Watson 3/24/23 Vocab Quiz

Black Tuesday.

October 29, 1929, the day the stock market
"crashed." This mark the end of the Roaring Twenties and the beginning of the Great Depression

Speculation

Buying stock with the hopes you will make a huge profit

Buying on margin

Buying stocks with money borrowed from a bank; pay back with profits made when stock is sold

Dust Bowl

was a period of severe dust storms that greatly damaged the ecology and agriculture. A number of poor land management practices in the Great Plains region increased the vulnerability of the area

Rugged Individualism

The belief that all individuals, or nearly all individuals, can succeed on their own and that government help for people should be minimal.

Direct relief

Went to those in immediate and desperate need; however, work relief, that is, work on government projects in exchange for relief payments, was initiated in order to allow unemployed workers the dignity of working for a wage

Bonus army.

WW1 veterans driven from the capital who wanted their enlistment bonuses immediately instead of in 1945.

The Brain Trust

A group of college professors that advised FDR

Fireside chats

Addressed the fears and concerns of the
American people as well as to inform them of the positions and actions taken by the U.S. government.

FDIC (Federal Deposit Insurance Corporation)

The Glass-Steagall Act created this program, banks were allowed to reopen seven days later, deposits outnumbered withdrawals

Civilian Conservation Corps

Government work relief program that ran from 1933 to 1942 that recruited unemployed young men from urban areas to perform conservation work throughout the nation's forests, parks, and fields.

Public Works Administration

Established in 1933, it reduce unemployment and increase purchasing power through the construction of highways and public buildings.

National Recovery Administration

The Blue Eagle of this program oversaw the drafting and the implementation of the codes of fair competition.

21st Amendment

Allowed the manufacturing, transportation, and sale of intoxicating liquors. The law was appealed because of the increasingly unpopular nationwide prohibition of alcohol.

Securities and Exchange Commission

Established to enforce new regulations:
- No "inside trading" limits on buying on margin, illegal to provide misleading or false information to potential stock buyers.

Deficit Spending

Occurs when government spending exceeds its revenue. This term often refers to intentional excess spending meant to stimulate the economy

Court Packing Bill

FDR proposed Congress give him power to appoint six more Supreme Court Justices

Social Security Act

- federal pension for retired workers 65+
- payments to the unemployed
aid to poor, single mothers and the disabled

Works Progress Administration

largest of any of the federal work programs

* paid more than direct relief but less than private sector jobs

* sought to create jobs for all types of skills from construction to artists and writers said to have preserved dignity and work ethic of those in the program that direct relief could not

Boondoggling

Made projects last longer and go over budget due to a decrease in work ethic from workers

Interventionism

A policy that involves government action in the economic activities of the citizen and business in order to promote the "good" of the people

Wagner Act

- protected the rights of workers and of unions to organize and to collective bargaining with management
- prohibited unfair labor practices such as threatening workers or firing them because they unionized