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41 Cards in this Set

  • Front
  • Back
bull market vs. bear market
upward trend in stocks vs. downward trend in stocks
margin buying
buying stocks with borrowed money (only safe in a bull market, if crash- no money to pay back loans)
stock speculation
quick buying/selling of stocks, leads to increase in stock prices (inflation)
Gross National Product (GNP)
total value of all goods and services produced by a country in a given year
Smoot Hawley Tariff
1930, highest tariff in history, 50% duties, stopped international trade with US
Business Cycle
good times-surplus (cutbacks on productivity, labor)-recession-depression-surplus used up
rugged individualism
Hoover's response to depression, success comes through individual effort and private enterprise
farmers affected by depression
decreased crop prices, foreclosures, had to destroy crops and livestock
Josefina Fierro de Bright
organized against discrimination of Mexicans in SW, led marches and strikes
families affected by depression
malnutrition, less marriage, birthrate dropped, divorce increased, education decreased
actions taken by Hoover administration
stimulating economy- encouraged revival of biz, coping with farm crisis- Agricultural Marketing Act (bough surplus), Reconstruction Finance Corp- lent money to companies
Election of 1932
fair distribution of wealth, optimism, would incur debt to ease suffering
Roosevelt's New Deal
programs for helping the US economy during depression- reform, relief, recovery
Reform
bank holiday, examination of banks, bank insurance, low interest on long term loans, mortgage payments
Relief
FERA- handouts, CCC, CWA, PWA- jobs, Agricult. Adjust. Act= subsidize farmers, TN Valley Authority= 8 states, make work program, improvement
Recovery
reduce unemployment, stimulate economy, PWA- big jobs, Nat'l Recovery Act= businesses work together, set wages/hrs/etc.
Emergency Banking Act
gov't examined all banks, only allowed financially sound ones to reopen, urged ppl to invest in banks
Federal Deposit Insurance Corporation
ensured bank deposits up to $2500
Securities & Exchange Commission
prevent abuses and frauds, restored confidence in stock market and banks
Federal Emergency Relief Administration
gave direct handouts
Farm Credit Administration
provided low interest, long term loans to farmers, could pay off mortgages, taxes, purchase land/equipment
Home Owners Loan Corporation
help home owners who wouldn't meet mort. payments
Make work programs
Civilian Conservation Corps, Civil Works Admin, Public Works Admin
Agricultural Adjustment Act
deemed unconstitutional, subsidize farmers, pay them not to produce, supply goes down, prices go up- hurts consumer
National Recovery Act
deemed unconstitutional, businesses work together to set prices/wages/etc.- worker/consumer hurt, monopolies
Tennessee Valley Authority
revitalized 8 state region, make work program that improved region- damns, electricity, schools, hospitals
Indian Reorganization Act
revived tribal rule, funds to start tribal biz, pay for college of young NAs, promote study of NA culture
critics of FDR
Townshend (grant pension to elders), liberals (not doing enough), ALL (pro-biz), Coughlin (Jews out of banks), Long (Share our Wealth, tax rich)
2nd New Deal
more public work programs, labor reforms, long term reform
Works Progress Admin
women/blacks not equal, NYA, created jobs, paid for kids to stay in school
Mary McLeod Bethune
black cabinet, director of Division of Negro affairs of NYA
Social Security Act
unemployment insurance, pensions, death benefits
Election of 1936
democrats, working class support
FDR wants more judges on supreme court
b/c several new deal measures deemed unconstitutional
Wagner Connery Act
pro labor, labor's right to organize, union membership up
2nd new deal and farmers
good- loans, migrant camps, bad- less farm production
Dust Bowl
severe drought in great plains, winds picked up dry topsoil
Okies
migrant workers from Oklahoma
Dorothea Lange
FSA photographer, took pictures of American struggles
Federal Project Number 1
encourage pride in American culture by providing work to artists, writers, actors, musicians
regionalists
midwestern artists that stressed local folk themes and customs