The New Deal (1933-1937)

Flashcards about the New Deal policies and programs during the Great Depression.

New Deal

Franklin Roosevelt's plan of economic recovery for the US, characterized by a trial-and-error approach to solve problems and address crises.

Relief (New Deal)

New Deal programs aimed at providing immediate assistance, often through short-term government job programs.

Recovery (New Deal)

New Deal programs focused on longer-term job creation to reduce unemployment and stimulate the economy within 6 to 18 months.

Reform (New Deal)

New Deal legislation designed to permanently restructure the American financial system and regulate labor practices.

Banking Runs

Mass withdrawals of money from banks by people who feared the value of the dollar would decrease during the Depression, leading to bank collapses.

Bank Holiday (March 6, 1933)

Franklin D. Roosevelt's closure of all banks and financial institutions for five days to stabilize the banking system and prevent hoarding.

Emergency Banking Relief Act (1933)

Federal legislation that assessed the solvency of banks, allowed sound banks to reopen, and provided loans to struggling banks.

Gold Standard

A monetary policy that established a value relationship between one ounce of gold and the value of the American dollar.

Going off the Gold Standard

Roosevelt's decision to discontinue the gold standard, causing inflation and reducing bank runs by de-linking the dollar from gold.

Federal Securities Act (1933)

Legislation to regulate the stock market, establish the Securities and Exchange Commission (SEC), and require companies to provide truthful information about stocks and bonds.

Glass-Steagall Banking Act (1933)

Legislation regulating the banking industry by separating commercial banking from investment banking and creating the Federal Deposit Insurance Corporation (FDIC).

Home Owners’ Loan Corporation Act (1933)

Act that created the Home Owner’s Loan Corporation, a government agency that restructured mortgage loans to prevent foreclosures.

Farm Credit Act (1933)

Act that created the Farm Credit Administration to help farmers unable to meet mortgage payments.

Agricultural Adjustment Act (1933)

Act that paid farmers NOT to raise certain livestock, grow certain crops, or produce dairy products in an attempt to reduce overproduction and raise crop prices.

National Industrial Recovery Act (1933)

Act to assist the manufacturing industry by establishing the National Recovery Administration and regulating business practices to create fair competition.

Civilian Conservation Corps (1933)

Government agency that employed young men to plant trees, fight forest fires, and build dams/reservoirs.

Federal Emergency Relief Admin (1933)

Federal program that gave money to state and local governments to create jobs through relief projects.

Public Works Administration (1933)

Federal government agency that created jobs for construction workers building highways, dams, schools, and government facilities.

Civil Works Administration (1933)

Federal government agency that directly hired workers to build and improve airports, roads/highways, school buildings, playgrounds and parks.

Works Progress Administration (1935)

Largest of all New Deal programs, which employed over 8.5 million Americans and spent $11 billion on public works projects.

Social Security Act (1935)

Landmark legislation that established old-age pensions, unemployment compensation, and assistance for families with dependent children.

Court-Packing Scheme

Roosevelt's unsuccessful plan to increase the number of Supreme Court justices to gain support for New Deal programs.

Wagner Act (1935)

Act that protected the rights of American laborers to join unions and collectively bargain with employers.

Fair Labor Standards Act

Act that set a maximum work week (44 hours), established a minimum wage (25 cents per hour), and set rules for employees under the age of 16.