Great Depression Terms Flashcards

Terms Definitions
Bankrupt
...
CCF
Cooperative Commwealth Federation
People blamed....
Hebert Hoover
Black thursday.
October 24, 1929.
Recovery
To make economy healthy again.
Recession
normal slow downs in economic
Unemployment
33% unemployment [1932]
-has social consequences -not just loss of income & liklihood
America=mobile society
job gives -> dignity,status, & self respect
job-> determines friends, interest in life & conversations
=> swept away in 1932 & had catastophic results
jobless
FDR wanted to help the _______.
Shantytowns
Unplanned slum developments on the margins of cities, dominated by crude dwellings and shelters made mostly of scrap wood, iron, and even pieces of cardboard.
Great Depression
Severe worldwide economic depression in the decade before World War II.
Stock Market Crashes
bank failures
high unemployment
home foreclosures
middle class disappeared
Shantytown
Small towns consitisting of makeshift shacks
al smith
democrat canadite in 1928 election
movies
grew popular during decade. made idealized self-image that heroes defied all odds to succeed in romance.
Herbert Hoover
president during stock market collapse and the height of the Great Depression. Conservative, made limited efforts to control the economic and social issues of the nations. "too little, too late"
Orson Wells
Actor, Director, producer, writer who created radio broadcasts
fireside chat
regular nationwide speeches on radio that helped calm listeners on problems in the country -> just made people feel better, given by FDR next to a fireplace, in the first fireside chat he announced that the banks would repopen
black tuesday
october 29, investors dumped stocks, which wiped out the previous year's gains in one day
Frances Perkins
Americans first female cabinet member. She was the secretary of labor. She played a major role in creating the Social Security Act and supervised the Labor Legislation and women's issues.
Huey Long
Louisianna Senator who opposed FDR's New Deal and came up with a , "Share the Wealth" wants to give $5k to all families, was later assassinated
Business Cycle
span in which the economy grows
inflation
a general and progressive increase in prices
farmers produced too much and prices stayed ___
low
Dust Bowl
Causes: Overgrazing by cattle and plowing by farmers destroyed the grasses that once held down the soil. A drought and high winds sent millions of tons of dust across the continent.
Effects: Thousands of farmers (okies, arkies) left their homes to look for work in california
Manchu Kuo
puppet government established by Japan - imperialized
the 3 r's?
reief- instant care for hungrey
recovery-get back on feet.
rereform-change the causes of depresssion
Black Thursday
October 24, 1929; almost 13 million shares sold that day alone
Deficit Spending
creating a total increase in the national debt
TVA(tennesse valley authority)
planned development of the tennesse valley region
Social Security Act
designed to impact poverty among senior citizens - paid for by younger wage earners.
What is black tuesday?
day the stock market crashed
speculation
when people bought stocks and bonds on the chance of a quick profit, while ignoring the risk
Homeowners' Loans COrporation (HOLC)
Lowered mortgages to stop foreclosures
new deal
the historic period (1933-1940) in the U.S. during which President Franklin Roosevelt's economic policies were implemented
business cycles
The periodic rises and falls that occur in all economies over time
How many trees did the CCC plant?
3 Billion
public works
projects built by the government for public use
wealthy
having an abundant supply of money or possessions of value
Federal Housing Authority
Established by FDR during the depression in order to provide low-cost housing coupled with sanitary condition for the poor
Bernard M. Baruch
Established the War Industries Board in 1917; a prosperous business man
Collective Bargaining
process by which a unio representing a group of workers negotiates with management for a contract
Teapot Dome Scandal
Albert Fall stole oil revenues from the navy
migrant worker
people who move from one region to another insearch of a job
Mexican Constitution of 1917
Promised land reforms, limited foreign ownership of key resources, guaranteed rights of workers, and placed restrictions on clerical education; marked formal end of Mexican Revolution. (p 776)
Narrative non-fiction
a literary term for a text that presents a true story written in a style more closely associated with fiction
Hoover Dam
Dam on the Colorado river that was built during the great depression
Federal Housing Act (FHA)
Helped repair, rebuild, and insure older homes
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
Panic of 1929
Together, the 1929 stock market crash and the Great Depression formed the biggest financial crisis of the 20th century. The panic of October 1929 has come to serve as a symbol of the economic contraction that gripped the world during the next decade. The crash of 1929 caused fear mixed with a vertiginous disorientation, but shock was quickly cauterized with denial, both official and mass-delusional. The falls in share prices on October 24 and 29, 1929 were practically instantaneous in all financial markets, except Japan. The Wall Street Crash had a major impact on the U.S. and world economy, and it has been the source of intense academic debate, historical, economic and political, from its aftermath until the present day
John Steinbeck
One of the best-known and most widely read American writers of the 20th century. He wrote the Pulitzer Prize-winning novel The Grapes of Wrath, published in 1939 and the novel Of Mice and Men, published in 1937. In all, he wrote twenty-five books, including sixteen novels, six non-fiction books and several collections of short stories. In 1962 Steinbeck received the Nobel Prize for Literature.
1st 100 days
the first 100 days of FDR's administration when he met with congress for 100 days of law-making in which they created a series of new programs, known as the New Deal
National Labor Relations Board
Created by the National Labor Relations Act, also known as the Wagner Act it was created in the 1930's by congressman Wagner who was sympathetic to labor unions. This was an administrative board that gave laborers the rights of self-organization and collective bargaining.
Georges Clemenceau
French statesman who played a key role in negotiating the Treaty of Versailles (1841-1929)
buying on margin
Purching stock with a little money down with the promise of paying the balance at sometime in the future
National Recovery Adminstration
which new deal agency was created to help businesses?
Causes of great depression
Stock market crash; consumer debt and spending
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.
Great Gatsby
made in 1925, set in 1922, cont. idea of guilded age, American life vs. reality, American Dream is not achievable
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)
assembly line
to create parts one at a time; made labor dull and boring
Causes of crash
There were many causes for the crash. The economy was not as good as it had been. People sold there stocks too fast which caused the market to fall rapidly.
In what industrialized countries does the government provide health insurance?
all except for USA and Africa
Fair Labor Standards Acts (FLSA)
Set minimum wage and maximum working hours
Hawley - Smoot Tariff Act
a law, enacted in 1930, that established the highest protective tariff in U.S. history, worsening the depression in America and abroad.
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
Installment plans or on credit
way the people were buying things they couldn't afford
Four New Deals of the GD
alphabet soup
AAA
CCC
FDIC
TVA
SSA
NRA
WPA
Gold Standard Act
The Agricultural Adjustment Act (AAA)
Act that tried to raise crop prices by lowering production. Paid farmers money not to grow more than a certain amount of food and to destroy other crops and animals.
The Role of the Three Reupblican Presidents
all used Laissez Faire - thought it would improve the economy
1. Harding - least effect on downward spiral, bulls were running on wall street, demand for consumer goods was the greatest
2. Coolidge - economy of the US was effected by High Protected Tariffs and Isolationism, "the business of America is business"
3. Hoover - gets blamed for GD, stuck with Laissez Faire - should've taken control "we got ourselves into this mess we will get ourselves out
bovlder
...
FDR
President from 1932-1945
NRA
national recovery administration
brown
what color are youreyes
FERA
Federal Emergency Relief Administration...provided federal money for relief projects to approximately 13 million unemployed people
WPA
relief- Works Progress Administration- Jobs for men and women building hospitals, schools, and parks and creating artwork poems and music
Murals
Gave people inspiration and hope
Which country is "embittered and alone"?
France
Socialism
a political theory advocating state ownership of industry
hard times
unemployment, decreased marriage rates and birth rates, starvation etc.
Hawley-Smoot Tariff (1930)
Congressional compromise serving special interest, it raised duties on agricultural and manufactured imports. It may have contributed to the spread of the international depression.
schools
_________ often closed because tax revenues were falling in communities
___________ believed that private charity, not federal aid, was the "American way."
President Hoover
18th
What amendment began the era of prohibition?
Margin Buying
the purchasing of stocks through borrowing money from a stockbroker-caused the stock market to grow every year and increased the number of people invested in the market
Scechter Case
Supreme Court ruled NRA (National Recovery Administration) unconstitutional. They said that congress could not "delegate legislative powers" to the executive branch.
John L.Lewis
long-time labor leader who organized and led the first important unskilled workers labor union (CIO), called in to represent union during sit-down strike
Werner Heisenberg
A German physicist that speculated that there was no real certainty in where an electron was, and only tendencies. This broke down Newton's dependable laws to only probabilities.
voluntary action
hoover originally believed in _____ ______ but then introduced government programs
Eleanor Roosevelt
FDR's wife, held women's press conferences. Started "My Day"
Speakeasy
Illegal bar that served liquor during Prohibition
"Bank Holiday"
March 6 - all US banks closed
John Maynard Keynes
is theories influenced New deal programs
Public Works Administration (PWA)
2. provided work for unemployed
sitdown strike
work stoppage in which workers refuse to leave a factory
true
The Patman Bill was intended to pump new life into the economy by providing emergency financing to various types of SMALL businesses
Global Depression
By 1931, the American Depression hit the rest of the world. Banks in Europe began to fail when the US asked for its loans to be paid back.
Recontruction finance Corporation
Emergency loans to banks, railroad's, & insurance companies
Bonus Army
WWI veterans who marched on Washington demanding their $1,000 bonus pay before the 1945 due date.
Bootlegger
A term used to describe a person who sold alcohol during prohabition.
Francis Townsend
a california doctor who created a plan giving everyone over the age of 60 a pension of $200 a month
john steinback
author of grapes of wrath; told the story of the dust bowl farmers
low paid laborers
those hit the hardest by the depression were
soup kitchen
place where food is provided to the needy at little or no charge
CCC-Civilian Conservation Corps
gave public works jobs to young men
Agricultural Adjustment Administration [AAA]
May 1933. Regulates production through subsidies. Found unconstitutional in 1936, but reenacted in 1938 in a modified form. (Recovery)
farmers
had to go through Dust Bowl in the great plains.
Struggling Farmers
Owed to much money to pay for machinery, land, and workers previously bought
Breadline
way for for free food during the Great depression
This was signed in a spirit of international cooperation between Stresemann & Briand; guaranteed Germany's western borders with France and Belgium; Poland was left out of this because Germany did not see Poland as being permanent; in reality, Germany coul
Treaty of Locarno
what problems did americans face during the dreat depression?
banks closed, bisinesses closed, homeless, low income for farmers
woody guthrie
famous folk singer - " this land is your land"
National Income
average of what the family makes in a year
Work Progress Administration
largest and most ambitious of the new deal programs, this employed millions to carry out public work projects
US v. Butler:
Supreme Court case in which the court decided that elements of the AAA were unconstitutional. They held that the taxes were coercive and oppressive to certain businesses, but helpful to farmers.
Langston Hughes
This man was well known for making the Harlem Renaissance famous because of his poems.
What program gave young single men a job in the wilderness?
CCC, Civilian Conservation Corps
What is a Hooverville?
Group of shacks in which the homeless lived during the Great Depression
What caused the dust bowl???
when the farmers used new tecnolegy such as tractors and disc plows. they didnt relize that the grass held the soil in place. and when the drought came the soil dried out
Federal Emergency Relief Association (FERA)
Gave direct relief in the form of money as aid to states and localities for distribution to needy. Distributed about $3 billion in relief to 8 million families--one six of the population
Federal Home Loan Bank Act
law enacted in 1931 that lowered home mortgage rates and allowed farmers to refinance their loans and avoid foreclosure
how does the government pay for public works
by raising taxes and borrowing money
Answer the questions on the top of page 554 of your text about Interpreting Graphs.
From your reading of Section 3, explain why unemployment rose during 1937: The Roosevelt administration cut spending and increased taxation in an attempt to balance the federal budget. By about how much did unemployment decline over the course of the New Deal: About 19.1 percent.
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