Vocabulary : The Great Depression & the New Deal
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Transcript of Vocabulary : The Great Depression & the New Deal
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Vocabulary: The Great Depression
& the New Deal
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1. Great Depression
The time period following the “Roaring 20’s” in which 25% of the United States’ workers were unemployed.
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2. Herbert HooverHe was president of the
U.S. when the stock market crashed. Ex: His refusal to provide funds for the unemployed during the Depression was based on the belief that it was not the role of the government to control the economy.
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3. Franklin D. Roosevelt
He served as president of the U. S. during the Great Depression and served as Commander in Chief during World War II.
-He introduced many social welfare programs that are still in use today.
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4. SpeculationMaking an investment
that is risky but might bring you big earnings based on a feeling of optimism. – Ex: During the 20’s many
Americans bought stocks on credit (or margin) and when the stocks fell, they could not pay back their loans; this caused many banks to close.
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5. Stock • A single share of a
company or corporation a person has invested in.
• ex: The more stocks a person owns, the more they can profit if that business does well, however; if the business does poorly or fails, an individual can lose some or all of the money he or she has invested.
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6. Stock Market• This is a place where
anyone who wishes to may buy “shares” of a business that is traded publicly.
– Ex: If a business does well, a “share” goes up in value; if the business does poorly, the “share” goes down in value. Buying stocks can be very profitable, but it is also very risky.
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7. Federal Reserve
• The “banker’s bank;” where private banks are required to keep a portion of their money, can get loans, & where the federal government keeps its money.
• – The job of the FED is to keep
private banks from closing & keep the economy healthy. But in 1929, it underestimated how bad the problem was and refused help small banks- many went bankrupt.
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8. New DealA series of new laws
and social welfare programs introduced by President Roosevelt as a way to help pull America out of the Great Depression and put citizens back to work.
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9. Social SecurityThis program was established to help provide monetary aid for Americans starting at age 65. • Ex: The current generation
pays for the retirement of those currently over 65 and then when they reach retirement, their children will help pay for their retirement.
U.S. citizens make a small payment from every
paycheck to avoid, as Roosevelt put it, “a poverty-
ridden old age.”
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10. Federal Deposit Insurance Corporation
(FDIC)
This federal organization was
formed to address banking
safety and restore confidence in
private banks.
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11. Works Progress Admiration (WPA)
This New Deal program built
hospitals, schools, parks, airports, and
employed artists, writers,
musicians.
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12. Public works Admiration(PWA)
This New Deal program built
ports,schools, bridges,
dams, andaircraftcarriers.
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13. Civilian Conservation Corp (CCC)
This New Deal Program put three
million strong, young men to work on projects related
to conservation and the
development of natural resources
in the U.S.
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14. Agricultural Adjustment Act (AAA)
This New Deal program
actually paid farmers not
to grow crops.
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14. Tennessee Valley Authority (TVA)
This New Deal program built
dams to provide cheap electric power
to southern states.