AICE US HISTORY Ch. 4 Review

President Harding

-Winner of 1920 election

-Ohio Gang(his friend group)

-support minimum intervention of gov, in the economy

-died 1923

President Coolidge

-President of the U.S.A in 1923-1929 after Harding died

-nickname SILENT CAL

-supported Laissez-faire

President Hoover

-the president who was in office when the depression started.

-He believed that if the government got involved it would only make the depression worse.

-lame duck president

President Franklin D. Roosevelt

-won in 1932

-New Deal

-only President to serve 4 terms

Hugh Johnson

-Director of the NRA.

Frances Perkins

-helped pass social security act

Francis Townsend

-proposed that everyone over 60 should be granted a federal monthly pension of $200 on condition that they spend it in 30 days

Huey Long

-Political leader from Louisiana who criticized the New Deal

-preached "Share Our Wealth" programs

Andrew Mellon

-Secretary of Treasury under President Harding, Coolidge and Hoover

-Stoked stock market rise

-caused money to flood into NYC

Henry Ford

-American businessman, founder of Ford Motor Company

-father of modern assembly lines

Roy Young

-an American banker who served as the 4th chairman of the Federal Reserve from 1927 to 1930.

Mary McLeod Bethune

-United States educator who worked to improve race relations and educational opportunities for blacks

Okies

-Displaced farm families from the Oklahoma dust bowl who migrated to California during the 1930s in search of jobs

Dust Bowl

-A drought in the 1930s that turned the Great Planes very dry

-caused huge dust storms

Nativism

A policy of favoring native-born individuals over foreign-born ones

Speakeasies

Secret bars where alcohol could be purchased illegally

Flappers

-Young women of the 1920s that behaved and dressed in a radical fashion

Brain Trust

-Group of expert policy advisers who worked with FDR in the 1930s to end the great depression

Anarchist

A person who opposes all forms of government.

The Lost Generation

-Group of writers in 1920s who shared the belief that they were lost in a greedy, materialistic world that lacked moral values and often choose to flee to Europe

The Bonus Army

-Group of WWI vets. that marched to D.C. in 1932 to demand the immediate payment of their gov. war bonuses in cash

Speculation

-An involvement in risky business transactions in an effort to make a quick or large profit.

Securities

stocks and bonds

Black Tuesday

-name given to October 29, 1929, when stock prices fell sharply.

Bull Market

A period of increased stock trading and rising stock prices

Stock Market

A system for buying and selling shares of companies

Buying on the margin

-the purchasing of stocks by paying only a small percentage of the price and borrowing the rest

Court Packing Scheme

-FDR's plan to "pack" the Supreme Court with supporters to keep his New Deal programs from being declared unconstitutional

National Reconstruction Finance Act

-an amendment authorized the Reconstruction Finance Corp(RFC) to loan funds to state and local govs

Glass-Steagull Act

-the 1933 law that established the Federal Deposit Insurance Corporation to protect individuals' bank accounts

-extended Federal Reserve System

FDR's first hundred days

-During his first 100 days in office FDR proposed and Congress passed 15 major bills which became known as "The New Deal". These measures: relief, recovery and reform

-relatively successful overall

New Deal

-A series of reforms enacted by the Franklin Roosevelt administration between 1933 and 1942 with the goal of ending the Great Depression.

Second New Deal

-a new set of programs in the spring of 1935 including additional banking reforms, new tax laws, new relief programs; also known as the Second Hundred Days.

Federal Reserve Board

-A seven-member board that sets member banks reserve requirements, controls the discount rate, and makes other economic decisions.

Wagner Act

-1935, also National Labor Relations Act; granted rights to unions; allowed collective bargaining

Social Security Act

-created a tax on workers and employers. That money provided monthly pensions for retired people.