment banking and gaurenteed bank deposits
SSA
provided pensions for the elderly, unemployment insurance, disability; Reform
Okies
migrants from Oklahoma to California during the dust bowl
john lewis
long-time labor leader who organized and led the first important unskilled workers labor union, called in to represent union during sit-down strike
CWA
: emergency work relief program, put more than four million people to work during the winter of 1933-34
Lucy Burns
Alice Paul's partner, campained for 19th amendment.
Business Cycle..
The Pattern Overtime of Economic Growth && Expansion, Followed By Economic Contraction && Decline..
voluntarism
Hoover believed this, the belief that Americans should donate as much money as possible to charities and should give time and money dedicated to the well-being of the country.
market economy
an economic system based on free enterprise, in which businesses are privately owned, and production and prices are determined by supply and demand
NRA
New Deal program that attempted to set prices and wages in key industries; declared unconstitutional
installment buying
a consumers buys products (radios and cars) by promising to pay small, regular amounts over a period of time
collective bargaining
the right of workers to request changes; protected by NLRA
President Hoover
many Americans blamed him for the Great Depression
hobo
person who wanders about and lives by begging or doing odd jobs
Hoover's administration
Caused home owners to plant victory garden's in their yards. School children spent their after-school hours growing tomatoes and cucumbers in the parks. As a result the American food shipment to the Allies tripled and farmer's prospered greatly.
Justice Roberts
Supreme Court justice whose "switch in time" to support New Deal legislation help undercut FDR's Court-packing scheme
dr. francis townshend
american physician best known for his revolving old-age pension proposal during the great depression. wanted gov't to give a month of pension to elderly.
Migrant Mother
famous Dust Bowl image of mother and children taken by Dorothea Lange
Federal Emergency Relief Act
funds for state and local govs
margin buying
paying part of the cost and borrowing the rest from brokers
Black tuesday
October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929
Three R's: Relief, Recovery, and Reform
Relief, recovery, and reform
General Motors Strike
1936 sit-down strike in which workers refused to leave until their wages were increased.
Rural Electrification Administration (REA)
Gave electricity to rural houses, as well as farmers.
Civilian Conservation Corps Act
CCC to provide relief work for reforestation and other projects
Hawley Smoot Tariff act
An act, sponsored by United States Senator Reed Smoot and Representative Willis C. Hawley, and signed into law on June 17, 1930, that raised U.S. tariffs on over 20,000 imported goods to record levels.
Rural Electrification Act..
Dealt With The High Cost && Helped Federally Fund the Distribution of Electricity..
Reconstruction Finance Corporation (1932)
Gave money to banks, and authorized banks to loan this money to businesses and railroads
Wagner Act/ National Labor Relations Act
Protected American workers from unfair management practices, like firing workers when they joined a union.
National Industrial Recovery Act
A New Deal legislation that focused on the employment of the unemployed and the regulation of unfair business ethics. The NIRA pumped cash into the economy to stimulate the job market and created codes that businesses were to follow to maintain the ideal of fair competition and created the NRA.
Emergency Banking Relief Act (1993)
it was designed to primarily protect larger banks from being dragged down by the weakness of smaller banks
Public Utility Holding Act
FDR's way of taking control of the big corporations' power
Roosevelt's attempt to "pack" the Supreme Court
may have pushed the Court toward more liberal rulings but badly hurt FDR politically
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