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21 Cards in this Set
- Front
- Back
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Mary McLeod Bethune
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hired by Roosevelt to head the division of Negro Affairs, and helped organize the “Black Cabinet,” a group of influential African American advisers to the president that helped advise him on racial issues.
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Bank Holiday
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March 5th, 1933 Roosevelt closed all banks in the nation to prevent further withdraws. Under the Emergency Banking Relief Act, the Treasury Department inspected all the country’s banks and allowed only the sound ones to re-open. Those who were not sound could receive loans or stay closed indefinitely. The purpose of this was to revive the nation’s confidence back in the banking system.
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Black Tuesday
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The confidence in the stock market plummeted and the bottom fell out of the stock market. The frantic selling of stocks caused prices to plummet. Americans lost millions of dollars, and those who had bought stock on margin were left with huge amounts of debt.
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Bonus Expeditionary Force
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Also known as the Bonus Army, this was a group of WWI veterans that marched on Washington to get support for the Patman Bill (a bonus the veterans had been promised for military service which they had not been adequately paid for). The bill was voted down, but over 2,000 veterans still had hope and remained in D.C. to speak to Roosevelt. Roosevelt decided they should be disbanded, and infantry ended up gassing over 1,000 of them. This solidified American’s opinion of Hoover.
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Bull Market
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period of rising stock prices. This led to speculation and an increased buying of stocks during the later 1920's.
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Buying on Margin
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buying stock on credit; paying a small percentage of the stock's price and borrowing the rest. Led to huge amounts of debt after the crash.
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Great Depression
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the period from 1929-1940 in which the economy plummeted and the economy skyrocketed.
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Gross National Product (GNP)
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the nation’s output of goods and services. It was cut nearly in half during the Great Depression due to economic hardship in other countries, bankrupt businesses, and high protective tariffs under the Hawley-Smoot Tariff.
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Agricultural Adjustment Act (AAA)
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sought to raise crop prices by lower production, which the government achieved by paying former to leave a portion of their land unseeded. This was stuck down as unconstitutional due to the fact that agriculture is a local matter and should regulate by state rather than federal government.
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Civilian Conservation Corps (CCC)
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put young men to work building roads, developing parks, planting trees, and helping in soil erosion and flood-control projects. It provided men almost 3 million jobs by the time it ended
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Dust Bowl
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a region that was hard hit with dust storms caused by soil erosion (caused by overproduction), accompanied by drought and winds. It caused thousands of farmers to abandon their farms and head west following Route 66 to California
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Federal Deposit Insurance Corporation (FDIC)
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protect bank accounts for up to $5,000, and today they are protected for up to $250,000.
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National Labor Relations Act (Wagner Act)
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Defined unfair labor practices and establish the National Labor Relations Board to settle disputes between employees and employers. Protected workers’ right to join unions.
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National Recovery Administration (NRA)
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established codes of fair practices in business
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New Deal
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Roosevelt promised a "New Deal" for people by enacting policies focused on three goals: relief for the needy, economic recovery, and financial reform
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Sit-Down Strike
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This was the main form of bargaining tactics during the Depression, and this took the place of other forms of striking due to the fact that if people walked off their jobs they would be replaced with strikebreakers, or scabs.
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Hawley-Smoot Tariff
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the highest protective tariff ever in U.S. History; It was designed to protect American business from foreign competition, but it had the reverse affect. By reducing the flow of goods into the U.S. it prevented other countries from earning American currency for which to buy American good.
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Social Security
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provided old age insurance for retirees over 65, unemployment compensation, and aid to families with dependent children, or people with disabilities
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Speculation Boom
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the buying of stocks and bonds with a chance of making a quick profit while ignoring the risks
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Tennessee Valley Authority (TVA)
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this act renovated five existing damn and constructed 20 new ones, creating thousands of jobs, and providing flood control, hydroelectric power, and other benefit to the impoverished region of the Tennessee River Valley.
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Works Progress Administration (WPA)
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spent 11 billion dollars to give jobs to more than 8 million people, most of the unskilled. They built airports, repaired roads and streets, and put up more than 125,000 public buildings. Women in sewing groups also made garments for the needy
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