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Unit 8

A Gathering Storm

TermDefinition
Speculation Making risky investments that have the potential to sell for big profits, but also could lead to big losses.
Franklin D. Roosevelt 32nd U.S. President (Democrat, 1933-1945) who created the New Deal to use the federal government to help the American people during the Great Depression.
The New Deal Government programs enacted by President Roosevelt to help Americans during the Great Depression.
Fireside Chats Radio addresses by President Roosevelt to Americans to promote confidence and optimism during the Great Depression.
Federal Deposit Insurance Corporation (FDIC) New Deal reform program - Established government insurance for the deposits of bank customers.
National Industrial Recovery Act (NIRA) New Deal recovery program - Business, labor, and government leaders collaborated to regulate wages, hours, prices in industry.
Agricultural Adjustment Administration (AAA) New Deal recovery program - Farmers were paid NOT to raise certain crops and livestock in an attempt raise farming prices.
Works Progress Administration (WPA) New Deal relief program - Created public works jobs for 8.5 million Americans building roads, bridges, schools, and airports.
Social Security Act New Deal reform program - Established a payroll tax on workers to fund welfare payments for older Americans and the unemployed.
On Margin Buying stock with a loan that had to be repaid to a stock broker.
Bull Market A long period of rising stock values on the Wall Street Stock Exchange.
Great Depression The longest and most severe economic downturn in U.S. history - Lasted from 1929 to 1941.
Bank Run When panicked customers rush to a bank all at once to withdraw their money.
Dictator A ruler with total power over a country and its citizens.
Fascism Ideology that promotes authoritarian leadership, national strength and strict social order.
Lend Lease Act 1940 - Congress authorized President Roosevelt to send arms to any nation vital to U.S. defense such as the United Kingdom and China.
Poland Nation that was invaded by German and Soviet troops in 1939 - The beginning of World War II.
The Axis Military alliance established by Nazi Germany, Italy, and Japan in 1940.
Adolf Hitler Fascist dictator of Germany who promised to reject the Treaty of Versailles and rebuild the German Empire - "Third Reich".
Benito Mussolini Fascist dictator of Italy - Promised to halt communism, bring order to society, and rebuild the Italian Empire.
Battle of Britain 1940 - German planes bombed London and other British cities - British pilots won the battle to keep control of the skies.
Dust Bowl Period of prolonged drought, high winds, and dust storms that killed crops and livestock in the Great Plains region during the Great Depression.
Hideki Tojo Military dictator of Japan who wanted to expand Japan's empire into Asia and the Pacific.
National Labor Relations Act (NLRA) New Deal reform program - Guaranteed the right of workers to organize and collectively bargain with their employers.
Bank Holiday President Roosevelt ordered all banks to shut down for a weekend to be examined - Only stable banks reopened.
Pearl Harbor U.S. naval base in Hawaii that was the target of a surprise attack by Japan on December 7, 1941,
Joseph Stalin Communist dictator of the Soviet Union who signed a nonaggression pact with Adolf Hitler to divide Poland between the two nations.
Embargo Action by Congress and President Roosevelt to stop selling scrap metal, steel, and oil to Japan.
China Nation invaded by Japan in 1937.
Smoot Hawley Tariff 1932 - Law passed by Congress that raised taxes on imports to protect U.S. industry during the Great Depression.
Credit Allows buyers to pay their debts over time in installment plans.
Deflation When there is a decline in the nation's money supply which leads to falling production, business failures, and lay offs.
Calvin Coolidge 30th U.S. President (Republican, 1923 - 1929) who supported lowering taxes on citizens and businesses to grow the economy.
Causes of the Great Depression 1) Stock Market Crash. 2) Bank Failures. 3) Deflation. 4) Business Failures.
Speakeasies Secret bars where illegal alcohol was consumed during Prohibition.
Bootlegging The act of transporting and selling illegal alcohol during Prohibition.
Radio First form of mass media that was bought by large numbers of Americans in the 1920's.
Jazz Style of music largely influenced by Black artists that became popular across the nation in the 1920's.
Harlem Renaissance A 1920's movement where art, literature, music, and culture flowered among Black residents in New York City.
Mass Production When machinery is used to make large numbers of goods which leads to reduced costs and prices.
Assembly Line Method created by Henry Ford to divide complex production into simple tasks for workers to build the Model T Ford car.
Model T The first automobile produced to be affordable and widely owned by the average American family.
Consumerism A preoccupation with the purchasing goods to make life easier or for their enjoyment.
Flappers Women of the 1920's who broke traditional social norms by the way they dressed and behaved in public.
Langston Hughes Leading poet of the Harlem Renaissance wrote poems that told the story of Black life in America.
Organized Crime A business operation that supplies illegal goods and services for profit that grew during the Prohibition era.
Al Capone A gangster in Chicago who made a fortune off of illegal alcohol by "murdering" his way to the top of the crime network and by buying off public officials, the police, and judges.
Civilian Conservation Corps (CCC) New Deal relief program - Put 3 million young men to work to plant trees, maintain parks, and build reservoirs.
Hoboes Homeless who wandered the country during the Great Depression, often riding on boxcars along railroads.
Hoovervilles Shantytowns where homeless gathered on unused public lands during the Great Depression.
Naziism Ideology that pure Germans were a master race called "Aryans" and that undesirable groups such as Jews were at fault for Germany's problems.
Mein Kampf Influential book Written by Adolf Hitler describing his life and the ideology of his Nazi Party.
Nazi Party Political party led by Adolf Hitler that gained power in Germany in 1933.
Winston Churchill Prime Minister who led the United Kingdom in the Battle of Britain and during World War II.
Japan Nation that the U.S. declared war on in 1941 after the attack on Pearl Harbor.
Henry Ford Created the assembly line and Model T Ford to produce an affordable automobile for Americans.
Blitzkrieg Strategy by German forces to use rapid mechanized units to invade and quickly defeat The Netherlands, Belgium, and France in 1940.
Nonaggression Pact 1939 - Agreement between Germany and the Soviet Union to not fight each other.
Liberals Criticized the New Deal saying it did not do enough to give aid to poor Americans.
Conservatives Criticized the New Deal saying it was too costly and gave the federal government too much power.
Polio A contagious virus of the spinal cord that led President Roosevelt to be paralyzed as a young man.
Herbert Hoover President (Republican, 1929 - 1933) who tried to combat the Great Depression with public works, but was viewed by many as not doing enough to help suffering Americans.
Public Works Building projects that are funded by government.
Stock Market Crash Collapse of stock values and mass selling of stocks that led to $30 billion being lost on Wall Street in 1929.
Banks The failures of these institutions across the nation led to $140 billion being lost during the Great Depression.
Created by: MhsUSHistory
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