Great Depression Terms

Price Support
buy surplus products at guarenteed process and sell them on world market

consumer agrees to buy now and pay later; leads to debt

Alfred E. Smith
Democratic Candidate for the presidential election of 1928; lost to President Hoover

Dow Jones Industrial Average
a measure of stock market prices based on thirty leading companies of the new york stock exchange and nasdaq

bought stocks to make quick profit

buying on margin
paying a small amount and borrowing the rest

Black Tuesday
October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929

Great Depression
period lasting from 1929 to 1940 in which US economy was in severe decline and millions of Americans were unemployeed

Hawley-Smoot Tariff Act
a law, enacted in 1930, that established the highest protective tariff in U.S. history, worsening the depression in America and abroad.

cities full of homeless people; lived in little shacks made from scrap metal

soup kitchen
charities served meals to the needy

bread line
those who couldn’t afford to buy food; offered free food

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.

direct relief
cash/food given directly to the poor by government
*Hoover didn’t believe in this

Herbert Hoover
reluctant to help people during the depression; didn’t believe in government help from charities

Boulder Dam
$700 million project; generate electric power

Federal Home Loan Bank Act
lowered mortgage rates; congress hoped it would help farmers change the terms of their mortgages; protects farms from foreclosures

Reconstruction Finance Corporation
created by Hoover; authorized $2 billion for emergency financing

Bonus Army
gives bonus/renewable life insurance policy to world war 1 veterans

Franklin D. Roosevelt
President of the US during Great Depression and World War II

New Deal
purpose was to alleviate problems of the depression
3 goals: relief, economic recovery, financial reform

Glass-Steagall Act
established FDIC, which provided federal insurance for bank accounts

Federal Securities Act
made companies give accurate stock information

Agricultural Adjustment Act (AAA)
raised crop prices by lowering production

civilian conservation corps
put youg men to work building roads and planting trees

National Industrial Recovery Act (NIRA)
set codes of fair practice for industries

Deficit spending
spending more money than the government receives in revenue

huey long
early supporter of New Deal but wanted to be president
proposed program called Share Our Wealth

Eleanor Roosevelt
traveled around the country and reported to president on the suffering of the poor; one of the best first ladies; FDR’s best advisor
spoke for women and minorities

Works Progress Administration (WPA)
set out to create jobs as quickly as poosible
used millions of workers to create hospitals and schools
sewing groups made clothes from the needy

National Youth Administration (NYA)
provided aid and part time jobs to many high school and college students
allowed them to get an education even in tough economic times

Wagner Act (Same as NLRB)
replaced NIRA that was struck down by supreme court
supported workers rights to collective bargaining
banned unfair labor practices
set up NLRB to enforce these reforms

Social Security Act
1. Old Age Insurance
2. Aid to disabled and families with children
3. unemployment compensensation

Frances Perkins
became first female cabinent member
helped created social security systems

Mary McLeod Bethune
educator who became head of minority affairs office of NYA

Marian Anderson
first black women to perform in front of Lincoln Memorial

John Collier
appointed by FDR as commissioner on Indian affairs

New Deal Coalition
Alliance of southern conservatives, religious, and ethnic minorities who supported the Democratic Party for 40 years

Congress of Industrial Organizations
unions broke away to form CIO; made of people expelled from AFL

a federation of North American labor unions that merged with the Congress of Industrial Organizations in 1955

Gone with the Wind
depression era film; considered to be one of the greatest of all time

Orson Welles
most famous radio broadcaster; radio show “war of the worlds”
-so realistic that it convinced many martians had landed in New Jersey

Grant Wood
“american gothic”
-remains symbol of the great depression

richard wright
African American writer
wrote Native Son (1940)
about a young man trying to survive in a racist world

The Grapes of Wrath
written by Steinback
about Great Depression/Dust Bowl

Federal Deposit Insurance Corporation (FDIC)
able to get money out of banks
protected against bank failures

Securities and Exchange Commission (SEC)
regulates banking and investment activities

National Labors Relations Board (NLRB)
gave federal government a greater role in shaping economic state
mediator in labor disputes between union and employers

government supported level for prices of agricultural products, intended to keep farmes income steady

Tennessee Valley Authority (TVA)
helped prevent floods and provided electricity

1920’s lifestyle no savings, age of prosperity, people didn’t join unions, purchasing things on credit stock a unit of ownership in a company WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR YOU FOR ONLY $13.90/PAGE Write …

Laissez faire Idea that government should not interfere in the economy Hoovervilles Popular name for shanty towns built by homeless people during the great depression WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR YOU FOR ONLY …

the great depression a time period during the 1930s when there was a worldwide economic depression and mass unemployment the dust bowl In the 1930’s A series of major dust storms that buried houses, destroyed farmland and killed livestock WE …

Farmers did not share in the prosperity in the 1920’s because… Make enough money on their crops to pay off debts The Great Depression affected… The global economy WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR …

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McNary-Haugen Bill a bill passed by Congress that called for federal price-supports for key products such as wheat and corn in which the government would buy surplus crops at guaranteed prices and sell them on the world market. However, this …

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