Term Five - Chap 26 flashcards

Stock Market Crash

A sudden dramatic decline of stock prices across a major stock exchange.

Panic Selling

A sudden sell-off of stocks by investors due to fear of a market downturn.

New Deal

A series of programs and reforms enacted by Franklin D. Roosevelt to respond to the Great Depression.

Credit Crunch

A decline in the general availability of loans or credit, often leading to business layoffs and reduced consumer demand.

Agricultural Adjustment Act of 1933

A U.S. law designed to reduce agricultural production by paying farmers to take land out of cultivation.

Fireside Chats

Informal talks given by President Franklin D. Roosevelt over the radio, meant to explain issues to the public in simple terms.

Hoover Blankets

A term used during the Great Depression referring to newspapers people used to cover themselves to keep warm.

NRA (National Recovery Administration)

A U.S. government agency created to enforce the National Industrial Recovery Act and encourage fair competition.

Social Security Act

A law enacted in 1935 that created a system of old-age benefits and unemployment insurance.

Dust Bowl

A period during the 1930s when severe dust storms greatly damaged the ecology and agriculture of the American Midwest.

Okies

A term used to describe farmers from Oklahoma who migrated to California during the Dust Bowl.

Huey Long's Share Our Wealth Program

A proposal from Huey Long advocating for wealth redistribution from the rich to the poor.

Court Packing Scheme

President Roosevelt's failed attempt to increase the number of Supreme Court justices to gain favorable rulings for his New Deal policies.

Bank Failures

Events when banks are unable to meet their obligations, often resulting in loss of depositor funds.

Bonus Army

A group of World War I veterans who marched on Washington, D.C. in 1932 to demand immediate cash payments for their service.

Tennessee Valley Authority

A federal corporation created in 1933 to provide navigation, flood control, electricity generation, and economic development in the Tennessee Valley.

Father Charles Coughlin

A priest and media personality who used his radio show to promote anti-bank ideology and government control of financial institutions.

WPA (Works Progress Administration)

A New Deal agency that employed millions of job-seekers to carry out public works projects.

Crisis in the 1920s Economy

Economic trends such as inflation, overproduction, and a saturated market that contributed to the Great Depression.

First 100 days of Roosevelt’s term

Focus on relief and recovery and 15 major laws were passed.

Floyd B. Olson

Gained recognition form being Hennepin county attorney. Advocated for minimum wage, supporting the elderly, and government take over.

Supreme court strikes down new deal

Roosevelt comes up with a new plan called the court packing scheme. He wanted 15 supreme court justices and he would nominate 6 as they are appointed by the president.

Dust storm damage

People like Okies wanted to move to promise states so they had a chance a making money due to their crops being decimated.

Pros of the new deal

Restored optimism and hope to Americans

Provided necessary relief to many

Cons of the New deal

Did not really fix the depression

Left the nation with much debt

Left people too dependent on government