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Unit 7 ID's Part 1

Shaun Anderson


Black Tuesday Created the Federal Deposit Insurance Corporation, which insures the accounts of depositors of its member banks. It outlawed banks investing in the stock market.
Dust Bowl Shanty towns that the unemployed built in the cities during the early years of the Depression; the name given to them shows that the people blamed Hoover directly for the Depression.
John Steinbeck, Grapes of Wrath Black Tuesday October 29, 1929, It was the day that the New York Stock Exchange crashed. This was a result because of inflated stock prices, they were too costly and much higher than their worth. Therefore their worth plummeted, resulting in people loosing their money. However, many people had borrowed money to hold a high-priced stock, so they ended up bankrupt. The whole purchasing items on credit was a serious culprit in causing the crash. Black Tuesday marked the beginning of the Great Depression, a period of economic hardship in the United States lasting from 1929 to 1939.
Hawley-Smoot Tariff, 1930 Passed February 1933 to repeal the 18th Amendment (Prohibition). Congress legalized light beer. Took effect December 1933. Based on recommendation of the Wickersham Commission that Prohibition had lead to a vast increase in crime.
Hoovervilles The Share the Wealth society was founded in 1934 by Senator Huey Long of Louisiana He called for the confiscation of all fortunes over $5 million and a 100% tax on annual incomes over $1 million. He was assassinated in 1935.
Reconstruction Finance Corporation, RFC Congressional compromise serving special interest, it raised duties on agricultural and manufactured imports. It may have contributed to the spread of the international depression.
Bonus Army Presidential wife who became an effective lobbyist for the poor during the New Deal
Bank Holiday One of the most important reform measures of the Second New Deal established a retirement for persons over 65 funded by a tax on wages paid equally by employee and employer. It also provided disability assistance and unemployment insurance.
Twentieth Amendment The WPA was a relief measure started in May 1935 and was headed by Harold Hopkins. It employed people for 30 hours a week (so it could hire all the unemployed) building public buildings, projects and roads. The Federal Arts Project had unemployed artists painting murals in public buildings; actors, musicians, and dancers performing in poor neighborhood; and writers compiling guide books and local histories.
Twenty-First Amendment 1932 - Facing the financial crisis of the Depression, WW I veterans tried to pressure Congress to pay them their retirement bonuses early. Congress considered a bill authorizing immediate assurance of $2.4 billion, but it was not approved. Angry veterans marched on Washington, D.C., and Hoover called in the army to remove the veterans from the Capital.
National Industry Recovery Act (NIRA) and National Recovery Administration (NRA) A very popular New Deal measure, the CCC was created in April 1933. Within 4 months, 1300 CCC camps were in operation and 300,000 men between ages 18 and 25 worked on reforestation, soil conservation, and flood control projects. More than 2.5 million men lived and/or worked in CCC camps.
Public Works Administration (PWA), Harold Ickes June 1935 - Established as part of the WPA to provide part-time jobs for high school and college students to enable them to stay in school and to help young adults not in school find jobs.
Agricultural Adjustment Act (AAA), Second AAA This book was about "Okies" from Oklahoma migrating from the Dust Bowl to California in the midst of the Depression.
Tennessee Valley Authority (TVA) The Dust Bowl, also known as the "Dirty Thirties," was a series of dust storms in the central United States, caused by a massive drought and decades of inappropriate farming techniques. Beginning in 1930 and lasting until 1941, this ecological disaster caused an exodus from the Oklahoma Panhandle region and also the surrounding Great Plains in which around 300,000 to 400,000 Americans were displaced. Topsoil across millions of acres was blown away because the indigenous sod had been broken for wheat farming and the vast herds of buffalo were no longer fertilizing the rest of the native grasses.
Glass-Steagall Banking Reform Act, 1933 May 1935 - Replaced Section 7A of the NIRA. It reaffirmed labor's right to unionize and bargain collectively, prohibited unfair labor practices, and created the National Labor Relations Board.
Securities and Exchange Commission (SEC) Because the Supreme Court was striking down New Deal legislation, Roosevelt decided to curb the power of the Court by proposing a bill to allow the president to name a new federal judge for each who did not retire by age 70 and 1/2. At the time, 6 justices were over the age limit. Would have increased the number of justices from 9 to 15, giving FDR a majority of his own appointees on the court. Congress did not pass the court-packing bill.
Civilian Conservation Corps (CCC) A public corporation headed by a 3-member board. The TVA, a highly controversial New Deal program, built 20 dams, conducted demonstration projects for farmers, and engaged in reforestation to rehabilitate the area.
American Liberty League Written by George Norris and also called the "Lame Duck Amendment," it changed the inauguration date from March 4 to January 20 for president and vice president, and to January 3 for senators and representatives. It also said Congress must assemble at least once a year.
Dr. Francis Townsend Headed the National Union for Social Justice. Began as a religious radio broadcaster, but turned to politics and finance and attracted an audience of millions from many faiths. Severely criticized FDR's New Deal claiming it did not go far enough in bring relief to the American people. Promoted inflationary currency, anti-semitism.
Father Charles Coughlin 1933 - The AAA offered contracts to farmers to reduce their output of designated products. It paid farmers from processing taxes on these products, and made loans to farmers who stored crops on their farms. The Supreme Court declared it unconstitutional.
Huey Long, Share the Wealth 1934 - Created to supervise stock exchanges and to punish fraud in securities trading.
National Labor Relations Act or Wagner Act Organization of wealthy Republicans and conservative Democrats whose attacks on the New Deal caused Roosevelt to denounce them as "economic royalists" in the campaign of 1936.
Congress of Industrial Organizations (CIO), John L. Lewis Originally formed by leaders within the AFL who wanted to expand its principles to include all workers in mass production industries. In 1935, they created coalition of the 8 unions comprising the AFL and the United Mine Workers of America, led by John L. Lewis. After a split within the organization in 1938, the CIO was established as a separate entity.
Social Security Act Created in 1932 to make loans to banks, insurance companies, and railroads, it was intended to provide emergency funds to help businesses overcome the effects of the Depression. It was later used to finance wartime projects during WW II.
Works Progress Administration (WPA), Harold Hopkins, Federal Arts Project Under Secretary of the Interior Harold Ickes, the PWA operated as a recovery program and distributed $3.3 billion to State and local governments for building schools, highways, and hospitals, etc.
National Youth Association (NYA) Advanced the Old Age Revolving Pension Plan, which proposed that every retired person over 60 receive a pension of $200 a month (about twice the average week's salary). It required that the money be spent within the month.
Court-packing plan FDR closes all American banks for 4 days (Congress meets to discuss legislation); Creates a great sense of relief for the public.
Eleanor Roosevelt The chief measure to promote recovery was the NIRA. It set up the National Recovery Administration and set prices, wages, work hours, and production for each industry. Based on theory that regulation of the economy would allow industries to return to full production, thereby leading to full employment and a return of prosperity. It established code authorities for each branch of industry or business. The code authorities set the lowest prices that could be charged, the lowest wages that could be paid, and the standards of quality that must be observed.

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