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The Great Depression

Mr. Hydes 8th grade Great Depression test study guide. Terms 'n' stuff from syllabus. Does not include trickle-down economics.

Terms

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Bank "panics" or "run"
When banking system was crumbling, people rushed to the banks to get their deposited money. Many banks couldn't keepup with the demands and closed, so people lost their funds.
Laissez faire
A policy based on the idea that the government should play as small a role as possible in the economy.
national debt
The total sum of money the government owes.
Dust Bowl
Parts of Oklahoma, Kansas, Colorado, New Mexico, and Texas that were hit hard by dry topsoil and high winds that created blinding dust storms; this area of the Great Plains became called that because winds blew away crops and farms, and blew dust from Oklahoma to Albany, New York.
"Fireside Chats"
30 radio speeches given by FDR, called that because he spoke from a chair near the fireplace in the White House. Families gathered in homes to hear him talk and felt he understood their problems.
Black Tuesday
Tuesday, October 19, 1929. Many people sold their shares, prices dropped because there were no buyers, and people lost their fortunes overnight. It was the beginning of the Great Depression.
The Hundred Days
First 100 days of FDR's presidency; during this time, Congress passed 15 major laws.
New Deal
The 3 main goals made by FDR to end the Depression: relief for the unemployed, plans for recovery, and reforms to prevent another depression.
Bonus Army
Congress voted to give WWI veterans an additional amount of money to be paid in 1945. In 1932, the veterans camped in a tent city along the Potomac River to make their statement. Senate rejected the bill to pay them immediately, and so Hoover sent out the military and General MacArthur to deal with them. They were attacked by tanks and machine guns.
Eleanor Roosevelt
FDR's wife, traveled US to promote the New Deal and to defend human rights.
Tennessee Valley Authority
1933 - Built dams to provide cheap electric power to 7 southern states; set up schools and health centers.
Franklin Roosevelt
FDR; Lead US out of the Great Depression with his New Deal, he served 3 terms.
Rural Electrification Administration
1935 - Loaned money to extend electricity to rural areas.
"Bank Holiday"
On FDR's second day of office, he closed every bank in America. Congress passed the Emergency Banking Relief Act, where only banks with enough funds to meet depositor's demands could reopen.
Frances Perkins
Named her as one of his advisors, the secretary of labor, and was the fist woman to hold a Cabinet Post.
Okies
Migrants from the Dust Bowl.
stock
Number of shares a person holds in a particular company
Dorothea Lange
Sent out by the government to record the Great Depression by taking pictures, she took the picture "Migrant Mother".
deficit spending
When government spends more than it recieves in taxes; leads to an increase in national debt.
Great Depression
The period of economic hard times that followed the stock market crash on October 29, 1929. The hard times lasted until 1941.
Agricultural Adjustment Act
1933 - Paid farmers not to grow certain crops.
bankrupt
Unable to pay debts; without money
Herbert Hoover
President from 1929 to 1933, called on businesses to help solve the situation rather than the government. Americans felt he did little to help them.
"Hoovervilles"
Community of shacks or tents where people lived, called Hoovervilles to make fun of President Hoover.
overproduction
Producing more products than can be bought or used, and was one of the causes of the Great Depression.
"Migrant Mother" photo
Taken by Dorothea Lange.
Social Security Act
1935 - Set up a system of pensions for the elderly, unemployed, and people with disabilites.
Federal Deposit Insurance Corporation
1933 - Insured savings accounts in banks approved by the government.
the "Brain Trust"
Group of advisors for FDR.

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