Great Depression/New Deal (copy)

Laissez-faire

a policy or attitude of letting things take their own course, without interfering

Herbert Hoover

31st President of the United States (Republican 1929-1933)

Causes of the Great Depression

credit buying, overproduction, less consumer spending, falling stocks

Farming Crisis

Demand for crops fell after WW1

Buying on Credit

people would purchase things and make partial payments on set intervals: installment plans, led to a lot of debt

Cheap Credit

A loan or credit with a low interest rate

Banks in the Great Depression

failed by over investing in the stock market

Wealth Inequality

the unequal distribution of assets within a population

Hawley-Smoot Tariff

charged a high tax for imports thereby leading to less trade between America and foreign countries along with some economic retaliation

Hoovervilles

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

YMCA

Young Men's Christian Association, organization meant to provide healthy activities for young workers in the cities.

Hobos

a homeless and usually penniless wanderer

Dust Bowl

A drought in the 1930s that turned the Great Planes dangerously dry

Causes of the Dust Bowl

drought, overuse of the land, high winds

Escapism

avoiding reality by diverting oneself with amusements/arts

Oakies

the name commonly given to refugees from the Great Plains seeking to escape the dust bowl (Oklahoma)

Bonus Army

Group of WWI vets. that marched to D.C. in 1932 to demand the immediate payment of their goverment war bonuses in cash

Volunteerism

the practice of offering your time and services to others without payment

Localism

The policy whereby problems could best be solved at local and state levels (Hoover introduced this during the Depression)

unemployment

the number of people who are actively looking for work but aren't currently employed

Mexican Repatriation

half a million Mexican-American workers were forcibly sent back to Mexico

Effects of the Great Depression in Europe

increased unemployment and tariffs

1932 election

FDR vs. Hoover. FDR and the Democrats carried 42 of the 48 states and won in a landslide

FDR

32nd President of the United States, Roosevelt instituted the New Deal. Served from 1933 to 1945;only president in U.S. history to be elected to four terms

"There's nothing to fear but fear itself"

A quote by FDR

The New Deal

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

Elenor Roosevelt

First lady to FDR, involved in humanitarian and diplomatic efforts around the world. Represented US in UN.

Bank Holiday

closed all banks until government examiners could investigate their financial condition

Fireside Chats

radio broadcasts made by FDR to the American people to explain his initiatives

FDIC

Federal Deposit Insurance Corporation-federal guarantee of savings bank deposits

SEC

Securities and Exchange Commission - regulates stock market (stock market police)

TVA

The Tennessee Valley Authority-provide navigation, flood control, electricity generation, fertilizer manufacturing, and economic development in the Tennessee Valley

CCC

Civilian Conservation Corps-relief that provided work for young men 18-25 years old in food control, planting, flood work, etc.

FERA

Federal Emergency Relief Administration- combined cash relief to needy families with work relief

NRA

National Recovery Administration- established a system of industrial codes to control production, prices, labor relations, and trade practices

PWA

Public Works Administration- put people to work building or improving public buildings like schools, post offices,etc.

Opposition to the New Deal

\-FDR acting like a dictator and making the government too big

\-Some programs declared unconstitutional (AAA, NIRA)

\-deficit spending and putting the country into debt

deficit spending

government spends more money than it takes in from taxes

Second New Deal

(1935) a new set of programs in the spring of 1935 including additional banking reforms, new tax laws, new relief programs

Supreme Court Packing

Roosevelt's demand to appoint 6 more judges to the Supreme Court so that he would have more power in jurisdiction in his New Deal Programs

Social Security Act

created a tax on workers and employers

\-that money provided monthly pensions for retired people

Wagner Act

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

collective bargaining

negotiation of wages and other conditions of employment by an organized body of employees.

Frances Perkins

U.S. Secretary of Labor from 1933 to 1945, and the first woman ever appointed to the cabinet.

John Collier

Head of the Bureau of Indian Affairs who introduced the Indian New Deal and pushed congress to pass Indian Reorganization Act

Indian Reorganization Act

1934 - Restored tribal ownership of lands, recognized tribal constitutions and government, and provided loans for economic development.

welfare state

A government that undertakes responsibility for the welfare of its citizens through programs in public health and public housing

End of the Great Depression

war production (weapons, etc.) for WWII significantly lowers unemployment