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Black Tuesday
Black Tuesday refers to the wall street crash of 1929. This was the event in which the whole stock market crashed, leading to the devestating Great Depression. Black Tuesday was considered the worst day, the lowest of all for stocks. The roaring twenties were a time in which people had success on their mind and had no idea of the risks they were taking on inflated stocks, one of the causes of the crash. -
Hawley Smoot Tariff
The Hawley-Smoot Tariff of 1930 was the highest tariff in history. When this was passed it caused a chain reaction with trading to other companies. There was a 40% trade drop after this was passed which lead to a 25% unemployment rate. -
Dust Bowl
The Dust Bowl referred to a particularly dry area of the prairie lands in the midwest. Many people went west and started to farm, then the land became over used and unfertile, which made it dry. When the dirt was so dry, a wind could come through and cause a major dust storm. -
20th Amendment
The 20th amendment changes the date that a newly elected president comes into office. The reason they made this amendment is because of the 'lame duck' period. That was the time in which the president in office was practically powerless. This occurs during the few months between the presidential election and inaguaration of the next president. -
TVA
The Tennessee Valley Authority was a farm and rural program to provide help to the Tennessee Valley area. It was an area particularly hard hit by the depression. It's purpose was to renovate the land and create jobs for the people. -
FDIC
The Federal Deposit Insurence Corporation was in the business area of the first new deal. It's purpose was to create insurance to individual bank accounts of less than $5,000. Before this there had been no insurance on bank accounts so if a bank went under, you just lost your money. The FDIC was created to ensure that you would not lose your money if you put it into a personal bank account. -
NRA
The National Recovery Administration was part of the New Deal under FDR to help the economy. It's area was in business. Their purposee was to promote recovery by interupting trend of wage cuts, falling prices, and layoffs. -
SEC
The US Securities and Exchange Commission is a in the business section of the New Deal. It's purpose was to regulate the stock market. The stock market was in need of direction after the crash of 1929, which is why this agency was formed. -
WPA
The Works Progress Administration was a program to help get our country back on the right foot. It was part of the New Deal. What this program did was employ millions of unskilled workers to carry out public services, like building roads and buildings. -
Wagner Act
The Wagner Act, or the National Labor Relations Act was passed in correlation with labor unions. It gave people the right to unionize. It also banned anti-union practices. It also lead to the NLRB which was a board for labor relations and unions. -
Social Security Act
The Social Security Act was part of the New Deal under FDR's first term of presidency. It consisted of old age pensions, unemployment, and families with children. It was meant to limit what were seen as dangers in society. -
Court Packing
The court packing idea was introduced by FDR. It was a legislative initiative to add more justices to the Supreme Court. The idea is that he would add justices that agreed with him, which in turn would sway the court towards his likings.
