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APUSH Chapter 23
| Term | Definition |
|---|---|
| Smoot-Hawley Tariff | high tariff during the Great Depression. By taxing imported goods, Congress hoped to stimulate American manufacturing, tariff triggered retaliatory tariffs in other countries, which hindered global trade led to greater economic contraction. |
| Bonus Army | A group of 15,000 unemployed World War I veterans who set up camps near the Capitol building in 1932 to demand immediate payment of pension awards due to be paid in 1945. |
| Fair Labor Standards Act (FLSA) 1938 | Collective bargaining, Minimum wage, 40 hour work week, end to child labor |
| Emergency Banking Act | FDR ordered all banks closed to restore the public's confidence in the nation's banks |
| Federal Deposit Insurance Corporation (FDIC) 1933 | REFORM. insured checking and savings accounts up to $250,000 |
| Agricultural Adjustment Act (AAA) 1933 | RECOVERY. New Deal legislation passed in May 1933 that aimed at cutting agricultural production to raise crop prices and thus farmers' income. |
| Federal Emergency Relief Administration (FERA) 1933-1935 | RELIEF. Gave $500,000 to states and cities to provide direct relief and to create projects for hungry and homeless |
| National Recovery Administration (NRA) 1933 | RECOVERY. Set codes for fair competition by maintaining prices, wages, hours (ruled unconstitutional) |
| Public Works Administration (PWA) 1933-1939 | RELIEF. Provided jobs through construction projects hoping it would create jobs and lead to consumer spending. |
| Civilian Conservation Corp (CCC) 1933 | RELIEF. Provided work for young men between 18-25 conserving natural resources; build parks, plant trees, flood control. |
| Securities and Exchange Commission (SEC) 1934 | regulated the stock exchange and investment advisers |
| Wagner Act (National Labor Relations Act) 1935 | Guaranteed labor the right to form unions and practice collective bargaining. |
| Social Security Act (SSA) 1935 | 1. Provides old age insurance 2. Unemployment insurance 3. Gave assistance to dependent children, elderly, ill, and handicapped |
| Works Progress Administration (WPA) 1935 | RELIEF. Created to build schools, libraries, and cultural centers. Employed musicians, painters, and writers. |
| Keynesian Economics | The theory, that purposeful government intervention in the economy (through lowering or raising taxes, interest rates, and government spending) can affect the level of overall economic activity and thereby prevent severe |
| Dust Bowl | farmers suffered from giant dust storms that resulted from a drought |
| Tennessee Valley Authority (TVA) 1933 | RELIEF. Provided jobs, cheap electricity, and flood control to rural areas through dams. |
| Senator Huey Long | Proposed a "Share Our Wealth" program that taxed the rich and gave money to the poor |
| Frances Townsend | proposed the Old Age Revolving Pension Plan, which would give $200 a month (about $3,300 today) to citizens over the age of sixty. |
| Rugged Individualism | Hoover's belief that the government should not be involved in the economy, the economy will fix itself, and hard work earns its own rewards |