Depression & FDR
Terms
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- Revenue Act
- 1935- raised taxes on the wealthy and corporations
- On margin
- paid only a fraction of the stock proce and borrowed the rest from their brokers. brokers borrowed money from banks. As long as the value of stocks continued to rise, the buyer could sell later, pay back what he borrowed, and make a profit.
- Bonus Army
- WWI veterans who marched on Washington demanding their $1,000 bonus pay before the 1945 due date
- The Brain Trust
- A group of progressive lawyers, economists and social workers who advised President Roosevelt
- Migrant workers
- people, typically farmers, who move from place to place to harvest fruits and veggies
- Hoovervilles
- Shanty towns that housed many who had lost everything; shelters were built out of old boxes and other discards
- The New Deal
- the legislative and administrative program of FDR designed to promote economic recovery and social reform
- Work relief programs
- established to give needy people gov. jobs
- Relief
- aid for the needy
- Black Thursday
- October 24, 1929, almost 13 million shares sold that day alone
- Fireside Chats
- informational talks given by FDR over the radio; he would sit by the fireplace in the White House; gained the people's confidence
- Unemployment insurance
- Payments to people who lost their jobs; previous employers make the payments
- Stock Exchange
- an organized system for buying and selling shares, or blocks of investments, in corporations
- Second new deal
- a new set of programs and reforms launched by FDR in 1935
- Dust Bowl
- In western kansas and oklahoma, northern texas, and eastern colorado and new mexico; long periods of frought and destructive farming methods ruined farming in the region
- Hundred Days
- the special session of congress that Roosevelt called to launch his new deal programs. it lasted around 3 months (100 days)
- Pension
- a payment, usually for older people once they retire
- The Black Cabinet
- FDR's African American advisors
- Defaulted
- failed to meet loan payments
- Subsidies
- grants of money
- Emergency Banking Relief Act
- Gave President power over the banking system and set up a system by which banks would be reorganized or reopened
- Social Security Act
- Created a tax on workers and employers. This tax was used to provide monthly pensions to retired peoples.
- Public Works
- projects such as highways, parks, and libraries sponsored by the government to...