Great Depression Flashcards

1
Q

Black Thursday

A

Day when stock prices began to fall & leading bankers pooled $30 million to try and bring them back up

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2
Q

Black Tuesday

A

Prices dropped, no real recovery, great depression began

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3
Q

Hawley-Smoot Tariff Act 1930

A
  • Hoover
  • Raised tariffs on 1,000 items
  • U.S. exports & imports dropped 50%
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4
Q

Agricultural Marketing Act

A

Aimed to keep crop prices up

Established by Hoover

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5
Q

Hoover’s Public Works Program

A

Used government money to build roads, buildings, etc.

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6
Q

Reconstruction Finance Corporation

A

Hoover

$2 billion to lend to large corporations

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7
Q

Traditional Methods

A

Hoover wouldn’t give direct hand outs

Made his work less effective on depression

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8
Q

Drought of 1930s

A

From Virginia to Oklahoma

Crops & livestock died of thirst

Hoover’s response - limited

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9
Q

Three R’s

A

Relief

Recovery

Reform

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10
Q

Harold L. Ickes

A

Secretary of the Interior

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11
Q

Henry A. Wallace

A

Secretary of Agriculture

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12
Q

Francis Perkins

A

Secretary of Labor

First woman cabinet member

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13
Q

Brain Trust

A

Informal group of advisors to FDR

Imagination & ability mattered, not government experience

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14
Q

Emergency Banking Act

A

FDR closed all banks

Re-opened as Secretary of Treasury saw fit

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15
Q

Fireside Chat

A

FDR’s radio chat where he explained what he was doing with the New Deal

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16
Q

Glass-Steagall Act

A

Goal - to keep people’s confidence in the banks

Established Federal Deposit Insurance Corporation

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17
Q

Federal Deposit Insurance Corporation

A

Insurance program for banks

Protected depositors in insured banks up to $5000

All members in the FRS required to join

18
Q

Gold Reserve Act 1934

A

Gave President power to reduce the gold backing on the dollar up to 50%

Controlled Inflation

19
Q

John M. Keynes

A

English economist

Justified debt spending

20
Q

Wagner-Steagall Act 1937

A

Established U.S. Housing Authority

21
Q

U.S. Housing Authority

A

Made loans to cities & states to clear slums & build low-cost housing

22
Q

Conservative Republicans

A

Argued New Deal programs did too much & threatened capitalism

Established American Liberty League

23
Q

Radical Republicans

A

Didn’t think New Deal did enough

24
Q

Huey Long

A

Former governor of Louisiana

Radical

“Share the Wealth”

25
Q

Charles E. Coughlin

A

“Radio” Priest

Radical

Thought New Deal was a Communist conspiracy

Anti-Semitic

Eventually censured by Roman Catholic Church

26
Q

Francis Townsend

A

Radical

Old-Age pension plan

27
Q

William Green

A

Lead AF of L

Threatened to oppose FDR in 1936

Dissapointed by NRA

28
Q

Schechter vs U.S. 1935

A

Declared NRA unconstitutional

Overturned other New Deal legistlation

29
Q

Social Security Act

A

Plan for the elderly, public assistance & unemployment

30
Q

Revenue Act of 1935

A

“Soak the Rich” taxes

Largest incomes more heavily taxed

31
Q

Public Utility Holding Company

A

Ensured fair prices for utilities

Gave SEC power to dissolve utility companies charging excessively

32
Q

National Labor Relations Act 1935

(Wagner Act)

A

Guarenteed the right of workers to join unions

Est. NLRB

33
Q

National Labor Relations Board

A

Oversaw union elections

Could stop unfair practices by employers

34
Q

Supreme Court vs New Deal

A

Overturned AAA

Limited powers of SEC

Acted against minimum wage laws

35
Q

Soil Conservation& Adjustment Act

A

Paid farmers to plant soil-conserving crops

36
Q

Government Contracts Act 1936

A

Empowered Secretary of Labor to set minimum wages & max working hours

Prohibited firms from employing girls under 18, boys under 16

37
Q

Alf Landon

A

Republican Candidate 1936

Governor of Kansas

38
Q

Norman Thomas

A

Socialist Candidate 1936

39
Q

William Lemke

A

Union Party Candidate 1936

Combination party of unhappy groups of people

40
Q

Court-Packing Plan

A

FDR proposed to increase justices from 9-15 if justices refused to retire at 70

Opposed by Charles E. Hughes

Rejected by Senate

FDR lost favor of Congress

41
Q

2nd AAA

A

Placed surplus farm products in storage

Goal : stabiliza prices around parity

42
Q

Fair Labor Standards Act

A

Reduced work week to 40 hours

Set minimum wages

Time & 1/2 paid for overtime

Forbid labor by children under 16