Interwar Period

Black Tuesday

Black Tuesday

market completely crashes 30 billion lost

Black Thursday

Massive sell off of stocks when prices were at an all-time low

New Deal

A series of reforms enacted by the Franklin Roosevelt administration between 1933 and 1942 with the goal of ending the Great Depression.

Tariffs

Taxes on imported goods speculation the practice of making high-risk investments with borrowed money in hopes of getting a big return

Overproduction

A condition in which production of goods exceeds the demand for them

Stocks on Margin

buying stocks without putting up the full value of the purchase

Installment buying

A consumers buys products by promising to pay small, regular amounts over a period of time credit the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.

False advertising

advertising that is misleading in some important way

Protective Tariff

A tax on imported goods that raises the price of imports so people will buy domestic goods

Volunteerism

Hoovers belief that people should help fix the problems of the depression Rugged Individualism Herbert Hoover's belief that people must be self-reliant and not depend upon the federal government for assistance.

Smoot-Hawley Tariff

One of Herbert Hoover's earliest efforts to protect the nation's farmers following the onset of the Great Depression.

Tariff

raised rates to an all-time high.

Hoovervilles

Depression shantytowns, named after the president, whom many blamed for their financial distress

Glass-Stegall Act of 1933

separated commercial banks from investment banks

Federal Deposit Insurance Corporation (FDIC)

the government agency that insures customer deposits if a bank fails

Securities and exchange commission (SEC) (1934)

Regulated stock market Farmers Relief Act paid farmers in order for farmers to decrease production

Agricultural Adjustment Act (AAA)

Gave farmers money to reduce crop size to reduce production and bring up the value of crops

National Industrial Recovery Act

permitted all workers to join unions of their choice, allowed workers to bargain collectively for wage increases and benefits, allowed workers to go on strike to try to force employers to meet their demands

National Recovery Administration

Enforced codes that regulated wages, prices, and working conditions

National Labor Relations Board

enforces procedures whereby employees may vote to have a union and for collective bargaining

Fair Labor Standards Act 1938

act which provided for a minimum wage and restricted shipments of goods produced with child labor

Public Works Administration

New Deal agency that provided millions of jobs constructing public buildings

Works Progress Administration

New Deal agency that helped create jobs for those that needed them. It created around 9 million jobs working on bridges, roads, and buildings.

Federal Emergency Relief Administration

relieved household unemployment by creating new unskilled jobs

Band-aids

Temporary Relief Reform

Spanish Civil War

civil war in Spain in which General Franco succeeded in overthrowing the republican government

Good Neighbor Policy

FDR's foreign policy of promoting better relations w/Latin America by using economic influence rather than military force in the region

Cash and Carry Policy 1939

Law passed by Congress which allowed a nation at war to purchase goods and arms in the US as long as they paid cash and carried merchandise on their own ships.

Lend-Lease Act

50-billion-dollar loan to Great Britain

Atlantic Charter

British and American statement of goals for fighting World War II

Washington Conference (1921)

Conference of major powers to reduce Japanese imperialism

Five-Power Naval Treaty

Britain, France, US, and Japan agree to Naval disarmament

Dawes Plan

Installment plan for Germany, a way to help them pay reparations

Locarno Treaties

A series of treaties that settled Germany's disputed borders with France, Belgium, Czech, and Poland

Kellogg-Briand Pact 1928

agreement in which many nations agreed to outlaw war

Young plan (1929)

Reparations reduced from 6.6 billion to 2

Appeasement

the practice of giving in to aggression in order to avoid war

Anschluss

Union of Germany and Austria in 1933

Munich Agreement

Gave Hitler his supposed "last territorial demand" (the Sudetenland) to avoid war

Nazi-Soviet Non-Aggression Pact

Hitler and Stalin agree on a no 2 front war

Tripartite Pact 1940

alliance between Japan, Germany, and Italy.

Consumerism

a movement advocating greater protection of the interests of consumers

Isolationism

A national policy of avoiding involvement in world affairs

FDR

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 Warren Harding 29th president of the US; Republican; "Return to Normalcy" (life as it had been before WWI-peace, isolation); presidency was marred by scandal

Calvin Coolidge

President who said, "The business of America is business". He supported laissez-faire capitalism and isolationism.

Herbert Hoover

promising the American people prosperity and attempted to first deal with the Depression by trying to restore public faith in the community.

The Wagner Act

guaranteed the right of unions to organize and to collectively bargain with management.

Tennessee Valley Authority (TVA)

A relief, recovery, and reform effort that gave 2.5 million poor citizens jobs and land.

Civilian Conservation Corps

New Deal program that hired unemployed men to work on natural conservation projects

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 health

Dust Bowl

A drought in the 1930s that turned the Great Planes very dry.

Welfare

government aid to the poor Hyperinflation A very rapid rise in the price level; an extremely high rate of inflation.