Great Depression And The New Deal

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Great Depression

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was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s. It was the longest, most widespread, and deepest depression of the 20th century. In the 21st century, the Great Depression is commonly used as an example of how far the world's economy can decline. The depression originated in the U.S., starting with the fall in stock prices that began around September 4, 1929 and became worldwide news with the stock market crash of October 29, 1929 (known as Black Tuesday). From there, it quickly spread to almost every country in the world.

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Black Tuesday

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was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and duration of its fallout. The crash signaled the beginning of the 12-year Great Depression that affected all Western industrialized countries and that did not end in the United States until the onset of American mobilization for World War II at the end of 1941.

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Dust Bowl

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or the Dirty Thirties, was a period of severe dust storms causing major ecological and agricultural damage to American and Canadian prairie lands from 1930 to 1936 (in some areas until 1940). The phenomenon was caused by severe drought coupled with decades of extensive farming without crop rotation, fallow fields, cover crops or other techniques to prevent erosion. Deep plowing of the virgin topsoil of the Great Plains had displaced the natural deep-rooted grasses that normally kept the soil in place and trapped moisture even during periods of drought and high winds.

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Gross National Product

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s the market value of all products and services produced in one year by labor and property supplied by the residents of a country. Unlike Gross Domestic Product (GDP), which defines production based on the geographical location of production, GNP allocates production based on ownership.

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Herbert Hoover

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was the 31st President of the United States. Hoover was a professional mining engineer and author. As the United States Secretary of Commerce in the 1920s under Presidents Warren G. Harding and Calvin Coolidge, he promoted partnerships between government and business under the rubric "economic modernization".

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Franklin D. Roosevelt

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also known by his initials, FDR, was the 32nd President of the United States and a central figure in world events during the mid-20th century, leading the United States during a time of worldwide economic crisis and world war. The only American president elected to more than two terms, he forged a durable coalition that realigned American politics for decades.

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20th Amendment

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establishes the beginning and ending of the terms of the elected federal offices. It also deals with scenarios in which there is no President-elect. The Twentieth Amendment was ratified on January 23, 1933.

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New Deal

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is a series of economic programs implemented in the United States between 1933 and 1936. They were passed by the U.S. Congress during the first term of Franklin Delano Roosevelt as President of the United States, which lasted from 1933 to 1937. The programs were responses to the Great Depression, and focused on what historians call the "3 Rs": relief, recovery, and reform.

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Frances Perkins

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was the U.S. Secretary of Labor from 1933 to 1945, and the first woman appointed to the U.S. Cabinet. As a loyal supporter of her friend, Franklin D. Roosevelt, she helped pull the labor movement into the New Deal coalition.

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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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FDIC

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Federal Deposit Insurance Corporation (FDIC) is a United States government corporation created by the Glass–Steagall Act of 1933. It 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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Public Works Administration

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(PWA) was part of the New Deal, or 100 hundred days plan agency in the United States headed by Secretary of the Interior Harold L. Ickes during President Roosevelt's time in office. It was created by the National Industrial Recovery Act in June 1933 in response to the Great Depression.

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Civilian Conservation Corps

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(CCC) was a public work relief program in the United States for unemployed, unmarried men, ages 17–25, between 1933-42. A part of the New Deal of President Franklin D. Roosevelt, 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. The CCC was designed to provide employment for young men in relief families who had difficulty finding jobs during the Great Depression

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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 non-delegation doctrine and as an invalid use of Congress' power under the commerce clause. Notably, this was a unanimous decision that declared unconstitutional the National Industrial Recovery Act, a main component of President Roosevelt's New Deal.

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Securities Exchange Commission

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(SEC) 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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Second New Deal

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is the term used by commentators at the time and historians ever since to characterize the second stage of the New Deal programs of President Franklin D. Roosevelt. In his address to Congress in January 1935, Roosevelt 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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Works Progress Administration

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Work Projects Administration; WPA) 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, and operated large arts, drama, media, and literacy projects. It fed children and redistributed food, clothing, and housing. Almost every community in the United States had a park, bridge or school constructed by the agency, which especially benefited rural and Western populations.

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Wagner Act 1935

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is a 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, and take part in strikes and other forms of concerted activity in support of their demands. The Act does not apply to workers who are covered by the Railway Labor Act, agricultural employees, domestic employees, supervisors, federal, state or local government workers, independent contractors and some close relatives of individual employers.

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Social Security Act 1935

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he Social Security Act was drafted during Roosevelt's first term by the President's Committee on Economic Security, under Frances Perkins, and passed by Congress as part of the New Deal. The act was an attempt to limit what were seen as dangers in the modern American life, including old age, poverty, unemployment, and the burdens of widows and fatherless children. By signing this act on August 14, 1935, President Roosevelt became the first president to advocate federal assistance for the elderly.

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Huey Long

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nicknamed The Kingfish, served as the 40th Governor of Louisiana from 1928–1932 and as a U.S. Senator from 1932 to 1935. A Democrat, he was noted for his radical populist policies. Though a backer of Franklin D. Roosevelt in the 1932 presidential election, Long split with Roosevelt in June 1933 and allegedly planned to mount his own presidential bid for 1936.

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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 (UMW) from 1920 to 1960. A major player in the history of coal mining, he was the 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. After resigning as head of the CIO in 1941, he took the Mine Workers out of the CIO in 1942 and in 1944 took the union into the American Federation of Labor (AFL).