Great Depression & New Deal Flashcards
rugged individualism
the idea that one can help themselves out of their own troubles;
philosophy used by President Hoover putting the ownership of getting out of the depression on oneself and not expecting the government to help out
Stock Market
an exchange where trading is conducted by stockbrokers and where company stocks are bought and sold
Buying on Margin
borrowing money to buy stocks.
Hoovervilles
shanty towns that the unemployed built in the cities during the early years of the depression;
the name given to them shows that the people blamed Hoover directly for the depression
Dust Bowl
drought during the 1930s where the soil was so dry it blew away in great clouds of dust
Fireside Chat
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
New Deal
series of new laws and programs introduced by president Roosevelt during depression to create jobs and improve the economy.
Franklin Roosevelt - FDR
became the United States president in 1933;
his program to alleviate the problems of the Great Depression became known as the “New Deal” and he remained president through WWII
Herbert Hoover
leader of the U.S in the beginning of the Great Depression.
He didn’t want the gov involved in the peoples lives;
Overspeculation
when a stock becomes worth more than its value;
led to Great Depression
Federal Deposit Insurance Corporation -
(FDIC) government
guaranteed bank deposits; protected people’s savings
Social Security Act -
created a government benefits program to help elderly, disabled, and retired;
increased government’s responsibility
Roosevelt’s court packing plan -
increased the number of Supreme Court justices;
response to rejection of some New Deal programs;
many disliked because it increased power of president
22nd Amendment -
limited a president to serve only two terms;
passed in response to FDR serving four terms
