American History, The Great Depression and the New Deal (Topic 13)

American history, The Great Depression and the New Deal Vocab flash cards (Topic 13), pd 1 - O'Donnell

Herbert Hoover

A Secretary of commerce for the whole 1920's, also an engineer by trade, he paid his own way through Stanford by working at night, he was a self made millionaire and believed in "rugged individualism" (this means that Americans should not seek help from the government) He cut his own salary by 20%, Cut taxes, started construction, created jobs, raised tariff rates, Reconstructed finance corporation, issued a statement that told people "everything was going to be better soon"

speculation

The attempt by investors to purchase at a low price and sell at a high price (Requires that investors time it right, inventors look for signs that could affect the market price, they aren't sure how the price will be affected, so they often make informed guesses)

Black Tuesday

The date, October, 29th, 1929 that the stock market crashed

Hawley-Smoot Tariff

Raised Tariff rates

Hoovervilles

Name given to shanty town; homeless settlements

Hoover Dam

Creates Jobs, controls flooding, generates for las vegas

Reconstruction Finance Corporation

Loaning money to banks and businesses

Bonus Army

Men who fought in WWl were promised $2500 to be paid in 1945, thousands of WWI vet gather in Washington DC to pressure the govt to pay them early, Congress says no so they refuse to leave however this results in them being attacked by the army.

FDR (Franklin Delano Roosvelt)

Teddy Roosevelt's second cousin, was president during 1932, slogan is called "The New Deal", Looked at as one of the top three presidents of all time, leads USA out of the Depression and through WWll, he was also elected 4 times, Harvard graduate, ran for vp in 1920, governor of new york, caught polio in 1921, He was also one of the only handicapped president, Closes every bank in the nation, Wants to streamline government to cut expenses, passed AAA (Agricultural) , Claims to have a mandate for unprecedented growth of the federal government

Eleanor Roosevelt

"Conscience of the new deal", Remind FDR to forget politics and do what's right, fought for civil rights, helped establish "Black Cabinet" and Tuskegee pilot program

FDIC

Insures your account up to 100,000

WPA

Work relief program built roads, Gave work relief to the arts and, had them paint murals

Social Security Act

Pensions for every American who works, payments to disabled, payments to orphans and windows, it is automatically deducted from each paycheck, most people start collecting at 65. (Was a reform to our economy and a form of relief)

New Deal Coalition (Roosevelt Coalition) (Democratic Coalition)

Farmers, Southern white power structure, urban minorites (including jews, hispanics people, black people), organized labor, cosmopolitans

CCC

Work Relief program that gave young men jobs working on conservation projects like national parks

Huey Long

FDR'S biggest critic was a senator from Louisiana that accused FDR of not doing enough to help the poorest Americans.

Fair Labor Standards Act

Sets up minimum wage and maximum hours and overtime pay helps with minimum wage.

New deal

FDR's Program, promised relief, recovery, reform, and made many work relief programs