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The Great Depression Flashcards

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8989952302October 25, 1929 - Black TuesdayOn this day share prices on the New York Stock Exchange fell, becoming a pivotal factor in the emergence of the Great Depression. This caused many people to lose their entire life savings as many financial institutions went bankrupt.0
8989952304Buying on MarginPurchasing stock with a little money down with the promise of paying the balance at sometime in the future1
8989952305Rugged IndividualismThe 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.2
8989952307Bonus Army1932 - Facing the financial crisis of the Depression, WW I veterans tried to pressure Congress to pay them their retirement bonuses early. Congress considered a bill authorizing immediate assurance of $2.4 billion, but it was not approved. Angry veterans marched on Washington, D.C., and Hoover called in the army to get the veterans out of there.3
8989952308Fireside ChatsFDR radio addresses to the American People, meant to reassure them4
8989952309President Hooverthe president who was in office when the depression started. He believed that if the government got involved it would only make the depression worse.5
8989952310Massive Unemployment(6 million by 1932)6
8989952311HoovervillesShanty towns that the unemployed built in the cities during the early years of the Depression; the name given to them shows that thte people blamed Hoover directly for the Depression.7
8989952312Dust BowlParts 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.8
8989952313New DealPresident Franklin Roosevelt's programs mean to help overcome the depression; used government spending to stimulate the economy; increased power of the state and the state's intervention in U.S. social and economic life.9
8989952315SSA(Social Security Act) 1935, 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 health10
8989952316FDIC(Federal Deposit Insurance Corporation) A United States government corporation created by the Glass-Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank11
8989952319AAA(Agricultural Adjustment Acts) 1933 and 1938 , Helped farmers meet mortgages. Unconstitutional because the government was paying the farmers to waste 1/3 of there products. Created by Congress in 1933 as part of the New Deal this agency attempted to restrict agricultural production by paying farmers subsidies to take land out of production.12
8989952320CCC(Civilian Conservation Corps) Hired young, unemployed people to do restoration projects throughout the country, employed over 3 million people.13
8989952321NRA(National Recovery Administration) Government agency that was part of the New Deal and dealt with the industrial sector of the economy. It allowed industries to create fair competition which were intended to reduce destructive competition and to help workers by setting minimum wages and maximum weekly hours. It was ruled unconstitutional by the Supreme Court14
8989952324Court PackingAttempt by Roosevelt to appoint one new Supreme Court justice for every sitting justice over the age of 70 who had been there for at least 10 years. Wanted to prevent justices from dismantling the new deal. Plan died in congress and made opponents of New Deal inflamed.15
8989952325TVA(Tennessee Valley Authority Act) Relief, Recover, and Reform. one of the most important acts that built a hydro-electric dam for a needed area.16
8989952326FDR First Inaugural Address- "nothing to fear, but fear itself"17
8989952327Al CaponeChicago gangster who started the first soup kitchen18
8989952328Grapes of WrathJohn Steinbeck's novel about a struggling farm family during the Great Depression. Gave a face to the violence and exploitation that migrant farm workers faced in America19
8989952329Hoboa homeless and usually penniless wanderer20
8989952330Bank Runsudden rush by depositors to withdraw all deposited funds, generally in anticipation of bank failure or closure21
8989952331OkiesDisplaced farm families from the Oklahoma dust bowl who migrated to California during the 1930s in search of jobs.22
8989952332Soil ErosionThe washing or blowing away of the top layer of soil23
8989952333Dorothea LangeA famous photographer who wanted to be one at a young age, and, when the Depression started, landed a job to photograph the Dust Bowl, which have been recognized as showing the desperation and bravery during this time. She didn't stop documenting the suffering of people until her 1965 death, but her 1930s pictures are the most well-known.24
8989952334Farm ReliefThe objective was to raise farm income by cutting the acreages planted or destroying the crops in the field, paying the farmers not to plant anything, and organizing marketing agreements to improve distribution. The program soon covered not only cotton, but also all basic cereal and meat production as well as principal cash crops. The expenses of the program were to be covered by a new "processing tax" levied on an already depressed industry.25
8989952335Reliefaid for the needy; welfare26
8989952337ForecloseTo take property to satisfy a loan27
8989952338Public Worksprojects built by the government for public use28
8989952339Stock MarketA system for buying and selling shares of companies29
8989952340Bull MarketStock market experiences a general rise in prices and stock trading volume for shares over a period of time.30
8989952341SpeculationAct of buying stocks at great risk with the anticipation that the price will rise.31
8989952342Margin CallA demand by a broker that a customer deposit enough to bring his margin up to the minimum requirement32
8989952343Installmenta loan to be repaid in a certain number of payments with a certain interest rate33
8989952344Investspending on capital equipment, inventories, and structures, including household purchases of new housing34
8989952345Bear MarketA steady drop in the stock market over a period of time35
8990016144Hoover's inaugural address"a chicken in every pot and a car in every garage"36
8990040785Relief, Recovery, Reformthe three goals of FDR's New Deal37
9053930338PWA(Public Works Administration) series of construction projects, creating additional jobs38
9053930339CIO(Congress of Industrial Workers) organized labor unions to help industrial skilled and unskilled workers39
9053932842WPA(Works Progress Administration) $11 billion spent to create jobs for workers; controversial aspect was its offering work for artists, actors, writers, and musicians40
9054075788CWA(Civil Works Administration) hired workers directly and put them on the government's payroll41
9054084726SEC(Securities and Exchange Commission) created to regulate the stock market and prevent fraud42
9054157558Snow White and the Seven DwarfsThe first feature-length animated film43
9054215885Twenty-five Percent (25%)Percentage of unemployed people at the height of the Great Depression44

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