The Great Depression Unit Test Flashcards

Terms Definitions
economics
related money
Okies
Dust Bowl refugees.
scrip
temporary substitute for money
unemployment
not having a job
Works Progress Administration(WPA)
most criticized--"projects unnecessary, of poor quality, only collected money"
-Built Ft. Knox Gold Depository (KY), Lincoln Tunnel (NY/NJ), Hoover/Boulder Dam
Automobiles, construction, and consumer goods beginning to grow weak was due to what?
Boom industries.
Price Supports
Government-supported minimum prices for agricultural products.
the great depression
servere economic crisis
Reform
Government would insure bank accounts and government would change rules for investing in stock market to avoid future crashes ( FDIC & Truth-in-securities)
Deficit Spending
Spending money you dont have
Henry Wallace
AAA, Secretary of Agriculture; attempted to create a new farm bill
Fascists
a person with extremely nationalistic veiws.
roosevelt got _______ at age 39
polio
FDIC
created federally insure bank deposits to prevent bank failures (up to 5000$)
country that refuses to cancel French war debt
US
Huey Long
The biggest threat to FDR's leadership; Who was this corrupt Louisiana senator?
buying on margin
BUYING STOCKS with BORROWED $
Hyper Inflation
Sharp increase in prices, over excessive in price of object, value of currency goes down
relief program
government program to help the needy
Social Security Act
guaranteed retirement payments for enrolled workers beginning at age 65; set up federal-state system of unemployment insurance and care for dependent mothers and children, the handicapped, and public health
Model T
the first widely available automobile powered by a gasoline engine
Crash
Rapid fall in the price of stock
Wagner Act
1935, also National Labor Relations Act; granted rights to unions; allowed collective bargaining
Unwise Government Policies
Laissez Faire
1. Fordney McCumber Tariff - high protective tariff - high tax on imports - buy American goods first - as a result Europe does not buy American surplus
2.Margin Buying: government not regulating stock market - only have to put 10% down
- everybody bought stocks because they were cheap
-Stock Market starts to decline - CANNOT pay stockbrokers - because no money - only paper
3. Installment buying - a company that sells a good - only so much down pay over time - no government regulation - no way of recooping their loses - layoffs
4. Speculation- that the stocks are going to increase in value - buy when low sell when high
- dividend - sharing of profit - recieve a dividend once or twice a year depending - bought more stock - value of stock went down - nobody has money
economy
the condition of the buying and selling of goods and services
Describe Harding
He was more liberal. supported antilynching, helped farmers by giving money. Died in office and Coolidge, vice pres, assumed presidency.
women secure low-paying jobs while men are unemployed listening to demagogues; young men joined gangs
social repercussions
Albert Fall
first cabinet member to go to jail
How did Japan solve it's economic problems prior to WWII?
MIlitary industrialization
Black Thursday
October 24, 1929; almost 13 million shares sold that day alone
Oswald Spengler
..., In 1918 an obscure German high-school teacher named Oswald Spengler (1880-1936) published The Decline of the West, which quickly became an international sensation. According to Spengler, every culture experiences a life cycle of growth and decline. Western civilization, in Spengler's opinion, was in its old age, and death was approaching in the form of conquest by the yellow-race. (934)
Problems for farmers
due to overproduction farmers were destroying crops and resisting foreclosures, famrers were angry about lack of goverment support
The Cradle Will Rock!
-written by Barc Blitzstein
-dealt with unions and steel in the US
-the government shut it down and the actors performed from out in the audience
dust bowl
during 1931-1940s a grand amount of soil was blown out of central and southern Great Plains
Hoovervills
People lived in tents after they got their houses btaken away from the gov.
Recovery 2nd New Deal
Farm Security Administration.. Works Progress Administration.. National Youth Administration..
welfare state
a nation or government which assumes the primary responsibility for the well being and prosperity of its citizens
Dwight Morrow
Ambassador of Mexico - started Good Neighbor Policy - replace Dollar Diplomacy
Francis Townsend
California doctor who wanted a system of government pensions
Dawes Plan
A plan to revive the German economy, the United States loans Germany money which then can pay reparations to England and France, who can then pay back their loans from the U.S. This circular flow of money was a success.
Federal Writers Project
Gave work to 5,000 writers, created 1,000 publications. Oral histories of Americans (slavery)
What did FDR leave behind?
- Social Security
-Federal Deposit Insurance Corporation
-22nd Amendment
-Wagner Act
-Securities Exchange Commission
-Black vote turned to dem. party
-Big Government Spending
Great Depression
was a period of mass unemployment and low economic activity during the 1930's
Black Cabinet
first known as the Federal Council of Negro Affairs, an informal group of Black public policy advisors to F.D.R.
The Second New Deal
economic security. a guarantee that americans would be protected against unemployment and poverty. RESULTS: recovery and reform
Hawley-Smoot Tariff
Raised the average tariff rate to the highest level in American history.
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
Which new deal program was found unconstitutional?
AAA_agriculture administration adjustment
Federal Securities Act
Required that all stock exchanges had to be documented
stir
to get a group of people excited about something
Rates of unemployment
Australia - 29% of workforce
Germany - 6 mill
USA - 18 mill
"100 days"
1st 100 days FDR was in office which he introduced his new programs to help Am. recover
Civilian Conservation Corps
This was the most popular New Deal Reform, which provided government camps for about 3 million uniformed men, who might otherwise have been driven to crime. The men at htese camps preformed government jobs, such as reforestation, fire fighting, flood control, and swap drainage. The majority of thier paychecks were sent home to their families. Some complained that it was a militarizing of America's youth.
hawley smoot tariff
charged a high tax for imports thereby leading to less trade between America and foreign countries along with some economic retaliation
Kellogg-Briand Pact (1928)
"Pact of Paris" or "Treaty for the Renunciation of War," it made war illegal as a tool of national policy, allowing only defensive war. The Treaty was generally believed to be useless.
runs on the bank
-Everyone took out savings
-Took out loans to buy the nice things when times were good
- federal government had no regulations to protect peoples investments
Of Mice and Men
Two migrant workers and best friends find tragedy when one of them accidentally kills a woman
What was done to prevent dust bowls?
Soil conservation act, trees planted,
Federal Farm Bankruptcy Act (Frazier-Lemke Bankruptcy Act
Named for North Dakota's senator and representative that created the bill, it restricted the repossession of farms by banks. It was designed to help farmers survive the terrible economic climate with their farms intact
Herbert Hoover and The Great Depression
Passed the Smoot Hawley tarriff which destroyed americas trade, did not launch any national relief programs, thought that the gov't should not intervene, believed in laisez faire
Brother, Can You Spare me a Dime?
Hoover's campaign song. supposed to help people forget their troubles.
Emphasized the right of superior nations to lebensruam living space through expansion (Ayran race) (Anti - Semitism)
What were Hilter's main ideas in Mein Kampf
What was the impact od the new deal?
- it helped people through the depression
- it expanded the role of the federal governemnt by givning them more social resoponsiblities
- it increased the size of the national debt
What were 3 great movies made in the 1930's?
- Snow White and the Seven Dwarfs
- Gone With the Wind
- The Wizard of Oz
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