The Great Depression Vocabulary Flashcards

Terms Definitions
capital
money
#3
misuse of credit
crop prices decreased
cause
AAA
recovery- Agricultural Adjustment Administration- paid farmers NOT to grow certain crops
Gleen miller
Band leader, jazz
anti-Semitism
prejudice against the Jewish people
*Huey Long
Louisiana backcountry orator-posed great potential threat to FDR leadership- organized Share our Wealth Society- "Every Man a King " slogan- could have won presidency against FDR but was assassinated in 1935 by a disgruntled political enemy
Default
Failed to meet loan payments
New Deal
FDR's (President Franklin D. Roosevelt) releave reform programs designed to end the depression
What did state government and charities lacking in?
Resources
Who was Huey Long?
FDR's biggest critic
cooperative
a jointly owned commercial enterprise (usually organized by farmers or consumers) that produces and distributes goods and services and is run for the benefit of its owners
Shantytown
Unplanned slum development on the margins of cities, dominated by crude dwellings and shelters made mostly of scrap wood, iron, and even pieces of cardboard.
collective bargaining
negotiation between a company management and a union representing a group of workers about wages, benefits and working conditions
insider trading
someone buys/sells stock using information that no one else has
impeachment
the process of bringing charges of wrongdoing against a public official
second new deal (1935)
SSA, Wagner act, WPA
Hoovervilles
the shanty towns made of boxes belonging to people who had lost their job; named because of Hoover's failure to act
Factory weakness
factories are producing more goods than goods they could sell; owners laid off workers
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
welfare capitalism
situation in which companies allowed employees to buy stock, take part in profit sharing, and receive benefits
Trickle Down
Economic theory, according to big business, has financial benefits that are passed down from the wealthy businesses to small businesses.
Glass-Steagall Act
measure that provided FDIC insurance on deposits up to 5,000 dollars
International Style
style of architecture that included uninterrupted expanses of steel and glass
unemployment rate
current rate of unemployment, higher for African Americans and Latinos
Penny Auction
Farm auctions during the Great Depression at which neighbors saved each other's property from foreclosure by bidding low.
The TVA provided _______ for rural areas.
electricity
reform
correction of errors so we don't fall into another depression.
bread lines
Across America, people waited in _____ for hot soups and some old dried bread.
public works
projects built by the government for public use
FDR created the blank: social and economic programs that were designed to pull the U.S. out of the depression by providing jobs to the public.
new deal
Speculation
Risky buying and selling of stocks in the hope of making a quick profit
Federal Securities Act/ SEC
required corporations to provide complete information on all stock offerings and made them liable for any misrepresentations. Congress created the securities and exchange commission to regulate the stock market. One goal of this commission was to prevent people with inside information about companies from "rigging" the stock market for their own profit.
Henry Ford
perfected the assembly line by mass producing he Model-T and selling it for cheap prices everyone could afford
Eleanor Roosevelt
was a tireless partner in Franklin's public and political life.
Brain Trust
Group of expert policy advisers, and intellecutuals who worked with FDR in the 1930s to end the great depression
Breadlines
People went to these when they lost their jobs and when it came hard to buy things.
Uneven Wealth
Very few (1%) people are extremely wealthy
Lots of people (65%) are in poverty
Black Tuesday
Tuesday October 29 Prices plunged in the NYC Stock Exchange. People who thought they owned valuable stocks were left with worthless paper.
New Deal Legislation
X
1933-1939; expanded the role of governmetn in the economy and society; created entities like Social Security, the Securities and Exchange Commission, and Tennessee Valley Authority
the glass
All laws that were passed during the new deal
fireside chat
radio speeches given by FDR while he was President
The New Deal
Relief - instant help for the people
Reform - changes so that there are no repeats (safety nets)
Recover - get economy moving again
Francis Townsend
A California doctor who created a loan giving everyone over the age of 60 a pension of $200 a month
Herburt Huever
president at the beging of the great depression. He was accused of doing nothing for the people.
blank: provided relief to farmers by attempting to drive up farm prices. The government paid farmers to destroy crops and livestock. (fdr)
Agriculture Adjustment Administration
federal deposit insurance corporation
a federally sponsored corporation that insures accounts in national banks and other qualified institutions
direct relief
money or food given directly from the gov. to the needy
migrant worker
moving from place to place to harvest fruits and vegetables
Emergency banking Act
Act that closes banks, and then reopens only good banks
Civilian Conservation corps
they took single men (18-25) out to the woods where they planted trees,got trash out of lakes and rivers, they also lived in tents
Where was the Dust Bowl
Primarly in Oklahoma but stretched into parts of TX, KS, MO, and NE
insured each bank deposit
The federal deposit insurance corp did this
Huey "Kingfish" Long
Share- Our Wealth- take all the money from the rich through taxes and give every American a minimum income and a home
social security act
act that provided for a pension to those over 65
Buying on Margin
Paying a small amount of stock while borrowing the rest from the bank
Income tax policies
shifted burden of taxation to middle & lower income people & decreased taxes of wealthy
=>consumers had less money to spend
Tennesse Valley Authority
The govt. took over large areas of land to stop floods. They built a dam to create electricity and gace cheap electricity to rural people and businesses (Recovery)
The Great Depression
a time period during the 1930s when there was a worldwide economic depression and mass unemployment
Orson Welles/War of the Worlds
Welle's broadcast of his play about alien invasion that was broadcasted via radio on Halloween as entertainment. Millions of people at the time did not realize the broadcast was fiction and went into a panic.
National Industrial Recovery Act (NIRA)
Provided money to states to create jobs chiefly in the construction of and other community buildings.
Hawley Smoot Tariff Act
LAW THAT RAISED TAXES ON IMPORTS AND WORSENED THE DEPRESSION
During the twenties American's were generally
confident that business would bring continued prosperity
National Labor Relations Act
1935 New Deal law, also known as the Wagner Act (NY senator: Robert Wagner), that guarantees workers the right of collective bargaining, sets down rules to protect unions and organizations, and created the National Labor Relations Board to regulate labor-management relations.
Black Thursday & Tuesday
October 29, 1929 prices hit a new low in stock markets= crash in stock market
Wat were some general causes of the Great Depression?
Over production, over borrowing, over speculation, unequal distribution of wealth, problems in the world economy
What was the significane of the Bank of England in regards to the GD?
Bank of England=major lender in the Atlantic industrial community
-had a dramatic interest rate --->getting a loan was harder
Pauperize
to make poor
prosperity
success; good fortune
Prosperous
successful; rich; affluent; well-to-do; well-off
bull market
rising stock market
Harold Ickes
FDR's Secretary of Interior
FDR
1. NEW DEAL
2. Bank Holiday:
Recovery
(Second Step) The government encourages businesses and farms to start up again.
CCC
Civilian Conservation Corps. It was Relief that provided work for young men 18-25 years old in food control, planting, flood work, etc.
bankruptcy
financial failure caused by an inability to pay one's debts
Nativism
a policy of favoring native-born individuals over foreign-born ones
hobos
open-road wanderers who traveled the country by walking, hitchhiking or "riding the rails."
Marcus Garvey
Incredibly popular and influential black leader
Wizard of Oz
most famous film (Judy Garland)
Fireside Chats
Informal radio broadcasts from the White House.
deficit spending
government practice of spending more than it takes in from taxes, FDR agreed to this policy
Wagner Act
kept businesses from using unfair business practices
Five Power Treaty
Four Power Treaty plus Italy
Shanty towns
Unplanned slum development on the margins of cities, dominated by crude dwellings and shelters made mostly of scrap wood, iron, and even pieces of cardboard.
Zora Neal Hurston
1891-1960. American folklorist. Author of 1937 novel "Their Eyes Were Watching God". Associated with Harlem Renaissance.
dust bowl
a region subject to dust storms
Margin
Buying of stock by paying only a fraction of the stock price and borrowing the rest.
Dow Jones
Most widely used barometer of the stock market's health
Herbert Hoover
He was an accomplished public servant to run for the White House. He served as Secretary of Commerce and became President of the United States in March 1929.
harry daughtry
atorney general who accepted bribes in orgder to allow the sale of a german company seized by the U.S. government during WWI
Bank Holiday (1933
in 1933 President Roosevelt officially signed a Proclamation declaring this . All the banks in the nation were closed. The Bank Holiday was to go from March 6, Monday, to Thursday. No bank could transact any banking business except by permission of the Secretary of the Treasury
Dow Jones Index
The Dow Jones Industrial Average (DIJA), is the oldest market measure (since 1896). The DIJA is computed from 30 leading stocks (blue-chip stocks) to represent different industries. The DIJA is calculated using a divisor to accurately reflect when stock splits occur S&P 500 is an index and not an average, and each stock's importance is based on relative market value and not stock price. S&P 500 accounts for 75% of the U.S. Stock Market's value and is comprised of 500 of the top companies on the stock market.
Father Charles Coughlin
tax the rich, nationalize banks, national union of social justice
reconstruction finance corporation
-authorized $2 billion for emergency financing for banks, life insurance companies, railroads, and other larger businesses
-hoover thought the money would tricked down to the poor, but he was WRONG
Radio
What turned out to be an important factor in the campaign, and Hoover's personality sparkled on this new medium( compaired to smith who sounded stupid and boyish
William Faulkner
Won the Novel prize for literature, Wrote Sound and the Fury which shows what his characters are thinking and feeling before they speak. using this stream of consciousness technique, he expostes hidden attitudes of Southern whites and African Americans in fictional Mississppi County.
19th Amendment
passed in 1919, this gave women the right to vote
WPA Works Progress Administration
Provided long term government jobs building school, post offices. also employed artists, photographers, writers, composers, and actors
NRA/National Recovery Administration
encourages business to draw up fair codes of competition
Bonus Army
WWI vets who went to Washington for their bonus; resulted in 4 deaths
Francis Perkins
was the U.S. Secretary of Labor from 1933 to 1945, and the first woman ever appointed to the US Cabinet. As a loyal supporter of her friend Franklin D. Roosevelt, she helped pull the labor movement into the New Deal coalition. She and Interior Secretary Harold Ickes were the only original members of Roosevelt's cabinet who remained in offices for his entire Presidency
Quota System
an arrangement placing a limit on the number of immigrants from each country
Franklin Delano Roosevelt
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. He is the only president to have been elected 4 times, a feat no longer permissible due to the 22nd Amendment to the Constitution.
3 groups helped by social security act
elderly, handicapped, unemployed
Banking Relief Act
was an act of the United States Congress spearheaded by President Franklin D. Roosevelt during the Great Depression. It was passed on March 9, 1933. The act allowed a plan that would close down insolvent banks and reorganize and reopen those banks strong enough to survive
"bank holiday"
FDR closed bans for 8 days to examine them and restore those that could stay open
3 years after crash
an average of 100,000 people lost their jobs every week. Even people had to accept pay cuts.
Works Progress Administration (WPA)
Headed by Harry Hopkins, a former chief of the Federal Emergency Relief Administration. Set out to create as many jobs as possible, as quickly as possible. Between 1935 and 1943 it spent $11 BIllion to give jobs to over 8 million people, most of them unskilled.
Agricultural Adjustment Administration [AAA]
"parity prices" (price set for a product that gave it the same real value) for basic commodities ;; eliminated surpluses by paying growers to reduce crop acreage
Red Scare
two periods of time, in the 1920s and 1950s, in which Americans feared the growth of communism. These suspicions led to tests of the civil liberties of people under the Constitution.
Every Man a King!
Huey Long's political slogan, title of his autobiography, catchphrase of Share-the-Wealth program
Frank B. Kellogg
Secretary of State - for Coolidge and Hoover - Kellogg Braind Treaty
Buying on the Margin
Paying a small percentage of a stock's price as a down payment and borrowing the rest
What was the Hindenburg?
The zepelin that exploded in 1937 that was filled w/ hydrogen
National Labor Relations [Wagner] Act (1935)
defined unfair labor practices and protected unions against coercive measures such as blacklisting. Set up the National Labor Relations Board and reasserted the right of labor to engage in self-organization and to bargain collectively.
wwhat was the most immediate goal for new deal?
provide work for unemployed
Who was Huey Long, and where from?
(Kingfish) US Senator and former governor from Louisiana
We had a crash in our classroom
What happeneed on Tuesday after Christmas break?
What story did Steinbeck tell in "The Grapes of Wrath?"
dust bowl victims moving to Cali
How was Elenor different beteween other first ladies previously to her?
She went into the face of the public, she drove a car, and she wrothe letters to the public to offer help to them
Why did the suicide rates of men spike upwards during the Great Depression Era?
Since women didn't usually work at that time, all the pressure was on them to provide for their family and when they couldn't, they committed suicide.
Relief Programs
...
WPA
Works Progress Administration
NIRA
National Industrial Recovery Act
NRA
National Recovery Administration: established and adminstered a system of industrial codes to control production, prices, labor relations, and trade practices
Whites
Anti-Communist forces during the Russian Civil War
business owners
many lost their businesses.
spawn
to produce in large numbers
Bank Holiday
Stop the run on banks.
J. Edgar hoover
director of the F.B.I.
Hawley-Smoot Tariff
highest tariff in US history
Social Security
established principle of fedural responsibilities for welfare of the people
Crops
Plants or produce that is grown.
wealth
was not distributed evenly among Americans
Boondoggling
creation of make-work tasks such as leaf-raking during the Great Depression
Popular Front
A wide coalition of anti-fascist groups on the left, most notably the American Communist Party.
___________ - economy plummets, unemployment skyrockets and lasts from 1929 - 1940
The Great Depression
Okies
the farmers, who in the Great Depression, were forced to move, many moved to Oklahoma
farm credit administration
agency that provided low-interest, long term loans to farmers
public worrks
projects such as highways and parks
Snow White
A movie that Walt Disney made
George Creel
Headed the Committee on Public Information, for promoting the war effort in WWI
tragic flaw
describes a character defect that leads to their downfall
stock
the shares of a particular company or business
When did the bonus army protest?
Summer of 1932
Reasons for depression
1. Black Thursday
2. Margin Buying and low interest rates
3. Easy Credit
4. Global Depression
5. Unequal Distribution of Wealth
Bank Run
Distrust in bank, the concerted action of depositors who try to withdraw their money from a bank because the think it will fail
Franklin Roosevelt
presented the American people with a New Deal to solve the problems of the Great Depression
Agricultural Adjustment Act
New Deal program: Government pays farmers to stop overproduction of crops.
foreclosure
when a lender takes over ownership of a property from an owner who has failed to make loan payments
Judiciary Reorganization Bill (1937)
frequently called the court-packing plan,[2] was a legislative initiative proposed by U.S. President Franklin Roosevelt to add more justices to the U.S. Supreme Court. Roosevelt's purpose was to obtain favorable rulings regarding New Deal legislation that had been previously ruled unconstitutional.[3] The central and most controversial provision of the bill would have granted the President power to appoint an additional Justice to the U.S. Supreme Court, up to a maximum of six, for every sitting member over the age of 70½.
pension
a sum paid regularly to a person, usually after retirment
Effects of Great Depression
*People unemployed, left homeless, moved from place to place
"Rugged Individualism"
The belief that all individuals, or nearly all individuals, can succeed on their own and that government help for people should be minimal. Popularly said by Hertbert Hoover.
Groups of shacks built on the edges of cities during the early part of the Great Depression were known as what?
Hoovervilles
works progress administration
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.
"Black Thursday"
October 24, a day that traders sold almost 13 million shares
What were people who bought on credit left with?
Huge debts
Huey Long
A senator from Louisiana who felt that FDR did not do enough to help the poor.
five-power naval limitation treaty
proposed a 10-year moratorium, or pause, on the building of major new warships, and a list of warships for each country to destroy
Alfred E. Smith
first Catholic to ever be candidate for President
Hawley-Snoot 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.
Bennett's new deal
An economic reform program designed to solve the problems of the Great Depression. Government intervention, including fairer tax systems, UI, workplace reforms, old age pensions and support for farmers
Hawley-Smoot Tariff (1930)
highest import tax in history in attempt to protect domestic industries from foreign imports
Trickle Down Economics
govt gives tax breaks to company owners, who in turn give workers larger wages; INEFFECTIVE
Tennessee Valley Authority
headed by gov rather than private businesscreated to supply electric power at reasonable rates, show that even poorest regions of America could recover from depression
 Federal government built dams and waterways, eliminating disastrous flooding and harnessing water per-produce electricity
 Encouraged farms adopt better farming techniques, did improve lives of thousands of people
Public Work Administration
led by secretary of the interior Harold Ickes, authorized $33 billion for constrction of railroad, public buildings, and other projects.
Sig. The goal for this was to provide employment and stimulate the economy through increased consumer
Okies and Arkies
victims of the Dust Bowl who headed for California
Mortgage
a loan of money which you get from a bank
Election of 1936
FDR defeats Alfred M. Landon in a reelection landslide
Emergency Banking Relief Act
gave president power to open sound banks after ten days and liquidate unsound ones.
National Labor Relations Board [NLRB]
Created to insure fairness in labor-managment relations and the mediate employers' desputes with unions.
hawley-smoot tariff act
1930, passed by the U.S. congress; it brought the U.S tariff to the highest protective level yet in the history of the United States
The 100 days
Re opened all banks which responded to the bank holiday
Liquidity Crisis
a state in which there is a short supply of cash to lend to businesses and consumers and interest rates are high during this a firm is can become unable to pay its liabilities as they become due because assets cannot be converted into cash within a reasonable period of time, or assets begin to earn lesser values than what initially purchased at (because too many people are liquifying their assets, this drives market prices of things way down)
in 1929 the countrys federal bank saw the stock rising and they tried to curve it by taking money out of circulation and when the market crashed their was very little money in the country
CCC Civilian Conservation Corps.
Employed single men ages 18-25 to work in construction (parks, forests, wilderness, and countryside planting tress
margin buying
paying part of the cost of a stock and borrowing the rest from brokers
Brother, Can You Spare a Dime?
Song about the great depression. Showed how even the wealthy and educated can lose everything they have.
stock prices dropped
lack of new investors
margin calls went out
what happened in late 1929
Securities and Exchange Commission
set up in 1934 to regulate the stock market and to prevent abuses by sellers of stocks and bonds
What happened when the stock market crashed?
People began to withdraw from the banks.
How did the depression affect working women?
it didnt, they all had their jobs still
It greatly expanded the role of the federal government in American life.
What was the 2nd major effect of the New Deal?
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