Great Depression Flashcards

Terms Definitions
leased
rented
deflation
prices are falling
Liberty League
too anti-business
Clarence Darrow
lawyer for Scopes
Migrated
to move somewhere else.
protective tariffs raised prices _____________________
unnaturally
Recovery Programs
CCC, TVA, PWA, CWA
CCC
Civilian Conservation Corps (1933)- Relief- Young men between the ages of 18 and 25 volunteered to be placed in camps to work on regional environmental projects, mainly west of the Mississippi; they received $30 a month, of which $25 was sent home.
relief programs
programs to help the needy
John Collier
Had of U.S Indian affairs.
Hooverville
A town built for homeless people
Wagner Act
1935; established National Labor Relations Board; protected the rights of most workers in the private sector to organize labor unions, to engage in collective bargaining, and to take part in strikes and other forms of concerted activity in support of their demands.
Shantytowns
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.
Relief 2nd New Deals
Farm Security Administration
John Stienbeck
Author, The Grapes o fWarth.
Huey Long
"Share Our Wealth". Tax the rich.
Black tuesday
Money was lost overnight, prices dropped, no buyers, warned that something was going wrong
The Black Cabinet
unofficial black advisers to FDR
blank: provided retirement pensions to the elderly, unemployment insurance, AFDC(welfare), and money for the handicapped. FDR
Social Security
Agricultural Adjustment Administration
attempted to regulate agricultural production through farm subsidies; reworked after the Supreme Court ruled its key provisions unconstitutional in 1936; coordinated agricultrual production during WWII, after which it was disbanded
public works
structures (such as highways or schools or bridges or docks) constructed at government expense for public use
affected by Depression
children, families, business owners, farmers, home owners, workers.
NLRB
Allowed workers to join unions and outlawed union-busting tactics by management
buying on margin
borrowing money to buy stocks
direct relief
_______ _______--cash payments or food provided by the government for the poor
republician candidate herbert hoover againest democrat..
alfred e smith
FDR
Roosevelt, the President of the United States during the Depression and WWII. He instituted the New Deal. Served from 1933 to 1945, he was the only president in U.S. history to be elected to four terms
Herbert Hoover
tried to reassure Americans that the nation's economy was on sound footing.
Dust bowl
region in the central great plains that was hit by a severe drought during the 1930's
sitdown strike
work stoppage in which workers refuse to leave a factory
John Maynard Keynes
English economist. He laid the foundations of modern macroeconomics with The General Theory of Employment, Interest, and Money.
Stock market crash - Bankers and businesses tried to put money back into the market but it was blank.
too late
Tennessee Valley Authority
Federally owned corporation in the United States created by congressional charter in May 1933 to provide: navigation, flood control, electricity generation, fertilizer manufacturing, and economic development in the Tennessee Valley
Bank Holiday
FDR stops the Run on the Banks
Soap Operas
shows that were nicknamed this because they were often sponsored by makers of laundry soaps
bull market
a long period of rising stock prices
NIRA
Created NRA to enforce codes of fair competition, minimum wages and to permit collective bargaining of workers
Eighteenth Amendment
banned the sale of alcohol in 1919
unemployment insurance
payments to people that lost their jobs
lost generation
suffered from death and destruction of WWI
Global Depression
post wwi war debt, globle consiquences of the stock market crash, holly shmoot terriff. it stagnated international trade.
American Federation of Labor(AFL)
Wm Green Skill Crafts (Electrician, Teamster, Carpenter)
Emotional health during the depression:
-Demoralized by hard times
-Suicide rate went up by 3%
-3 times as many people were admitted too state mental hospitals
Works Progress Administration
Employed men and women to build hospitals, schools, parks and airports.
Alfred M. Landon
the Republican candidate in 1936. This honest and wealthy man from Kansas lost greatly to the Democrat Franklin Roosevelt. He had stressed balancing the budget.
New Deal Coalition
Coalition formed by the Democrats who dominated American politics from the 1930's to the 1960's. Its basic elements were the urban working class, ethnic groups, Catholics and Jews, the poor, Southerners, African Americans, and intellectuals. Elected FDR.
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
11.Dust Bowl
Name given to the area of southern Great Plains severely damaged by droughts and dust storms during the 1930s
Boulder dam
dam on the colorado river built during the depression to create jobs
General John J. Pershing
General of the American Expeditionary Force in WWI
fdr's wifes name?
elonor. after fdr died she still stayed in the white house and harry trumen made her delegate of the united nations.
Gross National Product
the total value of goods and services a country produces annually
National Housing Act
June 28, 1934- It created the Federal Housing Administration (FHA) and the Federal Savings and Loan Insurance Corporation. It was designed to stop the tide of bank foreclosures on family homes.
What were 5 alphabet agencies?
- CCC
- AAA
- FDIC
- WPA
- SSA
Hawley-Smoot Tariff Act
law that raised taxes on imports and worsened the depression
Wagner Act or National Labor Relations Act
prohibited bad work conditions
Banks and businesses
A large number of these failed after the stock market crashed
Three presidents during this time
Warren Harding, Calvin Coolidge, and Herbert Hoover
Alfred E. Smith
Governor of New York who ran as a Democrat for the 1928 elections
Franklin D. Roosevelt
32nd US President - He began New Deal programs to help the nation out of the Great Depression, and he was the nation's leader during most of WWII
uneven distribution of income
5% of families controlled 33% of the nations money, 50% of families earned less then 1500/year could not support them self.
Social Security Act
It set up a form of insurance where employers and workers would pay the tax to cover unemployment benefits, old age pensions, programs for the blind, and for children of workers who had died. Domestic and farm workers had been left out of the bill that created the agency.
investors raised their money to get out of the stock market
When Dow Jones Industrial Average began to drop sharplyin late october 1929....
the national credit corporation
what was a pool of money to rescue banks
what was the Bank Holiday?
closing of banks for 4 days during the Great Depression
TVA ( Tennessee valley Authority )
built a series of dams in 7 states along the Tennessee river and its tributaries provided jobs,electricity and flood control
How did the Great Depression lead to a worldwide depression?
When the US wasn't in a good economic position they asked the European nations (to whom they had loaned money to during WWI) to pay it back. This caused the European banks to fail and therefore leading to a worldwide depression.
effects
unemployment
21st Amendment
repealed prohibition
WPA
Works Progress Administration......established large-scale national works programs to create jobs
NRA
recovery- National recovery Administration- enforced rules that set wages and prices
Snapshorts
pics in the 1930's
FDIC
government insured bank savings accounts
Pension
Payment for older, retired people.
President Roosevelt
expanded government, hundred days, fixed banks, relief programs, New Deals
last hired, first fired
minorities were the....
Federal Reserve System
the nation's central bank
Bonus Arm
The self-named Bonus Expeditionary Force was an assemblage of some 43,000 marchers—17,000 World War I veterans, their families, and affiliated groups—who protested in Washington, D.C., in spring and summer of 1932.
bankruptcy
financial failure caused by an inability to pay one's debts
infrastructure
transportation network that allows the movement of people/goods/services
Hoover's plan
belief that the individual was responsible not the government
Dr. Francis Townsend
Townsend plan, old age pension
Public Works Projects
-highways,dams, and other construction projects financed by public funds and carried out by the goverment
Durable Goods
Goods that are meant to last.
New Deal
The name given to President Roosevelt's programs for getting the United States out of the depression
Ch'i Pai-Shin
praised traditional chinese art; the last great painter of the older school of chinese art
Public Works Program
Provided funds for construction projects such as roads, dams, bridges, and warships. It helped businesses put people to work so that they had money to spend.
What major factor contributed to the Great Depression?
overproduction
relief
easing of burden; jobs that pay just enough to buy food and pay the rent.
Grant Wood
Painted American Gothic, one of the most famous portrayals of America's rural life during the Great Depression
FDR Created the Securities and Exchange Commission to regulate the blank. Created the Federal Reserve Board to regulate stocks sold on blank.
stock market, credit
Collective Bargaining
Process in which a union representing a group of workers negotiates with management for a contract
Speculation
People bought stocks and bonds on the chance of a quick profit, while ignoring the risks.
.What act created the FDIC, which insured bank deposits?
Glass-Steagall Act
Walt Disney
cartoonist that had park built after him
Stock Exchange
an organized system for buying and selling shares, or blocks of investments, in corporations.
Schechter case
a Supreme Court case involving alleged NRA code violations by the Schechter brothers, who operated a wholesale poultry business in Brooklyn, NY. The Court ruled unanimously that they were not engaged in interstate commerce
Federal Art Project
They offered job oppertunities to artist.
Banks Collapse
People fear for their money
"Run" on banks and withdraw
In the next 3 years approx. 3,500 banks close
Zimmermann Note
German telegram to Mexico that was intercepted by the British, proposed alliance between Germany and Mexico
Charles Dawes []
XAX
( international reperation commition ) had to do with assising germany with ||| set acconomy on gold standard,
Brain Trust
Nickname for FDR's cabinet who came up with the plans for the New Deal.
Federal Deposit Insurance Company
*FDIC, created to maintain stability and public confidence, promises people they won't lose money
In FDR's first 100 days in office he pushed many programs and policies through blank.
Congress
National Debt
Total sum of the money the government owes
Weedpatch Camps
One of the camps built for homeless Oakies in California
Immigration
To enter and settle in a country or region to which one is not native.
Breadlines and Soup Kitchens
Food provided to the homeless, often by local and state governements.
National Labor Relations Act (Wagner Act)
Established the National Labor Relations Board
spirit of optimism
one of fdrs traits that appealed to the americans was his
African Americans
often the first to be fired or laid off
tea pot dome scandle
Albert B. Fall accepted bribes in return for leases of government oil reserves
4. Margin Call
Demand by a broker that investors pay back loans made for stocks purchased on margin
on the business cycle, where is the great depression and recession?
the trough(lowest point)
Stock market crash
When value of stock fell so low, people were left with huge debts; banks ran out of money and closed, people lost jobs. Start of Great Depression.
5 Factors that Caused the Depression
Lack of diversification in the American economy, unbalanced distribution of wealth, the economy's bad credit structure, America's declining international trade and international debt structure were the main factors that caused the Great Depression.
The Grapes of Wrath
The story follows the fortunes of a poor family as they travel from the Dust Bowl region to California. based on the great depression written by John Steinbeck
Roosevelt won the election of 1932 by promising a
new deal for americans
*Tennessee Valley Authority (TVA)
proved to be one of the most unique and controversial projects of New Deal Era-originated during WWI effort building a large hydroelectric power complex and munitions plant on Tennessee River at Muscle Shoals, Alabama- independent public corporation-built dams and power plants, produced cheap fertilizer for farmers, and brought cheap electricity for the first time to thousands of people
The Paradox of Inelastic Demand
-there will always be a demand for food no matter how high the price
The Bonus Marchers (The bonus army)
they were a group of 20,000 unemployed WWI veterans, who descended on Washington to demand early payment of the bonus due in 1945. They were driven away by federal soldiers led by the army's chief of staff, Douglas MacArthur. There were many other groups that responded to the economic depression by protesting, however none as organized as the bonus Marchers.
What could have been done about the rapidly decreasing consumption rates in 1925?
could have raised minimum wage or lowered prices, but either one would have resulted in decreasing profits bor business corporations
Okies
a
Fordeny McCumber Tariff
...
peak
highest stock point
capitalism
private ownership of all industries
Bankrupt
unable to pay their debts
Smoot-Hawley Tariff
(1930) High-tariff law that contributed to a global economic downturn in the 1930s
1938
when did the New Deal end?
New Deal-
3r's
1) relief
2)recovery
3) reform
work relief
programs giving needy people government jobs
jump start
to get something going immediately
North LA
area of Louisiana that supported prohibition
Frances Perkins
First female cabinet member, Secretary of Labor
legislation
the act of making or enacting laws
Great Depression
the serious and worldwide economic decline of the 1930s
Hauley-Smoot Tariff
protective import tax authorized by Congress in 1930
Hoover Flags
The nickname for empty, inside-out pockets.
Flappers
young women who challenged the social norms of the 1920s by wearing short hair and skirts and going out to jazz clubs
Through the _______________ the government helped raise farm prices by buying surplus crops for distribution for the poor.
Agricultural Adjustment Act
deficit spending
government spends more than it takes in.
Bear
A weak stock market is considered a _____ market.
fireside chat
FDR's radio speeches that were given by a fireplace in the white house
Hoover's domestic policies - blank: U.S. government gave loans to businesses with the hope that it would trickle down to little businesses.
Reconstruction Finance Corporation
National Youth Administration
was created specifically to provide education, jobs, conseling, and recreation for young people. NYA provided aid for students, in exchange, students would work part-time positions at their schools.
What scandal during the Harding administration involved naval oil reserves?
Teapot Dome Scandal
Bread Lines
lines of people waiting to receive food provided by a charity or public organization
National Recovery Act
Authorized the President to regulate banks, and stimulate the United States economy
Hoovervilles
Tents and shacks people lived in. In the cities when they lost their jobs.
Installment Plan
A payment plan that allows customers to make payments at set intervals over a period of time until the total debt is paid.
October 29, 1929
Black Tuesday, the day the stock market officially crashed
Who were FDR's advisors?
Harold Ickes, Henry Wallace, Henry Morganthau, Frances Perkins
Depression - Competition for jobs leads to increased blank, Blacks are excluded from relief efforts.Many women have to find odd jobs as men lose jobs, children suffer from blank, men feel like failures, many blank.
racial tension, malnutrition, suicides
Grapes of Wrath
written by John Steinbeck, this book reveals the lives of Oklahomans who left the Dust Bowl and ended up in California, where their hardships continued.
Eleanor Roosevelt
first lady who was very involved in her husband's presidency and fought for civil rights
soup kitchens
places where the hungry could get a free meal
Problems with agriculture
Farmers are forced to buy expensive equipment
Crop prices fall.
Dust Bowl looms in the future
Lend-lease Act
Approve by Congress in March 1941; The act allowed America to sell, lend or lease arms or other supplies to nations considered "vital to the defense of the United States."
Franklin Delano Roosevelt
32nd President of the United States; president during the Great Depression; created the New Deal
Federal Housing Administration (FHA)
Insured loans by banks, building and loan associations and other private groups to home owners for repair and to finance mortgages for new homes.
unequal distrubution of wealth
some people felt the depression was caused by
charles evans hughes
secretary of state who called for a moratorium
5. Speculation
Act of buying stocks at the great risk with the anticipation that he price will rise
Which amendment made prohibition official? which repealed it? who became powerful in chicago because of it?
18th, repealed by 21st, Al Capone
Reconstruction Finance Coorporation (RFC)
.Gives $ to wealthy people amd trickles down
Hoover's one thing he did
The Bonus Army
Group of WWI veterans who had been promised their bonuses for fighting in WWI/ they marched on Washington D.C. and camped out on the White House lawn/ Hoover commanded Douglas MacArthur with the army to get rid of them/ some were killed and others wounded
FERA/Federal Emergency Relief Administration
gave direct relief to the states for the needs in millions of dollars
It increased
As a result of the New Deal, how did the role of the government in the economy change?
"The Grapes Of Wrath"
The story follows the fortunes of a poor family as they travel from the Dust Bowl region to California. based on the great depression written by John Steinbeck
margin buying
paying part of the cost of a stock and borrowing the rest from brokers
A Cycle of Disaster II
4) Unemployed workers had little $ > demands for goods fell> businesses went bankrupt
5) Many people are out of work> people can't pay back their loans to the bank> banks can't give money back to depositors> banks are forced to shut down
6) Thousands lost their savings, people are jobless and are about to be homeless = BEGINNING OF THE DEPRESSION (OMG!)
F. Scott Fitzgerald
Was part of both the jazz age and the lost generation. Wrote books encouraging the flapper culture, and books scorning wealthy people being self-centered.
"Brother can you spare a dime"
Lyrics to a famous song of the depression
what are the new deal programs still existing today?
1. National Pension Act
2. Over Site of Labor Practices
3. Agricultural Price Supports
4. Protection for Savings
5. Regulation of Stock Market
Capital
Money
Flapper
independent rebel women
unemployed
without a job
SSA
old-age pensions, unemployment insurance; medical insurance
bonus
additional sum of money
Brain Trusts
fdr's group of advisors
Oct. 24, 1929
date of Black Thursday
Hawley-Smoot Tariff
Aimed to protect American manufacturers from foreign competition, but damaged sales abroad
reform
to prevent another Depression from happening again
Conservite
Against change and hold trational values
shantytown
economically depresed section of town conssiting of ugly buildings made of wood
His original name was Alphonsus Capone. He was most ruthless crime boss in the 1900's. He had a private army of 700 criminals in Chicago. He violently seized control of the cities 10,000 speakeasies.Chicago-based boss involved in ( all illegal) gambling,
Al Capone
Mary Mcleod Bethune
Educator who improved opportunities for blacks.
What were large government farms that Stalin included into his 5 year plan called?
Collectives
fireside chants
radio broadcasts by FDR telling everyone that their money is safe when people went crazy trying to get their money out of the bank
a "new deal"
Roosevelt's relief, recover, and reform programs designed to combat Great Depression
civil rights
rights due to all the citizens
2 unconstitutional ND programs declared by supreme court
AAA and NIRA
Holy War
Woman fought for prohibition because the men would waste money on alcohol and not use it for the benefit of their own family.
Dorthea Lange
one of the most famous photographers
rural electric administration
2nd new deal. providded electricity
francis perkins
first woman to hold a cabinet-level post; secutity of labor
prohibition
in 1933 the 21st admendment brought an end to
younger
FDR wanted what kind of supreme court justices?
Federal Securities Act (FSA)
Allowed government to investigate stock market
john steinbeck
United States writer noted for his novels about agricultural workers (1902-1968)
This corporation provided federal insurance for individual bank accounts up to 5,000
Federal Deposit Insurance Corporation
evicted
made to leave one's apartment or house by law
Stock Market
A system of buying and selling stocks and corporations.
Cubist Movement
20th century art style that is best represented by Spanish artist Pablo Picasso. Objects are rendered as geometrical objects
Who were the 1932 canidates for President?
FDR and Hoover
gold standard
a monetary system in which the basic unit of currency is defined in terms of set amount of gold
Federal Arts Project
Project designed to provide jobs for unemployed artists to design posters, offer art courses, and paint murals on public buildings. (way for struggling artists to have a job and for the community to benefit as well)
"Brain Trust":
this was a small group of reform minded individuals who wrote many of Roosevelt's speeches. Mostly made of young college professors, it acted as a kitchen cabinet and helped with much of the New Deal legislation
Hundred Days
In 1933 Congress enacted more than a dozen measures which increased the level of federal involvement in the nation's economic life.
The Dust Bowl
A series of major sandstorms that buried houses, destroyed farmland and killed livestock in the great plains in the 1930's
Soup Kitchen
place where food is provided to the needy at little or no charge
Contributing Factors to Great Depression (fifth factor)
the stock market collapse in 1929
Franklin ROosevelt
The only we have to fear is fear itself
Hoover Dam
a large dam on the Colorado River in Nevada. A dam built in the 1930s, with funding from the federal government, to control the Colorado River.
National Recovery Administration
It was the primary New Deal agency established by U.S. president Franklin D. Roosevelt in 1933. The goal was to eliminate cut-throat competition by bringing industry, labor and government together to create codes of fair practices and set prices
Demobilization
act of changing from a war basis to a peace basis including disbanding or discharging troops
sacco and vanzetti trial
accused of murder and convicted only because immigrants and radicals
Election of 1932
People had no hope left with hoover, so they chose FDR to be there new leader and hopefully to lead them out of the depression.
List 8 reasons for the great depression
1.Unregulated Stock Market 2.weak banks 3.installment buying 4. unequal dis. of wealth 5.farmers surplus 6.high tariffs 7.over speculation 8.consumer debt
Federal Savings & Loan Insurance Corporation (FSLIC)
insured savings of depositors in savings and loan institutions and monitored soundness of insured savings and loans
Court Packing Plan
1) R wanted to increase the size of the Supreme Court from 2) Sent bill to congress in '37: if a justice served for 10 years and didn't retire at 70, then the president could appoint another judge; passing of the bill would have allowed Roosevelt to appoint 6 new judged immediately => R's first serious mistake => Supreme court backing down on some of R's legislation
Social Service 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.
Home Owners Loan Association
Delt with Releive ( one of fdrs three r's ). the banks intrest went down on their home loan because people couldnt pay with the normal intrest. the reason they did this was because when the people couldnt pay off their loan
herbert hoover's answer and why blamed
opposed any form of federal welfare or direct relief, believed that people should succeed on their own efforts instead of relying on the goverment
why did the stock market crash in 1929? advice?
-people bought too much on credit, took too many risks with stock
-avoid fire-selling stocks and taking other risks
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