1930’s the Great Depression Vocabulary – Flashcards
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Bull Market
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a market characterized by rising prices for securities
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Bear Market
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a market characterized by falling prices for securities
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margin buying
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paying part of the cost and borrowing the rest from brokers
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Black Thursday
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October 24, 1929; almost 13 million shares sold that day alone
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Black Tuesday
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October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929
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Great Depression
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the economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s
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Business Cycle
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recurring fluctuations in economic activity consisting of recession and recovery and growth and decline
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Herbert Hoover
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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.
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Breadlines
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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
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Shantytowns
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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.
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Andrew Mellon
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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)
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Franklin D. Roosevelt
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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
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New Deal
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the historic period (1933-1940) in the U.S. during which President Franklin Roosevelt's economic policies were implemented
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Bank Holiday
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closed all banks until gov. examiners could investigate their financial condition; only sound/solvent banks were allowed to reopen
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Federal Deposit Insurance Corporation
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a federally sponsored corporation that insures accounts in national banks and other qualified institutions
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Civilian Conservation Corps
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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
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National Industrial Recovery Act
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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.
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Agricultural Adjustment Administration
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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
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Tennessee Valley Authority
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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.
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Share Our Wealth Works Program
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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
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National Youth Administration
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(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
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Social Security Act
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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
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Wagner Connery Act
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guaranteed labor's right to organize unions and collectively bargain.
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Congress Industrial Organizations
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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.
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Sit-Down Strikes
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work stoppage in which workers refuse to leave a factory
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Dust Bowl
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Region of the Great Plains that experienced a drought in 1930 lasting for a decade, leaving many farmers without work or substantial wages.
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Federal Project Number One
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This program sought to encourage pride in American culture by providing work to artists.
