Chapter 4 AICE U.S. History Review

Herbert Hoover

former head of the food administration, won the 1928 election

Alfred E. Smith

four-time governor of new york, opposed alcohol ban

overproduction

excess goods unsold due to fast production and slow purchasing

farmers crisis

agricultural downfall in the 1920s, crop prices plummeted

uneven wealth

concentration of wealth in few american families in 1929

rising debt

increased credit buying leading to financial strain

speculation

risky investments in stocks or real estate for profit

buying on the margin

purchasing stocks by paying a fraction and borrowing the rest

stock market crash

black Tuesday, october 29th, 1929, led to panic selling

dow jones industrial average

stock index showing industry health, fell drastically in 1929

gross national product (GNP)

total value of country's annual goods and services

hoovervilles

shantytowns of homeless during the great depression

hobos

homeless americans seeking work and a better life

dust bowl

1932 drought in the great plains, causing farm loss

escapism

coping by seeking entertainment to forget troubles

realism

portraying life as it happens, not idealized

the wizard of oz

1939 movie providing fantasy escape during the depression

snow white and the seven dwarfs

1937 walt disney movie loved by depression-era moviegoers

John Maynard Keynes

british economist advocating gov't spending for economy

hoover dam

built on Colorado River for electricity and jobs, 1931-1935

bonus army

WWI veterans seeking bonus payment, faced conflict in 1932

Franklin Delano Roosevelt

1932 democratic nominee, new deal architect

new deal

roosevelt's plan to combat the great depression

urban Workers

group supporting roosevelt in the 1932 election

coal miners

group backing Roosevelt in the 1932 election

laissez-faire

hands-off approach in economics

rugged Individualism

concept of individual self-reliance

business cycle

fluctuations in economic activity

hoover's actions

maintaining stable wages, ending strikes

volunteerism

encouraging patriotism and generosity

public works

government-funded infrastructure projects

fireside chats

FDR's radio addresses to boost morale

emergency banking act

legislation to inspect and stabilize banks

Federal deposit insurance corporation

insured bank deposits up to $5000

works progress administration

funded public works projects and jobs

civilian conservation corps

employed men in environmental conservation

national industrial recovery act

regulated wages, working conditions, and prices

wagner act

protected workers' rights to unionize

fair labor standards act

banned child labor and set a minimum wage

social security act

provided pensions and unemployment insurance

NRA declared unconstitutional

supreme court ruling against the NRA

new deal critics

opposition from various political groups

Father Coughlin

radio priest who criticized FDR

Huey Long

politician who opposed the new deal

court packing scheme

FDR's attempt to expand the supreme court

legacy of the new deal

increased government involvement in citizens' lives

migrant mother

famous dust bowl image of mother and children taken by dorothea lange