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HIST 2013: TEST 2
Call loans
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most common form of credit for stock purchases; allowed a stock buyer to put down from 10-50% of a stock's price and borrow the rest of the money in order to make the full payment; the lender could then "call back" the loan and demand replacement when a stock fell below a certain price
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Hawley-Smoot Tariff
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Bill passed in 1930 that raised American tariffs on foreign agricultural and manufactured goods by as much as 50% percent; triggered European retaliation
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Hooverville
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Popular name for a shantytown built by the homeless Americans during the Great Depression
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Breadline
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A line of people waiting to receive free food handed out by a charitable organization or public agency
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Dust Bowl
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Parts of Kansas, Oklahoma,Nebraska and Texas that suffered punishing dust storms and drought from the early 1930s to the early 1940s
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Okies
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People from Oklahoma that migrated west following the Dust Bowl
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Scottsboro Boys
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Nine African Americans accused of raping a white woman in Scottsboro, Alabama in 1931; they were imprisoned, although their guilt was never established conclusively
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Bonus Army
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Group of 15,000 World War 1 veterans who staged a protest in Washington D.C. in 1932, demanding immediate payment of their military bonuses
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Bank holiday
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Business day when banks are closed; used strategically by Roosevelt immediately after assuming the presidency
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Brain Trust
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Group of leading intellectuals charged with formulating policy with Roosevelt
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FERA(Federal Emergency Relief Administration)
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Federally funded department creating economic programs to employ the unemployed
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CCC (Civilian Conservation Corps)
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New Deal program that enlisted unemployed men ages eighteen to twenty five un building and repairing highways,forest service sites, flood control projects, and national park buildings
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NIRA (National Industrial Recovery Act)
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New Deal program that insisted programs to regulate industry, establish labor rights, and improve working conditions
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21st Amendment
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Repealed prohibition in December 1933
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Section 7a
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A component of the NIRA that legalized and granted rights to labor unions, leading to the dramatic expansion go labor unions across the nation
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NRA (National Recovery Administration)
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Department that enforced fair-trade rules set by the industrial associations during the 1920s, encouraged companies and workers too meet and agree on prices and wages, and established public relations campaign to mobilize support of the New Deal
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AAA (Agricultural Adjustment Act)
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A transformative act of the New Deal that established an agency that among other things: paid farmers not to grow crops in order to curb supply, was one of the most influential federal agencies in the South and West
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TVA (Tennesse Valley Authority)
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Department created in May 1933 to build a series of dams on the Tennessee River in order to improve river navigation and create electricity for the area's rural residences
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Glass-Stegall Banking Act
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A law regulating the banking industry, including its loans, and creating the FDIC to guarantee individual deposits
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The Liberty League
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An anti-New Deal organization that argued that the new deal pushed America towards Socialism
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WPA- Works Progress Administration
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New Deal agency whose workers built roads, damns,schools, subways, housing projects and other federal projects, it also sponsored cultural programs for unemployed artists and writers
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Schechter Poultry Corp vs. US
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Supreme court case that invalidated the NIRA on the grounds that it gave unconstitutionally broad powers to the federal government
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The Second New Deal can best be understood as Roosevelt's attempt to gain support from the _____ and ____ ____ class.
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working and lower middle
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Wagner Act
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Legislation passed in 1935, also known as the National Labor Regulations Act; strengthened the legal position of trade unions |
Social Security Act
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Most far-reaching element of all 1930s legislation, passed in August 1935; intended to provide a safety net for citizens who could not financially support themselves
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Keynesianism
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The belief that government should engage in deficit spending in order to stimulate a depressed economy, premised on the economic thought of British economist John Maynard Keynes, upon which FDR in particular based his actions
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Congress of Industrial Organizations (CIO)
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Broadly based trade union that recruited unskilled men and women on a large scale, particularly in the mining and clothing industries
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Sit-Down Strike
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Action in which workers stop working and locked themselves in the factory so strikebreakers cannot take their places
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Black Cabinet
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Informal group of black officials appointed to government posts who discussed African American issues with FDR
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T or F: The New Deal ended The Great Depression
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False |
Black Tuesday
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October 29th, 1929- stock market crashed
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Did the Stock Market cause the Great Depression?
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No cause can be proven, it was rather a symptom, but did definitely make the situation worse.
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Unitary Institutions
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Banks that were not branches of larger banks
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Great Depression on an International Level
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The United States was loaning Germany money following WW1 to make reparation payments to the Allies, the Allies payed back the United States with essentially the US's own money. When the United States was taken out the equation- everything went to hell.
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The ReconstructionFinance Corp.
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Formed in 1932- meant to help banks who collapsed
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Did FDR have a definite solution for the Great Depression?
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No. He was quoted saying that he would experiment until he got it right.
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