APUSH Chapter 24: The Great Depression and the New Deal

Great Depression
the economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s

stock market
an exchange where security trading is conducted by professional stockbrokers

Wall Street
used to allude to the securities industry of the United States

Black Tuesday (October 29, 1929)
stock market crashed, led to panic of 1929

Dow Jones index
Index of 30 largest and most widely held public companies in the United States.

income distribution
the way all the income earned in a country is divided among different groups of income earners

buying on margin
Purching stock with a little money down with the promise of paying the balance at sometime in the future

Gross National Product
total value of all goods and services produced in a nation

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.

Hawley-Smoot Tariff (1930)
Congressional compromise serving special interest, it raised duties on agricultural and manufactured imports. It may have contributed to the spread of the international depression.

debt moratorium
suspension on the payment of international debts passed by Hoover

Farm Board
Created in 1929 before the crash but supported and enacted to meet the economic crisis and help farmers. Authorized to help farmers stabilize prices by temporarily holding surplus grain and cotton in storage.

Reconstruction Finance Corporation
Congress set up $2 billion. It made loans to major economic institutions such as banks, insurance companies and railroads.

bonus march (1932)
1000 unemployed WWI veternas marched to DC to demand immediate payment of the bonuses promised them at a later date. Hoover eventually ordered army to break up the encampment

Franklin D. Roosevelt
often referred to by his initials FDR, was the thirty-second President of the United States. Elected to four terms in office, he served from 1933 to 1945, and is the only U.S. president to have served more than two terms of office. He was a central figure of the 20th century during a time of worldwide economic crisis and world war.

Eleanor Roosevelt
wife of Franklin Roosevelt and a strong advocate of human rights (1884-1962)

Twentieth Amendment (“lame duck”)
shortened the time between the election and inauguration day, also called the “Lame Duck Amendment,” it changed the inauguration date from March 4 to January 20 for president and vice president, and to January 3 for senators and representatives. It also said Congress must assemble at least once a year.

First New Deal
Established to serve the “three Rs” Relief for the people out of work, Recovery for business and the economy as a whole, and Reform of American economic institutions

relief, recovery, reform
the three goals of FDR’s First New Deal.

Brain Trust
Group of expert policy advisers who worked with FDR in the 1930s to end the great depression

Frances Perkins
U.S. Secretary of Labor from 1933 to 1945, and the first woman ever appointed to the cabinet.

Hundred Days
the special session of Congress that Roosevelt called to launch his New Deal programs. The special session lasted about three months: 100 days.

bank holiday
closing of banks for four days during the Great Depression

repeal of Prohibition
FDR kept his campaign promise and repealed the prohibtion of alcohol with the twenty-first amendment which nullified amendment 18

fireside chats
informal talks given by FDR over the radio; sat by White House fireplace; gained the confidence of the people

Federal Deposit Insurance Corporation
a federally sponsored corporation that insures accounts in national banks and other qualified institutions

Public Works Administration
(FDR) , 1935 Created for both industrial recovery and for unemployment relief. Headed by the Secretary of Interior Harold L. Ickes, it aimed at long-range recovery and spent $4 billion on thousands of projects that included public buildings, highways, and parkways.

Harold Ickes
Secretary of the interior who headed the Public Works Administration, which aimed at long-range recovery by spending over $4 billion on some 34,000 projects that included public buildings, highways, and parkways

Civilian Conservation Corps
New Deal program that hired unemployed men to work on natural conservation projects

Tennessee Valley Authority
A relief, recovery, and reform effort that gave 2.5 million poor citizens jobs and land. It brought cheap electric power, low-cost housing, cheap nitrates, and the restoration of eroded soil.

National Recovery Administration
Government agency that was part of the New Deal and dealt with the industrial sector of the economy. It allowed industries to create fair competition which were intended to reduce destructive competition and to help workers by setting minimum wages and maximum weekly hours.

Schechter v. U.S.
Supreme Court case which declared the NRA (National Recovery Administration) unconstitutional

Securities and Exchange Commission
US government agency which oversees the operations of the stock markets which trade stocks, bonds, and other types of securities.

Federal Housing Administration
A federal agency established in 1943 to increase home ownership by providing an insurance program to safeguard the lender against the risk of nonpayment.

Second New Deal
A new set of programs and reforms launched by FDR in 1935

Works Progress Administration
New Deal agency that helped create jobs for those that needed them. It created around 9 million jobs working on bridges, roads, and buildings.

Harry Hopkins
A New York social worker who headed the Federal Emergency Relief Administration and Civil Works Administration. He helped grant over 3 billion dollars to the states wages for work projects, and granted thousands of jobs for jobless Americans.

National Labor (Wagner) Act (1935)
Replaced NIRA. Guaranteed a worker’s right to join a union and a union’s right to bargain collectively. Outlawed business practices that were unfair to labor

Social Security Act (1935)
The greatest victory for New Dealers; created pension and insurance for the old-aged, the blind, the physically handicapped, delinquent children, and other dependents by taxing employees and employers

Father Charles Coughlin
a critic of the New Deal; created the National Union for Social Justice; wanted a monetary inflation and the nationalization of the banking system

Francis Townsend
American physician and social reformer whose plan for a government-sponsored old-age pension was a precursor of the Social Security Act of 1935.

Huey Long
As senator in 1932 of Washington preached his “Share Our Wealth” programs. It was a 100% tax on all annual incomes over $1 million and appropriation of all fortunes in excess of $5 million. With this money Long proposed to give every American family a comfortable income, etc

Supreme Court Reorganization plan
Roosevelt tried to put an extra justice on the Supreme Court for every justice over 70 years old who wouldn’t retire. These justices would be supporters of Roosevelt and there would be a maximum of 15 judges. The plan failed. Congress would not accept.

Congress of Industrial Organizations
Union organization of unskilled workers; broke away from the American Federation of Labor in 1935 and rejoined it in 1955

John L. Lewis
long-time labor leader who organized and led the first important unskilled workers labor union, called in to represent union during sit-down strike

sit-down strike
Work stoppage in which workers shut down all machines and refuse to leave a factory until their demands are met.

Fair Labor Standards Act (1938)
created a minimum wage of 40 cents per hour; set up a maximum of 44 hours per week in a number of industries; banned children under the age of 16 from working in some industries

new Democratic coalition
the alignment of interest groups and voting blocs that supported the New Deal and voted for Democratic presidential candidates from 1932 until approximately 1968, which made the Democratic Party the majority party during that period

John Maynard Keynes
British economist who argued that for a nation to recovery fully from a depression, the govt had to spend money to encourage investment and consumption

depression mentality
millions of people developed an attitude of insecurity and economic concern that would always remain, even in times of prosperity.

drought
a long period without rain

dust bowl
Region of the Great Plains that experienced a drought in 1930 lasting for a decade, leaving many farmers without work or substantial wages.

Okies
the farmers, who in the Great Depression, were forced to move, many moved to Oklahoma

John Steinbeck
American novelist who wrote “The Grapes of Wrath”. (1939) A story of Dustbowl victims who travel to California to look for a better life.

The Grapes of Wrath
The story follows the fortunes of a poor family as they travel from the Dust Bowl region to California. based on the great depression written by John Steinbeck

Marian Anderson
One of the greatest concert singers of her time. First African-American to perform at the Whitehouse. The DAR refused her use of Constitution Hall for a concert, so Eleanor Roosevelt set her up to perform at the Lincoln Memorial.

Mary McLeod Bethune
a member of the Black Cabinet and was appointed director of the Division of Negro Affairs in the NYA

Fair Employment Practices Committee
Enacted by executive order 8802 on June 25, 1941 to prohibit discrimination in the armed forces.

A. Philip Randolph
Black leader, who threatens a march to end discrimination in the work place; Roosevelt gives in with companies that get federal grants.

Indian Reorganization (Wheeler-Howard) Act (1934)
returned lands to the control of tribes and supported the preservation of Native American cultures

Election of 1932 The Republicans nominated Herbert Hoover to run for president in the election of 1932. The Democrats chose Franklin Delano Roosevelt. He had been born to a wealthy New York family and served as the governor of New …

Causes of the Great Depression ♦Uneven distribution of wealth ♦Stock market speculation “buying on the margin” ♦Excessive use of credit ♦Overproduction on consumer goods ♦Weak farm economy ♦Government policies ♦Global economic policies Black Tuesday ♦Stock market crash (Oct. 29, 1929) …

Election of 1928 Al Smith – Dem Herbert Hoover – Rep Hoover victorious because he was Rep (2 previous Pres. were Rep) Maintain prosperity Farming Crisis Over production Shows hard times on horizon WE WILL WRITE A CUSTOM ESSAY SAMPLE …

Hundred Days Period in which the Congress an inconceivable large amount of legislation Glass-Steagall Banking Reform Act Act that provided for the FDIC (1933) WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR YOU FOR ONLY $13.90/PAGE …

buying on margin one of the cause of the stock market crash before great depression where consumers can buy stocks with credit. uninformed investors one of the causes of the stock market crash before the great depression where investors are …

Between May 1928 and September 1929, the prices of the stocks of the major industries doubled in value the steady rise in stock prices between the spring of 1928 and the fall of 1929 was caused by the easy credit …

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