Great Depression

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1. Great Depression and New Deal

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*programs were responses to the Great Depression, and focused on what historians call the "3 Rs": relief, recovery, and reform
*relief for the unemployed and poor; recovery of the economy to normal levels; and reform of the financial system to prevent a repeat depression

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2. Great Depression

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*severe worldwide economic depression in the decade preceding World War II
*most countries it started in about 1929 and lasted until the late 1930s or early 1940s
*depression originated in the U.S., starting with the fall in stock prices that began around September 4, 1929

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3. Black Tuesday

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*The Wall Street Crash of 1929 (October 1929)
*crash signaled the beginning of the 12-year Great Depression that affected all Western industrialized countries
*most devastating stock market crash in the history of the United States

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4. Dust Bowl

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*period of severe dust storms causing major ecological and agricultural damage to American and Canadian prairie lands from 1930 to 1936
*caused by severe drought coupled with decades of extensive farming without crop rotation, fallow fields, cover crops or other techniques to prevent erosion

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5. Gross National Product

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*is the market value of all products and services produced in one year by labor and property supplied by the residents of a country
*which defines production based on the geographical location of production

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11. Fireside Chats

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*were a series of thirty evening radio speeches given by United States President Franklin D. Roosevelt between 1933 and 1944

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12. FDIC

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*United States government corporation created by the Glass–Steagall Act of 1933
*provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank

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13. Public Works Administration

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*headed by Secretary of the Interior Harold L. Ickes during President Roosevelt's time in office
*response to the Great Depression
*concentrated on the construction of large-scale public works such as dams and bridges, with the goal of providing employment, stabilizing purchasing power

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14. Civilian Conservation Corps

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*public work relief program in the United States for unemployed, unmarried men, ages 17–25, between 1933-42
*it provided unskilled manual labor jobs related to the conservation and development of natural resources in rural lands owned by federal, state and local governments.

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15. Schechter v. U.S

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*was a decision by the Supreme Court of the United States that invalidated regulations of the poultry industry according to the nondelegation doctrine and as an invalid use of Congress' power under the commerce clause

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16. Securities Exchange Commission

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*is a federal agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States

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17. Second New Deal

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*called for three major goals: improved use of national resources, security against old age, unemployment and illness, and slum clearance, as well as a national welfare program (the WPA) to replace state relief efforts

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18. Works Progress Administration

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*was the largest and most ambitious New Deal agency, employing millions to carry out public works projects, including the construction of public buildings and roads
*It fed children and redistributed food, clothing, and housing

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19. Wagner Act 1935

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*1935 United States federal law that limits the means with which employers may react to workers in the private sector who create labor unions, engage in collective bargaining

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20. Social Security Act 1935

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*to refer only to the benefits for retirement, disability, survivorship, and death, which are the four main benefits provided by traditional private-sector pension plans

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21. Huey Long

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*The Kingfish, served as the 40th Governor of Louisiana from 1928–1932 and as a U.S. Senator from 1932 to 1935
*proposing new wealth redistribution measures in the form of a net asset tax on corporations and individuals
*stimulate the economy, Long advocated federal spending on public works, schools and colleges, and old age pensions

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22. John L. Lewis

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*was an American leader of organized labor who served as president of the United Mine Workers of America
*driving force behind the founding of the Congress of Industrial Organizations (CIO), which established the United Steel Workers of America and helped organize millions of other industrial workers in the 1930s