Great Depression / New Deal Flashcards

1
Q

Black Tuesday

A

Oct. 29, 1929: The day the stock market prices dropped sharply / crashed.

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2
Q

Dust Bowl

A

Caused by drought, high winds, over production of crops.

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3
Q

Bonus Army

A

Group of WWI vets and their families that marched to D.C. in 1932 to demand the immediate payment of their government war bonuses in cash

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4
Q

New Deal

A

FDR’s program to help fight problems of the Great Depression. 3 R’s: Relief for the needy, Recovery for the economy, Reform for financial institutions.

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5
Q

Court Packing Scheme

A

failed plan by FDR to increase number of Supreme Court Justices from 9 to 15

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6
Q

buying stock on margin

A

Borrowing money to buy stock

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7
Q

unemployment rate

A

Peak unemployment rate during Great Depression was 25%. Even with New Deal program, it was as high as 14%.

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8
Q

Hooverville

A

shantytowns (areas of shacks or makeshift dwellings) built by destitute people during Depression. Called Hoovervilles bc the people blamed him for not helping.

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9
Q

Dr. Francis Townsend

A

1st supported FDR but then became a critic bc the New Deal didn’t help elderly. Inspired FDR to make Social Security. Created revolving pension plan. Supported by 2% tax. Every person over 60 gets $200 monthly (retired) and had had to be free from habitual criminality. Had to spend $ within a month to stimulate economy.

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10
Q

Father Charles Coughlin

A

Became famous bc he starts one of the 1st radio shows. Originally an FDR supporter, he later became a critic bc he felt FDR was controlled by the Jewish (he was a strict Catholic)

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11
Q

Main causes of the Great Depression

A

availability of easy credit, overproduction of food, crisis in farm sector, stock market crash

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12
Q

Differences in Hoover’s approach and FDR’s approach?

A

Hoover: Gov. should play limited role. People should help themselves, and stock market will fix itself. FDR: Gov. should play a large role, should help people.

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13
Q

Criticism of New Deal from left and right?

A

Left: not far enough. Right: too far

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14
Q

Short and long term effects of the Great Depression:

A

Short: Children and adults had poor diets, homelessness, unemployment

Long: people developed saving habits, became more thrifty

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15
Q

What did Huey Long’s “Share our wealth” plan call for?

A

Heavily taxing the rich and giving it to the poor.

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16
Q

FDIC

A

Federal Deposit Insurance Corporation: protected bank deposits up to $5,000 (today, up to $250,000) Benefited people using banks, did not benefit people not using banks. Criticism: It didn’t protect all the $ if more than $5,000 deposited.

17
Q

NIRA

A

National Industrial Recovery Act: raised prices, set min. wage, bargaining rights. Benefited individuals and businesses. Criticism: failed to make sufficient dent in unemployment., the rules were very complicated, too much control. (we have unions today)

18
Q

AAA

A

Agricultural Adjustment Act: raised farm prices by lowering production, helped farmers. Criticism: many protested destruction of food when so many were going hungry. Farmers still do this today, but with a diff organization

19
Q

TVA

A

Tennessee Valley Authority: focused on depressed Tennessee River Valley. They reactivated hydroelectric power facilities. Helped farmers and people in the area, gave lots of jobs to people. Criticism: it was emblem of big gov. It is a model of gov. planning.

20
Q

WPA

A

Works Progress Administration: improved playgrounds, schools, supported artists, helped 8 million citizens, entertained people and future generations. Criticism: too expensive, too much gov.

21
Q

NYA

A

National Youth Administration: provided work for 14-25 unmarried males. Criticism: it didn’t help females, or older/younger males(too exclusive) too expensive. Also, the public facilities are still around today

22
Q

CCC

A

Civilian Conservation Corps: male workers helped with restoration projects, environmental. Helped young unmarried 18-25 males. They got meals, beds, etc for free. Made around $20 that they sent back home. Criticism: little money, didn’t allow women

23
Q

FSA

A

Farm Security Administration: loaned $10 billion to set up camps, helped farmers, hired photographers (Dorothea Lange became famous for her photography). Saved farms. Loaned money to help farmers become landholders. *Came after AAA was deemed unconstitutional

24
Q

SEC

A

Securities and Exchange Commission. Supervised the stock market and eliminated dishonest practices. Benefited people investing in stock. Didn’t benefit dishonest people. Didn’t help people who didn’t invest in stock

25
Q

Wagner Act

A

AKA National Labor Relations Act: named after Robert Wagner. Ensures the rights of workers, bargain collectively. Benefited workers. Criticism: Employers couldn’t spy on employees. Also, unionised workers still around

26
Q

Social Security

A

Old-age pensions for workers; survivors benefits. Helped old people, victims, mothers and children, blind, physically disabled. Did not cover farm workers. Still around today. Most impactful act today. Inspired by Dr. Francis Townsend, who created the revolving pension plan “Townsend Plan”