The Great Depression
Terms in this set (35)
This was an arrangement in which consumers would buy something and pay later. This was often in the form of an installment plan which included interest charges.
This was when people bought stocks and bonds on the chance of a quick profit, while ignoring the risks.
buying on margin
This is when people payed a small percentage of a stock's price as a down payment and borrowing the rest.
This was a day (Oct. 29) when the bottom fell out of the market and the nation's confidence, and when shareholders tried to sell before prices plunged even lower, bringing the number of shares dumped that day to 16.4 million, a new record.
This was the period from 1929 to 1940 in which the economy plummeted and unemployment skyrocketed.
Parts of Oklahoma, Kansas, Colorado, New Mexico, and Texas that were hit hard by dry topsoil and high winds that created blinding dust storms; this area of the Great Plains became called that because winds blew away crops and farms, and blew dust from Oklahoma to Albany, New York.
This was as cash payments or food provided by the government to the poor.
President during the Great Depression. Not well liked. Ignored the depression of the country and the lack of jobs and homes. Reacted to the stock market crash by asking businesses not to lay off employees
WWI veterans who marched on Washington demanding their $1,000 bonus pay before the 1945 due date.
After the stock market crash, many Americans proceeded to remove their money from the bank causing many banks to close.
Reached 25% during the great depression
October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929
Governor of New York four times, and was the Democratic U.S. presidential candidate in 1928. He was the first Roman Catholic and Irish-American to run for President as a major party nominee. He lost the election to Herbert Hoover.
(HH) 1930 , charged a high tax for imports thereby leading to less trade between America and foreign countries along with some economic retaliatio, HIGHEST EVER
a severe, world wide economic crisis which lasted from the end of 1929 to the outbreak of World War II.
money or food given directly from the gov. to the needy
The belief that all individuals, or nearly all individuals, can succeed on their own and that government help for people should be minimal. Popularly said by Hertbert Hoover.
Reconstruction Finance Corps
Hoover's attempt to help businesses, government gave loans to companies such as railroads
Election of 1932
the Republican nominee Herbert Hoover and the Democratic nominee Franklin D. Roosevelt. The Republican platform included higher tariffs, keeping the gold standard, and continuation of Hoover policies. The Democratic platform included the repeal of prohibition, a 25% cut in government spending, unemployment aid, and a "new deal" for America. Roosevelt won with 472 electoral votes and all but 6 states. His victory paved the way for his "New Deal' policies and optimism in the country "nothing to fear but fear itself (Inauguration speech)."
The name of President Roosevelt's program for getting the United States out of the depression
Relief, Recovery, Reform
These were the categories into which the New Deal was split. Relief defined by the acts implemented in the area of aid to the unemployment. Recovery put forth measures that would help aid in the speedy recovery of areas hit hardest by the depression. Reform tried to recreate areas that seemed faulty
Civilian Conservation Corps. It was Relief that provided work for young men 18-25 years old in food control, planting, flood work, etc.
Federal Emergency Relief Administration: combined cash relief to needy families with work relief
Public Works Administration. Part of Roosevelts New Deal programs. Put people to work building or improving public buildings like schools, post offices,etc.
Work Progress Administration: Massive work relief program funded projects ranging from construction to acting; disbanded by FDR during WWII
National Youth Administration: established by WPA to reduce competition for jobs by supporting education and training of youth
New Deal program in which banks were inspected by Treasury Department and those stable could reopen
Federal Deposit Insurance Corporation: A federal guarantee of savings bank deposits initially of up to $2500, raised to $5000 in 1934, and frequently thereafter; continues today with a limit of $100,000
an independent federal agency that oversees the exchange of securities to protect investors
Glass-Steagall Banking Act
this gave the President the power to regulate banking transactions and foreign exchange
Agricultural Adjustment Administration: attempted to regulate agricultural production through farm subsidies; ruled unconstitutional in 1936; disbanded after World War II
The Tennessee Valley Authority federation was created in 1933 in order to provide navigation, flood control, electricity generation, fertilizer manufacturing, and economic development in the Tennessee Valley, a region particularly impacted by the Great Depression
1935; established National Labor Relations Board; protected the rights of most workers in the private sector to organize labor unions, to engage in collective bargaining, and to take part in strikes and other forms of concerted activity in support of their demands.
(Home Owners' Loan Corporation) Relief and Recovery. Helped home-owners and mortgage companies. government payed companies for the home-owners so they could keep their homes and pay off w/ lower interest and longer time.
Social Security Act: Relief passed in 1935 to provide Americans with retirement benefits. Mandated unemployment and disability insurance. Workers and employers pay into this fund.