Vocab Quiz 1/22 Flashcards
Glass-Steagall Act
A. Definition: A 1933 law that separated commercial and investment banking to reduce financial risks.
B. Significance: It restored trust in the U.S. banking system after the Great Depression by preventing risky investments by banks handling public deposits. This act marked a turning point in government regulation of the economy.
C. Example: The creation of the Federal Deposit Insurance Corporation (FDIC) under this act protected individual bank deposits.
National Labor Relations Board (NLRB)
A. Definition: A government agency established in 1935 to enforce labor laws and mediate disputes between unions and employers.
B. Significance: It empowered workers to form unions and bargain collectively, marking a major shift in labor rights during the New Deal era. This contributed to improved working conditions and wages for millions of Americans.
C. Example: The NLRB helped resolve the 1937 General Motors sit-down strike, securing union recognition for workers.
Court Packing
A. Definition: President Franklin D. Roosevelt’s 1937 proposal to expand the Supreme Court by adding up to six additional justices.
B. Significance: It was an attempt to overcome judicial opposition to New Deal legislation but faced widespread criticism for threatening the balance of power. This highlighted tensions between branches of government.
C. Example: The plan was abandoned after public backlash, but the Court subsequently upheld several New Deal laws.
Greenbelt Communities
A. Definition: Planned residential areas built by the federal government in the 1930s to provide affordable housing and preserve green space.
B. Significance: These communities embodied New Deal ideals of social reform and urban planning, offering models for sustainable living.
C. Example: Greenbelt, Maryland, was one of the first greenbelt towns, designed to foster community and economic stability.
Teamsters
A. Definition: A labor union originally formed in 1903 representing workers in industries such as trucking, warehousing, and construction.
B. Significance: The Teamsters played a major role in securing better wages, working conditions, and rights for workers, becoming one of the largest and most influential unions in the U.S.
C. Example: The Teamsters led significant strikes in the 1930s, including the 1934 Minneapolis General Strike, which improved labor rights nationwide.
‘Share Our Wealth’
A. Definition: A political movement led by Huey Long during the 1930s advocating for wealth redistribution to reduce poverty and economic inequality.
B. Significance: It highlighted growing frustrations with the unequal distribution of wealth during the Great Depression and influenced New Deal policies. The movement gained millions of followers before Long’s assassination.
C. Example: Long proposed capping personal fortunes at $50 million and using the surplus to fund education, healthcare, and basic income for all Americans.
Populists
A. Definition: A political movement in the late 19th century that sought to represent the interests of farmers and workers against big business and elite power.
B. Significance: The Populists influenced later progressive reforms by advocating for policies like direct election of senators, government control of railroads, and progressive taxation.
C. Example: The 1892 Omaha Platform outlined the Populist Party’s goals, including free silver and labor rights.
National Union for Social Justice
A. Definition: A political movement founded in 1934 by Father Charles Coughlin to promote social and economic reforms, including nationalizing banks and opposing communism.
B. Significance: It reflected widespread discontent with traditional economic policies during the Depression and gained traction through Coughlin’s influential radio broadcasts.
C. Example: Coughlin’s speeches criticized the Federal Reserve and supported labor rights, attracting millions of listeners.
William Lyon Mackenzie King
A. Definition: Canada’s longest-serving Prime Minister, who led the country during key periods, including the Great Depression and World War II.
B. Significance: He implemented policies to stabilize the economy during the Depression and helped strengthen Canada’s independence from Britain. His leadership shaped modern Canadian federalism.
R.B. Bennett
A. Definition: The Canadian Prime Minister from 1930 to 1935 who led the country during the early years of the Great Depression.
B. Significance: Bennett introduced relief measures such as the “Bennett New Deal,” though many criticized his efforts as inadequate. His tenure reflected the challenges of governing during economic crisis.
C. Example: Bennett’s government created work camps for unemployed men, though these became symbols of public discontent.
Canadian Wheat Board
A. Definition: A government agency established in 1935 to regulate the marketing and pricing of wheat in Canada.
B. Significance: It stabilized wheat prices and ensured fair income for farmers, addressing economic hardships during the Great Depression. It played a vital role in supporting Canada’s agricultural economy.
C. Example: The Wheat Board guaranteed minimum prices for wheat, providing financial security to prairie farmers.
Farmer’s Creditors Arrangement Act
A. Definition: A 1934 Canadian law that allowed farmers to restructure debt and avoid bankruptcy during the Depression.
B. Significance: It provided relief to struggling farmers and reflected government intervention in the economy to protect rural livelihoods.
C. Example: Farmers in Western Canada used this act to negotiate lower payments with creditors, preventing mass foreclosures.
Prairie Farm Rehabilitation Act
A. Definition: A 1935 Canadian law aimed at restoring agriculture in drought-affected areas of the prairies.
B. Significance: It was crucial in addressing the environmental and economic devastation of the Dust Bowl, helping farmers recover and adopt sustainable practices.
C. Example: The act funded irrigation projects and soil conservation initiatives across Saskatchewan and Alberta.
Bank of Canada
A. Definition: Canada’s central bank, established in 1935 to regulate monetary policy and stabilize the economy.
B. Significance: It marked a significant step in modernizing Canada’s financial system, allowing the government to manage currency, control inflation, and respond to economic crises more effectively.
C. Example: During World War II, the Bank of Canada financed the war effort through bond sales and monetary expansion.
Canadian Radio Broadcasting Commission
A. Definition: Established in 1932, it was Canada’s first national public broadcaster, created to promote Canadian culture and reduce American media influence.
B. Significance: It played a key role in unifying the country and preserving Canadian identity during a time of economic and social upheaval.
C. Example: The commission aired Canadian news, music, and educational programs across the country, laying the groundwork for the CBC.