Hoover Great Depression (Me)

These flashcards cover key terms and concepts related to Herbert Hoover, the Great Depression, and the subsequent New Deal reforms.

Herbert Hoover

Elected president in 1928, believed in continuing prosperity and individualism.

The Great Depression

A severe worldwide economic downturn that took place during the 1930s.

Rugged Individualism

Hoover's belief in self-reliance and individual responsibility.

Hooverization

To do something efficiently for a noble purpose, named after Hoover's food campaigns.

American Food Administration

Hoover's organization that coordinated food relief during WW1.

Quaker Beliefs

Emphasized plain living, education, hard work, and charity over prayer.

Reconstruction Finance Corporation (RFC)

Authorized the government to loan money to failing banks and businesses during the depression.

Bonus Army

World War I veterans who marched in 1932 to demand early payment of their bonuses.

Black Tuesday

The day of the stock market crash on October 29, 1929, marking the start of the Great Depression.

Dust Bowl

A period of severe dust storms caused by drought and poor agricultural practices in the 1930s.

Fireside Chats

F.D.R's radio addresses to communicate directly with the American people.

Civilian Conservation Corps (CCC)

A New Deal program that provided jobs for young men in environmental projects.

Tennessee Valley Authority (TVA)

A government agency created to develop the Tennessee Valley and provide electricity.

Agricultural Adjustment Act (AAA)

A New Deal program that provided subsidies to farmers to reduce crop production.

Public Works Administration (PWA)

A New Deal program that funded large-scale public works projects to create jobs.

Social Security Act

Established a system of old-age benefits and unemployment insurance.

Gold Standard

A monetary system where currency value is directly linked to gold.

Hoover Dam

A major public works project initiated by Hoover to create jobs and provide electricity.

Federal Reserve

The central banking system of the United States, which regulates the economy.

Price Controls

Regulations that set the maximum allowable prices for goods and services.

Clean Plate Club

A slogan promoting food conservation during WW1, associated with Hoover.

Labor Union

An organized association of workers that aims to protect their interests.

Inflation

The rate at which the general level of prices for goods and services rises.

Direct Relief

Immediate assistance provided to those in need without requirements for repayment.

Herbert Hoover’s Optimism

Hoover's belief that the worst effects of the Great Depression would pass quickly.

Hoovervilles

Shantytowns that emerged during the Great Depression, named derisively after Hoover.

Economic Recovery

The process of overcoming recession and restoring economic growth.

Emergency Banking Act

Legislation passed to stabilize the banking system during the Great Depression.

New Deal

F.D.R's series of programs and reforms designed to counter the Great Depression.

Hoarding Gold

The accumulation of gold by individuals as a reaction to financial instability.

Vargas Policies

Economic reforms implemented by Brazilian leader Getulio Vargas in response to the depression.

Valorization

A Brazilian policy aimed at maintaining high coffee prices by regulating production.

Militarization of the Bonus Marchers

The use of military force by Hoover to disperse protesting WWI veterans in 1932.

State and National Parks

Protected areas established for conservation and recreation, involved in CCC projects.

National Housing Act

Created low-income government housing, part of the Third New Deal.

Minimum Wage Law

Legislation establishing a lowest hourly wage that employers can pay.

Skys of Dust

The severe blinding dust storms due to the Dust Bowl, impacting agriculture.

Unemployment Rates

The percentage of the labor force that is jobless and actively seeking employment.

Coup d'état

A sudden, violent, and illegal seizure of power from a government.

Economic Diversification

The process of reducing reliance on a single industry or sector for economic stability.

Sao Paulo Institute

A government program in Brazil aimed at stabilizing coffee prices.

Gold Reserves

The stocks of gold held by a country's central bank as a financial asset.

American Recovery,

The gradual process of recovery from the Great Depression in the U.S.

Dust Pneumonia

Respiratory disease caused by inhaling dust storms, prevalent during the Dust Bowl.

F.D.R's Fireside Chats

A series of evening radio addresses aimed at reassuring the American public.

Public Works Projects

Government-funded construction and infrastructure projects designed to create jobs.

Emergency Banking Holiday

Fr.D.R's temporary closure of banks to prevent a run on banks during the Great Depression.

What is Hoover's view of Optimism during the Great Depression?

Hoover believed the economy would recover quickly.

Define Rugged Individualism as per Herbert Hoover.

Hoover’s belief that people should rely on themselves, not federal handouts.

What was Hoover's concern regarding communism?

Hoover feared radical political influence, exemplified by concerns over the Bonus Army.

What does laissez-faire mean in the context of the economy?

Limited government interference in business.

What is Direct Relief?

Government gives money directly to people, which Hoover opposed.

What is Indirect Relief?

Government gives money to banks/businesses to stimulate the economy, which Hoover supported.

Explain Public Works within Hoover's policies.

Government-funded building projects to create jobs, e.g., Hoover Dam.

What is a panic in economic terms?

Fear-driven bank withdrawals and stock selling.

What does Interest refer to?

Cost of borrowing money.

Define Inflation.

Prices rise; money loses value.

Define Deflation.

Prices fall; money gains value (a major problem during the Great Depression).

What is the Gold Standard?

Currency backed by gold; limits flexibility in the money supply.

What is a Wildcat Strike?

Strike without union approval.

What is the Wagner Act?

New Deal law protecting labor unions during the FDR era.

What does Monetary Tightening mean?

Reducing the money supply; raising interest rates.

What was the Reconstruction Finance Corporation (RFC)?

Hoover’s program loaning money to banks, railroads, and insurance companies.

What is a Tariff?

Tax on imports.

What is a Bank Run?

Mass withdrawal of deposits from a bank.

What are Hoovervilles?

Shantytowns built by the homeless during the Depression.

Define Self Help as a response to the Great Depression.

Community cooperation instead of federal aid.

Who were the Bonus Marchers?

WWI veterans who demanded early bonus payment; the army dispersed them.

What was Henry Ford's significance during the Depression?

Industrialist and symbol of mass production economy; eventually laid off workers.

Who were the Society of Friends?

Quakers who influenced Hoover’s values of charity and self-reliance.

What was Douglas MacArthur's role in the Bonus March?

General sent to remove the Bonus Army using force.

Who is Howard Zinn?

Historian critical of government and economic inequality during the Depression.