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Unit 12 Chapters 21 and 22 (The Great Depression and New Deal)
Terms in this set (46)
Election of 1928
Republican: Herbert Hoover and Democrat: Al Smith. Republicans identified themselves with the booming economy of the 1920s, and Smith's campaign, because Smith was a Roman Catholic, was not as successful because of Anti-Catholic prejudice. Hoover won in a landslide victory
president of the U.S from 1923-1933 leader of the US in the beginning of the great depression. He didn't want the gov involved in the peoples lives and thought that the people should express their individual rights. Supporter of Rugged Individualism. Failed to address the seriousness of the Great Depression. Responsible for Bonus Army.
The practice of making high-risk investments with borrowed money in hopes of getting a big return
October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929
The economic crisis and period of low business activity in the U.S. and other countries, roughly beginning with the stock-market crash in October, 1929, and continuing through most of the 1930s.
The highest import tax in American history to increase jobs by preventing cheaper European goods from entering the country, which was countered by Europe's tariffs and was a major failure. The resulting drop in world trade only made the glut of American factory and farm products harder to sell.
Causes of the Great Depression
*hardships in Europe and rural America
*uneven distribution of wealth
*speculation in the stock market
*increased personal debt
*Overproduction of consumer goods
*crisis in farming
*crisis in banking
where charities or local agencies gave food to the poor. line of people waiting for food handouts from charities or public agencies
term used to describe makeshift shantytowns set up by homeless people during the Great Depression
rural farmers who lost their land but stayed on to work for larger landowners
millions of acres in the Great Plains that were destroyed when dust storms blew away the soil. Farmers had dug up thick prairie grasses to plant wheat, so there was nothing to hold the soil in place.Winds traveling as fast as 100 mile-per-hour winds blew dust clouds 8,000 feet tall in Oklahoma, Texas, New Mexico, and Colorado.
Great Plains farmers forced off their land by the Dust Bowl .
Between 1921-1929, the unemployment rate never rose above 4 percent. By 1933, however, it was near 25 percent. Those who managed to keep their jobs had their wages and hours cut.
Reconstruction Finance Corporation - created in 1932 to lend cash to investors to stimulate the economy
Hoover's strategy battling the Great Depression in which the money is given to the big corporations and eventually they will pay their workers more, and then the workers will spend their money and save the economy.
This structure demonstrated Hoover's belief in business and government and harnessed the power of a river to provide electricity and water supply to 7 states. a dam built in the 1930s, with funding from the federal government, to control the Colorado River.
group of World War I veterans who marched on Washington, D.C., in 1932, to demand early payment of a bonus promised them by Congress. Douglas MacArthur supervised the forced removal of the Bonus Army, which angered many Americans
What little things did Hoover do to help with the Depression?
Asked businesses to keep wages, employment, and prices at current levels.
Called for tax cuts, lower interest rates, and public works
Asked wealthy to donate more money to charity
Roosevelt, the President of the United States during the Depression and WWII. He instituted the New Deal. Served from 1933 to 1945, he was the only president in U.S. history to be elected to four terms.
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, 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)."
FDR's wife and First Lady; known for her active role in the administration. She traveled widely and acted as the president's "eyes and ears."
programs and legislation enacted by FDR during the Great Depression to promote economic recovery and social reform
The Three R's of the New Deal
Relief- Short term. Provide instant relief for those who need it. Recovery- Get back to previous state. Put the U.S. economy on a footing that would make it strong like it was in the 1920s. Reform- fix the economy so that it will never fail to the level that it did during the great depression. Alter the fundamental issues that led to the economic breakdown.
informal radio broadcast in which FDR communicated with the American people
Federal Deposit Insurance Corporation- government agency that insures bank deposits
Tennessee Valley Authority - government agency that built dams in the Tennessee River valley to control floods and generate electric power
Civilian Conservation Corps - New Deal program that provided young men with jobs on environmental conservation projects
National Recovery Administration - New Deal agency that promoted economic recovery by regulating production, prices, and wages. Established codes of fair competition. Set minimum wages for workers and minimum prices for goods
Public Works Administration - government agency that improved the nation's infrastructure and created millions of jobs. Workers built bridges, dams, power plants, and government buildings.These projects improved the nation's infrastructure.
Roman Catholic priest who accused FDR of not doing enough to end the depression
All the banks were ordered to close until new laws could be passed. An emergency banking law was rushed through Congress. The Law set up new ways for the federal government to funnel money to troubled banks It also required the Treasury Department to inspect banks before they could re-open.
first 100 days
Period from FDR's inauguration in March 1933 through the following June. During this time, Roosevelt pushed program after program through Congress in an effort to provide economic relief and recovery.
Securities and Exchange Commission-an independent federal agency that oversees the exchange of securities to protect investors
Agricultural Adjustment Administration: attempted to regulate agricultural production through farm subsidies; sought to end overproduction and raise crop prices.
ruled unconstitutional in 1936; disbanded after World War II
Federal Emergency Relief Administration- Granted funds to state and local agencies to help the unemployed
Civil Works Administration- Gave people jobs on public-works projects
Second New Deal. Works Progress Administration - agency that provided job relief through public-works projects. Workers built highways and public buildings, dredged rivers and harbors, and promoted soil and water conservation. Artists were hired to enhance public spaces.
Second New Deal. Social Security Act - 1935 law that created a pension system for retirees, established unemployment insurance, created insurance for victims of work-related accidents, and provided aid for poverty-stricken mothers and children, the blind, and the disabled
Second New Deal. law that recognized the right of employees to join labor unions and gave workers the right to collective bargaining
Fair Labor Standards Act
Second New Deal. Law that set a minimum wage and a maximum workweek and outlawed child labor
Second New Deal
a new set of programs in the spring of 1935 including additional banking reforms, new tax laws, new relief programs; also known as the Second Hundred Days.
In 1937, FDR proposed adding up to six new Justices to the Court.
Critics attacked this plan as an attempt to expand presidential power. The failed plan weakened Roosevelt politically. However, 1937 marked a turning point in the history of the Supreme Court. It more willingly accepted a larger role for the federal government.
African American leaders who served as unofficial advisers to Franklin D. Roosevelt
Mary McLeod Bethune
educator and special advisor on minority affair in FDR's Black Cabinet
New Deal Coalition
diverse group of southern whites, northern blue-collar workers, midwestern farmers, and African Americans that united behind FDR and the New Deal
Caused by the New Deal. The idea that government assumes responsibility for providing for the welfare of children and the poor, elderly, sick, disabled, and unemployed
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