Chapter 33 - The great Depression and the New Deal, 1933-1939 Flashcards
Franklin Delano Roosevelt
American statesman and political leader who served as the 32nd President of the United States from 1933 until his death in 1945.
Eleanor Roosevelt
-American statesman and political leader who served as the 32nd President of the United States from 1933 until his death in 1945.
New Deal
The New Deal was a series of programs, including, most notably, Social Security, that were enacted in the United States between 1933 and 1938. Response made by FDR to The Great Depression
Banking Holiday
From March 6 to March 10, banking transactions were suspended across the nation except for making change. This followed the stock market crash that spurred on bank runs.
Hundred Days
The House and the Senate met for 100 days between March-June 1933. FDR’s new deal which changed the way American government operates., March 9th to June 16th 1933. Congress passed more then 15 pieces of legislation. Laws and others that followed that expanded the federal governemnts role in the nations economy
Three R’s
Created by FDR; a plan to bring about the recovery of the United States from the effects of the Great Depression:
Relief-relieve the suffering of those hit by the depression,
Recovery- help the economy recover, and
Reform-reforms areas that caused the depression
Fireside Chats
The informal radio conversations Roosevelt had with the people to keep spirits up. It was a means of communicating with the people on how he would take on the depression.
Glass-Steagall Banking Reform Act
Act that provided for the FDIC (1933) and separated consumer banks (where we keep our money) and investment banks (which buy and sell stocks to make profits)
Federal Deposit Insurance Corporation
Created by the Federal Deposit Insurance Corporation, insured individual deposits up to $5000, thereby decreasing the amount of bank failures and restored faith in the banks. Created by Glass-Steagall Reform Act. It insures up to $100,000 for bank deposits, thus helping put faith back into the banks.
Managed Currency
Any currency that can have its exchange rate affected by the intervention of a central bank.
Pump Priming
Pump priming is the action taken to stimulate an economy, usually during a recessionary period, through government spending, and interest rate and tax reductions.
CCC
The Civillian Conservation Corporation Provided employment in fresh air government camps for about 3 million workers, which helped in reforestation, firefighting, flood control, and swamp drainage. Income were mandatorily sent back to their parents. Critiics of this policy called it “militarizing” nation’s youth
FERA
Federal Emergency Relief Administration (1933)- Relief, Recovery- Combined cash relief to needy families with work relief; superseded in early 1935 by the extensive work relief projects of the WPA and unemployment insurance established by Social Security.
Harry Hopkins
He was one of Franklin Delano Roosevelt’s closest advisers. He was one of the architects of the New Deal
AAA
Agricultural Adjustment Act reduced agricultural production by paying farmers subsidies not to plant on part of their land and to kill off excess livestock.
HOLC
The Home Owners’ Loan Corporation was a government-sponsored corporation created as part of the New Deal. The corporation was established in 1933 by the Home Owners’ Loan Corporation Act under the leadership of President Franklin D. Roosevelt.
CWA
Civil Works Administration. 1st New Deal agency created by FDR to reduce unemployment during the cold winter months of 1933; it spent $1 billion on short-term projects for unemployed manual laborers but was abolished in the spring of ‘34
Father Charles Coughlin
A Catholic priest from Michigan who was critical of FDR on his radio show.
Huey Long
A presidential candidate in the 1936 election known for his Share the Wealth program. He and other demagogues pushed FDR to move the New Deal to help people directly
Dr. Francis E. Townsend
-A doctor and critic of FDR’s who proposed that everyone 60 years of age or older should get $200 a month as long as they spent it within 30 days.