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Depression and FDR vocab

Terms

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Subsidies
grants of money
On margin
this means they paid only a fraction of the stock price and borrowed the rest from their brokers. Brokers, in turn, borrowed their money from banks. As long as the value of stocks continued to rise, the buyer could sell later, pay back what had been borrowed, and make a profit. If that value fell, though, investors and brokers would not have enough cash to pay off the loans
Emergency Banking Relief
gave the president power over the banking system and set up a system by which banks would be reorganized or reopened
Dust Bowl
western Kansas and Oklahoma, northern Texas, and eastern Colorado and New Mexico; long periods of drought and destructive farming methods ruined farming in the region
Fireside Chats
informal talks given by FDR over the radio; sat by White House fireplace; gained the confidency of the people
Public Works
projects such as highways, parks, and libraries sponsored by the government
Work Relief Program
established to give needy people government jobs
Bonus Army
WW1 veterans who marched on Washington demanding their $1000 bonus pay before the 1945 due date
New Deal
the legislative and administrative program of President F.D. Roosevelt designed to promote economic recovery and social reform during the 1930s;
Pension
a payment, usually for older people once they retire
Migrant Workers
people, typically farmers, who move from place to place to harvest fruits and vegetables
Social Security Act
created a tax on workers and employers. That money provided monthly pensions for retired people
Defaulted
failed to meet loan payments
The Black Cabinet
a group of African American advisors to FDR
Hoovervilles
shanty-towns that housed many who had lost everything. Shelters were built of old boxes and other discards.
Second New Deal
a new set of programs and reforms launched by FDR in 1935
The Brain Trust
a group of progressive lawyers, economists and social workers who advised President Roosevelt
Relief
aid for the needy
Unemployment Insurance
payments to people who lost their jobs; previous employers make the payments
Hundred Days
the special session of Congress that Roosevelt called to launch his New Deal programs. The special session lasted about three months
Black Tuesday
October 24, 1929; almost 13 million shares sold that day alone
stock exchange
is an organized system for buying and selling shares, or blocks of investments, in corporations
Revenue Act
1935; raised taxes on wealthy and corporations

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