Chapter 23 Ss Vocab

Front 1

Stock Market Crash

Back 1

After 4 weeks of failing prices and losses totaling $4 million, the stock market collapsed. People who had owned "valuable" shares of stock were left with useless pieces of paper

Front 2

Black Tuesday

Back 2

Oct. 29, 1929. People panicked at the rapid decline of the stock market and attempted to sell stocks. With virtually no buyers many people lost their accumulated fortunes overnight.

Front 3

Overproduction

Back 3

Many people during the Roaring 20's had purchased cars and other manufactured goods, but when factories continued to produce more than consumers could afford, prices rose and Americans cut back on spending.

Front 4

The Great Depression

Back 4

Started with the crash of the stock market; this was a 12 year long economic and social disaster. The crash and depression were EFFECTS of the over spending and overproduction of the Roaring 20's.

Front 5

Bankruptcy

Back 5

A financial failure of an individual or company to pay off debts. Companies that went bankrupt laid off workers, who in turn did not have spending money or bill money, declining sales led to more lost jobs and factory closings.

Front 6

Default

Back 6

Countries that could not pay off their post WW1 debt to the US because they lacked markets in which to sell goods. This caused them to default, or fail to repay loans.

Front 7

Hoovervilles

Back 7

Run down shacks built on the outskirts of towns where many jobless and homeless people lived. Nicknamed "Hoovervilles" because people blamed President Hoover for the Great Depression.

Front 8

RFC

Back 8

The Reconstruction Finance Corporation- organized by the President in order to give money to critical businesses such as banks, insurance companies, and railroads and local governments to pay for public work projects. The Great Depression still worsened despite efforts such as these.

Front 9

Bonus Army

Back 9

Veteran soldiers of WW1 had been promised a $1,000 bonus payment in 1945. Because of the Great Depression, many soldiers wanted the bonus immediately but this was refused by the President. 20,000 veterans marched to Washington DC to protest, but were cleared out by the military. Of all the unarmed vets, 1 was killed and 100 injured. This incident made Prez Hoover even more unpopular and led to his loss at the next election.

Front 10

FDR

Back 10

A rich New Yorker and Democrat who was elected President in 1932. His campaign promised "a new deal for the American people;" this later came to describe his entire political program. At his 1st inaugural, his famous quote of, "the only thing we have to fear is fear itself..." gave Americans encouragement by his confidence.

Front 11

Fireside Chats

Back 11

Radio talks given by FDR in order to communicate with Americans. 80% of the words used were in the 1,000 most commonly used words in the English dictionary. Every Prez since FDR has given some type of regular address.

Front 12

FERA

Back 12

Federal Relief Administration gave money to the states so they could reopen relief agencies to help the poor.

Front 13

CCC

Back 13

Civilan Conservation Corps- hired jobless people from cities to work in national parks, forests, and the country to plant trees, create parks, and build canals.

Front 14

WPA

Back 14

Works Progress Administration- hired workers to build or repair roads, bridges, airports, post offices, and buildings.

Front 15

NRA

Back 15

National Recovery Administration-kept prices stable and boosted the economy. Also, got most companies to stop hiring children, pay minimum wage, and keep wages and prices from falling to low.

Front 16

PWA

Back 16

Public Works Administration-was given $3 billion to build large projects such as tunnels, highways, and dams. Despite every country in the US having at least 1 PWA project, the depression continued.

Front 17

TVA

Back 17

Tennessee Valley Authority- In 1933, the TVA hired unemployed to build dams for flood control and cheap electricity for poor rural areas. This did not relieve the region's poverty. Environmental problems and pollution were also concerns.

Front 18

FDIC

Back 18

Federal Deposit Insurance Corporation- protected bank customers' money and guaranteed accounts of up to
$2,500!

Front 19

FPC

Back 19

Federal Power Comission- helped control oil and gas industries; brought fairness and safety.

Front 20

Eleanor Roosevelt

Back 20

FDR's wife; she changed the role of First Lady from tea parties to a working woman. She wrote a daily newspaper column, gave radio speeches, and supported women's rights. She encouraged her husband to hire more women and minorities.

Front 21

Civil Rights

Back 21

Constitutional rights such as voting an equal treatment; these rights have been largely ignored by many Presidents in US history. FDR failed to support an anti-lynching law.

Front 22

Migrant Workers

Back 22

Workers who "migrate" from farm to farm to pick crops. Traditionally,these difficult jobs are filled by the Mexican population, but during the depression, white migrant workers competed for these farm jobs.

Front 23

Indian New Deal

Back 23

A proposed program that was like FDR's New Deal; it proposed putting Native Americans to work building schools, hospitals, and irrigation systems. Only part of the plan was approved in 1934.

Front 24

The Dust Bowl

Back 24

Poor farming methods and long periods of drought caused widespread crop failure in the southwestern plains. For 5 years, 100 million acres of rich farmland was turned into "the Dust Bowl."

Front 25

Social Security

Back 25

Signed into law by FDR, this provided benefits for retirement, disability, survivorship, and death for people suffering hardship through no fault of their own. Money for this program comes from payroll taxes and the government. It is the largest expense in the federal budget.

Front 26

Payroll tax

Back 26

A tax that removes money directly from a worker's paycheck and transfers it to the government for social security benefits employers must match contribution.

Front 27

Collective Bargaining

Back 27

The right of a union to negotiate wages and benefits for all of its members. Employers are required to participate in bargaining.

Front 28

Sit-down strike

Back 28

Workers sit down in the factory in order to stop production. These types of strikes were later ruled illegal by Supreme Court.

Front 29

Deficit Spending

Back 29

The government is spending more money than it collects in taxes. Many critics of the New Deal argued that this type of deficit spending would increase the nation's debt.