5/25/23 Chapter Test Flashcards
buyers of stocks pay 10% of the cost of the stock when they make the purchase.
On Margin
the period of economic hard times following the Stock Market Crash lasted 1929 - 1941
Great Depression
unable to pay debts
Bankrupt
places where the hungry could get a free meal
Soup Kitchens
projects built by the government for public use
Public works
clusters of shacks where the homeless lived
Hoovervilles
group of veterans that marched at Washington D.C. during the depression waiting for their Bonus Payment from WWI (Bonus Expeditionary Force)
Bonus Army
panicked traders sold 13 million shares of stock on October 24, 1929
Black Thursday
stock prices fell drastically and there were no buyers for the stock October 29 1929
Black Tuesday
a person is responsible for themselves (Hoover’s Policy)
Rugged Individualism
helped the poor and unemployed set up Soup Kitchens
Young Men’s Christian Association
reduce unemployment and increase purchasing power through the construction of highways and public building ($500 million was put in) and built Boulder Dam
Public Works Program
Hoover’s new govenment sponsored financial institution whose purpose lend to banks and financial institutions. $2 Billion was lent
Reconstruction Finance Corporation
banks were closed for 4 days by FDR during the depression
Bank Holiday
FDR’s comforting chats by a fire during the Great Depression
Fireside Chats
the first 100 days of FDR’s presidency where 15 laws were passed
Hundred Days
the program of FDR to end the Great Depression (Relief, Recovery, Reform)
New Deal
a process by which a union representing a group of workers negotiate with management for a contract
Collective Bargaining
a sum o money paid to people on a regular basis after they retire
pension
spending by government greater than its income
deficit spending
the total amount of money that the government of a country owes to companies countries etc
National Debt
he 32nd president who helped the U.S. get through the Great Depression and proposed the New Deal
FDR
senator from Louisiana AKA “Kingfish”who believed that the rich should be heavily taxed
Huey Long
California Doctor who proposed that everyone over 60 should get a $200 pension each month
Francis Townshend
priest from Detroit who criticized FDR for not taking action against banker and rich investors
Charles Coughlin
a group of very smart people who helped FDR plan his New Deal
Brain Trust
first woman to hold cabinet post - secretary of labor
Frances Perkin
would decide which banks were safe to re-open
Emergency Banking Act
1933 headed by Harry Hopkins (social worker). Employed single men from 18 to 25 to plant trees, build bridges and parks earning $1 a day
Civilian Conservation Corperation
1935, Harry Hopkins’ idea to build hospitals, schools, parks, playgrounds, and airports
Works Progress Administration
Built the Grand Coulee Dam in Washington
Public Works Administration
paid farmers to not grow certain crops - smaller harvest - higher prices (supply and demand principle)
Agricultural Adjustment Act
loaned money to extend electrical lines to rural areas
Rural Electrification Administration
dust storms due to severe drought from Texas to the Dakotas for 5 years
Dust Bowl
moved from job to job (farming jobs)
migrant workers
group of black leaders, unofficial group of advisors to the President
Black Cabinet
the rights due to all people (voting)
civil rights
1924 Native Americans were granted citizenship
Indian New Deal
supported organized labor movement, civil rights unit, and worked tirelessly for the poor
Eleanor Roosevelt
educator for the Black Cabinet who worked for a Florida College
Mary McLeod Bethune
black singer who wasn’t allowed to sing, at the Daughter s of the American Revolution friends with Eleanor Roosevelt
Marion Anderson
commissioner of Indian Affairs
John Collier
wrote “Grapes of Wrath” about migrant workers
John Steinbeck
Harvard Economist form the Black Cabinet
Weaver
state department of the Black Cabinet
Ralph Bunche
white photographer who took pictures of poor farmers
Margaret Bourke
took griping photos of migrant workers
Dorothea Lange
head of mine workers who broke away from the AFL, and formed the CIO
John Lewis
strike where groups of people take unauthorized possession of a work place by sitting down and stop all machines + refuse to leave the factory
Sit Down Strike
it protected workers from unfair management practices, allowed collective bargaining, and set up minimum wage
Wagner Act/National Labor Relations Act
head of the garment workers apart of the CIO
Dubinsky
came up with sit down strikes and social security it broke away from the AFL which it only used skilled workers
Congress of Industrial Organizations
head of the needle workers apart of the CIO
Hillman
established minimum wage ($.25/hour) , overtime pay (over 44 hours), youth employment standards etc
Fair Labor Standards Act
