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Chap 18+19
Honors American History on WW2 and the depression
| term | definition |
|---|---|
| Fireside Chat | informal talks in which President Roosevelt explained the nation’s problems and how the new Deal planned to defeat the Depression |
| Brain Trust | advisory experts taken from the academic world, specifically those who worked in the Roosevelt Administration |
| First New Deal | Franklin D Roosevelt designed to promote economic recovery, relief and reform (3 R's) in 1930s |
| Deficit Spending | government spending of funds that are borrowed rather than by taxation |
| Pump Priming | pouring government money into the economy through loans and federal spending in the hope of stimulating recovery |
| Foreclosure | legal procedure for reclaiming a piece of property when the owner is unable to keep up the mortgage payments |
| 1933 Public Works Administration (PWA | provided jobs instead of handouts construction work government financed and owned works or improvements (such as schools, highways, dams, tunnels, and docks) constructed for public use |
| Second New Deal | focused more on the less fortunate and did not count as much on the support of business |
| 1935 Social Security Act | federal government financed unemployment insurance plans ~ funded by payroll taxes paid by employers ~ provided retirement benefits, paid for by taxes on workers & employers ~ age 65 (stopped working) ~ not for all = farmers & domestic workers (65% Af. Am |
| National Labor Relations Board (NLRB): | gave workers the right to form unions and bargain collectively for higher wages and fairer treatment. AKA Wagner Act |
| Congress of Industrial Organization (CIO): | industrial unions; steelworkers~United States Steel Corporation~recognized 1937~40h workweek & increased wages, automakers~employers-exploited racial & religious tensions,seasonal lay-offs~workers- resented ‘speed-ups’ (rate at which cars moved along asse |
| Sit-Down Strike (Sit In): | strikers remain in factory ~ cannot hire new workers nor remove strikers = violence |
| Fair Labor Standards Act: | did away with child labor, placed ceiling on number of hours worked, floor under wages |
| ‘Black Cabinet’ | Roosevelt appointed many Af. Am. to secondary posts - influencial |
| Breadlines | people waiting in line to receive the free food from a welfare agency or charity |
| Buying On Margin | purchasing stock by paying only a part of the cost in cash and borrowing the rest of the money ~ often from stockbrokers |
| Franklin Delano Roosevelt | political leader of US during the Great Depression & WWII ~died near the end of WWII ~proclaimed that all people should be able to enjoy four basic freedoms – freedom of speech and religion, freedom from want and fear |
| How did the New Deal change foreign policy? | good neighbor policy; economic isolationism - after some recovery ~ economic cooperation; recognition of Soviet Union’s government (Stalin) |
| Gold Standard | government would redeem any amount of paper money for its value in gold |
| Bank Holiday | UK bank holiday and other Europe countries that get this day off paid |
| Frances Perkins | first woman in US Cabinet. Helped labor movement and New Deal under Roosevelt |
| Henry Morgenthau | helped design and fund New Deal under Roosevelt. Also, US Secretary Treasury |
| Safety Net | collection of services to prevent people from falling under poverty level (e.g. Welfare) |
| Bull Market | Stock Market. Things that are traded (e.g. stock or commodites) |
| Bank Run | during Great Depression, panic people withdrew their money from banks leading to bank failure |
| Bailiff | Court Official, Protects Judge and carries out orders from Judge |
| Dust Bowl | "Dirty Thirties" Dust storms in 1930's |
| Relief | Relief Programs to stop economic down turn (e.g. Emergency Bank Act) |
| Margin Call | requiring the investor to bring the margin account back into line |
| Speculation | to speculate or guess |
| Installment Plan | |
| Binding Arbitration | |
| American Liberty League | Political Organization formed that opposed New Deal |
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