Unit 16 Flashcards
term that referred to the stock market collapse of 29 October 1929
Black Tuesday
trying to make a profit on something in the short-term solely by guessing about price fluctuations
Speculation
stock market index that measures the prices of the country’s 30 leading corporations
Dow Jones Industrial Average
buying stock by paying for only a small fraction of the actual stock up front (10%) and borrowing the rest
buying on margin
tariff that raised taxes on agricultural and manufactured goods that deepened the Depression in 1930
Hawley-Smoot Tariff (Tariff Act of 1930)
Herbert Hoover’s approach to the Depression that urged Americans to FREELY do certain things to help the economy
associationalism
under Hoover, it gave loans to banks, corps that would “trickle down” to common people
Reconstruction Finance Corporation
group of 20,000 WWI vets who marched on Washington to get their promised $1,000 war bonus early in 1932
Bonus Army
US general who dispersed the Bonus Army
Douglas MacArthur
FDR’s plan to alleviate Depression
New Deal
term that refers to FDR’s 1st 3 months in office when 15 major pieces of legislation were passed
Hundred Days
bank reform: insured deposits up to $5000 per account (1933)
FDIC (Federal Depositor’s Insurance Corporation)
law that limited buying on margin and bank reform: established Securities and Exchange Commission to enforce new market rules (insider trading)
Securities Exchange Act (1933)
relief to poor: $500 million in relief to poor
Federal Emergency Relief Administration
relief to poor: Put 2 million young men to work in various beautification projects (improving environment)
Civilian Conservation Corps
relief to poor: Put 4 million unemployed to work in various projects ($15 per week)
Civil Works Administration
relief to poor: To refinance mortgages
Homeowners Loan Corporation
agricultural problems: Paid farmers subsidies to reduce land cultivation and herds (to drive up prices)
Agricultural Adjustment Administration
industrial problems: tried to persuade industrial leaders to reduce hours of production and raise wages to at least 30-40 cents/hour
National Recovery Administration
infrastructure: $3.3 billion to build roads, bridges, sewers, hospitals, airports, schools (Hoover Dam!)
Public Works Administration
infrastructure: Controlled flooding of Tenn. River; harnessed power for electricity and developed industry
Tennessee Valley Authority
2nd New Deal: $ to elderly poor, unemployed, disabled, unmarried mothers w/ children; pension for retirement
Social Security Act
2nd New Deal: workers had right to join union; employers had to bargain in good faith
National Labor Relations Act
2nd New Deal: Schools, playgrounds, airports, hospitals, roads, public art projects; employed 30% of unemployed
Works Progress Administration
