The Great Depression and The New Deal 1930s Flashcards

Terms Definitions
AAA
Agricultural Adjustment Administration: attempted to regulate agricultural production through farm subsidies; ruled unconstitutional in 1936; disbanded after World War II
NRA
National Recovery Administration: established and adminstered a system of industrial codes to control production, prices, labor relations, and trade practices
Fireside Chats
radio talks with FDR
First New Deal
president franklin roosevelt's precursor of the modern welfare state (1933-1939); programs to combat economic depression enacted a number of social insureance measures and used government spending to stimulate the economy; increased power of the state and the state's intervention in u.s. social and economic life.
REA
made electricity available at low rates to American farm families in areas that private power companies refused to service
unemployment
the number of workers without jobs
EPIC
1934 "End Poverty In California", California farms and factories would be put under state control, proposed by Upton Sinclair.
American Liberty League
a conservative anti-New Deal organization; members included Alfred Smith, John W. Davis, and the Du Pont family. It criticized the "dictatorial" policies of Roosevelt and what it perceived to be his attacks on the free enterprise system.
TVA "Yardstick"
The Tennessee Valley Authority, among other things, was designed to provide a standard of measurement, whereby the efficiency--and thus the rates--of private power companies could be tested for fairness.
Federal Securities Act
Required corporations to provide complete information on all stock offerings and made them liable for misrepresentations
Schechter case
The Supreme Court decision that declared that Congress could not "delegate legislative power" and that congressional control of interstate commerce could not properly apply to a local fowl business.
Hatch Act
1939. Remedy faults of "free" elections. No government money for politics. Barred federal administration. Extended in 1940 to put limits on contributions and expenses. Found loopholes make it ultimately ineffective.
Hooverville
nickname for the shantytowns and shack communities that sprang up around most major American cities in the early 1930s
Hoovervilles
shanty-towns that housed many who had lost everything. Shelters were built of old boxes and other discards.
Agricultural marketing act
established the first major government program to help farmers maintain crop prices with a federally sponsored farm board that would make loans to national marking cooperatives or set up corporations to buy surpluses and raise prices. this act failed to help american farmers.
john steinbeck
United States writer noted for his novels about agricultural workers1902-1968) wrote the grapes of wrath
Social Security
An act passed in 1935 gave government-payed pensions to American citizens over the age 65 as well as provided help for the unemployed, the disabled, and the needy.
breadlines
similar to soup kitchens gave food to homeless
Public Works Administration
Administration that intended for the both for industrial recovery and for unemployment relief. It was created under the National Industrial Recovery Act.
"Brain Trust"
Group of expert policy advisers who worked with FDR in the 1930s to end the great depression
Congress of Industrial Organizations
Union organization of unskilled workers; broke away from the American Federation of Labor in 1935 and rejoined it in 1955
Election of 1932
the Republican nominee Herbert Hoover and the Democratic nominee Franklin D. Roosevelt. The Republican platform included higher tariffs, keeping the gold standard, and continuation of Hoover policies. The Democratic platform included the repeal of prohibition, a 25% cut in government spending, unemployment aid, and a "new deal" for America. Roosevelt won with 472 electoral votes and all but 6 states. His victory paved the way for his "New Deal' policies and optimism in the country "nothing to fear but fear itself (Inauguration speech)."
Second New Deal
directed towards economic and social reforms
From 1929 to 1933 employment went from...
3% to 25%
john collier
Head of the Bureau of Indian Affairs who introduced the Indian New Deal and pushed congress to pass Indian Reorganization Act
Buying on Margin
purchasing stocks by borrowing part of the price from stockbrokers
margin call
Demand by a broker that investors pay back loans made for stocks purchased on margin.
minimum wage
lowest amount that a person could make per hour
Dr. Francis Townsend
California physician who lost all his savings. Proposed a system that preluded social security, supported by 5 million "seniors." People over 60 should receive $200/month from government.
Securities && Exchange Commission..
Regulated the Stock Market.. Federal Watch-Dog Agency && Enforced Federal Laws..
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
stock market
A system for buying and selling shares of companies
Agriculture Adjustment Act (AAA)
sought to end overproduction and raise crop prices
Hawley-Smoot Tariff
It was a tariff passed in 1930 that was designed to assist farmers. Unfortunately as it worked its way through the government it acquired about 1,000 amendments, causing it to become of the highest protective tariffs in peacetime history. It ticked off foreigners and appeared as economic warfare. It furthered the depression and through America ever deeper into its economic isolationism
2nd New Deal
2nd wave of legislative acts came when conservative Supreme Court vetoed many of the ones from the 1st wave.
Tennessee Valley Authority (TVA)
(1) FDR's New Deal agency that established power plants, oversaw conservation, and pumped money into a poor, undeveloped region of the Appalachians; (2) it completed many major projects and revitalized the region, but faced criticism from environmentalists and conservatives who feared what looked like Soviet-style central government planning
National Labor Relations Board
enforced provisions of the Wagner Act that listed unfair labor practices.
Federal Deposit Insurance Corporation
It insured bank deposits up to five thousand dollars.
GM sit-down strike
CIO labor action led by John Lewis in 1936 that forced the auto industry to recognize unions
The rapid cutback in federal "pump-priming" spending in 1937
caused a sharp "Roosevelt Depression" that brought unemployment back up to catastrophic levels
Possibly Causes of The Great Depression :
-wages didn't rise w/ high living cost
-oligopies kept prices very high
-international economic difficulties (decline in foreign trade)
-decrease in government spending
-Monetary Policy of the Federal Reserve
AAA: Agricultural adjustment Act of 1938
Pretty much does the same thing as the AAA 1933 but funding was from a general tax and introduces price supports (parity)...farmers stored their crops until the prices for those crops reached parity.
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