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Ch 22-23
| Term | Definition |
|---|---|
| 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
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