The Great Depression vocab Flashcards

Terms Definitions
credit
borrowing money
rural electrification administration
REA
Federal Housing Administration
FHA
Phenomenon
trends, catches on, surprising
fewer homes were ______
built
Bonus
an additional sum of money
Al Smith
founded American Liberty League
20th amendment
"lame-duck amendment" changed inaugural date to January 20
socialism
government owns just the major industries: transportation, communications,health care
Braintrust
FDR's cabinet members and other advisors - some were former Harvard Grads. -> Eleanore Roosevelt and Francis Perkins
Relief Programs
programs to help the needy.
barrio
a community in which mostly Spanish-speaking people live
Increased homelessness
_____ _____: Hoovervilles, shanties for the homeless.
When did the Great Depression start?
1929
Union Growth
Workers organizing together to have more rights about their jobs
May Fourth Movement
Resistance to Japanese encroachments in China began on this date in 1919; spawned movement of intellectuals aimed at transforming China into a liberal democracy; rejected Confucianism.
CCC
young men to work by building roads
Boulder Dam
world's tallest and second largest dam. In addition to providing electricity and flood control, the dam also provided a regular water supply, which enabled the growth of California's massive agricultural economy.
NRA "Blue Eagle"
National Recovery Administration, "The Blue Eagle" The NRA Blue Eagle was a symbol Hugh Johnson devised to generate enthusiasm for the NRA codes. Employers who accepted the provisions of NRA could display it in their windows. The symbol showed up everywhere, along with the NRA slogan "We Do Our Part."
How many bridges did the CCC build?
46,000
Eleanor Roosevelt
Theadore Roosevelt's Niece who marries FDR
Social Security Act
Insurance to old and disabled
The Great Crash
-1929
-lost incredible amounts of money, banks didnt have money, stocks were unsellable
-cash flow & investment interrupted
-people were taking money out of their banks
-banks were left with an immense amount of houses to sell in a bad market
Bull market
a market characterized by rising prices for securities
Penny auction
Farm auctions during at which farmer's saved each others property from foreclosure by bidding low
Dust Bowl
an area of the southern-central US that suffered from the dust storms in the 1930s.
National Recovery Administration (NRA)
Set codes of fair competition
Speculation
an investment that is very risky but could yield great profits
Bonus Army
army that turned many Americans firmly against President Hoover
deficit spending
practice of spending more than is taken in from taxes
roaring twenties
a phrase used to describe nickname because of the times presperity and excitement the 1920s, principally in North America finally the Wall Street Crash of 1929 served to punctuate the end of the era, as The Great Depression set in., nickname because of the times presperity and excitement
Franklin Delano Roosevelt
only American president elected more than two terms; forged a durable political coalition; started the New Deal
John Steinbeck
United States writer noted for his novels about agricultural workers (1902-1968) Ex: "Of Mice and Men" & "The Grapes Of Wrath"
Mary M. Bethune
educator who worked for opportunities for young African Americans
armistice
a state of peace agreed to between opponents so they can discuss peace terms
marketing told people to spend money and they became addicted to credit
overextension of credit
Migrant Worker
people who move from one region to another in search of work
Deficit Spending.
When a government spends more than it takes in and goes into debt.
Great Depression
the period of economic hard times that followed the stock crash; lasted from 1929 to 1941
causes of the Great Depression
Over production
Stock Market Crash
Poor Banking Management
black tuesday
october 29, 1929 when the stock market had crashed
Congress of Industrial Organizations [CIO]
union organization of unskilled workers; broke away from the American Federation of Labor (AFL) in 1935 and rejoined it in 1955
Poverty
The lack of adequate income to keep a minimum standard of living
Civilian Conservation Corps
New Deal program that hired unemployed men to work on natural conservation projects
National industrial recovery act
The _________ ________ ________ ____, or NIRA, set prices to ensure competition
fireside chats
informal talks given by FDR over the radio; sat by White House fireplace; gained the confidence of the people
Agricultural Adjustment Act (AAA)
government paid farmers to produce less, prices would increase
stock market crash, banks closing
buying on margin resulted in ...
CCC "Civilian Conservation Corps"
people 18-25 hired to plant trees, build roads, and work on flood control
What was the area from North Dakota to Texas that was hit the hardest?
Dust Bowl
Share Our Wealth Works Program
The program would empower the government to seize wealth from the rich through taxes and then provide a guaranteed minimum income and a home to every American family
Election of 32 and 36
Franklin Delanor Roosevelt won both elections
fair labor standards act
maximum work week 2 prohibit kids under sixteen from working in factories
Works Progress Administration (WPA)
Congress also authorided the ______ in 1935, which put $11 million on thousands of public buildings, bridges, and hard - surfaced roads and gave 9 million people jobs in its eight year existance.
National Labor Relations Board
acts as a mediator in labor disputes between unions and employers
informal group of intellectuals who helped devise new deal policies
which best decribes FDRs brain trust
NRA (National industrial recovery act)
set up codes for fair competition. maintained prices,minimum wages and maximum hours
Federal Deposit Insurance Corporation
It protected the peoples money in the banks if they were to crash; 4 day banking holiday
Causes of the Great Depression:
1. Tariffs & war debt policies cut down foreign market for American goods
2. A crisis in the farm sector
3. Availability of easy credit
4. Unequal distribution of income
emergency banking act
1st act by FDR . closed all banks in order t stop the panic and collapse of the national banking system
Social Security Act (SSA)
a 1935 law that set up a system of pensions for older people & set up the nation''s first system oof unemployment
What happened to people when the Great Depression hit the United States?
Many people lost their savings and their jobs.
millions of americans many of whom had never owned stocks
not long after black tuesday the stock market crash was affecting
New Deal
...
tariff
tax on imports
tariffs
taxes on imported goods
AAA
Agriculture Adjustment Act
Raising crop prices by lowering production
Reform:
FDIC; Federal Deposit Insurance Corporation.
Securities and Exchange Commission.
bank holidays
day off for banks
Grant wood
Famous painting american Gothic
TVA
Federal government build series of dams to prevent flooding and sell electricity. First public competition with private power industries.
SEC
Securities and Exchange Commission - created by securities Act of 1933 - controls and regulates stock market - new regulations help to inspire confidence among investors and this increases the ability of businesses to raise capital
capital
money raised for a business venture
PWA
(Public Works Agency) Built Schools, Ports, and Aircraft Carriers-- Recovery
Bear Market
When the stocks go down
Moley
assistant Sec. of St- later became critic
Surplus
what occurs when farmers produce more than they can sell
Orson Welles
American film director who caused widespread panic when he narrated War of the Worlds
Francis Townsend
American physician and social reformer whose plan for a government-sponsored old-age pension was a precursor of the Social Security Act of 1935.
Dividend
Money paid to stockholders when their stock earns a profit.
Glass-Steagall Act (1933)
established the Federal Deposit Insurance Corporation (FDIC) and included banking reforms, some of which were designed to control speculation.[citation needed] Some provisions such as Regulation Q that allowed the Federal Reserve to regulate interest rates in savings accounts were repealed by the Depository Institutions Deregulation and Monetary Control Act of 1980. Other provisions which prohibit a bank holding company from owning other financial companies were repealed in 1999 by the Gramm-Leach-Bliley Act
John Steinback
author of Of Mice And Men
Franenstien
Was a movie. He was a scientist
Civil Works Administration..
Created more jobs like roads
Sacco and Vanzetti
Two Italian-born anarchists, unfairly tried and convicted for the armed robbery and murder of two pay-clerks in Massachusetts in 1920.
Social Security
federal program of disability and retirement benefits that covers most working people
American Liberty League
Organization founded in 1934 in opposing the new deal (some people didn't want the new deal)
Alphabet Agencies
Government agencies that came to be known by the first initials of their names.
Immigration Act of 1924
Shut out Eastern Europeans, discrimination
Orson Wells
famous radio personality who read "war of the worlds"
*Eleanor Roosevelt
FDR's distant cousin and wife; niece of Theodore Roosevelt; became an influential advisor and political force on her own; encouraged FDR to continue in politics after his episode with polio; revolutionized the role of the political wife by taking a position involving no institutional duties and turning it into a base for independent action; worked behind the scenes with a wide network of women professionals and reformers; a strong supporter of protective labor legislation for women; convened a White House conference on the Emergency Needs of Women in 1933; helped find jobs for 100,000 women; worked vigorously for anti-lynching legislation, compulsory health insurance, and child labor reform; fought racial discrimination in New Deal relief programs.
open shope
a workplace where employees did not need to join a union
"Share-the-Wealth" program
The Share the Wealth society was founded in 1934 by Senator Huey Long of Louisiana. He called for the confiscation of all fortunes over $5 million and a 100% tax on annual incomes over $1 million. He was assassinated in 1935 and his successor Gerald K. Smith lacked the ability to be a strong head of the society.
Unsound Corporate Structure
2% of all American corporation obtained
50% of corporate profits
-large business combinations securily controlled over a market
-prices didn't go down right away -->creating an increasing gap b/w prices of goods & demand of goods
escaping the depression
movies, radio shows, comic books, literature, art
thrifty
As a result of the depression, people began to become more _______ and save more money
"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.
Hooverville
a neighborhood in which people live in shacks
Foreclosure
when a bank takes back a property and auctions it off to recover the unpaid loan amount
sit-down strike
workers stay in their work stations so that strikebreakers cannot replace them
*Temporary Emergency Relief Administration
created by Roosevelt when the Depression hit the state. (I googled it & everything but this is all I could come up with it's like no one knows what this was)
federal deposit insurance corporation FDIC
protected bank depositors guaranteed individual deposits up to $2,500
the new deal
roosevelt's plan and set of programs designed to fight the great depression provide relief for needy, economic recover, and financial reform
Federal Music Project
It employed 15000 musicians under the direction of Nicholas Sokoloff, the conductor of the Cleveland Symphony Orchestra. Government sponsored orchestra's were able to tour the country because of this.
"Bonus Army"
this is what the press termed the marchers as - in May 1932 when several hundred Portland, Oregon, Veterans set off on a month-long march to Washington to lobby Congress to pass the legislation and along the way other veterans kept joining and they numbered about 1,000 (they sang old songs and reminisced about army days
Huey P. Long
"Share our wealth", take more money from the wealthy
over speculation
buying stocks for more than what their worth
Huey Long
the "King Fish" proposed a nation wide social program called "share-our-wealth" Believer everyone would have a home and income this way.
October 29,1929
When did the stock market crash (black tuesday)
Margin-call
when a broker forces a buyer of stock who has bought on margin to pay more money or sell the stock because its value has dropped
William Jennings Bryan
Who was the prosecutor in the Scopes Trial?
Fair Labor Standard Act
Established a minimum wage and a maximum hour to prevent workers from being overworked and under paid. Made child labor illegal
Buying on margin
Paying a small percentage of a stock's price as down payment and owing the res
Trickle Down Eco
1. Eco gives tax breaks to the rich
2.invest in businesses
3.hire people
4.workers spend money
5.stimulate eco
National Association Of Securities Dealer Automated Quotations
computer operated system that provides dealers with price quotations for stocks and securities traded through the NASDAQ
effects of great depression
u.s. banks failed and that caused european economics to fail, people lost their jobs and homes, families split up to look for work, people set up shack villages called hoovervilles
The Grapes of Wrath
novel about the Oakies in the Dustball
Gone with the wind
story about the old south and written by margaret mitchell
Franklin D. Roosevelt
Was elected president of the US by an overwhelming democratic majority in 1932, introduced the New Deal, and led the US through most of WWII
Government involvement - How was government to blame?
1928 President hoover adhered to hand-off philosophy that business would take care of itself and economy would improve . . . he was wrong and the Great Depression happened.
A system in which the government takes on responsibility for the economic security of its people.
Define the term: Welfare State
Federal Deposit Insurance Corporation [FDIC]
To insure personal bank deposits up to $5000; required commercial banks to separate themselves from investment brokerages
From where did Hoover want Americans to get aid from?
Local charities and the states, the American Way
what happend with the farmers after the effects of the dust bowl?
they werent able pay off their mortages and they lost thier farms.
They were economically linked to USA ( As we prospered/failed so did they)
Why did other countries go into a depression after america did
Coughlin
too pro-business
Ingenuity
cleverness, inventiveness, resourcefulness
100 Days-banking holiday
r
recession
economic slump or downturn
Relief
aid for the needy
Hoover Stew
watered down (thin) soup
Conservatives
-too fast
-gov't becoming too large
-too much power
-involved in things that aren't gov't business
*"if you give people things you kill there work ethic"
17th Amendment
Direct election of senators
Prosperity Decade
1920's era of economic prosperity
Politburo
Executive committee of the Soviet Communist party; 20 members.
Liberals
believe in governmental regulation of the economy to look after the needs and opportunities of all individuals
Flappers
carefree young women with short, "bobbed" hair, heavy makeup, and short skirts. The flapper symbolized the new "liberated" woman of the 1920s. Many people saw the bold, boyish look and shocking behavior of flappers as a sign of changing morals. Though hardly typical of American women, the flapper image reinforced the idea that women now had more freedom.
Francis Perkins
*First female cabinet member, appointed by FDR
1st year
hogs, corn, wheat, cotton, rice, tobacco, and dairy
WPA
New Deal agency created to put American men and women to work on construction.
defict spending
using borrowed money to fund government programs
What did large banks establish?
National Credit corporation
Bank Holiday
banks were closed and examined (restore public confidence in banks)
Scopes Trial
teacher accused of teaching evolution in class, Darrow represented Scopes, Bryan tried to prosecute him
Hawley
Smoot Tariff-was an act signed into law on June 17, 1930, that raised U.S. tariffs on over 20,000 imported goods to record levels. The ensuing retaliatory tariffs by U.S. trading partners reduced American exports and imports by more than half and according to some views may have contributed to the severity of the Great Depression. The higest rates in history.
FERA
Granted federal funds to state and local agencies to help the unemployed
Business Cycle
economic pattern in which business goes through periods of prosperity and depression
Archduke Franz Ferdinand
Archduke of Austria Hungary assassinated by a Serbian in 1914. His murder was one of the causes of WW I.
Shantytown
a city district inhabited by people living in huts and shanties
Public Works Administration
PWA, created large-scale public works, such as dams and bridges, designed to help the community
Bank "Runs"
people worried about their money and would withdraw all their money from the bank causing banks to close; if you were not among the first to get your money, you lost your money due to the fact that it was not insured
public works projects
government funded PROJECTS to BUILD public resources
Dada
began in Paris after war. a 19th century art movement marked by destructiveness
Harold L. Ickes
he headed the Public Works Administration and was Secretary of the Interior. He was a former bull-moose and looked to achieve long-term recovery in supporting projects such as buildings, highways and parkways
National Recovery Administration
sought to bolster prices, federal codes, regulated wages. Restricted wage competition. Pleased businesses. Unconstitutional
Brain Trust
talented advisors who helped FDR form the New Deal
Stock Market
Investments one makes by risking there money in one corporation or business to make a profit. and experiences a long period of rising stock prices
FDIC
The reform part of the New Deal was carried out by which group?
What is Social Security?
Social Security is essentially a deposit that the government takes form your pay check and puts it towards your retirement so you have income when you retire
WPA/Work Progress Administration
designed to help Americans find work got $5 billion appropriation
home owner loan corporation
Designed to refinance mortgages on nonfarm homes, it ultimately assisted about a million badly pinched households.
Huey Long (Liberal)
As senator in 1932 of Washington preached his "Share Our Wealth" programs. It was a 100% tax on all annual incomes over $1 million and appropriation of all fortunes in excess of $5 million. With this money Long proposed to give every American family a comfortable income.
Kellogg-Briand peace pact
A treaty that attempted to outlaw war.The treaty was drafted by France and the United States, and on August 27, 1928, was signed by fifteen nations. By 1933 sixty-five nations had pledged to observe its provisions.
critiques of ND
increased gov. power, gov. spent more than it had, unions had too much power, gov. interfered too much in business, huey long said that rich should be taxed to help poor, some programs were unconstitutional
Bank "Holiday"
closing of banks for four days during the Great Depression
Reform
These were things we set up so that this wont happen to us again
F.Scott Fitzgerald, Ernest Heminway, Eugene O'Neill
American authors at the time.
(Civilian Conservation Corps) CCC
Males 18-25 sent money home by planting trees, developing parks, and building roads
effects of stock market crash
millionaires became bums, banks put peoples money in stocks
President Hoover actions
asked business to not lay off workers, or cut wages; asked local and state government by constructing roads and public building; he supported the Reconstruction Finance Corporation also known as RFC to lend money to banks and industries, however the depression continued
Civilian Conservation Corp [CCC]
provides jobs for young men whose families needed relief; plant trees; workers live in army like cmps & have to send most of money to families
Ku Klux Klan
founded in the 1860s in the south; meant to control newly freed slaves through threats and violence; other targets: Catholics, Jews, immigrants and others thought to be un-American
laissez faire capitlism
government should pay a little role in economic affairs
Three R's of Reform
1. Relief- help right away
2.Reform - no margin buying, protecting money, etc
3. Recovery-still in existence today
World Effects of the Great Depression:
-European countries were trying to recover from WWI and pay off their war debts
-Germany had to pay war reparations
-America's ability to import/export goods was limited
How did the dustbowl affect farmers?
Farmers couldnt grow antything and they lost their land and had to move
The Cradle Will Rock!
Show was locked out of its original theatre, banned by the government and finally became and act of free speech.
who is arkie and okie?
poor farmers in oklahoma and arkansas . they moved from one region to another
When the US limited production, what did they buy fewer of?
International goods such as coffee, oil, silk, rubber, etc.
One that settles on land without right or title or payment of rent
Explain what a squatter is?
What do banks "assume" about their depositors?
not everyone would claim deposits at once and they did
What kind of photography did Dorothea Lange take?
She took Black and white most famous for "Migrant Mother", Also took realistic and true to life photos of what was really happening
What was the Social Security Act?
a 1935 law that set up a system of pensions for older people and set up the nation's first system of unemployment insurance
RFC
.
Hoverville
town built for homeless people
Per Capita
the salary each person makes
Washington D.C.
Where veterans marched in 1932
Insurance
Financial protection on property or people against loss, theft, or death.
Describe the AAA
AAA- Agriculture Adjustment Administration- regulated farm production and promoted soil conservation
Hoovervilles
shantytowns on the outskirts of large cities.
Soap Operas
Became popular during the Great Depression. Women who were alone in the house during the day liked to listen to these on the radio. Soap companies generally sponsored these complicated stories of romance, intrigue, betrayal, that sometimes included subtle social and political messages.
21st Amendment
Amendment which ended the Prohibition of alcohol in the US, repealing the 18th amendment
Second New Deal
Jan 1935-Sept1935- Reorganized fed program for jobless relief. Assistance to rural poor,Supp for org labor, social welfare benefits for elder, stricker business reg, heavier taxes on wealthy.
TVA-TenN. Valley Auth.
dams provides jobs, hydroelectric power, fishing havens, flood secuirty, agric.
stock exchange
and organized system for buying and selling shares
Pearl Buck
United States author whose novels drew on her experiences as a missionary in China (1892-1973)
national debt
total sum of money a government owes
stock
Number of shares a person holds in a particular company
Workers were hired to work for federal works programs to build . . .
Government buildings.
Supply and demand
an economic concept that states that the price of a good rises and falls depending on how many people want it (demand) and depending on how much of the good is available (supply)
lame duck
person who finished his term in office when he lost reelection
Communist Party
tried to gain support during the great depression. It was a radical political party.
soup kitchen
place where food is provided to the needy at little or no charge
The Great Depression
a time period during the 1930s when there was a worldwide economic depression and mass unemployment
Hoover Flag
The empty turned out pocket of a very poor person
Define the term, "Great Depression".
the severe economic downturn that lasted from 1929 until the start of World War II
Going of the Gold Standard..
to create deflation and inflation of prices
Emergency Banking Relief Act
(FDR) 1933 , gave the President power over the banking system and set up a system by which banks would be reorganized or reopened., HUNDRED DAYS STARTS
National Credit Corporation
- set up by Hoover as an attempt to ease the money shortage
- created a pool of money to enable troubled banks to continue lending money in their communities
- Hoover concluded that the only way to provide funding for borrowers was for the gov to do the lending
What was the Civilian Conservation Corps (CCC)?
Provided jobs for young men to plant trees, build bridges and parks, and set up flood control projects.
People started to face increasing debt during the 1920's as they _?_.
began to buy items and goods on credit
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