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Unit Eight AP US
Mrs. Grieve's Unit Eight (Great Depression - New Deal)
| Question | Answer |
|---|---|
| Black Tuesday | term that referred to the stock market collapse of October 29, 1929 |
| speculation | trying to make a profit on something in the short-term solely by guessing about price fluctuations |
| Dow Jones Industrial Average | stock market index that measures the prices of the country’s 30 leading corporations |
| buying on margin | buying stock by paying only a small fraction of the actual stock up front (10%) and borrowing the rest |
| Hawley-Smoot Tariff (Tariff Act of 1930) | tariff that raised taxes on agricultural and manufactured goods that deepened the Depression in 1930 |
| Reconstruction Finance Corporation | under Hoover, it gave loans to banks, corporations that would “trickle down” to common people |
| Bonus Army | group of 20,000 WW I veterans who marched on Washington to get their promised $1,000 war bonus early in 1932 |
| Douglas MacArthur | US general who dispersed the Bonus Army |
| 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 |
| Franklin D. Roosevelt | Democrat president who helps end the Great Depression with his New Deal program |
| fireside chats | President Roosevelt’s communication tool that explained the New Deal to the American public (used the radio) |
| New Deal | FDR’s plan to alleviate the Depression |
| Hundred Days | term that refers to FDR’s first three months in office when 15 major pieces of legislation were passed |
| Federal Depositor’s Insurance Corporation (FDIC) | bank reform; insured deposits up to $5,000 per account (1933) |
| Securities Exchange Act (1933) | law that limited buying on margin and bank reform; established Securities and Exchange Commission (SEC) to enforce new market rules (insider trading) |
| Federal Emergency Relief Administration (FERA) | relief to the poor; $500 million in relief to the poor |
| Civilian Conservation Corps (CCC) | relief to the poor; put 2 million young men to work in various beautification projects (improving environment) |
| Civil Works Administration (CWA) | relief to the poor; put 4 million unemployed to work in various projects ($15 per week) |
| Homeowners Loan Corporation | relief to the poor |
| Agricultural Adjustment Administration (AAA) | agricultural problems; paid farmers subsidies to reduce land cultivation and herds (to drive up prices) |
| National Recovery Administration (NRA) | industrial problems; tried to persuade industrial leaders to reduce hours of production and raise wages to at least 30-40 cents/hour |
| Public Works Administration (PWA) | infrastructure; $3.3 billion to build roads, bridges, sewers, hospitals, airports, schools and the Hoover Dam |
| Tennessee Valley Authority (TVA) | infrastructure; controlled flooding of Tennessee River; harnessed power for electricity and developed industry |
| Social Securities Act | 2nd New Deal; money to elderly poor, unemployed, disabled, unmarried mothers with children; pension for retirement |
| National Labor Relations Act | 2nd New Deal; workers had right to join union; employers had to bargain in good faith |
| Wagner Act | 2nd New Deal; sets up National Labor Relations Board to investigate unfair labor practices |
| Works Progress Administration (WPA) | 2nd New Deal; schools, playgrounds, airports, hospitals, roads, public art projects; employed 30% of unemployed |
| Wealth Tax Act | 2nd New Deal; highest income tax bracket raised from 59% to 75% |
| Huey Long | Louisiana politician who called for more radical re-distribution of American wealth by guaranteeing each family a $5,000 estate and “sharing the wealth” |
| “Share the Wealth” | program of Huey Long that proposed the redistribution of income of the rich to give every American a guaranteed annual income of $2,000 to $3,000, old age pensions, money for a college education, and veterans benefits |
| Father Charles Coughlin | “radio priest |
| Dr. Charles Francis Townsend | said senior citizens not helped enough by New Deal; sought to give every senior citizen $200 per month; forebearer of Social Security |
| Sick Chicken Case | in Schechter Poultry v United States the Supreme Court struck down the National Industrial Recovery Act as unconstitutional; the decision encouraged Roosevelt to consider ways to change the makeup of the court |
| National Industrial Recovery Act (NIRA) | a law enacted in 1933 to establish codes of fair practice for industries and to promote industrial growth |
| “court packing” attempt of 1937 | FDR’s unpopular attempt to load the Supreme Court with liberal justices to uphold his New Deal Programs |
Created by:
bjgrieve
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