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Great Depression/ ND

Great Depression + The New Deal

TermDefinition
Great Depression the economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s
Black Tuesday October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929
buying on margin the purchasing of stocks by paying only a small percentage of the price and borrowing the rest
Bonus Army Group of WWI vets. that marched to D.C. in 1932 to demand the immediate payment of their government war bonuses in cash
Herbert Hoover Republican candidate who assumed the presidency in March 1929 promising the American people prosperity and attempted to first deal with the Depression by trying to restore public faith in the community.
Rugged Individualism all individuals, or nearly all, have the potential to succeed on their own without the aid of the government (American citizens and America as a nation is strong enough to figure it out without government intervention…connects to laissez-faire economics
Overproduction A condition in which production of goods exceeds the demand for them
Hoovervilles Shanty towns that the unemployed built in the cities during the early years of the Depression; the name given to them shows that the people blamed Hoover directly for the Depression.
Dust Bowl A nickname for the Great Plains regions hit by drought and dust storms in the early 1930s
Laissez Faire Philosophy a philosophy or policy of minimal government interference in the economic affairs of individuals and society as a whole.
Securities Exchange Commission (SEC) An agency created in 1933 that monitors the stock market and enforces laws regulating the sale of stocks and bonds. EXAMPLE OF A NEW DEAL REFORM PROGRAM
Federal Deposit Insurance Corporation (FDIC) An independent federal agency created by Glass-Steagall Reform Act. It insures up to $100,000 for bank deposits, thus helping put faith back into the banks.
Fireside Chats The informal radio conversations Roosevelt had with the people to keep spirits up. It was a means of communicating with the people on how he would take on the depression.
New Deal A plan by President Franklin Roosevelt intended to bring economic relief, recovery, and reforms to the country after the Great Depression.
Agricultural Adjustment Act (AAA) Directly addressed the farm crisis in America. Raised crop prices by lowering production and paying farmers to leave a certain amount of every acre of land unseeded. EXAMPLE OF A NEW DEAL RECOVERY PROGRAM
Civilian Conservation Corps (CCC) Hired young, unemployed people to do restoration projects throughout the country building roads, developing parks, and helping in soil-erosion projects employed over 3 million people. EXAMPLE OF A NEW DEAL RELIEF PROGRAM
Public Works Administration (PWA) Large-scale public works construction agency. Built public works such as dams, bridges, hospitals, and schools. Spent over $6 billion in contracts to private construction firms that did the actual work. Administered the construction of more than 34,000 pr
Social Security (FDR) 1935, guaranteed retirement payments for enrolled workers beginning at age 65; set up federal-state system of unemployment insurance and care for dependent mothers and children, the handicapped, and public health…Still used today! EXAMPLE OF A NEW D
Work Progress Administration The WPA gave people jobs to help build roads, bridges, dams, airports, surge treatment plants, hospitals, medical clinics, and schools. In addition, artists, sculptors, musicians and actors were employed. EXAMPLE OF A NEW DEAL RELIEF PROGRAM
Court Packing Fiasco FDR wanted to pass a bill that increased the number of supreme court justices. Some of his new deal programs were called unconstitutional. He wanted justices on his side.
Created by: Liz_25
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