The Great Depression and New Deal Vocabulary

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 bill was vetoed by President Coolidge twice.

Credit
an arrangement in which a buyer pays later for a purchase, often on an installment plan with interest charges

Dow Jones Industrial Average
a measure based on the prices of the stocks of 30 large companies, widely used as a barometer of the stock market’s health

Herbert Hoover
the 31st President of the United States (Republican) who led the country during the beginning of the Great Depression and was negatively looked upon for how he handled the situation

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

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

Shantytown
a neighborhood in which people live in makeshift shacks

Soup kitchen
a place where free or low cost food is served to the needy

Bread lines
lines of people waiting for free food, usually bread

Dust Bowl
the region, including Texas, Oklahoma, Kansas, Colorado, and New Mexico, that was made worthless for farming by drought and dust storms during the 1930s

Direct relief
the giving of money or food by the government directly to needy people

Hoover blankets
old newspaper used as a blanket in negative association with President Hoover

Hoover flags
an empty pocket turned inside out in negative association with President Hoover

National Credit Corporation
a corporation created in 1931 through Herbert Hoover’s persuasion that lent money to lending agencies so that they could then give it to banks on the brink of foreclosure

Federal Home Loan Bank Act
a law, enacted in 1931, that lowered home mortgage rates and allowed farmers to refinance their loans and avoid foreclosure

Reconstruction Finance Corporation
an agency established in 1932 to provide emergency financing to banks, life-insurance companies, railroads, and other large businesses

Bonus Army
a group of World War I veterans and their families who marched on Washington D.C., in 1932 to demand the immediate payment of a bonus they had been promised for military service

Franklin D. Roosevelt (FDR)
the 32nd President of the United States (Democrat) who led the country during the Great Depression as well as the first president to be elected for more than two terms

New Deal
President Franklin Roosevelt’s program to alleviate the problems of the great Depression, focusing on relief for the needy, economic recovery, and financial reform

The Hundred Days
a period of intensive government activity lasting from March 9 to June 16, 1933 in which Congress passed more than 15 major pieces of New Deal legislation

Fireside Chats
One of a series of radio broadcasts made by President Franklin Delano Roosevelt to the nation, beginning in 1933

Glass-Steagall Act
the 1933 law that established the Federal Deposit Insurance Corporation to protect individuals’ bank accounts

Federal Securities Act
a law, enacted in 1933, that required corporations to provide complete, accurate information on all stock offerings

21st Amendment
an amendment ratified on December 5, 1933 that repealed the 18th Amendment which had mandated nationwide prohibition on alcohol

Deficit spending
a government’s spending of more money than it receives in revenue

Huey Long
served as a US senator from 1932 to 1935 who created the Share Our Wealth program in 1934 and challenged the New Deal

Charles Coughlin
a Roman Catholic priest who used the radio to reach a mass audience and at first was a supporter of Franklin D. Roosevelt and the early New Deal proposals

Francis Townsend
an American physician who proposed an old-age pension during the great Depression and fought for human rights

Eleanor Roosevelt
the longest serving First Lady of the United States during her Franklin D. Roosevelt’s presidency

Wagner Act
a law—also known as the National Labor Relations Act—enacted in 1935 to protect workers’ rights after the Supreme Court declared the National Industrial Recovery Act unconstitutional

Social Security Act
a law enacted in 1935 to provide aid to retirees, the unemployed, people with disabilities, and families with dependent children

“Black Cabinet”
an informal group of African-American public policy advisors to United States President Franklin D. Roosevelt that was supported by the first lady Eleanor Roosevelt and was first known as the Federal Council of Negro Affairs

New Deal Coalition
an alliance of diverse groups—including Southern whites, African Americans, and unionized workers—who supported the policies of the Democratic Party in the 1930s and 1940s

Congress of Industrial Organizations (CIO)
a labor organization composed of industrial unions founded in 1938, it merged with the AFL in 1955

Orson Welles
“an actor, producer, director, and writer that created one of the most renowned radio broadcasts of all time, “The War of the Worlds””

Gross National Product the total value of goods and services produced in percent Herbert Hoover an candidate leader that had build an outstanding reputation as a businesslike administrator that guide the prosperous nation, supervise America’s food production during WWI and …

Business cycle recurring fluctuations in economic activity consisting of recession and recovery and growth and decline, a movement of the economy from one condition to another and back again. it has four cycles including prosperity, recession, depression, and recovery Volunteerism …

Roaring Economy to Great Depression It made the economy weaker. What effect did the use of credit have on the economy in the 1920s? WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR YOU FOR ONLY $13.90/PAGE …

Speculation An involvement in risky business transactions in an effort to make a quick and/or large profit Buying on the Margin Buying stocks by borrowing money from a bank or broker; allowed everyday people to buy stock which in part …

Causes of the Great Depression 1. tariffs and war debt policies that cut down the foreign market for American goods. 2. Stock market speculation 3. Bank Failures 4. Fed. Reserve raised interest rates to banks to curb stock market. Effects …

Works Progress Administration (WPA) Hires jobless people to build public buildings and parks. New Deal program of President Franklin D. Roosevelt to end the Great Depression WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR YOU FOR …

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