The New Deal

Flashcards covering key vocabulary, people, and programs from FDR's New Deal era.

New Deal

Franklin Roosevelt’s plan of economic recovery for the US, characterized by trial-and-error attempts to solve problems and fix systemic issues.

Relief (New Deal Category)

A category of New Deal programs aimed at providing immediate assistance, often through short-term government jobs, with results expected within 6 months.

Recovery (New Deal Category)

A category of New Deal programs focused on longer-term job creation and economic stimulation, with results expected within 6 to 18 months.

Reform (New Deal Category)

A category of New Deal programs designed to permanently restructure the American financial system and regulate labor practices, with long-term results.

Banking Runs

Occurred during the Depression when people withdrew their money from banks, believing gold was more stable, leading to bank collapses.

Bank Holiday (March 6, 1933)

Declared by Franklin D. Roosevelt to close all banks and financial institutions for five days to stabilize the banking system and prevent hoarding.

Emergency Banking Relief Act (1933)

Required federal examiners to assess banks' solvency, allowed sound banks to reopen, and provided loans to troubled banks to restore confidence.

Gold Standard

A monetary policy that established a value relationship between gold and the American dollar, facilitating trade and controlling inflation and deflation.

Going off the Gold Standard (1933)

Roosevelt's decision to discontinue the gold standard, causing inflation by increasing the amount of money in circulation.

Federal Securities Act (1933)

Legislation to regulate the stock market, establishing the Securities and Exchange Commission (SEC) to prevent fraud and ensure truthful information about stocks and bonds.

Glass-Steagall Banking Act (1933)

Legislation that separated commercial banking from investment banking and created the Federal Deposit Insurance Corporation (FDIC) to guarantee deposits.

Home Owners’ Loan Corporation Act (1933)

Created the Home Owner’s Loan Corporation to help people keep up with their mortgage payments by restructuring their loans.

Farm Credit Act (1933)

Created the Farm Credit Administration to assist farmers unable to meet mortgage payments on their farms.

Agricultural Adjustment Act (1933)

Paid farmers not to raise livestock, grow certain crops, or produce dairy products in order to increase farm prices.

National Industrial Recovery Act (1933)

Assisted the manufacturing industry, regulated business practices, and coordinated efforts to create fair competition, but faced problems with minimum wages and production decline.

Civilian Conservation Corps (1933)

Employed young men to plant trees, fight forest fires, and build dams and reservoirs under the direction of the US Forestry Service.

Federal Emergency Relief Admin (1933)

Federal program which gave money to state and local government to help them create jobs through relief projects similar to those of the CCC.

Public Works Administration (1933)

Created construction jobs building highways, dams, schools, and government buildings, awarding contracts to private companies without racial discrimination.

Civil Works Administration (1933)

Hired workers to build and improve infrastructure like airports, roads, and schools to provide employment during the winter, but was shut down in the spring.

Works Progress Administration (1935)

Employed over 8.5 million Americans on public works projects like roads, buildings, and airports, also including artists, musicians, and writers.

Social Security Act (1935)

Established old age pensions, unemployment compensation, and assistance for families with dependent children.

Court-Packing Scheme

Roosevelt's proposal to increase the number of Supreme Court justices, which was rejected by Congress due to concerns about presidential power.

Wagner Act (1935)

Protected the rights of American laborers to join unions and collectively bargain, prohibiting unfair labor practices.

Fair Labor Standards Act

Set the maximum work week at 44 hours per week, established a minimum wage of 25 cents per hour, set rules for employees under the age of 16, and banned hazardous work to any person under 18 years of age.