Franklin D. Roosevelt's New Deal and the Great Depression

Vocabulary flashcards defining key programmes, legislation, concepts, and events associated with Franklin D. Roosevelt's New Deal and the Great Depression.

Wall Street Crash of 1929

The financial crash in 1929 that initiated the Great Depression, leading to business closures, collapsed banks, and widespread unemployment across the United States.

New Deal

The series of government programmes introduced by President Franklin D. Roosevelt starting in 1933 to increase government intervention in the economy and address the Great Depression through Relief, Recovery, and Reform.

Relief

The first aim of the New Deal, which focused on providing immediate assistance, such as food, emergency shelter, and financial aid, to impoverished and unemployed Americans.

Federal Emergency Relief Administration (FERA)

A New Deal agency that distributed financial aid to state and local governments to support poor and unemployed families with food and temporary shelter.

National bank holiday

A temporary closure of all American banks declared by President Roosevelt in March 1933 to inspect financial institutions and reopen only financially stable ones.

Federal Housing Administration (FHA)

An agency established in 1934 to enhance access to housing finance by insuring qualifying mortgage loans.

Recovery

The second aim of the New Deal, which focused on restarting the economy, stimulating production, and reducing unemployment through public works and job creation programmes.

Civilian Conservation Corps (CCC)

A programme established in 1933 that employed young men in environmental conservation tasks, such as planting trees, controlling soil erosion, and improving parks and forests.

Civil Works Administration (CWA)

A short-lived New Deal programme that provided temporary jobs repairing roads and public buildings to unemployed workers during the winter of 1933–1934.

Public Works Administration (PWA)

A programme that funded large-scale construction projects to stimulate economic activity and build public infrastructure.

Works Progress Administration (WPA)

An agency established in 1935 that generated millions of jobs building and repairing public infrastructure, including roads, bridges, and schools.

Dust Bowl

A period of severe drought and soil erosion in the Great Plains during the Great Depression that ruined farmland and forced farming families to abandon their homes.

Agricultural Adjustment Act (AAA) of 1933

Legislation that aimed to raise agricultural prices by paying farmers subsidies to reduce production of specific crops and livestock, combating oversupply.

Tennessee Valley Authority (TVA)

An agency created in 1933 to develop the Tennessee River Valley by constructing dams, controlling flooding, improving navigation, and expanding access to electricity.

Reform

The third aim of the New Deal, dedicated to restructuring the financial and banking systems through regulation to prevent future economic crises.

Securities and Exchange Commission (SEC)

A regulatory agency established in 1934 to supervise securities markets and protect investors from stock-market fraud and misleading information.

Glass-Steagall Act of 1933

A banking reform statute that legally separated commercial banking from investment banking to stabilize the financial system.

Federal Deposit Insurance Corporation (FDIC)

A corporation created in 1933 that insured eligible bank deposits to protect savings and prevent bank runs if a bank failed.

Social Security Act of 1935

A landmark law establishing a national social security system that offered retirement benefits for eligible elderly citizens and unemployment insurance for qualifying workers.

National Labor Relations Act of 1935 (Wagner Act)

Legislation that safeguarded workers' rights to form trade unions and engage in collective bargaining with employers over wages and conditions.

Recession of 1937–1938

An economic downturn occurring during Roosevelt's presidency that demonstrated the ongoing fragility of the American recovery prior to the Second World War.