Great Depression and New Deal

3 R’s of the New Deal

Relief, recovery, reform

AAA

Program to help farms by raising farm prices

Black Thursday

October 24, 1929: When panicked traders sold almost 13 million stock shares

Causes of the Depression

To much buying with credit, unstable banks, and the Dust Bowl

CCC

Employed about 3 million rebuilding nations, park and planting trees. These people would live in camps

Default

To fail to pay your debts

Demand

The quantity of a food or service that consumers are willing and able to buy

Dust Bowl

Environmental disaster hitting farms in many states. The dirt and sand would coat the air.

Evolution

Breaking free from the norm and trying to do something else to get the full benefit

Fair Labor Standards

Banned child labor and set a minimum wage of 40 cents per hour

FDIC

Guaranteed that money places in insured banks would not be lost if the bank failed

FDR-Franklin D Roosevelt

Leader credited for fixing the Great Depression who opposed prohibition

Final end of the depression

Government spendings on WW2, wartime jobs and military preparations

Great Depression

Worldwide economic slump- Many jobs lost and bank failure

Hoover

President blames for the Great Depression who supported prohibition, unlike FDR

Hoovervilles

Groups of shelters made out of old boxes and other materials by people that had lost their homes due to the Great Depression.

Immigration

The immigration act of 1924 severely restricted the amount of newcomers into the U.S. territory

Inflation

A general increase of prices and fall in the purchasing value of money

Isolationism

Act of turning away or ignoring international issues

Jazz

A style of music and dance that was made popular in the 1920’s. It featured African-American musicians like Louis Armstrong.

KKK

Re-emerging after the 1920’s, the KKK appealed to worries in our changing society. The committed lynchings and other violences against Asians, Jews, Catholics, and African Americans who were seen as a threat.

Migrant worker

Person who moves from place to place to find work in the harvesting industry

The Great Migration

This was a movement in the 1900’s that moved around 6 million African Americans from the south to the north and west

The New Deal

FDR’s new laws and regulations that were put to use to try to fix the Great Depression. Some affects were: the changing stock market, relief for the poor, resource conservation and public works

NRA

A group of businesses that worked together to organize rules and regulations for the economy. Members often used a bald eagle symbol

Prohibition

The 18th amendment is an example of prohibition. It banned the sale of alcohol but was later overturned by the 21st amendment

Public Works

Projects such as highways, parks, libraries, and street cleaning that were paid for by taxes. This also provided more jobs for the unemployed

Radio

This was a new technology that brought American culture together in the bad times

SEC

Regulates and protects the sale of stocks and bonds and punishes dishonest traders

Social Security

Tax on workers that will be later returned when they are in retirement. This decreased the amount of homeless elderly people

Supply

The quantity of goods or services that producers have available for sale

TVA

Organization that controlled nature but also helped it growth. It brought electricity to the rural areas