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The Great Depression
An economic downturn that began after the stock market crash in 1929, leading to widespread unemployment, poverty, and instability.
Stock Market Crash of 1929
A major drop in stock prices that occurred on October 29, 1929, known as Black Tuesday, leading to the onset of the Great Depression.
Hawley-Smoot Tariff
A tariff enacted in 1930 that raised duties on imports, intended to protect American industries but resulted in retaliatory tariffs and further decline in international trade.
Hoovervilles
Shantytowns built by homeless people during the Great Depression, named after President Herbert Hoover, who was blamed for the economic downturn.
Dust Bowl
A devastating drought in the 1930s that severely affected agriculture in the Great Plains, leading to massive displacement of farmers.
Federal Emergency Relief Act (FERA)
A 1933 act that provided direct relief for the unemployed and created jobs through work projects.
Civilian Conservation Corps (CCC)
A New Deal program that provided jobs for young men in environmental conservation projects.
Wagner Act (National Labor Relations Act)
A 1935 law that protected the rights of workers to organize and bargain collectively.
Social Security Act
A 1935 law that created a system of old-age benefits and unemployment insurance for workers.
Reconstruction Finance Corporation (RFC)
A government agency created in 1932 to provide financial support to banks, railroads, and businesses during the Great Depression.
National Industrial Recovery Act (NIRA)
A 1933 law aimed at stimulating economic recovery through the regulation of industries and fair labor standards.
Emergency Banking Act
Legislation passed in 1933 that allowed the federal government to inspect the financial health of banks before they reopened.
Bonus Army
A group of World War I veterans who marched to Washington D.C. in 1932 to demand immediate payment of a bonus they were owed.
The New Deal
A series of programs and reforms enacted by President Franklin D. Roosevelt to combat the Great Depression and provide relief, recovery, and reform to the economy.
Deflation
A decrease in the general price level of goods and services, which contributed to the economic crisis during the Great Depression.
Works Progress Administration (WPA)
A New Deal agency that provided millions of jobs through public works projects, including construction and arts programs.
Glass-Steagall Banking Reform Act
A 1933 law that established the Federal Deposit Insurance Corporation and implemented banking reforms to protect depositors.
Truth in Securities Act
A 1933 law requiring companies to provide accurate information about their financial status to protect investors.
Securities and Exchange Commission (SEC)
A regulatory agency created in 1934 to oversee the stock market and enforce laws against market manipulation.
Second New Deal
A continuation of President Roosevelt's New Deal programs launched in 1935 to further combat the Great Depression.
Supreme Court's opposition to the New Deal
A series of rulings where the conservative majority of the Supreme Court struck down several New Deal programs as unconstitutional.
Second Agricultural Adjustment Act of 1938
Follow-up legislation that continued to provide payments to farmers who followed acreage restrictions for certain crops.
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