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26 Cards in this Set
- Front
- Back
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Inflation
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When money becomes less in value due to the printing of of more money.
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Hobos
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Homeless people.
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Black Tuesday
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October 24, 1929, when the stockmarket crashed.
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"Okies"
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Someone who left from the Southern, Midwestern, or Southeastern United States to restart their life on the west coast.
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Hundred Days
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The first 100 days that FDR was in office, which resulted in the New Deal.
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Gold Standard
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A monetary system in which the value of currency is based on a set amount of gold. The U.S. abandoned the Gold Standard in 1933.
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Deppression
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a period of low economic activity with rising levels of unemployment.
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Speculation
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The act of buying stocks at great risk with the anticipation that the price will rise.
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Installment plans
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Buying an item on credit with a monthly plan to pay off the price of the good.
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Public works
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Projects such as highways, parks, and libraries built with public funds for public use.
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Relief
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Aid for the needy, welfare.
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Bonus Army
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a group of 17,000 World War I veterans, their families, and affiliated groups, who sought immediate cash payment of Service Certificates granted to them eight years earlier via the Adjusted Service Certificate Law of 1924.
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Court-packing
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When FDR proposed to put a lot more justices in the supreme court to help his new deal get through.
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Deficit spending
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Government practice of spending borrowed money instead of raising taxes, usually an attempt to boost the economy.
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Bull market margin
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the trader borrows money (at interest) to buy a stock and hopes for it to rise.
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Bank Run
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Persistent and heavy demands from a bank's depositors, creditors, or customers.
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Dust Bowl
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The Great Plains.
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Bank Holidays
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The closing of banks during the Great Depression to prevent bank runs.
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Fireside chats.
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Radio broadcasts made by FDR to the American people to explain his initiatives.
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Hawley-Smoot Tariff
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Raised U.S. tariffs on over 20,000 imported goods to record levels.
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The Grapes of Wrath
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Written by John Steinbeck. Set during the Great Depression, the novel focuses on the Joads, a poor family of sharecroppers driven from their Oklahoma home by drought, economic hardship, and changes in financial and agricultural industries. Due to their nearly hopeless situation, and in part because they were trapped in the Dust Bowl, the Joads set out for California. Along with thousands of other "Okies", they sought jobs, land, dignity and a future.
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RFC
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Stands for the "Reconstruction Finance Corporation", which is a U.S. agency that was created in 1932 under President Herbert Hoover to rescue poorly capitalized institutions.
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SEC
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Created in 1934 by FDR to oversee Wallstreet's finances.
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The New Deal
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The legislation created by FDR to help get the U.S. out of the great depression.
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SSA
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The Social Security Act, which was mainly for providing some security for older Americans and unemployed workers by giving welfare to needy people and giving monthly retirement benefits, which people can collect when they stop working at the age of 65.
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Broker State
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The government works out conflicts between different interests.
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