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The Great Depression

TermDefinition
Great Depression The worst economic times in U.S. History, characterized by business failures, high unemployment, and falling prices
Herbert Hoover Republican President elected before the stock market crash, he remained committed to laissez-faire capitalism even while the economy spiraled down
Franklin D. Roosevelt Democratic President that promised Americans a "New Deal" that would create jobs
John Steinbeck Wrote article about "Oakies" living in migrant workers camps in California; wrote the novel, The Grapes of Wrath
Dorothea Lang A photographer who documented the suffering people of the Great Depression
Dust Bowl The Great Plains were know by this term after a series of droughts and mismanagement of farmland literally dried up hundreds of miles of lands, turning them to dust.
New Deal a series of programs and projects instituted during the Great Depression by President Franklin D. Roosevelt that aimed to restore prosperity to Americans
Hoovervilles Shanty towns of the homeless and unemployed that sprang up on the outskirts of cities during the depression.
Fireside Chats Frequent radio addressed made by FDR to the American people to explain his policies and restore public confidence in government.
Eleanor Roosevelt FDR’s wife who traveled the country and reported what she saw to the president. She was an activist for women’s rights and the poor.
Relief, Recovery, Reform The "New Deal" Measures that Roosevelt enacted in his first hundred days as president in order to combat the economic crisis.
National Recovery Administration (1933) Asked businesses to voluntarily follow codes which set standard prices, production limits, and minimum wages—it was later found to be unconstitutional by the Supreme Court.
Banking crisis When fear that a bank was unstable, customers would withdraw all their money en mass, causing banks to fail. FDR enacted a “Bank Holliday” to evaluate the strength of each bank.
Agricultural Adjustment Acts (1933/1938) Government subsidies to farmers in an attempt to increase crop prices. The first one was declared unconstitutional.
Civilian Conservation Crops (1933) Gave jobs to young men, such as planting trees. They lived in camps and sent most of their wages to their parents.
Federal Reserve the central bank of the United States. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system.
Gold Standard the system by which the value of a currency was defined in terms of gold, for which the currency could be exchanged. Roosevelt stopped this in 1933 by executive order
Fiat Money Intrinsically valueless money used as money because of government decree
Twenty-second Amendment limits the president to only two 4 year terms in office.
Schechter Poultry v. U.S. The Supreme Court ruled that even during a crisis, Congress could not give the President more powers than those granted in the Constitution.
Court-packing Plan (1937) Roosevelt proposed that the President be allowed a new appointment for each Justice who was over 70.5 years. old. This idea was rejected.
Created by: The9tailedFox