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Chapter 12/13
The Great Depression/The New Deal
| Term | Definition |
|---|---|
| 1. speculation | practice of making high-risk investments in hopes of obtaining large profits |
| 2. Black Tuesday | October 29, 1929, when stock prices fell sharply in the Great Crash |
| 3. business cycle | periodic growth and contraction of the economy |
| 4. Great Depression | period lasting from 1929 to 1941 in which the U.S. economy faltered and unemployment soared |
| 5. Hawley-Smoot Tariff | protective import tax authorized by Congress in 1930 |
| 6. bread line | line of people waiting for food handouts from charities or public agencies |
| 7. Hooverville | term used to describe makeshift shantytowns set up by homeless people during the Great Depression |
| 8. tenant farmer | farmers that worked for bigger landowners rather than for themselves |
| 9. Dust Bowl | term used for the central and southern Great Plains during the 1930s when the region suffered from drought and dust storms |
| 10. Okies | general term used to describe Dust Bowl refugees |
| 11. repatriation | process by which Mexican Americans were encouraged, or forced, by local, state, and federal officials to return to Mexico during the 1930s |
| 12. localism | policy relied on by President Hoover in the early years of the Depression whereby local and state governments act as a primary agents of economic relief |
| 13. Reconstruction Finance Corporation (RFC) | federal agency set up by Congress in 1932 to provide emergency government credit to banks, railroads, and other large businesses |
| 14. trickle-down economics | economic theory that holds that money lent to banks and businesses will trickle down to consumers |
| 15. Hoover Dam | dam on the Colorado River that was built during the Great Depression |
| 16. Bonus Army | group of World War I veterans who marched on Washington D.C., in 1932 to demand early payment of a bonus promised by Congress |
| 17. New Deal | programs and legislation enacted by Franklin D. Roosevelt during the Great Depression to promote economic recovery and social reform |
| 18. fireside chats | informal radio broadcasts in which FDR explained issues and New Deal programs to average Americans |
| 20. Federal Deposit Insurance Corporation (FDIC) | government agency that insures bank deposits, guaranteeing that depositors' money will be safe |
| 21. Tennessee Valley Authority (TVA) | government agency that built dams in the Tennessee River valley to control flooding and generate electric power |
| 22. Civilian Conservation Corps (CCC) | New Deal program that provided young men with relief jobs on environmental conservation projects, including reforestation and flood control |
| 23. National Recovery Administration (NRA) | New Deal agency that promoted economic recovery by regulating production, prices, and wages |
| 24. Public Works Administration (PWA) | New Deal agency that provided millions of jobs constructing public buildings |
| 25. Second New Deal | legislative activity begun by Franklin D. Roosevelt in 1935 to solve problems created by the Great Depression |
| 26. Works Progress Administration (WPA) | key New Deal agency that provided work relief through various public works projects |
| 27. pump priming | economic theory that favored public works projects because they put money into the hands of consumers who would buy more goods, stimulating the economy |
| 28. Social Security Act | 1935 law that set up a pension system for retirees, established unemployment insurance, and created insurance for victims of work-related accidents; provided aid for poverty-stricken mothers and children, the blind, and the diasbled |
| 29. Wagner Act | New Deal law that abolished unfair labor practices, recognized the right of employees to organize labor unions, and gave workers the right to collective bargaining |
| 30. collective bargaining | process in which employers negotiate with labor unions about hours, wages, and other working conditions |
| 31. Fair Labor Standards Act | 1938 law that set a minimum wage, a maximum workweek of 44 hours, and outlawed child labor |
| 32. Congress of Industrial Organization (CIO) | labor organization founded in the 1930s that represented unskilled industrial workers |
| 33. sit-down strike | labor protest in which workers stopped working and occupy the workplace until their demands are met |
| 34. court packing | FDR plan to add up to six new justices to the nine-member Supreme Court after the Court had ruled that some New Deal legislation was unconstitutional |
| 35. Black Cabinet | group of African American leaders who served as unofficial advisers to Franklin D. Roosevelt |
| 36. Indian New Deal | 1930s legislation that gave Indians greater control over their affairs and provided funding for schools and hospitals |
| 37. New Deal coalition | political forces formed by diverse groups who united to support Franklin D. Roosevelt and his New Deal |
| 38. welfare state | government that assumes responsibility for providing for the welfare of the poor, elderly, sick, and unemployed |
| 39. The Wizard of Oz | one of the most memorable depression-era films |
| 40. War of the Worlds | a drama directed by Orson Welles |
| 41. Federal Art Project | division of the Works Progress Administration that hired unemployed artists to create artworks for public buildings and sponsored art-education programs and exhibitions |
| 42. mural | a large picture painted directly on a wall or ceiling |
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