APUSH Great Depression and New Deal VOCAB

Black Tuesday

This is the name given to October 29, 1929. This date signaled a selling frenzy on Wall Street--days before stock prices had plunged to desperate levels.

Buying on Margin

the practice of allowing investors to purchase a stock for only a fraction of its price (CREDIT) and borrow the rest at high interest rates.

Hawley Smoot Tariff

A high tariff enacted in 1930 during the Great Depression taxing imported goods.

Bonus March

a protest by several WWI veterans who, in response to the quickly worsening economy, wanted their bonuses early that had been promised to them.

Frances Perkins

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

PWA

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

CCC

Civilian conservation Corps; employed about 3 million men (between 18-25) to work on projects that benefited the public, planting trees to reforest areas, building levees for flood control, and improving national parks, etc.

TVA

Tennessee Valley Authority; A New Deal agency created to generate electric power and control floods in a seven-U.S.-state region around the Tennessee River Valley . It created many dams that provided electricity as well as jobs.

Glass Steagall Act

This act forbade commercial banks from engaging in excessive speculation, added $1 billion in gold to economy and established the Federal Deposit Insurance Corporation (FDIC)

FDIC

a United States government corporation created by the Glass-Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks. Managed Currency.

SEC

Security & Exchange Commission; New Deal agency established to provide a public watchdog against deception and fraud in stock trading.

FHA

Federal Housing Administration. Insured loans made by banks and other private lenders for home building and home buying.

WPA

Works Project Administration; employing millions of unskilled workers to carry out public works projects, including the construction of public buildings and roads, and operated large arts, drama, media, and literacy projects.

Social Security Act

guaranteed retirement payments for enrolled workers beginning at age 65

Father Charles Coughlin

Roman Catholic "radio priest'' who founded the National Union for Social Justice in 1934, promoted schemes for the coinage of silver and made attacks on bankers that carried growing overtones of anti-Semitism.

Francis Townsend

A doctor and critic of FDR's who proposed that everyone 60 years of age or older should get $200 a month as long as they spent it within 30 days.

Huey Long

As senator in 1932 of Washington preached his "Share Our Wealth" programs. It was a 100% tax on all annual incomes over $1 million and appropriation of all fortunes in excess of $5 million. With this money Long proposed to give every American family a comfortable income, etc

“court packing” bill

Roosevelt's proposal in 1937 to "reform" the Supreme Court by appointing an additional justice for every justice over age 70

Roosevelt Recession

a short recession that had increased inflation which would increase interest rates. 1.5 Million workers were laid off and this slowed the recovery process.

Dust Bowl

A drought beginning in 1930 that caused an area from Texas to the Dakotas to be known as the "Dust Bowl;" rainfall decreased, heat increased, farming regions were turned into deserts.