The Great Depression

Hundred Days

Term to describe first 3 months of FDR's administration known for its rapid passage of laws

Dow Jones

This is an index that averages the value of 30 'Blue Chip' companies on the Stock Market and is considered a 'Thermometer' of economic health

Speculation

Gambling the stock market by buying stocks without doing any research

Crash (of 29)

Massive drop in the value of stocks of corporations sold on the New York Stock exchange

New Deal

FDR's plan for economic reform

CCC (Civilian Conservation Corp)

New Deal program that put young men to work on state parks and environmental projects

Eleanor

FDR's Eyes and Ears

Glass Steagall

Banking act which prohibited banks from investing savings deposits in the unpredictable stock market

Fireside Chat

Radio addresses that outlined his policies and reassured public

FED (Federal Reserve)

Gov agency created by Wilson that regulates amount of money in circulation through raising or lowering interest rates but failed to curb risky investing during 20s by keeping interest rates too low

Hoover Dam (Boulder Dam)

Hoover's massive public works project to build a dam on Colorado River which provided jobs, electricity and hope

Bonus Army

Protest of WWI vets which doomed Hoover's reelection

Shearing the Sheep

Practice by insiders to generate false buzz about stock to drive up prices & then 'fleece' unknowing speculators

Volunteerism

Hoover's request for businesses/labor leaders to voluntarily keep wages, employment, and prices at current levels which failed to stop the Depression

Distribution of Wealth

This was 'Uneven' during the 20s and was a cause of the Great depression b/c consumers did not have the $ to buy stuff

TVA (Tennessee Valley Authority)

Built dams in Appalachian region to provide electricity, tourism, and jobs to Appalachia

Fear itself

FDR reassuring inaugural phrase of the only thing we have to fear is ..

Bank Run

When panicked depositors rushed to the banks to withdraw their savings before the bank closed

Welfare Check

Gave $500 million directly to relief agencies to give to unemployed

Bank Holiday

FDR's euphemistic phrase of closing the banks in order to make sure they were sound and reassure the public

Reconstruction Finance Corporation

Hoover's program of economic aid to Big Business in the hope for a trickle down effect

Great Depression

Massive economic decline from 1929-1939 marked by high unemployment, massive business, bank and agricultural failures

Buying on Margin

This abuse of credit involved buying stocks on credit

Haley Smoot

Tariff signed by Hoover which raised taxes on imports to record levels and greatly exacerbated the Depression

Laissez faire

Economic policy and system to which the 20s presidents ascribed

Underconsumption

Economic factor in late 1920s in which too many products manufactured and not enough people to buy them

Black Tuesday

October 29, 1929 (The Day of the Crash)

Bull Market

Term for a stock market where prices of stocks continuously rise, thereby attracting new investors

The Great Crash

Massive drop in the value of stocks of corporations sold on the New York Stock exchange

Hawley Smoot

Tariff which greatly raised taxes on imports and let to "Tariff me?!, Tariff YOU!!"

"Third Alternative" laissez-faire capitalism

Hoover's economic view that government should serve as a guide against unrestrained capitalism

Lindberg Kidnapping

Major cause celebre of the Great Depression when the baby of a famed aviator was taken for ransom

Dust Bowl

Ecological disaster in the Great Plains region characterized by drought, Black Blizzards, mass migration

Woodie Gurthie

Folk singer and voice of the common man during the Depression

Keeping up Appearances

Phrase used for people who created illusion of success and normalcy

Penny Auction

Federal Emergency Relief Administration (FERA)

Gave "dole"(unemployment benefit) welfare money to relief agencies to give to unemployed

National Recovery Administration (NRA)

Created a "Blanket code" for all businesses to follow (over 700) in order to create fair competition

Schechter v US (1934)

Supreme Court case that declared parts of the NRA unconstitutional

Eleanor Roosevelt

FDR's eyes and ears who kept him connected with Americans

Glass-Steagall Act

Prohibited banks from investing savings deposits in the unpredictable stock market

Tennessee Valley Authority (TVA)

Built dams in Appalachian region to generate electricity, provide jobs, tourism

Federal Deposit Insurance Corporation (FDIC)

Guranteed savings account of depositers for up to $5 thousand

Fireside Chats

FDR's method of connecting with Americans via radio broadcasts