Unit 10 Modules 7.7- 7.8 Flashcards
a market (such as a stock market) in which prices are going up. A period of increased stock trading and rising stock prices.
Bull Market
October 29, 1929 crash of the U.S. stock market. This event has historically marked the beginning of the Great Depression, though it was not the depression’s root cause.
“Black Tuesday”
During Hoover’s time, this Raised foreign tariff to 59.1%. This was used to encourage people to buy from U.S. companies (not foreign competitors) the government passed new high tariffs, but this only helped the big businesses while hurting the common people. European nations responded to this with their tariffs making it difficult for U.S. companies to sell goods overseas.
Hawley-Smoot Tariff
Worldwide economic collapse caused by overproduction and financial speculation. It affected the United States from October of 1929 until the start of World War II in 1939
Great Depression
Economist who argued that for a nation to recover from a depression, the government had to spend money to encourage investment and consumption, even if it creates a deficit. Inspired the New Deal.
John Maynard Keynes
World War I veterans who marched on Washington, D.C. in 1932 to demand immediate payment of their service bonuses. President Hoover refused to negotiate and instructed the U.S. Army to clear the capital of protestors, leading to a violent clash.
“Bonus Army”
When the depression got worse, Hoover called for this and Congress created this to loan money to save failing businesses. Congress approved new building projects to put Americans to work like the Hoover Dam and this provided financial aid to railroads, financial institutions, and business corporations.
Reconstruction Finance Corporation
when Americans turned to Democrat Franklin Delano Roosevelt to be their new leader. in which Democrat Franklin D. Roosevelt defeated Republican Pres. Herbert Hoover. This was the first held during the Great Depression, and it represented a dramatic shift in the political alignment of the country when Hoover didn’t do anything to help the great depression.
Election of 1932
This focused on the three “Rs”Relief (Relief checks and job programs to lower unemployment), Recovery (Programs to stimulate agriculture, industry, and the economy to end the depression), Reform (Programs to correct problems in the economy and prevent future depressions) The policies and programs that Franklin Roosevelt initiated to combat the Great Depression. This represented a dramatic expansion of the role of government in American society. This domestic program of the administration of the U.S. Pres. Franklin D. Roosevelt (FDR) between 1933 and 1939, which took action to bring about immediate economic relief as well as reforms in industry, agriculture, finance, waterpower, labor, and housing, vastly increasing the scope of the federal government’s activities.
New Deal
When FDR used radio to communicate to the American people the steps the government was taking to address the problems of the depression. Roosevelt used simple, clear language to explain his programs
‘Fireside Chat”
created to guarantee customer bank accounts and restore public confidence in banks. a part of the U.S. federal government that provides insurance against loss of money that people have deposited in banks, up to $250,000 currently.
FDIC
won the Election of 1932, and passed the New Deal to help the people during the Great Depression. President in the beginning of WW
Franklin Delano Roosevelt
1933 New Deal executive order that shut down banks for several days to calm widespread panic during the Great Depression. This was used to authorize the government to strengthen, reorganize, and reopen solvent banks.
Emergency Banking Act
FDR’s first action as president was to address the banking crisis, as there was no public faith in banks. Roosevelt declared a 4-day bank holiday where all banks in America closed and were examined by the government, and used Fireside Chats to explain his programs, beginning the New Deals.
“Hundred Days”
New Deal agency that brought low-cost electricity to rural Americans and redeveloped this through flood-control projects. The agency built, owned, and supervised a number of power plants and dams.
TVA
program for young men aged 18-25 where they would build roads and parks, and plant trees, among other things. This employed 3 million young men
Civilian Conservation Corps
A Social Justice who was also controversial for printing anti-Semitic attacks, In the late 1930s, he supported some of the fascist policies of Adolf Hitler, Benito Mussolini and he was an Anti-New Deal.
Father Charles Coughlin
The most vocal critic of the New Deal was this Louisiana Senator. he didn’t believe that FDR was doing enough and proposed a plan called “Share the Wealth”. He also wanted all personal income over $1 million to be taxed and give every U.S. family $2,000 per year, saying “Unless we provide for redistribution of wealth in this country, the country is doomed.”. Hethreatened to run for president in 1936 as a 3rd party candidate but was assassinated in 1935
Huey Long
Landmark act that created retirement pensions for most Americans, as well as unemployment insurance.
Social Security Act of 1935
1935 act (also known as the Wagner Act), which protected workers’ right to organize labor unions without business owner interference.
National Labor Relations Act
an American political term that refers to the alignment of interest groups and voting blocs that supported the New Deal and voted for Democratic presidential candidates from 1932 until the late 1960s. This was also an electoral block made up of union members, city-dwellers, and the poor ( a large group during the Depression). This included African Americans, who had voted Republican for decades prior out of loyalty to Lincoln’s party. The strength of this led to Roosevelt’s lopsided victory in 1936.
“New Deal Coalition”
Name for the southern plains of the United States during the Great Depression when the region experienced massive dust storms due to soil erosion caused by poor farming practices and drought.
“Dust Bowl”
Migrant Farmers in the Great Plains, Oklahoma, who left their farms after The Dust Bowl, in search for work or better land on the west coast
Okies
1934 act that ended the Dawes Act, authorized self-government for those living on reservations, extended tribal landholdings, and pledged to uphold native customs and language.
Indian Reorganization Act
tried to help farmers and agriculture by paying farmers to not produce, which lowers the supply (the government hoped to increase crop prices)
Agricultural Adjustment Administration
the last great flowering of jazz before its period of harmonic experimentation. The name given to the period from 1935-1946 when big band jazz was the most popular music in America
“Swing Era”
American novelist who wrote “The Grapes of Wrath”. (1939) A story of Dustbowl victims who travel to California to look for a better life. which summed up the bitterness of the Great Depression decade and aroused widespread sympathy for the plight of migratory farmworkers. He received the Nobel Prize for Literature for 1962.
John Steinbeck
The “Sick chicken case” - Interstate commerce does not apply to local business. When the US abolished the National Industrial Recovery Act, a cornerstone of the New Deal. This involved a company in New York selling eggs with diseases, and the court ruled that the government can’t interfere with their business.
Schecter v. U.S.
When FDR feared that the Supreme Court would weaken the New Deal, he threatened to “pack the Supreme Court” and increase the number of justices from 9 to 15. People were outraged as FDR appeared to be overstepping his Constitutional powers and seemed to want to overrule checks and balances
Court-Packing Scheme
The First Lady that served throughout FDR’s presidency as his “legs and eyes” as she toured the nation speaking with people hurting from the Great Depression, among other issues (Jim Crow), and reported back to FDR. She became the conscience of the New Deal, as she expressed concern and showed great empathy for the hurting masses within the United States. She was the first First Lady to give lectures, radio broadcasts, write a daily newspaper column, and speak out on behalf of African Americans
Eleanor Roosevelt
The Secretary of Labor. The first woman ever appointed to the cabinet, by FDR.
Frances Perkins
Group FDR appointed to serve as unofficial advisors to the president, and so they could advise and warn him about segregation laws in the south. One main member is Mary McLeod Bethune
“The Black Cabinet”
