Bull Market: A term used to refer to the stock market in the 1920s, when everyone was investing and keeping track of prices, resembling a bullfight in an arena.
“Black Tuesday”: October 29, 1929, the day the stock market crashed, as people began to panic sell their shares.
Great Depression: America’s worst economic calamity, lasting through the 1930s and producing unemployment, bank failures, and industrial and agricultural collapse.
POUR: the President’s Organization for Unemployment Relief, it was created by Hoover, but was not effective and only encouraged local groups to help the unemployed.
RFC: (Reconstruction Finance Corporation) Hoover’s most important response to the Depression, it was designed to stimulate the economy by offering loans to floundering banks and businesses. It had mild success, but did not help recovery.
“Bonus Army”: Unemployed veterans of World War I who marched on Washington in 1932 demanding payment of service bonuses not due until 1945.
New Deal: The economic and political policies of Franklin D. Roosevelt during the Depression.
Election of 1932: Franklin D. Roosevelt (Democrat) was victorious over Herbert Hoover (Republican), partially because of FDR’s optimistic plans for recovery and the fact that the economy was in horrible condition under Hoover.
“Fireside Chat”: FDR’s radio broadcasts where he explained his policies in simple terms.
Franklin Delano Roosevelt: Served 3 terms as president beginning in 1932 who suffered from polio, which gave him patience and determination. He was previously the governor of New York.
Emergency Banking Act: An act passed in 1933 that gave the president broad powers over all banking transactions and foreign exchange.
“Hundred Days”: From March to June 1933, the period in which FDR passed a myriad of reforms (New Deal) designed to combat the Depression.
Civilian Conservation Corps: Part of the New Deal during the “Hundred Days” that was established to aid unemployment by providing work for young men in protecting the nation’s natural resources (i.e. road construction, reforestation, flood control).
FERA: (Federal Emergency Relief Administration) Gave $250 million as direct relief to states and apportioned another $250 million on the basis of a $1 for every $3 of state/local relief. This policy was direct relief, differing from Hoover’s loans.
AAA: (Agricultural Adjustment Administration) Set up as part of the New Deal to provide immediate relief for farmers. It set the benchmark for the future for setting prices of farm commodities, and the AAA also utilized subsidies.
TVA: (Tennessee Valley Authority) An independent public corporation that produced cheap fertilizer, built dams and power plants, and provided cheap electricity to thousands in the South. It was denounced by some as a step towards socialism.
National Industrial Recovery Act: An act that allowed each industry to be self-governed by a code created by businesses, labor representatives, and the public. In reality, the largest businesses in each industry largely created the codes and the public was unhappy.
PWA: (Public Works Administration) Authorized $3.3 billion for the construction of roads, public buildings and other projects to stimulate the economy through increased consumer spending.
American Liberty League: A group of conservative businessmen who denounced Roosevelt and held him responsible for an attack on property rights, the growing welfare state, and the decline of personal liberty.
Father Charles Coughlin: A Catholic priest from Detroit who broadcasted his radio sermons criticizing Wall Street, international bankers, and capitalism to millions. He saw New Deal policies as a Communist conspiracy and founded the National Union for Social Justice.
Huey Long: The governor of Louisiana who became a senator and opposed FDR. As governor, he called for radical redistribution of wealth, and improved public education, roads, and medical care which earned him the support of the poor. He created the Share Our Wealth Society to limit the size of large fortunes and was later assassinated.
Social Security Act of 1935: Established federal old-age pensions (age 65+) and unemployment insurance.
National Labor Relations Act: Act that established a federal guarantee of the right to organize trade unions and collective bargaining.
RA: (Resettlement Administration) Led by Rexford Tugwell, it helped to relocate poor farm families to more productive areas; however, the it had a lack of funds and poor management and only moved 1% of the intended families.
“New Deal Coalition”: The group of voters that were drawn to become Democrats and included big city machines, industrial workers, union members, southerners, and farmers.
Agricultural Adjustment Administration: (repeat – see AAA)
“Dust Bowl”: A term used to describe the Great Plains after a massive drought swept the region in the mid-1930s.
Okies: Sharecroppers from the Midwest who were forced off their land or victims of the Dust Bowl who migrated to California. In California, they faced low-income jobs and discrimination.
Indian Reorganization Act: Reversed the provisions of the Dawes Severalty Act and permitted the restoration of surplus lands to tribes and allocated funds for the purchase of more Indian lands.
“Federal One”: An agency that offered work to artists and intellectuals during the Depression.
John Steinbeck: Author of Grapes of Wrath, which portrayed the hardships of the Oklahoma Dust Bowl migrants.
Margaret Mitchell: Author of Gone with the Wind, a romantic novel set in the Civil War era.
Waiting for Lefty: A play by Clifford Odets that depicted the formation of a taxi drivers’ union, and was a well-known example of radical, political art.
Federal Communications Committee: Established in 1934, it favored commercial radio broadcasting.
“Swing Era”: A term used to describe the period when jazz became popular through radio broadcasts and bands.
Schecter v. U.S.: Case in which the Supreme Court found the National Recovery Administration unconstitutional.
Court-Packing Scheme: After the Supreme Court ruled several of FDR’s policies unconstitutional, he proposed a bill to expand the Supreme Court and allow presidential appointments, for which he received fierce opposition. The bill was rejected.
Eleanor Roosevelt: Used her powers as First Lady to promote liberal causes, such as protective labor legislation for women, antilynching legislation, health insurance, child labor reform, and opposing discrimination.
Frances Perkins: The first female cabinet member in U.S. history – secretary of labor. She led the department to create several labor reform acts.
“the Black Cabinet”: A group of African Americans whom FDR appointed to posts in his administration, including Robert Weaver.
“Roosevelt Recession”: An economic downturn after the economy had risen to pre-Depression levels caused by a reduction in federal spending by FDR (New Deal had not brought about a true recovery). This recession ended the policies of the New Deal.
“Black Tuesday”: October 29, 1929, the day the stock market crashed, as people began to panic sell their shares.
Great Depression: America’s worst economic calamity, lasting through the 1930s and producing unemployment, bank failures, and industrial and agricultural collapse.
POUR: the President’s Organization for Unemployment Relief, it was created by Hoover, but was not effective and only encouraged local groups to help the unemployed.
RFC: (Reconstruction Finance Corporation) Hoover’s most important response to the Depression, it was designed to stimulate the economy by offering loans to floundering banks and businesses. It had mild success, but did not help recovery.
“Bonus Army”: Unemployed veterans of World War I who marched on Washington in 1932 demanding payment of service bonuses not due until 1945.
New Deal: The economic and political policies of Franklin D. Roosevelt during the Depression.
Election of 1932: Franklin D. Roosevelt (Democrat) was victorious over Herbert Hoover (Republican), partially because of FDR’s optimistic plans for recovery and the fact that the economy was in horrible condition under Hoover.
“Fireside Chat”: FDR’s radio broadcasts where he explained his policies in simple terms.
Franklin Delano Roosevelt: Served 3 terms as president beginning in 1932 who suffered from polio, which gave him patience and determination. He was previously the governor of New York.
Emergency Banking Act: An act passed in 1933 that gave the president broad powers over all banking transactions and foreign exchange.
“Hundred Days”: From March to June 1933, the period in which FDR passed a myriad of reforms (New Deal) designed to combat the Depression.
Civilian Conservation Corps: Part of the New Deal during the “Hundred Days” that was established to aid unemployment by providing work for young men in protecting the nation’s natural resources (i.e. road construction, reforestation, flood control).
FERA: (Federal Emergency Relief Administration) Gave $250 million as direct relief to states and apportioned another $250 million on the basis of a $1 for every $3 of state/local relief. This policy was direct relief, differing from Hoover’s loans.
AAA: (Agricultural Adjustment Administration) Set up as part of the New Deal to provide immediate relief for farmers. It set the benchmark for the future for setting prices of farm commodities, and the AAA also utilized subsidies.
TVA: (Tennessee Valley Authority) An independent public corporation that produced cheap fertilizer, built dams and power plants, and provided cheap electricity to thousands in the South. It was denounced by some as a step towards socialism.
National Industrial Recovery Act: An act that allowed each industry to be self-governed by a code created by businesses, labor representatives, and the public. In reality, the largest businesses in each industry largely created the codes and the public was unhappy.
PWA: (Public Works Administration) Authorized $3.3 billion for the construction of roads, public buildings and other projects to stimulate the economy through increased consumer spending.
American Liberty League: A group of conservative businessmen who denounced Roosevelt and held him responsible for an attack on property rights, the growing welfare state, and the decline of personal liberty.
Father Charles Coughlin: A Catholic priest from Detroit who broadcasted his radio sermons criticizing Wall Street, international bankers, and capitalism to millions. He saw New Deal policies as a Communist conspiracy and founded the National Union for Social Justice.
Huey Long: The governor of Louisiana who became a senator and opposed FDR. As governor, he called for radical redistribution of wealth, and improved public education, roads, and medical care which earned him the support of the poor. He created the Share Our Wealth Society to limit the size of large fortunes and was later assassinated.
Social Security Act of 1935: Established federal old-age pensions (age 65+) and unemployment insurance.
National Labor Relations Act: Act that established a federal guarantee of the right to organize trade unions and collective bargaining.
RA: (Resettlement Administration) Led by Rexford Tugwell, it helped to relocate poor farm families to more productive areas; however, the it had a lack of funds and poor management and only moved 1% of the intended families.
“New Deal Coalition”: The group of voters that were drawn to become Democrats and included big city machines, industrial workers, union members, southerners, and farmers.
Agricultural Adjustment Administration: (repeat – see AAA)
“Dust Bowl”: A term used to describe the Great Plains after a massive drought swept the region in the mid-1930s.
Okies: Sharecroppers from the Midwest who were forced off their land or victims of the Dust Bowl who migrated to California. In California, they faced low-income jobs and discrimination.
Indian Reorganization Act: Reversed the provisions of the Dawes Severalty Act and permitted the restoration of surplus lands to tribes and allocated funds for the purchase of more Indian lands.
“Federal One”: An agency that offered work to artists and intellectuals during the Depression.
John Steinbeck: Author of Grapes of Wrath, which portrayed the hardships of the Oklahoma Dust Bowl migrants.
Margaret Mitchell: Author of Gone with the Wind, a romantic novel set in the Civil War era.
Waiting for Lefty: A play by Clifford Odets that depicted the formation of a taxi drivers’ union, and was a well-known example of radical, political art.
Federal Communications Committee: Established in 1934, it favored commercial radio broadcasting.
“Swing Era”: A term used to describe the period when jazz became popular through radio broadcasts and bands.
Schecter v. U.S.: Case in which the Supreme Court found the National Recovery Administration unconstitutional.
Court-Packing Scheme: After the Supreme Court ruled several of FDR’s policies unconstitutional, he proposed a bill to expand the Supreme Court and allow presidential appointments, for which he received fierce opposition. The bill was rejected.
Eleanor Roosevelt: Used her powers as First Lady to promote liberal causes, such as protective labor legislation for women, antilynching legislation, health insurance, child labor reform, and opposing discrimination.
Frances Perkins: The first female cabinet member in U.S. history – secretary of labor. She led the department to create several labor reform acts.
“the Black Cabinet”: A group of African Americans whom FDR appointed to posts in his administration, including Robert Weaver.
“Roosevelt Recession”: An economic downturn after the economy had risen to pre-Depression levels caused by a reduction in federal spending by FDR (New Deal had not brought about a true recovery). This recession ended the policies of the New Deal.