Great Depression/FDR/New Deal Flashcards
Legally organized company
Corporation
Great Plains farmers, minority, discriminated against
Oakies
A period of severely reduced economic activity, sharp rise in unemployment
Depression
A way of gambling with short term investments
Speculation
Payment to a share holder
Dividend
When people went to the banks in a PANIC to withdrawal all their money, banks did not have enough money to give everyone all their money so many people went mad
Bank run/ panic
Public buying of corporations
Stock market
A temporary shut down of operations, in effect closing all state banks
Moratorium
Government charity
Dole
Financial assistance
Subsidy
Formation of unions
Unionization
A leader who gains power by appealing to people prejudices and fears rather than reason
Demagogue
Prejudicial treatment
Discrimination
The expansion of the federal government in almost all aspects of people’s lives, was a direct legacy of the new deal
Federal regulation
FDR instating that there should be 6 more judges in the Supreme Court, people saw that it was his way to get them to swing their vote his way
Court packing
Government spending money creating jobs which leads to more spending on which adds to more jobs
Prime pumping
Did not own their own land, they farmed, vulnerable to changes in farm economy, paid rent to farm, will suffer A LOT
Tenant farmers
Paying only a fraction of a stocks dollar value
Buying on MARGIN
Who was Charles E. Coughlin and what were his ideas?
Roman Catholic priest, against Jew because they ran banks, didn’t support Roosevelt, wanted to run banks like the post office
Who was Huey P. Long, what was his idea and what happened to him?
Senator of Louisiana, made himself in charge of all of Louisiana, was governor then senator, wanted to be prez, opposed FDR, abolished Louisiana government, take people with millions of dollars and give everyone 5 thousand dollars, he was assassinated
Part ownership of company
Share
Signs of economic distress
Recession
Frances Perkins
Secretary of labor
First female cabinet member
John Collier
Commissioner for the Indian reorganization act
Harold Ickes
Secretary of interior
Management and conservation of federal land
(Dr.) Francis Townsend- What idea did he come up with? Why was it defeated by congress?
Every person over the age 60 would be asked to retire, freeing up jobs for younger people. They would get a $200 pension per month if they spent it all in 30 days. His plan was defeated by Congress because it was too much to manage that everyone spent all their money
Mary McLeod Bethune
Head of the NYA(National Youth Administration)
Black female woman
Franklin D. Roosevelt
Disease- polio
Years he was prez- 1933-1945
Fireside chats- 30 happened, to assure the public and tell them what was happening
J.P. Morgan
Black Thursday happens and Richard Whitney calls J.P. Morgan in New York and JP says don’t worry and they put money into the stock market to keep it up but things start to slide on Monday and then black Tuesday happened
1930s culture
Comics-Tarzan 1929, dick Tracy 1931, Flash Gordon 1930, Lil Abner 1934, and superman 1938
Stock market crash – Black Tuesday – Black Thursday
October 24, 1929 – Black Thursday falling prices at stock market. Problem for margin buyers. October 29, 1929 Black Tuesday, worst day in the history of New York Stock Exchange, many shares loss. Triggered nationwide business depression, worldwide problem. 1931 bank panic (bank run)
3Rs of FDR presidency
Relief- agencies that helped soup kitchens
Recovery-work projects, get unemployed doing something
Reform-re-organization of banks and the stock market
Dust bowl
1931 through 35 severe drought. George geiger came up with dust bowl/black blizzard, he visited the great plains, huge infestation of grasshoppers and jack rabbits. Great plains used to be covered in thick long rooted grass but after the Louisiana purchase when everybody started farming, sodbusters plowed away all the natural growth
Men deserting families
Men were supposed to take care of the family, most left and never came back when looking for work.
1930s radio and controversy
Radios in the 1930s were a substantial piece of furniture. Granted an honored place in the living room it was the social focus at gatherings. it was a large communication towards the outside world. House wives while she did her house work and the children played around at night
FDR’s VPs
John Garner, Henry A. Wallace, Harry S. Truman
5 Causes of the Great Depression
Stock market-buying on margin allowed people to gamble their money but it also created a bubble which popped
Federal Reserve Bank- supposed to oversee other banks, did not help the banks
Farmers- losing money because over flow so we all lose money
Factories
Wages- not keeping up with the cost of items, had to lay off people, $2000 a year to live when they got paid 2,300 a year
“Black blizzard”
Dust storm when it rains creating dust balls
Term was from Robert Geiger
Electricity
The car opened up a gateway to more and more household appliances, after electricity had been wired into homes, government programs brought electricity to remote regions of the country, the refrigerator by far was the most sought after new appliance, The washing machine also became a popular appliance instead of bending over tubs of scalding water and washing you could be done faster
Changes in movies
Colors and sound were added to movies but that also made the actors stiff because they couldn’t move away from the microphones
Hooverville’s in all things Hoover (sarcasm)
Hooverville’s- built out of whatever they could find to make shacks
Hoover blankets-newspapers
Hoover flags-Pant pockets pulled out
Hoover hogs-whatever they could find to eat often groundhogs
Hoover wagons-cars that ran out of gas or broke down that were pulled by horses or oxen
Unemployment
In 1929 unemployment was at 5% in 1932 it was almost 25%
NIRA
National industrial recovery act, passed on June 16, 1933, relax the antitrust laws of the early 1900s and called for business leaders to confirm and establish code set to quality standards, production levels, prices, maximum work wages and hours. It also declared that workers should be allowed to organize labor unions and to bargain collectively
CCC
Civilian conservation corpse. Young men 18 to 25. Employed young men in environmental projects, useful outdoor work, stock lakes and rivers, converse natural resources plants and trees
SEC
Federal securities act. People who purchased stock were benefited. License to regulate stock exchange, require data on stock and bonds. regulate activities of investment advisors, persecute fraud, fix margin requirements
WPA
Works progress administration, $5 billion for relief program, work for able-bodied unemployed people, build roads bridges and public buildings
REA
1935 lent money to farmers who organized to build power plants, provided electricity to farms
FDIC
Federal deposit insurance Corporation, to ensure bank deposits in all member banks, with this insurance people regain confidence that their money would be safe in FDIC banks
TVA
Helped farmers in Tennessee, Kentucky, Georgia, Virginia, North Carolina, and Alabama. Provided funds for the development and electrification of Tennessee. River Authority build dams to generate electricity, this lead to better homes, schools, and hospitals, refused to hire African-Americans
NYA
National youth administration the head of it was Mary Mcloyd the same, worked for those 16 to 25, employed 150,000 in one year, now known as job corps
Wagner act
NLRAct. 1. Restored right to join unions got rid of NIRA
2. Set up NLRB Samual Gompers oversaw elections, CIO (Congress of industrial organization) expelled AF of L, AF of L(American Federation of labor), stop unfair practices by employers
Social Security – 3 parts
- pension (social insurance) was instituted, paid tax while working to receive money when too old to work
- Public assistance (federal and state programs) gave benefits to the elderly, dependent children, and the blind
- Unemployment (federal and state programs) gave monthly payments, payroll tax deduction, collect when laid off
New deal programs that were deemed unconstitutional
NIRA because unconstitutional gave executive branch too much power
AAA because Unconstitutional taxation improper method of regulating agricultural production
Indian reorganization act
ADVANTAGES- Promote Native American culture, John cooler was the commissioner, preserve tribal ownership of reservations, give Native Americans control of reservations, describe how to manage lands
DISADVANTAGES- discrimination, deprivation, degrading policies, average income was about $48 per year
Legacy of the new deal
More expensive government then we had in the past, job core because of NYA, money in the bank is insured up to $100,000 or so
Route 66
Mother Road,
20th Amendment
1933 “lame duck amendment”, prez who is on his way out that cannot get anything done, presidential inauguration move from March to January
21st amendment
Repealed the 18th amendment, 1933, alcohol is allowed in the US
“grapes of wrath”
John Steinbeck wrote, Okies not only from Oklahoma came from his book, his book basically summed up life in the 1930s for somebody moving to California
“gone with the wind”
Book that was very popular in the depression fined by the Hays office for profanity in the last line saying damn, very popular movie
How did the radio become the pattern for television programming?
Radio programming in the 1930s set a pattern that television and follow for years. Daytime radio including soap operas, panel discussions, and quiz shows designed to appeal to women working at home. During the late afternoon, children’s programs came on. Adventure stories, such as the Lone Ranger and Superman, originated in the 1930s and captured Young audiences well into the 1950s. The evening was reserved for news programs, variety shows, comedy hours, Dramatic presentation that plays, and live musical performances. This is how radio let the way to television programs.
What was the impact of the new deal on minorities?
Tenant farmers The new deal created the AAA which did farmers more harm than good. To reduce the amount of crops that would be produced The AAA paid Land owners to let some of their land lie unused technically the landowners were supposed to divide their AAA checks with their tenant farmers in reality however few landowners confide with this and many men lost their jobs
Women-in his first term president Roosevelt appointed the first woman in the United States history to a cabinet post, his wife was very persistent on the movement of women being equal and worked very hard so that FDR would have more women in the office
African-Americans-in the 1934 election They switch their alliance from Republican Party to Democratic Party, they did this to support Roosevelt and the new deal the black cabinet happened, FDR he did this after the Harlem Renaissance to get the perspective of their views
Native Americans-The new deal agencies provide a native Americans with jobs in eight the most significant program towards them was the Indian may organization act of 1934 this act further these goals by preventing the government from seizing unclaimed reservation land in selling it to people who are not native American, government seizure of territory have been going on since the late 1800s did Americans gain control of the reservations and could decide how their land would be used and managed
