The Great Depression and New Deal
Terms
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- black tuesday
- oct. 29, 1929. the worst day of plunging stock market prices during the stock market crash that helped initiate the great depression.
- stock market crash
- oct. 1929. period of plunging stock market prices.
- buying on margin
- buying stock by paying a percent of stocks, moneym and borrowing money from broker, allowing one to make greater profits if stock does well.
- overproduction
- situation in which more goods are being produced then people can afford.
- underconsumption
- situation in which people are purchasing fewer goods than the economy is producing.
- hawley-smoot tariff act
- 1930 law passed by congress to raise tariffs on imported goods in order to protect u.s. businessmen and farmers.
- bonus army
- group of thousands of world war one veterans who went to dc in 1932 to get early payment of retirement bonus to get through the great depression.
- hooverville
- during the great depression, a shanty town of makeshift dwellings.
- reconstuction finance corporation
- a gov. agency created by congress in 1932 to provide loans to banks, rail roads, and big businesses.
- new deal
- roosevelt's domestic program from 1933-1939 aimed to bring economic relief to great depression.
- first hundred days
- first three months of roosevelt's presidency. congress passed a new record of billsto implement the new deal and provide relief, recovery, and reform from great depression.
- black blizzard
- a severe dust storm.
- dust bowl
- area of great plains of the usa that suffered from wind erosion during the 1930s.
- the grapes of wrath
- novel by john steinbeck published in 1939, won acclaim for description of the experience of the dust bowl migrants during the great depression.
- okies
- nickname for a person who migrated from dust bowl to ca during the great depression.
- great flood of 1936
- a big flood in new england.
- national industrial recovery act
- as part of the new deal, a law passed by congress in 1933 to increase production while boosting wages and prices; it created the nra.
- agricultural adjustment administration
- tried to aid farmers by reducing crop production and raising prices.
- civilian conservation corps
- provided work for unemployed americans during the gd (part of 1st hundred days of the new deal)
- works progress administration
- part of the new deal, provided work for unemployed americans during gd.
- wagner act
- officially the national labor relations act, a law passed by congress in 1935 to protect workers' right to organize into unions; it created the national labor relations board.
- social security act
- 1935, to establish federal programs to offer old-age assistance and benefits. unemployment compensation, and aid to needy moms, kids, and the blind.
- new deal coalition
- a political partnership formed in the 1930s among various social and political groups in support of new deal, democratic party, and roosevelt.
- deficit spending
- gov.'s practice of spending more money than it recieves in revenue, the difference being made up by borrowing.