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54 Cards in this Set
- Front
- Back
Herbert Hoover
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Republican President when the Great Depression began. Believed in a hands-off approach to government.
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speculation
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Using money you aren't sure that you own: Investment with the hope of gain but with the risk of loss.
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Black Tuesday
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October 29th. The day the stock market quickly crashed. This was the catalyst of the Great Depression.
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business cycle
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Periodic growth and contraction of the economy.
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Great Depression
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Economy low, unemployment high. from 1929 - 1941.
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Hawley-Smoot tariff
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Raised prices on foreign goods to protect American products from foreign competition.
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bread line
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People lined up for food handouts from charities or public agencies.
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Hoovervilles
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Shantytowns built on vacant lots or public land by the homeless.
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tenant farmer
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Farmer working for bigger landowner rather than themselves, because otherwise there WAS no land to work on.
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Dust Bowl
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Dust storms on the Great Plains caused by drought, lots of loose topsoil from overplowing, and high winds.
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Okies
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Dust Bowl refugees were often called this, regardless of whether or not they actually came from Oklahoma. Many were headed out to California, or even Oregon.
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repatriation
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Efforts by local, state, and/or federal governments to coerce/encourage Mexican immigrants to return to Mexico.
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localism
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Policy by which "problems can be best solved at the local and state levels of government".
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Reconstruction Finance Corporation (RIC)
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A stimulus program for trickle-down economics. Billions of dollars in government loans to railroads, businesses, and banks. The money would be passed downwards to struggling businesses and the chain would continue.
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trickle-down economics
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Money lent to bankers, which is given to businessmen, who hire more workers. Money goes down the "pyramid".
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Hoover Dam
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Dam in the Colorado River. Its construction brought jobs to the Southwest.
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Bonus Army
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World War I veterans seeking the bonuses that Congress had promised them.
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Douglas MacArthur
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A general called for by President Hoover to clear the area of the Bonus Army protesters. He used tear gas and an army of men, along with tanks. Many protesters were injured. Hoover did not intend this, but it permanently destroyed his reputation.
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Franklin Roosevelt
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Democratic President that was elected during the Great Depression regardless of the fact that he had never endured economic hardship. Believed in deficit spending and for the government to be heavily involved in the recovery of the nation.
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Eleanor Roosevelt
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The First Lady while FDR was in office/his wife. Became heavily involved in political affairs; she was like a co-President to him.
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New Deal
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Pledged by FDR to combat the Great Depression and promote economic recovery.
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fireside chat
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Informal speeches by FDR to the American people, taking advantage of the public radio. Very effective way to communicate and get the people to trust the President.
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Charles Coughlin
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Roman Catholic priest with a radio show and was one of FDR's biggest rivals. Accused the President of not doing enough to fight the depression and had radical views about "communists" running the country.
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Huey Long
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"The King Fish." One of FDR's other rivals, Senator of Louisiana. His solution to the depression was the "Share Our Wealth" program which would put high taxes for the wealthy and redistribute the money to poor Americans. However, his leadership style bordered on communism.
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Second New Deal
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This was more geared towards promoting the general welfare and addressing the problems of specific groups of people in need.
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Works Progress Administration
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Created lots of new jobs. Improved many highways, dredged rivers and harbors, and promoted soil/water conservation. Also provided programs for many types of displaced artists. The biggest New Deal agency.
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pump priming
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Theory of John Maynard Keynes that putting people to work on public projects puts money into the hands of consumers who would buy more goods, stimulating the economy.
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Social Security Act
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Provided insurance for workers who lost their jobs, victims of work-related accidents, mothers/children in poverty, the blind, and the disabled.
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Wagner Act
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Recognized the right of employees/workers to join labor unions and gave the right to collective bargaining.
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collective bargaining
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Employers had to negotiate with unions about hours, wages, and other working conditions.
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Fair Labor Standards Act
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Established minimum wage, maximum workweek of 44 hours, outlawed child labor.
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Congress of Industrial Organizations (CIO)
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Proposed by John L. Lewis to organize workers in industrial unions.
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sit-down strike
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Workers refuse to leave a workplace until a settlement is reached.
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court packing
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FDR wanted to expand the amount of Justices in the Supreme Court so that it would have more New Deal supporters. This was considered unconstitutional and FDR was accused of trying to increase presidential power and upset the balance between the 3 branches of the federal government.
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Civilian Conservation Corps (CCC)
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Provided jobs for over 2 million young men. Replanted forests, built trails/roads, dug irrigation ditches, and fought fires. FDR's favorite New Deal program and also the nation's favorite.
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Federal Housing Administration (FHA)
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Insured bank loans used to build or repair homes. Stimulated home construction.
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National Recovery Administration (NRA)
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Worked with business and labor to develop codes of fair competition to govern whole industries. These codes established wages and prices. Declared unconstitutional.
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Federal Emergency Relief Act (FERA)
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Granted federal funds to help America's unemployed. Provided the first welfare in US history.
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Rural Electrification Administration (REA)
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Provided loans to power companies to bring electricity to rural areas.
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Home Owners Loan Corporation (HOLC)
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Loaned money at low rates to homeowners who could not meet their mortgage payments. Helped the housing industry stabilize.
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Tennessee Valley Authority (TVA)
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Built a series of dams to control floods and to generate electricity in the South. Later built fertilizer plants and was criticized as being a "socialist agency" that did not allow private companies to compete with it.
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Agricultural Adjustment Act (AAA)
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Sought to end farmer overproduction and to increase crop prices. Farmers were paid not to grow crops and livestock was often destroyed to lower supply. Declared unconstitutional by the Supreme Court.
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Public Works Administration (PWA)
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Responsible for building many public works projects still in use today. FDR saw this as a "pump priming" agency as private construction companies did much of the actual work.
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Civil Works Administration (CWA)
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Short-lived agency that provided jobs on public works projects. Some call it "workfare".
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Security and Exchange Commission (SEC)
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Set up to regulate the stock market and to limit illegal or insider trading.
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devalue the dollar
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Value of the dollar in gold was decreased from face value to .59 1/2 cents. Made it easier for people in debt to pay back what they owed and to create inflation. Also made Americans want to spend it.
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FDIC
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Insured all bank accounts for up to $5,000. Got people to return their money to the banks.
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Glass-Steagall Act
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Set up strict rules separating commercial and investment banking.
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Black Cabinet
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African American leaders that FDR invited to advise him.
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Mary McLeod Bethune
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One of the members of the Black Cabinet. A champion of racial equality.
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Indian New Deal
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Developed by John Collier to give Indians economic assistance, better control of their own affairs, control over the Native American land.
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New Deal coalition
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Group of groups of Americans that gave the Democratic party a majority in both houses of Congress. (southern whites, women, northern blue-collar workers, poor midwestern farmers, African Americans, etc.)
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welfare state
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A government that takes responsibility to provide for the welfare of children, the poor, elderly, sick, disabled, and unemployed. Need huge amount of taxes to pay for this, however...
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Frances Perkins
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The first female Cabinet member in history. The Social Security Act was drafted under her.
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