great depression vocab Flashcards

Terms Definitions
objective
goals
prosperity
doing well financially
capital
money from investors
Hawley-Smoot
raised tariff to 60%
FERA
Federal Emergency Relief Administration: combined cash relief to needy families with work relief
John Collier
commissioner of Indian affairs
Social Security
Gives $ to unemployed/retired
TVA
The Tennessee Valley Authority federation was created in 1933 in order to provide navigation, flood control, electricity generation, fertilizer manufacturing, and economic development in the Tennessee Valley, a region particularly impacted by the Great Depression
Nationalization
government takeover and ownership of banks, and the redistribution of their wealth
What happened to home construction?
it slowed
What was the 21st Amendment?
Repealing prohibition?
Hooverville
shacks where homeless people lived during the Great Depression
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.
Recovery New Deals
Agricultural Adjustment Act.. Tennessee Valley Authority.. Civilian Conservation Corporation.. Public works administration.. Civil Works Administration..National Recovery Administration..
Speculation
an involvement in risky business transactions in an effort to make a quick or large profit
socialists
called for gradual social and economic chages
Black Tuesday
Tuesday, October 29th 1929. Prices plunged because there were no buyers.
(Hoover) did this, which increased tariffs to an all time high. European countries increase their tariffs, and this hurts global trade.
Harley-Smoot Tariff
Bull Market
a market characterized by rising prices for securities
associative state
the term for Preseident Hoover's vision of voluntary partnership between business associations and the governemnt.
rugged invidualism
the belief that all invidualism succeed on their own--government help for people should be minimal.
CWA
Provided public works jobs at $15/week to 4 million workers
Warren Harding
In 1920, this Republican presidential candidate promised "less government in business and more business in government" to help bring back prosperity after the recession and inflation that followed World War I. But prosperity was no substitute for leadership. After becoming president, he admitted to his friend, "I knew that this job would be too much for me." He was right. The widespread abuse of the public trust by his cronies shocked the nation. The most notorious abuse was the Teapot Dome scandal by Secretary of Interior, Albert Fall.
hoovervilles
nickname given to shantytowns in the United States during the depression
Fireside chats
speeches broadcast nationally over the radio in which F.D.R. explain the conflicts issues and program in plain language.
Collective Bargaining
process by which a union representing a gourp of workers negotiates with management for contract
surplus
when you produce more than you can sell
George W. Norris
a sneator from Nebraska, whose steadfast vision and zeal helped an act creating the Tennesse Valley Authority to be passed in 1933.
Causes of the Stock Market Crash & Great Depression - A surplus of goods & less consumer demand led to laying off of blank.
workers
Election of 1932
The Republican nominee was Herbert Hoover and the Democratic nominee was Franklin D. Roosevelt. The Republican platform included higher tariffs, keeping the gold standard, and continuation of Hoover's 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"
FDR supporters were immigrants, urban folk, Catholics, rural farmers, union workers and solid south African Americans. Was known as the the New Deal Coalition.
Bonus Army
consisted of WWI veterans and their families who came to DC to support the Patman Bill. This bill authorized the government to pay a bonus to WWI veterans who had not been compensated adequately for their wartime service.
Stock Market
Established a system for buying and selling shares of companies.
Installment
buying an item on credit with a monthly plan to pay off the value of the good
Unemployment Insurance
payments to people who lost their jobs.
Glass Steagall Banking
expanded credit to make loans available to businesses and individuals
Federal Emergency Act
Gives shelter, food, money; direct relief Ex. Soup Kitchen and Breadlines
Tennessee valley authority
Building DAms in Tennessee for electricity and giving people job oppurtunities
Dawes Plan
An American intervention in Germany in 1926 that relieved Germany of their hyperinflation by providing them with short-term loans from U.S banks. Because of this, Germany was able to gain social stability and economic growth temporarily until the U. S stock market crashed in 1929, resulting in the Great Depression.
Emergency Banking Act
A government legislation passed during the depression that dealt with the bank problem. The act allowed a plan which would close down insolvent banks and reorganize and reopen those banks strong enough to survive.
Townsend
plan give $200/month to all over 60 - HAD to spend it
Escapism
The act of escaping the time that you are in, maybe with music, theater, or a movie.
Fair Labor Standards Act
Established minimum wages and maximum hours for businesses to work their employees
John Steinbeck
Author of The Grapes of Wrath, which told the story of the Great Depressopm amd ots aftermath through alternation views of a single family and of society as a whole. Called the Uncle Tom's Cabin of the Dust Bowl.
Depression - Farmers lose farms & many move blank. Dust Bowl or blank made problems worse.
west, drought
eleanor roosevelt
FDR's Wife and New Deal supporter. Was a great supporter of civil rights and opposed the Jim Crow laws. She also worked for birth control and better conditions for working women
Dust Bowl
series of severe dust storms over 100 million acres of farmland lost all or most of topsoil in the winds because of -lack of rain and crops to hold soil
Tennessee Valley Authority (TVA)
It brought cheap electrical power, full enemployment, low-cost housing and envrionmental improvements to those living in the
Tennessee River Valley
buying on margin
Purchasing stock with a little money down with the promise of paying the balance at sometime in the future
Debt
What you get into when you can't pay for what you bought on credit (living beyond your means)
Direct Relief
Cash payments or food provided by the government to the poor.
what was one effect of the wage cuts and unemployment
hoovervilles
Great Depression
In 1920's and 30's when stock market crashed and peoplelost all jobs and money
FDIC Federal Deposit Insurance Corp.
Permanent agency to insure depositors' money in savings banks
Beer Hall Putsch
1920s attempt by the Nazi Party to launch a coup against the democratically elected government of Germany
Smoot- Hawley Tariff
big tax on foreign goods coming into America
committee of industrial organizations
agency that helped organize unions for auto and steel workers
buying on the margin
buying stocks and borrowing money from a bank or broker; if the money way not paid back, the bank would foreclose on posessions; everyday people could buy stock; led to stock market crash because of overextention
5 Cent speech
this was a speech that king gave saying he would not give a 5 cent peice to any conservative province
Emergency Quota Act of 1924
set immigration quotas to new immigrants, south/eastern europe. limits to set to reduce foreign influence on country
crash of 1929
the plunge of the stock markey was the first event of the terrible great depression
New Deal goal #2-recovery
boost industry & farming to help the economy
Of Mice and Men
A story about two friends trying to "make a stake" during the Depression.
Federal Deposit Insurance Corporation (FDIC)
Insured savings accounts in banks by the government
Social Security 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
The boom and the bust of the 1920s
the economics of the 1920s
How did over production in factories contribute to the Great Depression?
factories turned out more goods than the American people could consume
-too much product = lower prices and profits
-lower profits = worker layoffs and business closings
What was Roosevelt's response to the banking crisis?
Tried to solve the banking Crisis by supporting legislation that allowed sound banks to borrow federal funds.
1939 was the last year of the great depression and why
it was the year that the GNP and personal income were rising to a point that they were at prior to the Great Depression
CCC
...
NRA
National Recovery Administration
Film companies
-mgm
-20th century
-Paramount
bankrupt
unable to pay debts
Wagner Act
Reestablished the NLRB
Republican
Hoover was in this party
pension
payment, for older, retired people
panic
wild selling causing a crash
relief
government should create jobs by hiring people to build play grounds bridges, parks
Socialism
a political theory advocating state ownership of industry
famous musicians
Louis Armstrong,Bessie Smith, Marion Anderson
workers
people sold apples to avoid panhandling, 1932 Cleveland, half of ____ jobless
Farmers' Holiday Association
organized demonstrations and threatened a nationwide walkout by farmers in order to raise prices
KDKA
first radio station that made money with advertising
FDR democrats
blue collar, women, African Americans, immigrants, Southerners, liberals, other minorities, poor or low economic class
releif program
goverenment program to help the needy
civil rights
the constitutional rights due all citizens
oct 29, 1929 is known as...
black tuesday
Reconstruction Finance Corporation
_____ _____ ____(1932): U.S. government gave loans to businesses with the hope that it would trickle down to little businesses.
Frances Perkins
Secretary of Labor, veteran reformer, director of direct relief to unemployed
Model T
car built by Henry Ford; sturdy, reliable, inexpensive, only came in black
Sitdown Strike
when workers refuse to work until management recognizes what they want
Enabling AcT
Law passeed by the German legislature which granted emergency powers to Adolf Hitler as Chancellor of Germany
1933
11 thousand banks had closed; many had lost their savings;
Hawley-Smoot Tariff
Highest tariff ever created at the time
foreign countries took it as declaration for war
John L. Lewis
long-time labor leader who organized and led the first important unskilled workers labor union, called in to represent union during sit-down strike
bank holiday
brief period during which every bank in the country was required to close before they went out of business
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
Hundred days
congress passed 15 major acts to resolve the economic crisis, setting a pace for new legislation that has never been equaled
New Deal
the economic policy of F. D. Roosevelt
Monkey Trial
Evolution vs. the Bible, a high school biology teacher was arrested for teaching Darwin's theory
bonus
additional sum of money to be paid in 1945
Weakness in the economy
feeding the allied powers farmers borrowed additional money for more land and supplies; after war farmers had surplus but prices fell and had problems paying off debts.
Franklin D Roosevelt
President of the US during Great Depression and World War II. (President 1933-1945)
Grapes of Wrath
By John Steinbeck
Educated many on the Dust bowl
Patman Bonus Bill
It was enacted when Congress overrode President Franklin D. Roosevelt's veto on January 27, 1936. Congress had sustained Roosevelt's previous veto of an earlier version of the bill in 1935. the President addressed a joint session of Congress to deliver his veto message. As he concluded his speech, he handed the unsigned bill to the Speaker of the House. Within an hour the House overrode the veto by a vote of 322 to 98. Even before the Senate sustained the veto, proponents were planning another attempt at passage. Roosevelt argued that the program would invite demands for similar treatment by other groups and that it was not a relief bill since it was not based on the demonstrated needs of the recipients.
Hawley - Smoot Tariff
Used to protect domestic industries, the Tariff Act of 1930 was an act signed into law on June 17, 1930, that raised U.S. tariffs on over 20,000 imported goods to record levels. The overall level tariffs under the Tariff were the second-highest in US history
broker state
role of the government to work out conflicts among competing interest groups
Prohibition
The period from 1920 to 1933 when the sale of alcoholic beverages was prohibited in the United States by a constitutional amendment.
National Labor Relations Act
law passed in 1935 that protects American workers from unfair management practices such as forming a union; garanteed workers the right to collective bargaining
Spirit of St.Lewis
Plane used by charles linburg to fly across atlantic
the responbillities of federal government
the 1932 presidential election served as a turning point in a way the americans viewed
Federal Home Loan Bank Act
Lowered mortgage rates for homeowners and allowed farmers to refinance their farm loans and avoid foreclosure; avoided eviction by reducing mortgage and loan rates as well as providing loans.
Hawley Smoot Tariff
charged a high tax for imports thereby leading to less trade between America and foreign countries along with some economic retaliation
Jesse Owens
track star who won four gold medals at the Olympics in Berlin, Germany
Most of the money was spent on..
Public works (less profit)
New York Stock Exchange
Location in New york City on Wall Street where stocks are bought and sold.
Shanty Town
A town or section of a town or city inhabited by very poor people living in shanties.
Describe what the federal government did during the New Deal.
During the New Deal period, the federal government acted as a force to help some groups and limit the power of others. This elevated and strengthened newer interest groups which allowed these to compete more effectively.
The making, giving out and using goods and services
What is the definition of economy?
how did the banking effect the Great Depression
Banks were making riskier and riskier loans particularly to Germany and finally many banks begin to go bankrupt bring a crisis to the system
on margin
.
AAA
Agriculture Adjustment Act-aided farmers and regulated crop production.Paid to leave certain amount of each acre unseeded. Unconst.
the presidents of the 1920's
republicans
Coolidge prosperity-
Coolidge promoted economic growth
FDIC
a federally sponsored corporation that insures accounts in national banks and other qualified institutions
Herbert Hoover
President during the Great Depression
1932 Elecion
Hoover- Rep.
*FDR- Dem. Great Victory
Unemployment
overproduction creates a surplus in good which results in cutbacks.
climbed to 4 million
public works
government projects for the public built by public funds
keynesian View point
government regulation needs to increase during times of recessions and/or depressions
Joe Louis
United States prizefighter who was world heavyweight campion for 12 years (1914-1981)
welfare states
system of government institutions that provides for basic needs of citizens
critics from the left
wanted more government involvement
fascist
a political philosophy that holds the individual second to the nation and advocates governmentby dictatorship
What years was FDR in office?
1933- 1945
Twenty-First Ammendment
In 19933 state and federal governments responded with the twenty- first admendment which ended probation .
Sacco and Vanzetti
italians accused of being socialists and for murdering a Massachusetts paymaster and his guard. Case dragged on for 6 years until 1927 when they were electrocuted
Regina Manifesto
was the programme of the Co-operative Commonwealth Federation. First national convention of the CCF held in Regina, Saskatchewan in 1933.
breadline
A line of people waiting to receive food given by a charitable organization or public agency.
Eleanor Roosevelt-
(FDR's Wife) was an unofficial adviser to. She traveled around the world to report her findings of our country to her hunsband.
20th Amendment
shortened the Lame Duck period from Nov. to March to Nov. to Jan.
Business Cycle
The rhythm in which an economy expands and contracts its production
Civilian Conservation Corps.
Relief: (CCC) March 31, 1933; reduced poverty/unemployment, helped young men and families; young men go to rural camps for 6 months to do construction work; $1/day; intended to help youth escape cities; concerned with soil erosion, state/national parks, telephone/power lines; 40 hr weeks
Bennett Buggies
A buggy with engine removed pulled by horse.
Wild boys
sons of poor farmers, out of work miners that used to be wealthy. "Hoover Tourists"
low interest rates
encouraged banks the make risky loans, many thought economy was still growing- led to overproduction, raised when depression hit- big mistake
The Great Depression
A severe economic crisis during the 1930's, a time period during the 1930s when there was a worldwide economic depression and mass unemployment
Who was in FDRs brain trust
Berle, Tugwell, Moley, Hopkins
(FERA) Federal Emergency Relief Administration
gave relief to unemployed and needy
Margin-
buy a stock for a fraction of the real price
migrant worker
a person who moves from place to place to find work harvesting fields. xs
Hoover's approach to G.D
Do nothing and let economy fix its self
Civilian Conservation Corps (CCC)
over the next 10 years, the CCC employed over 3 million young men to work on projects that benefited the public, planting trees to reforest areas, building levees for flood control, and improving national parks
What was the Tennessee Valley Authority (TVA)?
Built dams to provide cheap electric power to seven southern states, set up schools and health centers.
a wave of legislation including more social welfare benefits
What was the 2nd New Deal?
a stock market crash wiped out all the gains of the previous year
What occurred on "Black Tuesday"?
Why did the New Deal have to wait 4 months?
The inauguration date was march 4(changed to jan. 20 by the 20th amendment)
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