1930's the Great Depression Vocabulary

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This is a study of terms regarding the Great Depression

Bull Market

a market characterized by rising prices for securities

Bear Market

a market characterized by falling prices for securities

margin buying

paying part of the cost and borrowing the rest from brokers

Black Thursday

October 24, 1929; almost 13 million shares sold that day alone

Black Tuesday

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

Great Depression

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

Business Cycle

recurring fluctuations in economic activity consisting of recession and recovery and growth and decline

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.

Breadlines

It was embarrassing for Americans to accept aid. However, during the Depression, breadlines stretched for blocks outside of soup kitchens. This shows that the average American in the depression was having a hard time even just to eat

Shantytowns

Unplanned slum development on the margins of cities, dominated by crude dwellings and shelters made mostly of scrap wood, iron, and even pieces of cardboard.

Andrew Mellon

the Secretary of the Treasury during the Harding Administration. He felt it was best to invest in tax-exempt securities rather than in factories that provided prosperous payrolls. He believed in trickle down economics. (Hamiltonian economics)

Franklin D. Roosevelt

32nd US President - He began New Deal programs to help the nation out of the Great Depression, and he was the nation's leader during most of WWII

New Deal

the historic period (1933-1940) in the U.S. during which President Franklin Roosevelt's economic policies were implemented

Bank Holiday

closed all banks until gov. examiners could investigate their financial condition; only sound/solvent banks were allowed to reopen

Federal Deposit Insurance Corporation

a federally sponsored corporation that insures accounts in national banks and other qualified institutions

Civilian Conservation Corps

Relief: (CCC) March 31, 1933; reduced poverty/unemployment, helped young men and families; young men go to rural camps for 6 months to do construction work; $1/day; intended to help youth escape cities; concerned with soil erosion, state/national parks, telephone/power lines; 40 hr weeks

National Industrial Recovery Act

A New Deal legislation that focused on the employment of the unemployed and the regulation of unfair business ethics. The NIRA pumped cash into the economy to stimulate the job market and created codes that businesses were to follow to maintain the ideal of fair competition and created the NRA.

Agricultural Adjustment Administration

attempted to regulate agricultural production through farm subsidies; reworked after the Supreme Court ruled its key provisions unconstitutional in 1936; coordinated agricultrual production during WWII, after which it was disbanded

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.

Share Our Wealth Works Program

The program would empower the government to seize wealth from the rich through taxes and then provide a guaranteed minimum income and a home to every American family

National Youth Administration

(NYA) provided education jobs counseling and recreation for young people. part time positions at schools for students allowed for aid in h.s. college and grad school. part time jobs for drop outs

Social Security Act

guaranteed retirement payments for enrolled workers beginning at age 65; set up federal-state system of unemployment insurance and care for dependent mothers and children, the handicapped, and public health

Wagner Connery Act

guaranteed labor's right to organize unions and collectively bargain.

Congress Industrial Organizations

Founded by John L. Lewis in 1938. They broke from the AFL. It was more open to women and minorities. Included skilled and unskilled workers.

Sit-Down Strikes

work stoppage in which workers refuse to leave a factory

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.

Federal Project Number One

This program sought to encourage pride in American culture by providing work to artists.

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