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