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Unit 11
| Term | Definition |
|---|---|
| Black Tuesday | A name given to October 29, 1929, when stock prices fell sharply |
| Speculation | An involvement in risky business transactions in an effort to make a quick or large profit |
| Dow Jones Industrial Average | A measure based on the prices of the stocks of 30 large companies, widely used as a barometer of the stock market’s health |
| Hawley-Smoot Tariff | A law, enacted in 1930, that established the highest protective tariff in U.S. history, worsening the depression in America and abroad |
| Franklin D. Roosevelt | 32nd President of the United States --- elected four times --- instituted New Deal to counter the Great Depression and led country during World War II (1882-1945) |
| Credit | An arrangement in which a buyer pays later for a purchase, often on an installment plan with interest charges. |
| Soup kitchens | A place where free or low cost food is served to the needy |
| Dust Bowl | The region, including Texas, Oklahoma, Kansas, Colorado, and New Mexico, that was made worthless for farming by drought and dust storms during the 1930s |
| Boulder Dam | A dam on the Colorado River—now called Hoover Dam—that was built during the Great Depression as part of a public-works program intended to stimulate business and provide jobs |
| Bonus Army | A group of World War I veterans and their families who marched on Washington, D.C., in 1932 to demand the immediate payment of a bonus they had been promised for military service |
| Hoovervilles | A shantytown built by unemployed and destitute people during the Depression of the early 1930s |
| Fireside Chats | One of a series of radio broadcasts made by President Franklin Delano Roosevelt to the nation, beginning in 1933 |
| New Deal | President Franklin Roosevelt’s program to alleviate the problems of the Great Depression, focusing on relief for the needy, economic recovery, and financial reform |
| Civilian Conservation Corps (CCC) | An agency, established as part of the New Deal, that put young unemployed men to work building roads, developing parks, planting trees, and helping in erosion-control and flood-control projects |
| Agricultural Adjustment Act (AAA) | A law enacted in 1933 to raise crop prices by paying farmers to leave a certain amount of their land unplanted, thus lowering production |
| National Industrial Recovery Act (NIRA) | A law enacted in 1933 to establish codes of fair practice for industries and to promote industrial growth |
| Federal Deposit Insurance Corporation (FDIC) | An agency created in 1933 to insure individuals’ bank accounts, protecting people against losses due to bank failures |
| Tennessee Valley Authority (TVA) | A federal corporation established in 1933 to construct dams and power plants in the Tennessee Valley region to generate electricity as well as to prevent floods |
| Securities and Exchange Commission (SEC) | An agency, created in 1934, that monitors the stock market and enforces laws regulating the sale of stocks and bond |
| Home Owners Loan Corporation (HOLC) | A government-sponsored corporation created as part of the New Deal |
| Francis Perkins | An American sociologist and workers-rights advocate who served as the U.S. Secretary of Labor from 1933 to 1945 --- the longest serving in that position --- the first woman appointed to the U.S. Cabinet |
| Charles Coughlin | A Roman Catholic priest who became a national celebrity during the 1930s by hosting a popular radio broadcast |
| Huey P. Long | An American politician who served as the 40th governor of Louisiana from 1928 to 1932 and was a member of the United States Senate from 1932 until his assassination in 1935 |
| Works Progress Administration (WPA) | An agency, established as part of the Second New Deal, that provided the unemployed with jobs in construction, garment making, teaching, the arts, and other fields |
| Wagner Act | A law—also known as the National Labor Relations Act—enacted in 1935 to protect workers’ rights after the Supreme Court declared the National Industrial Recovery Act unconstitutional |
| National Labor Relations Board | An agency created in 1935 to prevent unfair labor practices and to mediate disputes between workers and management |
| Fair Labor Standards Act | A United States labor law that creates the right to a minimum wage, and "time-and-a-half" overtime pay when people work over forty hours a week |
| Social Security Act | A law enacted in 1935 to provide aid to retirees, the unemployed, people with disabilities, and families with dependent children |
| Deficit Spending | A government’s spending of more money than it receives in revenue |
| Eleanor Roosevelt | Wife of Franklin Roosevelt and a strong advocate of human rights |
| Black Cabinet | The informal term for a group of African Americans who served as public policy advisors to President Franklin D. Roosevelt and his wife Eleanor Roosevelt in his 1933-45 terms in office |
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