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Ch 22-23

Speculation The purchase of stocks or real estate on the chance of quick profit. One cause of the great depression.
Buying on margin Paying a small percentage of a stock’s price as a down payment and borrowing the rest.
Black Tuesday Stock markets crashed October 29, 1929.
The Great Depression The period from 1929 – 1940 during which the economy plummeted and unemployment skyrocketed.
Bonus Army Unemployed WWI veterans who marched on Washington DC in 1932 hoping for a bonus promised to them in the future
Herbert Hoover US President during the first years of the Great Depression.
Hoovervilles Nickname for the shantytowns of the homeless that revealed that the president was the object of frustration.
Recession Economic downturn characterized by two consecutive quarters of negative growth of the GDP and rising unemployment.
Depression Economic downturn characterized by prolonged negative growth and unemployment of 12 – 15% or more.
New Deal Term used by FDR in his 1932 acceptance speech that came to describe his whole reform program.
Hundred Days of New Deal First 100 days of FDR’s first administration during which record numbers of bills were passed by Congress.
Civilian Conservation Corps The early New Deal agency that worked to solve the problems of unemployment and conservation by employing young men in reforestation and other environmentally beneficial tasks.
Workers Progress Administration Large federal employment program, established in 1935 under Harry Hopkins, that provided jobs in areas from road building to art.
National Industrial Recovery Act New Deal agency that attempted to reorganize and reform US industry – declared unconstitutional by the Supreme Court, because went beyond federal gov. power to regulate interstate commerce
FDIC Federal Depositors’ Insurance Corporation: insures bank deposits which restored public confidence in banks (still exists)
Dust Bowl The drought-stricken plains areas from which hundreds of thousands of refugees were driven during the Great Depression.
The Grapes of Wrath John Steinbeck novel about the families affected by the Dust Bowl
Agricultural Adjustment Act New Deal farm agency that attempted to raise prices by paying farmers to reduce their production of crops and animals – declared unconstitutional by the Supreme Court – a second law was later upheld.
Tennessee Valley Authority New Deal agency that aroused strong conservative criticism by producing low-cost power in competition with private utilities.
Social Security New Deal program that financed old-age pensions, unemployment insurance, and other forms of income assistance.
Securities and Exchange Commission New Deal agency established to prevent deception and fraud in stock trading.
Fireside Chat FDR radio addresses designed to inform and reassure the American public.
Frances Perkins First female cabinet member – Secretary of Labor under FDR.
Wagner Act 1935 law that strengthened organized labor.
Sitdown Strike Dramatic CIO labor action in 1936 that forced the auto industry to recognize unions.
Clash at the Republic Steel Plant 1937 event in which Chicago police attacked striking steel workers, killing 10 and wounding 84. Eventually negotiated by the National Labor Relations Board.
John Maynard Keynes British economist whose theories helped justify New Deal deficit spending.
20th Amendment Constitutional provision that changed the inauguration date of US Presidents from March to January.
21st Amendment Constitutional provision that repealed the 18th Amendment Prohibition).
Indian Reorganization Act Reversed the Dawes Act of 1887 – restored tribal lands to Native Americans (to the degree that was still possible by 1934
New Deal Coalition Southern Whites, African-Americans, unionized industrial workers, and various other groups who supported the Democratic party beginning in 1936.
"Pack the court" Nickname for FDR’s plan to add justices to the Supreme Court who were sympathetic with New Deal objectives.
Huey Long Governor of Louisiana whose “Share Our Wealth” and “Every Man a King” rhetoric made him a contender for the presidency in 1936… until he was assassinated.
Charles Coughlin Radio demagogue who advocated a guaranteed annual income for all Americans and nationalization of banks and other key financial institutions.
Created by: MelMarWar