Vocab
A series of laws and creation of agencies made by President Franklin D Roosevelt to try to relieve people's suffering, recover the old economy, and reform the system to make sure the Great Depression doesn't happen again
New Deal
a law signed by President Franklin D Roosivelt to assist the unemployed and the elderly by having funds be taken out of paychecks to be given to those in need.
a law signed by President Franklin D Roosivelt to assist the unemployed and the elderly by having funds be taken out of paychecks to be given to those in need.
Social Security
A period of time in the 1930's when dust storms roamed around the United States due to overfarming and drought.
The Dust Bowl
A stock crash is when the stock market has a drastic decrease of prices of stocks.
Stock Market Crash
When financial institutions (banks) are closed
Bank Holiday
It was work Relief that provided work for young men 18-25 years old in food control, planting, flood work, etc.
CCC (Civilian Conservation Corp)
It was work Relief that provided work for young men 18-25 years old in food control, planting, flood work, etc.
Camps of homeless due to the great depression during Herbert Hoover's presidency.
Hoovervilles
A federal guarantee of savings bank deposits initially of up to $2500, raised to $5000 in 1934, and frequently thereafter; continues today with a limit of $100,000
FDIC (Federal Deposite Insurance Corporation)
The collective group name for all the laws and agencies that President Franklin D Roosevelt's New Deal
Alphabet Agencies
Massive work relief program funded projects ranging from construction to acting; disbanded by FDR during WWII
WPA (Work Progress Administration)
People afraid that their money would be gone so mass amounts run to the banks to withdraw their money causing banks to fail.
Means to over "guess." Example: The majority of the people felt the stock market will go up, so they greedily buy, when in reality it's the peak already and stock market prices will drop soon.
Overspeculation
Franklin D Roosevelt using the new invention of the radio by having frequent radio broadcasts to inform Americans of what's happening in the country
Fireside Chats
One of the most important acts that created electricity for many rural Tennessee residents
TVA (Tennessee Valley Authority)
Over farming, severe drought, strong winds
Causes of the Dust Bowl
A tax on goods coming into the United States from other countries signed into law by Herbert Hoover in 1930 to try to help increase the Economy of the United States.
Hawley-Smoot Tariff
paying a small percentage of a stock's price as a down payment and borrowing the rest
Buying on Margin
Attempted to regulate agricultural production by paying farmers to plant less and refinancing their mortgages.
AAA (Agriculture adjustment Act)
It created a "safety net" for Americans and larger role for government in our lives.
Legacy of the New Deal
English economist who advocated the use of government monetary and fiscal policy to maintain full employment without inflation (1883-1946)
John Maynard Keynes