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USH Unit 7 Vocab.

US History Unit 7 Vocabulary

TermDefinition
1929 Year the stock market crashed. The collapse of the stock market on Oct. 29 known as “Black Tuesday” preceded a worldwide economic depression.
The Great Depression A period of severe economic hardship that began with the stock market crash in 1929 and continued until World War II. It was caused by bank failures, stock speculations, overproduction and under consumption. Many Americans were unemployed.
The New Deal FDR’s attempt to end the Great Depression. It created laws /programs that stressed “the 3 R’s” of Relief, Recovery, and Reform.
Franklin D. Roosevelt 32nd President of the U.S. Passed 15 major laws in the “New Deal” as an effort to reverse the Great Depression. The only man elected to four terms; he served as President from 1932-1945.
United States vs Butler (1936) Supreme Court case ruling that the 1933 Agricultural Adjustment Act & the National Recovery Administration were unconstitutional.
Smoot Hawley Tariff It raised U.S. taxes on imported goods to record levels. Economists still agree that Smoot- Hawley Tariff was unhelpful and made the Great Depression worse.
Reconstruction Finance Corporation Agency created by President Hoover and gave $2 billion in aid to state and local governments. It gave loans to banks and businesses to boost the country’s confidence and help banks return to performing daily functions.
Federal Deposi Insurance Corporation [FDIC] Agency created to provided deposit insurance guaranteeing a depositor's accounts up to $250,000 for each deposit.*New Deal *FDR Legacy
Bank Runs Scared depositors went to banks to take out their money. Led to banks not having enough cash to cover all their deposits causing the banks to close.
Discount Rate How the Federal Reserve adjusts the money supply. Following the crash, the Federal Reserve began raising the interest rate, depriving businesses of the money they needed to survive.
Bonus Army World War 1 veterans who traveled to D.C. to ask Congress for an early payment of their WW1 bonus. They were forced out of the city by the military under President Hoover’s orders
Business Cycle A pattern in which economic growth is followed by decline, panic and finally recovery. President Hoover and Conservatives believed the Great Depression would follow this cycle and fix itself.
Conservative believes in traditional values and opposes big government
Liberal supports larger government programs and believes that government should help people
Radical wants to make BIG social, political or economic change usually through revolutions and wanted to abolish the free enterprise system
Hoovervilles Also called shantytowns, homes that homeless people built out of cardboard and tar paper. They were named after Hoover because he was blamed for their situation.
TVA Tennessee Valley Authority funded construction of flood control dams and power plants in several states creating jobs.*New Deal*
AAA The Agricultural Adjustment Act set prices for farm crops while trying to reduce overproduction. *New Deal*
The Emergency Banking Act Gave the federal government power to help reopen the nation’s banks to rebuild confidence in the banking system. Started with a four-day banking holiday that shut down the banking system, including the Federal Reserve. **New Deal**
Dust Bowl Caused by a prolonged drought and poor farming techniques that caused topsoil to be blown over several states in the midwest.
CCC Civilian Conservation Corps gave young men jobs planting trees and working on other conservation projects. **New Deal**
WPA Works Progress Administration is a workrelief organization that put over 3 million people to work. They built bridges, buildings and parks **New Deal**
Social Security Act To help solve the long term problem of the aged and unemployed. This created a social insurance program that provides retirement and disability benefits **New Deal** **FDR Legacy**
Created by: AddyG0801
 

 



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