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US History Chapter17
Great Depression
| Question | Answer |
|---|---|
| Herbert Hoover | Repub Pres everyone thought was a super business man but sat and watched businesses battle during economic crisis. Pres when Great Depression started |
| Francis Townshend | New Deal critic who focused on the needs of older Americans; his ideas for a pension plan for retirees contributed to the formation of Social Security. Help the elderly |
| FDR | 32nd pres, during Great depression, New Deal,social security,unemployment, FDIC, won election by landslide, stricken with polio,Forgotten man speech |
| Fireside Chats | 30 charismatic radio addresses by FDR meant to feel like he was speaking to Americans in their living room (personalized) supporting , empathasizing and encouraging |
| Charles Coughlin | Catholic priest and popular radio broadcaster who also used Fireside Chats; his broadcasts praised Hitler and criticized Franklin D. Roosevelt’s New Deal policies. |
| Bank Holiday | issued by FDR just after becoming pres to stop the downspin of withdrawals by people that were creating destruction of banks. they were issued closed for 2 days |
| Hundred Days | The resolution of the banking crisis was just the beginning of a critical period of government activity , create New Deal, relief for suffering, recovery of depression economy, subsidy (gov't payments) |
| Banking Crisis | people panicking and taking their money out for fear the banks would lose it. |
| Huey P. Long | Louisiana politician and senator; he criticized the New Deal and set up the Share Our Wealth Society. He wanted to tax wealthy Americans and give more money to poor Americans. |
| John Maynard Keynes | British economist; his revolutionary economic theory provided the basis for some of Franklin D. Roosevelt’s successful policies. |
| CCC (Civilian Conservation Corps) | 1933 Provided jobs on conservation projects to young men whose families needed relief .brought immediate relief to families and provided work for 3 million young men. |
| FDIC | 1933 Established an insurance program for deposits in many banks |
| AAA (Agricultural Adjustment Assoc) | 1933 Encouraged farmers to cut production in return for a subsidy |
| NIRA (National INdustrial Recovery Act) | 1933 Encouraged cooperation among businesses in establishing production and labor practices |
| NRA (National Recovery Assoc) | Businesses following fair-practice business codes displayed the NRA’s blue eagle emblem.government-funded building projects—that would provide jobs. |
| Black Tuesday | October 29, 1929 Billions of dollars lost in a few hours. Since the market never seemed to go down in the 1920s, many people began to act as though it never would. |
| Black Thursday | Major banks and stockbrokers tried to rally the market on Friday. They bought large numbers of stocks, hoping to keep prices from dropping still more. |
| Margin buying (buying on margin) | The understanding was that the investor would pay off the loan when he or she sold the stock. Buying stocks with loans from stockbrokers |
| Federal REserve System | The understanding was that the investor would pay off the loan when he or she sold the stock. Buying stocks with loans from stockbrokers |
| Hoovervilles (Shantytowns) | Property owners evicted tenants who couldn’t pay rent, and banks foreclosed on homeowners. In many communities, sprawling neighborhoods of shacks sprang up on the outskirts of town or in public parks to house the newly homeless. |
| rugged individualism | Hoover: he favored a federal government that played as little role as possible in the affairs of business;unnecessary government not only threatened prosperity but also dimmed the very spirit of the American people |
| Effects of depression | suicide rates rise, anger, despair,shame,homeless, |
| Bonus Army | 15,000 World War I veterans who set up camp near the nation’s capital in May 1932 ;pay them the veteran’s bonus, a cash award they had been promised for their service during the war. not supposed to be paid until 1945. But the men needed the money now |
| REconstruction Finance Corporation | a program that provided aid to struggling banks and other institutions during the Great Depression |
| Smoot-Hawley Tariff | Disasterous (Hoover): The new tariff raised the cost of imported goods for American consumers, making it more likely that they would purchase the cheaper American goods. |
| Breadlines | line of people waiting to receive food from a charitable organization or agency |
| Bear Market | prolonged period in which investment [prices fall accompanied by widespread pessism (time before crash) |
| Bull Market | prolonged period in which investment prices rise in comparison to their historical average (1920s) |
| Voluntarism | belief in voluntary action and cooperation between business and government. He called together many of the nation’s top business and government leaders and urged them not to lay off workers or cut wages |
| Court Packing | FDR schemed to have 6 additional justices appointed when the Supreme Court was attempting to declare his New Deal Unconstitutional |
| Public Works | campaign promise for FDR government-funded building projects—that would provide jobs. |
| Federal Project Number 1 | collective name for a group of projects under the Work Projects admin in the New Deal which sought to extend the relief of the New Deal to artists, actors, writers and musicians |
| Share-Our-wealth | Huey Long developed so no person could accumlulate more than 300 times the worth of the average family fortune,annual incomes limited to $1 million and inheritances capped at $5 million;spread the nations' wealth among the people |
| Roosevelt REcession | MIDDLE 30'S WHEN recovery from great depression stalled and unemployment rate jumped and lasted 13 months; resulted from cut spending and tightened banking |
| Second Hundred Days | Second New Deal: Congress passed laws extending government oversight of the banking industry and raising taxes for the wealthy |
| New Deal | a plan by President Franklin Roosevelt intended to bring economic relief, recovery, and reforms to the country after the Great Depression |
| criticism of New Deal | jobs,Social Security and unemployment insurance,relief programs of 1933 and 1935, FDIC; Less successful @delivering economic recovery, compromised Roosevelts ideals,allowed discrimination,programs not permanent |
| Business Failures | during depression: increase in failure among banks, factories, stores and unem |
| Consumer debt/Use of Credit | the easy availability of credit had allowed many Americans to buy the automobiles, radios, and other assembly line products AS WELL AS STOCKS. By the end of the decade,consumers were reaching the limits of their credit. |
| INcome Gap | By 1929 more than 70 percent of the nation’s families had an income below the level they needed for a good standard of living.the wealthiest 1 percent of the population had seen their share of the national income grow 60 percent between 1920 and 1929 |
| Business Cycles | Reoccuring fluctuating activity that an economy experiences over time (ups and downs) |
| President's Committee for Unempolyment RElief | Hoover plan to promote voluntarists solutions to the unemployment crisis. |
| Global Depression | Great Depression caused world wide phenomenon as opposed to normal local effect |
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KrymeSpree16
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