| Term | Definition |
|---|
| 1928 Election | Hoover won. Hoover was the Republican candidate while Al Smith was the Democrat. |
| Herbert Hoover | Won the election of 1928 as a Republican. Disliked during the Depression because of the Bonus Army incident and for a tariff imposed during the depression. He created the RFC. |
| Black Thursday | there was an unprecedented amount of selling on wall street, making stock prices plunge |
| Black Tuesday | millions of investors ordered their brokers to sell. There were practically no buyers. |
| Andrew Mellon | economists today partially attribute the collapse of the American banking industry to the popularity among Federal Reserve leadership of hisinfamous "liquidationist" thesis: weeding out "weak" banks was seen as a harsh but necessary prerequisite to the recovery of the banking system. |
| Federal Reserve | controlled and regulated federal banks. |
| Hawley-Smoot Tariff | An act that scheduled the highest tariff rates in history. It set tax increases ranging from 31 to 49 percent on foreign imports. It was to satisfy business leaders to protect themselves from foreign competition. |
| Margaret Sanger | A feminist that fought for birth control during the time. Birth control became more popular during the Depression |
| Reconstruction Finance Corporation (RFC) | It was a government owned corporation for propping up faltering railroads, banks, life insurance companies, and other financial institutions. |
| Priming the pump | Term first used during the Great Depression of the 1930s to describe the practice of pouring money into the financial system and the industrial structure in the hope that it will generate economic activity throughout the system; the beginning of the process that is supposed to lead to significant economic recovery. |
| Rugged Individualism | People are in it for themselves. |
| Farm Holiday Association | A group started in 1932 by Milo Reno. They endorsed the withholding of farm products to the market, in essence creating a strike. |
| Bonus Army | A thousand unemployed WW1 veterans marched to DC demanding immediate payment of the bonuses promised them in 1945. They were then joined by their children and families and camped in shacks near the Capital. Hoover ordered the army to break this up. |
| Stimson Doctrine | a policy of the US government, enunciated in a note of January 7, 1932 to Japan and China, of non-recognition of international territorial changes affected by force. This doctrine followed Japan's seizure of Manchuria. |
| Franklin D. Roosevelt | Democratic candidate and victor in the 1932 election (previously Governor of New York). Polio left his legs paralyzed for life in 1921. Enacted The New Deal and The Hundred Days. |
| 1932 Election | Republican Hoover v. Democrat Franklin D. Roosevelt. Roosevelt won, and the election marked the emergence of a Democratic coalition that would help shape American politics for the next 4 decades. |
| Fireside chats | Roosevelt used the radio to broadcast programs to inspire and console the American people. People claimed that Roosevelt had "given me a job" or "saved my home." |
| Bank Holiday | Roosevelt's euphemism for closing all the banks |
| Frances Perkins | Roosevelt's Secretary of Labor. She was the first woman elected to a cabinet post. |
| Brain Trust | Roosevelt's group of advisors |
| The Hundred Days | Roosevelt's large legislative session to help the economy (it was very effective). Created the Banking Act (opened the banks and convinced Americans that they were safe), the Home Owners Loan Corporation (refinanced home mortgage threatened by foreclosure), and the Glass-Steagall Act (separated investment banking from commercial banking). Also included was the Agricultural Adjustment Act, The National Recovery Administration, and Unemployment Legislation. |
| 20th Amendment | establishes the beginning and ending terms of elected federal officials, as well as set precedents for how often legislative bodies would meet. |
| 21st Amendment | repealed the 18th Amendment and ended Prohibition |
| sick chicken case | A US Supreme Court Case that invalidated regulations of the poultry industry as an unconstitutional executive use of Congress's power. It found the NRA (National Recovery Act) to be unconstitutional in this use of power. |
| Francis Townsend | A Californian citizen who spoke for the nation's elderly who feared poverty in old age. Proposed the Old Age Revolving Pension Plan, which would give $200 a month (a lot of money at the time) to citizens over 60 |
| Father Charles Coughlin | A parish priest from Detroit who challenged Roosevelt's leadership (although he was originally a supporter of the New Deal). Believed that Roosevelt should nationalize the banking system. He tended to rely heavily on inflationist schemes from the Populist era. Anti-Semitic overtones, and did not heavily support representative government. |
| Huey Long (The Kingfish) | A senator, as well as governor of Louisiana. He was Roosevelt's biggest threat. Increased the share of state taxes paid by corporations, and also embarked on public works projects including new schools, highways, bridges, and hospitals. However, seized almost dictatorial control of the state government. Believed that the New Deal was not radical enough. |
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