The Great Depression & World War 2

Welfare Capitalism

when companies provide incentives to build better relationships with employees; health insurance, safety standards, buy stock in the company

Speculation

an investment that is very risky but could yield great profits

Buying on Margin

Purching stock with a little money down with the promise of paying the balance at sometime in the future

Dow Jones Industrial Average

An average of stock prices of major industries

Black Tuesday

October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929

Great Crash

The collapse of the American stock market in 1929

Business Cycle

recurring fluctuations in economic activity consisting of recession and recovery and growth and decline

Great Depression

a severe, world wide economic crisis which lasted from the end of 1929 to the outbreak of World War II.

Gross National Product

The total value of goods and services, including income received from abroad, produced by the residents of a country within a specific time period, usually one year.

Hoovervilles

camps built outside of major cities by people who had lost their homes during the great depression called hoovervilles because the people blamed pre. hoover foe their situition

Dust Bowl

Region of the Great Plains that experienced a drought in 1930 lasting for a decade, leaving many farmers without work or substantial wages.

Dorothea Lange

United States photographer remembered for her portraits of rural workers during the Depression (1895-1965)

Black Thursday

October 24, 1929; almost 13 million shares sold that day alone

Overproduction

A condition in which production of goods exceeds the demand for them

Empire State Building

An office building in New York City, over one thousand feet high. Opened in the 1930s, it was for many years the tallest skyscraper in the world.

21st Amendment

repeal of prohibition

Hawley-Smoot tariff

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

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

New Deal

The name of President Roosevelt's program for getting the United States out of the depression

FDR

Roosevelt, the President of the United States during the Depression and WWII. He instituted the New Deal. Served from 1933 to 1945, he was the only president in U.S. history to be elected to four terms

Hundred Days

FDR's first days of presidency

-when he changed everything about the last president's policies

Bank Holiday

closed all banks until gov. examiners could investigate their financial condition; only sound/solvent banks were allowed to reopen

Public Works Programs

government funded projects to build public facilities

Tennessee Valley Authority

A relief, recovery, and reform effort that gave 2.5 million poor citizens jobs and land. It brought cheap electric power, low-cost housing, cheap nitrates, and the restoration of eroded soil.

Second New Deal

Jan 1935-Sept1935- Reorganized fed program for jobless relief. Assistance to rural poor,Supp for org labor, social welfare benefits for elder, stricker business reg, heavier taxes on wealthy.

Wagner Act

1935; established National Labor Relations Board; protected the rights of most workers in the private sector to organize labor unions, to engage in collective bargaining, and to take part in strikes and other forms of concerted activity in support of their demands.

Social Security System

System established by the 1935 Social Security Act to provide financial security, in the form of regular payments, to people who cannot support themselves.

Eleanor Roosevelt

FDR's Wife and New Deal supporter. Was a great supporter of civil rights and opposed the Jim Crow laws. She also worked for birth control and better conditions for working women

American Liberty League

Organization founded in 1934 to oppose the New Deal

Demagogues

a person, esp. an orator or political leader, who gains power and popularity by arousing the emotions, passions, and prejudices of the people.

Nationalization

changing something from private to state ownership or control

The Court-Packing Scheme

1937 Roosevelt was mad at the Supreme Court b/c they struck down many of his deals. Roosevelt TELLS congress he wants to add 6 more members to S.C. He didnt ask or consult his own members of congress. Acts arrogant

**Biggest Political mistake of his entire time as president**

National Debt

total sum of money a government owes

Revenue

government income due to taxation

Coalition

an organization of people (or countries) involved in a pact or treaty

Sit-Down Strikes

Type of strike in which striking workers refuse to leave the factories so that owners cannot replace them

WPA

Work Progress Administration: Massive work relief program funded projects ranging from construction to acting; disbanded by FDR during WWII

Totalitarian

characterized by a government in which the political authority exercises absolute and centralized control

Fascism

a political system headed by a dictator that calls for extreme nationalism and racism and no tolerance of opposition

Axis Powers

in World War II, the nations of Germany, Italy, and Japan, which had formed an alliance in 1936.

Appeasement

Satisfying the demands of dissatisfied powers in an effort to maintain peace and stability.

Blitzkrieg

"Lighting war", typed of fast-moving warfare used by German forces against Poland n 1939

Allies

the alliance of nations that fought the Axis in World War II and which (with subsequent additions) signed the charter of the United Nations in 1945

Hitler

German Nazi dictator during World War II (1889-1945), Nazi leader and founder; had over 6 million Jews assassinated during the Holocaust

Lend-Lease Act

allowed sales or loans of war materials to any country whose defense the president deems vital to the defense of the U.S

Atlantic Charter

1941-Pledge signed by US president FDR and British prime minister Winston Churchill not to acquire new territory as a result of WWII amd to work for peace after the war

Government Issue

GI - name for American soldiers durring WWII

Pearl Harbor

United States military base on Hawaii that was bombed by Japan, bringing the United States into World War II. Pearl Harbor was attacked on December 7, 1941.

Battle of Stalingrad

a 1942-1943 battle of World War II, in which German forces were defeated in their attempt to capture the city of Stalingrad in the Soviet Union thanks to harsh winter --> turning point of war in Eastern Europe

George Marshall

United States secretary of state who formulated a program providing economic aid to European countries after World War II. The Marshall Plan provided massive American economic assistance to help Europe recover from the war.

Carpet Bombing

Method of aerial bombing in which large numbers of bombs are dropped over a wide area

D-Day

June 6, 1944 - Led by Eisenhower, over a million troops (the largest invasion force in history) stormed the beaches at Normandy and began the process of re-taking France. The turning point of World War II.

Battle of the Bulge

December, 1944-January, 1945 - After recapturing France, the Allied advance became stalled along the German border. In the winter of 1944, Germany staged a massive counterattack in Belgium and Luxembourg which pushed a 30 mile "bulge" into the Allied lines. The Allies stopped the German advance and threw them back across the Rhine with heavy losses.

Yalta Conference

FDR, Churchill and Stalin met at Yalta. Russia agreed to declare war on Japan after the surrender of Germany and in return FDR and Churchill promised the USSR concession in Manchuria and the territories that it had lost in the Russo-Japanese War

Bataan Death March

Japanese forced about 60,000 of americans and philippines to march 100 miles with little food and water, most died or were killed on the way

Battle of the Coral Sea

A battle between Japanese and American naval forces that stopped the Japanese advance on Australia.

Battle of Midway

U.S. naval victory over the Japanese fleet in June 1942, in which the Japanese lost four of their best aircraft carriers. It marked a turning point in World War II.

Battle of Guadalcanal

(1942-1943) World War II battle in the Pacific; it represented the first Allied counter-attack against Japanese forces; Allied victory forced Japanese forces to abandon the island

Battle of Iwo Jima

lasted 6 weeks, several thousand marines, and more than 20,000 Japanese soldiers were killed, this battle is also notable for the famous photograph of US marines lifting the American flag to a standpoint

Battle of Okinawa

First Japanese Home island (only 340 miles from mainland Japan) to be invaded. Island of immense strategic value. Involving over 500,000 troops and over 1,200 ships. Battle showed Japanese determination to resist invasion.

Manhattan Project

code name for the secret United States project set up in 1942 to develop atomic bombs for use in World War II

Bombing on Hiroshima and Nagasaki

nuclear attacks during World War II against the Empire of Japan by the United States of America at the order of U.S. President Harry S. Truman

Holocaust

the Nazi program of exterminating Jews under Hitler

Anti-Semitism

hatred of jews

Concentration Camps

prison camps used under the rule of Hitler in Nazi Germany. Conditions were inhuman, and prisoners, mostly Jewish people, were generally starved or worked to death, or killed immediately.

Kristallnacht

Night of Broken Glass, Nov 9 1938 night when the Nazis killed or injured many jews & destroyed many jewish propertys

Wannsee Conference

A meeting in which the "Final solution" and use of concentration camps were decided in 1942, Heydrich was the chief executor of the "Final Solution". Held in Wannsee, Berlin

Death Camps

camps used under the rule of Hitler in Nazi Germany for the purpose of killing prisoners immediately.

War Refugee Board

Federal agency created in 1944 to try to help people threatened with murder by the Nazis

Office of Price Administration

WWII Office that installs price controls on essential items to prevent inflation

Office of War Mobilization

Federal agency formed to coordinate issues related to war production during World War II

Liberty Ships

large, sturdy merchant ships that usually carried supplies or troops, but were sometimes converted to hospital ships

Wildcat Strikes

Work stoppages involving the primary employer-employee relationship that are neither sanctioned nor stimulated by the union and that violate a no-strike clause in the contract

War Bonds

certificates sold by the United States government to pay for the war.

Deficit Spending

government practice of spending more than it takes in from taxes

Office of War Information

Organization that employed artists, writers and advertisers to shape public opinion concerning World War II. A big propaganda machine.

Victory Garden

a kitchen garden planted during wartime to relieve food shortages

Rosie the Riveter

A propaganda character designed to increase production of female workers in the factories. It became a rallying symbol for women to do their part.

Great Arsenal of Democracy

one of the most famous speeces given by pres. Roosevelt. the term was used of detroit where the auto industry had started to produce the war goods. the specch was given to arouse the people to support the war effort.

Seniority

higher rank than that of others especially by reason of longer service

Propaganda

ideas spread to influence public opinion for or against a cause

Double V Campaign

The World War II-era effort of black Americans to gain "a Victory over racism at home as well as Victory abroad."

The Bracero Program

During WWII, 1942 contract with Mexico to bring over laborers to do work in the US; brought some 200,000 Mexican farm workers into the western United States

Nisei

American-born children of Japanese immigrants; second generation Japanese Americans.

Internment Camps

Detention centers where more than 100,000 Japanese Americans were relocated during World War II by order of the President.

Nisei Soldiers

Japanese Americans born in the US and serving in the US army in Europe, won more commendations than any other unit