1920s and The Great Depression Flashcards

Terms Definitions
Entertainment
...
PWA
Public Works Administration
Film companies
-mgm
-20th century
-paramount
bankrupt
unable to pay debts
Expansion
Increased business activity, unemployment rate falls, more bisiness produced, consumers spend more
FDR
Franklin Roosevelt- president during the Great Depression.
Huey Long
nationwide social program share-our-wealth
defaulted
failed to meet loan payments
Hoovervilles
Suburbs where people without homes would stay.
repatriate
sent back to your original country
reform
government would insure bank accounts government would change rules for investing in stock market to avoid future crashes
What agency did President Hoover create to combat the Great Depression?
RFC
Relief Program
programs to help the needy
public works
government financed building projects, problem- how does the goernment pay for them? raise taxes or borrow money
Socialists
becoming more popular. (aka, Communist Party of america)
Harlem Renaissance
a flowering of African American culture in the 1920s; instilled interest in African American culture and pride in being an African American
18th Amendment
Made it illegal to sell liquor
Who is sometimes called FDR's Conscience?
Eleanore Roosevelt
fireside chats
radio messages delivered directly by FDR
REA
this program supplied money to extend electricity to rural areas.
Black Tuesday
Brokers made margin calls and investors put their stocks up for sale at a frenzied pace. Stock prices took the steepest dive yet; stocks lost $10-$15 billion in value.
surplus
an extra amount, more than is needed
Great Depression
Worldwide depression in the early 1930s when prices and wages fell, business activity slowed and unemployment rose
Environmental Improvement Programs
focused on conservation while providing jobs. Examples of these jobs were planting trees and constructing dams
Bank Holiday
closed failing banks and dissolved them, reopened banks that could survive
Jonh Maynard Keyenes
British economist, pro government spending to encourage investment/consumerism, inluenced FDR
Ku Klux Klan
white supremacy group that used violence and intimidation especially against former slaves
1935 Social Security act
federal government would provide financial aid for . ..
elderly would receive a pension (monthly payment) when they retire (started at $200 a month)- during working years you contribute to it from you pay and you employer contributes to it too
Unemployed would receive payment for the 1st 6 months they weren't working (less than normal pay, had to be looking for a job)
Give a monthly check to families with handicapped or dependent children (under 18)
NOTE- farmers and self employed were not covered by this program
bread line
line of people waiting for food handouts from charities or public agencies
Red Army
Army organized by Leon Trostky during Russian Civil War
Hoover blanket
newspapers used by homeless people to keep warm
Little orphan Annie
The famous comic strip that entertained children during the Great Depression
Four-Power Treaty
The US, France, Great Britain, and japan agreed to respect one anothers territory in the pacific
Works Progress Administration
gave jobs to unemployed building public areas such as schools and parks, hired artists to paint murals and actors to put on plays
speculation
an investment that is very risky but could yield great profits
Fire side chats
FDR's comforting talks to America using the radio,(it's going to be ok)
laissez faire
idea that government should play as small a role as possible in economic affairs
relief
programs to help the needy during the Great Depression
bank run
persistent and heavy demands from a bank's depositors, creditors, or customers
Lusitania
A British passenger ship that was sunk by a German U-Boat on May 7, 1915. 128 Americans died. The sinking greatly turned American opinion against the Germans, helping the move towards entering the war.
the second new deal aimed to help
ordinary people
Bonus Army
a group of WWI veterans and their families who protested in Washington, demanding the payment of s pension bonus that had been promised
Migrant Worker
people who move from one region to another in search for work
Fair Labour Standards Act
1938 Established a minimum wage, maximum work week, and banned child labor
Causes of depression
stock market crash; many of them bought stock on credit( borrowed money they didn't have); the plan to pay back money to banks but when the crash happened more people owed more money than their stocks; credit problems hurt banks; they went bankrupt as well, customers of other banks took their money out of other banks; the bank didn't have the case to give them.
Federal deposit insurance corporation
a federally sponsored corporation that insures accounts in national banks and other qualified institutions. , An independent federal agency created by Glass-Steagall Reform Act. It insures up to $100,000 for bank deposits, thus helping put faith back into the banks.
Kellogg-Briand Pact (1928)
In 1928 fifteen counties signed the Kellogg-Briand Pact, initiated by French prime minister Aristide Briand and U.S. secretary of state Frank B. Kellogg. This multinational pact "condemned and renounced war as an instrument of national policy." These signing states agreed to settle international disputes peacefully. Often seen as idealistic nonsense because it made no provisions for action in case of war actually occurred, the pact was still a positive step. (942)
Commodity Credit Corporation (CCC)
A Federal organized and operated corporation that is responsible for ensuring that farm produce and other goods are readily available, that prices are stable, and that farms stay in business. It buys and sells produce, lends money and makes payment towards that effect.
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.
Fireside Chants
FDR used the power of radio to communicate with the American people in order to promote his programs.
sit-down strike
method of boy cotting work by sitting down at work and refusing to leave the establishment
Fordney-McCumber Tariff
This tariff rose the rates on imported goods in the hopes that domestic manufacturing would prosper. This prevented foreign trade, which hampered the economy since Europe could not pay its debts if it could not trade.
National Recovery Administration (NRA)
New Deal program begun in enforced codes that regulated wages, prices, and working conditions
Birth of a Nation
KKK sympathetic movie that helped the KKK to rise
to help fight despair
why did people use humorduring the depression
Federal Emergency Relief Act
The Act was the first direct-relief operation under the New Deal, and was headed by Harry L. Hopkins, a New York social worker who was one of Franklin D. Roosevelt's most influential advisers
Reconstruction Finance Corporation
RFC was an independant agency of the United States government. It granted over 2 billion dollars to the local and state governments. It was charted under the Herbert Hoover administration.
Fine Arts Section (FAS)
hired artists to create paintings in federal building sin the USA
FDIC, AAA, CCC
Alphabet soup helped the bank city and farmers
buying on margin
paying a small percentage of a stock's price as a down payment and borrowing the rest
Which of the following was NOT a baseball star of the 1930's? a. Satchel Paige, b. Lou Gehrig, c. Dizzy Dean, d. Korrel Kearney.
d. Korrel Kearney
Other Great Movies
Gone With the Wind; Wizard of Oz; Snow White and the Seven Dwarfs
The "Crash" or "Black Tuesday"
October 29,1929: The sudden drop in the value of stocks in the New York Stock Exchange caused by millions of shares being sold until there were no buyers left, leaving thousands of people penniless; marks the beggining of the Great Depression.
Of Mice and Men
A story about two friends trying to "make a stake" during the Depression.
National Labor Relations Board (NLRB)
created in 1935 to prevent unfair labor practices, such as coercion, the firing of employees who join unions, and the establishment of management-dominated unions
Works Progress Administration (WPA)
gave jobs to men who built or rebuilt airports, public building, bridges, and 500,000 miles of road
what happened to the rest of the world after the crash
thier economies fell too
Emergency Banking Relief Act (1933)
March 6, 1933 - FDR ordered a bank holiday. Many banks were failing because they had too little capital, made too many planning errors, and had poor management. The Emergency Banking Relief Act provided for government inspection, which restored public confidence in the banks.
roosevelt quote from inaugural address
the only thing we have to fear is fear itself
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