Great Depression

Stock Market

Platform for buying and selling shares of companies.

Economic Boom

Rapid economic growth post-World War I.

Get-Rich-Quick Schemes

High-risk investments promising quick profits.

Consumer Goods Demand

Desire for products by consumers, impacting sales.

Housing Market Decline

Decrease in housing prices and sales.

Buying on Credit

Purchasing goods with borrowed money.

McNary Haugen Bill

Proposed government purchase of surplus crops.

Calvin Coolidge

President who vetoed the McNary Haugen Bill.

Herbert Hoover

Republican president elected in 1928.

Al Smith

Democratic candidate attacked for his Catholic faith.

Stock Buying Strategy

Buy low, sell high for profit.

Speculation

Investing in high-risk stocks for potential profit.

Margin Buying

Purchasing stocks with borrowed funds, up to 75%.

Black Tuesday

Date of major stock market crash, October 29, 1929.

Stock Market Catalyst

Crash triggered wider economic depression.

Bank Failures

659 banks closed in 1929, 6,000 by 1933.

Business Bankruptcies

85,000 businesses went bankrupt during the Depression.

Unemployment Rate

13 million workers unemployed by 1933, 25%.

Hawley-Smoot Tariff

1930 law raising tariffs, worsening global trade.

Hoover's Response

Belief in minimal government intervention during Depression.

National Credit Corporation

Government agency with insufficient funds for relief.

Economic Inequality

Disparity in wealth among different economic classes.

Emergency Relief & Construction Act

Government spending of $1.8 billion for relief projects.

Hunger Marches

Demonstrations by unemployed for food and jobs.

American Communist Party

Organized largest hunger march in Washington DC.

Hoovervilles

Shantytowns named after President Hoover.

Hoover Blankets

Old newspapers used as blankets by the homeless.

Hoover Leather

Worn-out shoes of the impoverished.

Hoover Wagons

Cars pulled by horses due to poverty.

Farmers Revolt

Farmers destroyed crops to raise prices.

Foreclosure

Banks repossessing land from struggling farmers.

Hoover Dam

Major project initiated by Hoover for jobs.

Federal Farm Board

Raised crop prices by controlling supply.

National Credit Corp.

Provided loans to prevent bank bankruptcies.

Reconstruction Finance Corp.

Loaned money to businesses for worker salaries.

Bonus Army

WWI veterans marching for early bonus payment.

General Douglas MacArthur

Led military against Bonus Army protesters.

Dust Bowl

Severe drought affecting farming in the 1930s.

Okies

Migrants fleeing Dust Bowl conditions to California.

Impact on Minorities

Higher unemployment and violence against Blacks and Latinos.

Latino Deportations

Hoover deported nearly 2 million Latinos.

Election of 1932

FDR elected as a response to Hoover's failures.

Franklin Delano Roosevelt (FDR)

Democratic nominee promising hope and change.

FDR's Paralysis

Condition affecting FDR's mobility and public image.

FDR's Inauguration Speech

Emphasized hope and facing national challenges.

The New Deal

FDR's series of programs to combat the Depression.

Hundred Days

FDR's first 100 days of intense legislative activity.

Bank Holiday

March 5, 1933, closure of banks for stability.

Emergency Banking Relief Act

Allowed only viable banks to reopen after holiday.

Fireside Chats

Radio speeches by FDR to reassure Americans.

Glass-Steagall Act

Established FDIC to insure bank deposits up to $5,000.

Federal Securities Act

Mandated full disclosure on stock offerings.

SEC

Regulates stock market, prevents insider trading.

Prohibition

Legal ban on alcohol, led to increased crime.

21st Amendment

Repealed Prohibition, allowed states to regulate alcohol.

Deficit Spending

Government spends more than it earns in taxes.

Keynesian Economics

Theory advocating government spending during economic downturns.

AAA

Agricultural Adjustment Act; paid farmers to reduce crop production.

CCC

Civilian Conservation Corps; jobs for young men in conservation.

FERA

Federal Emergency Relief Act; $500 million for direct relief.

PWA

Public Works Administration; funded job creation for infrastructure.

CWA

Civil Works Administration; created 4 million jobs in 1933-34.

NIRA

National Industrial Recovery Act; established fair labor standards.

HOLC

Home Owners Loan Corporation; loans for struggling homeowners.

TVA

Tennessee Valley Authority; built dams for electricity and jobs.

Supreme Court Response

Declared NIRA and AAA unconstitutional in mid-1930s.

Father Charles Coughlin

Critic of New Deal; advocated bank nationalization.

Huey Long

Political critic of New Deal; proposed wealth redistribution.

NRA

National Recovery Administration, part of NIRA.

FDR

Franklin D. Roosevelt, President during the New Deal.

Election of 1936

FDR won easily, seen as a mandate.

WPA

Works Progress Administration, created jobs with $5 billion budget.

NYA

National Youth Administration, employed 2 million young men.

Court Packing Plan

FDR's proposal to add justices to Supreme Court.

Wagner Act

Allowed collective bargaining and protected union workers.

NLRB

National Labor Relations Board, oversees labor practices.

Fair Labor Standards Act

Established minimum wage at 25 cents/hour in 1938.

Social Security Act

Provided old-age insurance and unemployment benefits.

Frances Perkins

First female cabinet member, Secretary of Labor.

Mary McLeod Bethune

Led Minority Affairs in National Youth Admin.

Marian Anderson

Sang at Lincoln Memorial, symbol of cultural progress.

Civil Rights

FDR hesitant to fully support civil rights for Blacks.

Unions

Gained power through collective bargaining from Wagner Act.

CIO

Congress of Industrial Organizations, formed in 1938.

FDIC

Federal Deposit Insurance Corporation, protects bank deposits.

Environmental Conservation

Increased focus on conservation during New Deal.

End of the Depression

New Deal eased depression, but WWII ended it.