Vocabulary
Define the New Deal
a series of schemes, policies, public works projects, and financial reforms introduced by FDR in response to the depression
What year did the Great depression begin?
1929
What were the fireside chats?
The fireside chats were a series of evening radio addresses given by Franklin D. Roosevelt.
What was the purpose of New Deal agencies?
Roosevelt continued to address issues in agriculture and the economy through the agencies. They were used to provide relief and opportunity.
Who was Henry Ford?
Henry Ford had an automobile company and destroyed the unemployment created by the Depression, but also promoted gender quality, as well as boomed the US economy.
Define mortgage
a very large loan made by a bank or other institutions to an individual so they can buy land or a house
What automobile factory impacted the face of industry in the US?
Ford
When was Franklin Roosevelt elected as president?
1932
What was the importance of Roosevelt's first 100 days?
No US government has been able to take so much action in such little time.
Who was Upton Sinclair?
Upton Sinclair was a famous novelist and social crusader from California, who pioneered the kind of journalism known as "muckraking." His best-known novel was "The Jungle" which was an expose of the appalling and unsanitary conditions in the meat-packing industry.
Define the gold standard
an international monetary system which provided a standard economic unit based on a fixed weight of gold
Who were the two presidents during the great depression?
Hoover and Franklin D Roosevelt
What was the New deal time period?
1933-1938
How did the new deal agencies help the economy?
The agencies established stable banking and financial systems. It also provided employment and increased the jobs, even for women and young adults.
Who was Herbert Hoover?
His administration implemented stronger protections for labor and substantially increased federal subsidies for agriculture. Hoover also played a key role in passing the Glass-Steagall Act of 1932, which limited the activities of commercial banks in an attempt to stabilize the banking sector.
Define the dust bowl
In the 1930s, dry weather in the southern US led to severe drought. Huge numbers of agricultural workers migrated to towns and out to California in search of work.
How did banks impact the American's lifestyle?
The banks failed and Americans lost their life saving. Individuals and companies fell into debt.
Name 3 policies that Franklin promised to the citizens...
Relief for the unemployed and poor, recovery of the economy, and reform of the financial system
How did the agencies help agriculture?
The agencies helped farmers financially and provided extra money. They reduced the competition, tenant farming, provided education for farming techniques, and new technology.
Who was Frances Perkins?
Perkins' most important role came in developing a policy for social security in 1935. She also helped form government policy for working with labor unions, although the union leaders distrusted her.
Define pump priming
a process of providing a stimulus to the economy. it includes lowering taxes, increasing government spending, reducing interest rates, or printing more money
What are the five causes of the great depression?
Overproduction, underconsumption, unequal distribution of wealth, unemployment, stock market crash
How successful was the New Deal?
It had some success: the GNP improved, stock market crashes were prevented, and unemployment rates dropped.
Name five policies Roosevelt introduced in the first 100 days.
Emergency banking act, farm relief act, civilian conservation corps, emergency relief administration, national recovery act
Who was Henry Wallace?
farmer and businessman who looked at specific aspects of the economy such as agriculture and the financial system