Chapter 26 Terms + People to Know
Terms
undefined, object
copy deck
- Stock on Margin
- MARGIN (by now for only 10%, then when sold pay the additional 90%
- Reconstruction Finance Corporation/ RFC
- The ____ Loaned money to railroads, banks, and insurance companies to help them stay in business. By saving these businesses, Hoover hoped he would also be saving peoples' jobs.
- The Brain Trust
- a group of progressive lawyers, economists and social workers who advised President Roosevelt
- TVA (Tennessee Valley Authority)
- Built damns which blocked floods and provided cheap electricity to seven southern states; set up schools and health centers
- The 100 days
- Another name for the New Deal
- AAA (Agriculture Adjustment Administration)
- Paid farmers to grow certain crops (Subsidy- financial aid from the government)
- Wagner Act (NCRA)
- -Replaces NRA -Unions have the rights to secret ballots, collective bargaining + protected workers
- Fair Labor + Standards Act
- Set wages and hours
- 2nd AAA
- Because there were bad farmlands, they give the farmers a guaranteed price on certain crops + crop insurance (ex: if windstorm destroys crops, farmer can claim insurance)
- N.R.A. (National Recovery Administration)
- Put an emblem on products whose companies followed _____ standards
- EMERGENCY BANKING RELIEF ACT
- Roosevelt declares a bank holiday, examines banks, prevents "run on the banks" (over withdrawal from banks)
- Frances Perkens
- Brain Trust, Secretary of labor, first female member of cabinet
- Charles Conghlin
- radio priest who criticized the banking system and blamed the banks for the depression
- C.C.C. (Civilian Conservation Corporation)
- Sends men 18-25 out of the city, to the West to build bridges, plant trees, work on flood control projects, and build parks
- General Douglas MacArthur
- Ordered by Hoover to to clear the veterans out of Potomac River. Using cavalry, tanks, machine guns, and tear gas, ___________ moved into the camp and burnt it to the ground.
- F.E.R.A. (Federal Emergency Relief Act)
- gave money to state + local agencies, to employ unemployed
- PUBLIC WORKS
- projects built by the government for public use. The government hired workers to build schools, construct dams, and pave highways
- FDIC (Federal Deposit Insurance Corporation)
- Insures bank accounts up to $2500
- RELIEF PROGRAMS
- Helped the needy
- Henry Morgenthal
- Brain Trust, Secretary of Treasury
- Black Blizzards
- a) 1933-1936- severe drought b) Good soil was blown away c) Cause- overgrazing of cattle no grass to hold soil d) Farmers could not grow their crops Oklahoma + Arkansas e) "Okies" (poor farmers from Oklahoma) + "Arkies" (poor farmers from Arkansas) moved to California, where the weather was good for farming f) They became MIGRANT WORKERS g) John Steinbeck- "Grapes of Wrath"
- SEC (Security Exchange Commission)
- To prevent another stock market crash
- SOUP KITCHENS
- Gave food to needy
- Social Security Act
- 1) At age 65 you can retire-> opens jobs for younger people 2) Disability insurance 3) Unemployment insurance
- Huey Long
- "Share the wealth"- make the rich pay higher taxes
- Cordell Hull
- Brain Trust, Secretary of state
- P.W.A. (Public Works Administration)
- Paid unemployed to build: dams, bridges. Tunnels, parks
- N.I.R.A. (National Industrial Recovery Act)
- Wrote codes/laws that business had to meet. Such as: Prices, working conditions, wages.
- W.P.A. (Works Progress Administration)
- Jobs in buildings, hospitals, schools, artists, and composers
- The Bonus Army
- Veterans of World War I had been promised a Bonus, so in 1932, more than 20,000 jobless veterans marched to Washington DC to demand their bonuses, they made a camp by Potomac River. In the end senate rejected the bill to pay the bonus immediately. Many Veterans went home, thousands of others stayed, vowing to stay until 1945 if necessary. Local police tried to force the veterans to leave. Battles with police left four people dead. Hoover than ordered General Douglas MacArthur to clear out the veterans. Using cavalry, tanks, machine guns, and tear gas, MacArthur moved into the camp and burnt it to the ground.
- NEW DEAL
- Franklin D. Roosevelt's program to end the depression. Divided into 3 parts-> "3Rs". Aim of the program to end the depression. Philosophy: Trial + error
- Liberty League
- said that Roosevelt's programs too socialistic, interfered in lives
- Henry Ickes
- Brain Trust, Secretary of Interior
- Francis Townsend
- "over 60 years old to get a pension of $200 per month"