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46 Cards in this Set

  • Front
  • Back
1920s Politics
Harding, Coolidge, and Hoover were Presidents.
*Normalcy
*Harding Cabinet Scandals
*Mellon's Tax Reductions
*Economic Boom
*Washington Disarmament Conference
*Dawes Plan of 1924
*Kellogg-Briand Pact
*Hoover elected President
*Stock Market Crashes
Herbert Hoover
Republican president elected in 1928. After claiming that poverty would be banished from the nation, the Stock Market crashed in 1929 within four months in office.
Bull Market
A financial market of a group of securities in which prices are rising or are expected to RISE.
Values of stocks continued to increase during the 1920s.
On Margin
Borrowing money to purchase stocks on a low down payment
Speculation
The process of selecting investments with higher risk in order to profit from an anticipated price movement.
Overspeculation
Investors took heavy gambles on hoping that the prices would rise, forcing artificial rises, which led to Bust.

Hoover unsuccessfully tried to curb this with the Federal Reserve Board.
Black Tuesday
October 29, 1929

Word got around that prices were going to go down, everyone tried to sell withing hours, but it was too late. The stock market crashed.

Blamed for Great Depression, but direct connection never proven.
Factors of the Great Depression
Weak Industries
Overproduction
Underconsumption
Uneven distribution of income
Unstable banking system
Weak international economy (Tariffs)
Hawley-Smoot Tariff of 1930
This was the highest peace-time tariff in US history, causing foreign nations to retaliate by cutting trade through their own tariffs.
Hoovervilles
AKA shantytown, this was the popular name for unused or public lands on which shacks were built named and blamed after the President.
Dust Bowl
Soil erosion, drought, dry weather, and high winds caused this period of dust storms that worsened the economic depression for many midwest farmers.
Okies
Migrants from Oklahoma who moved West to California, living in makeshift roadside camps and in homelessness
Public Works
Government-financed building projects
Relief
Money that went directly to impoverished families
Bonus Army
WWI Veterans who marched on to Washington DC in support of legislation that would grant them $1000 bonuses early, after the act failed in the Senate, Hoover tried to clear them away from the city, upsetting many Americans.
Franklin Delano Roosevelt
He was a former state senator, assistant sec. of navy, vice-presidential candidate, and NY governor before becoming the Democratic president in 1932, defeating Hoover and advocating a "New Deal."
The Hundred Days
Congress passed 15 major acts to meet the economic crisis at a record pace between March 9 and June 16, 1933.
New Deal
The name that FDR gave to a sequence of central economic planning and economic stimulus programs he initiated between 1933 and 1938 with the goal of giving aid to the unemployed, reform of business and financial practices, and recovery of the economy during The Great Depression.
Fireside Chats
Direct talks by FDR to the American people via radio advocating his policies.
Alphabet Agencies
As a part of the new deal, Congress spawned dozens of acts and agencies. Many of these recovery agencies had long names and therefore became known by their initials.
Civilian Conservation Corps

CCC
March 1933
Employed single men, ages 18-25, for natural resource (forestry) conservation
Tennessee Valley Authority

TVA
May 1933
Built hydroelectric plants and dams aimed at improving 7 Southern states and attracting industry to the South
(Still exists today.)
National Industrial Recovery Administration

NIRA
June 1963
This set codes of "fair competition," regulated hours, wages, and prices.
Deemed unconstitutional by the Supreme Court
Home Owners' Loan Corporation

HOLC
This agency bought the mortgages of many homeowners and restructured them with lower terms of repayment and interest rates.
Agricultural Adjustment Act

AAA
May 1933
Reduced agricultural surplus and raised prices for struggling farmers

Deemed unconstitutional by Supreme Court
Federal Emergency Relief Agency

FERA
May 1933
Granted federal money to state and local governments to be used to help the unemployed
Federal Deposit Insurance Corporation

FDIC
June 1933
Guaranteed bank deposits up to $2,500
Public Works Administration
PWA

Civil Works Administration
CWA
June 1933, Nov 1933 (Respectively)

Provided employment in construction of airports, parks, schools, and roads
Securities and Exchange Commission

SEC
June 1934
Regulated the stock market to avoid dishonest practices
Sen. Huey Pierce "Kingfish" Long
Former governor and then-senator from Louisiana, he organized a "Share Our Wealth" campaign to supply each family with $5k. As governor, he improved education and infrastructure. He was assassinated before the 1936 election, where he was a threat to Roosevelt's seat.
Father Charles Coughlin
He was a Catholic priest in Detroit who, on his radio show, initially supported Roosevelt's New Deal, but then became impatient as they were too "moderate."
Second New Deal
Another series of programs and reforms that FDR hoped would speed up the nation's recovery from the Great Depression.
Works Progress Administration

WPA
April 1935*

Combated unemployment; created jobs throughout the economy
Rural Electrification Administration

REA
1935*
Brought electricity to isolated agricultural areas
Social Security Administration

SSA
August 1935*
Created unemployment system, disability insurance, old-age pension, and child welfare benefits
Public Utility Holding Company

PUHC
1935*
Eliminated unfair practices and abuses of utility companies
Banking Act of 1935
1935*
Strengthened the Federal Reserve
National Labor Relations Board

NLRB
July 1935*
Passed by the NLR Act or Wagner Act, it guaranteed workers the right to organize unions without interference from employers and to bargain collectively.
Court-Packing Plan
Furious that the Supreme Court overturned several of his New Deal programs, he attempted to increase its size by adding a new justice for every unretired member aged 70 and up until there were 15 members. This failed in Congress and ended up hurting FDR's reputation.
Committee for Industrial Organization

CIO
1935*
Organized industrial unions, skilled and unskilled, under the Wagner Act
National Youth Administration
June 1935*
It provided work training based on U.S. citizenship and financial need for youth between ages sixteen and twenty-five.
Deficit Spending
Borrowing money to pay for programs after abandoning a balanced budget. FDR began this in late 1934.
Safety Net
Safeguards and relief programs that protected people from economic disaster. This was a result of FDR's New Deal programs.
Relief
Short Term

CCC, WPA, PWA, FERA, NYA
Recovery
Medium Term

NRA, EBRA, AAA
Reform
Long Term

SSA, FDIC, Wagner Act, TVA, FHA, SEC, REA, Fair Labor Standards Act, Indian Reorganization Act